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Malaysia inflation seen edging up to 1.3 pct y/y in August

Malaysia inflation seen edging up to 1.3 pct y/y in August

In July, the consumer price index rose 1.1 percent from a year earlier, the fifth consecutive month in which the inflation rate slowed. KUALA LUMPUR: Malaysia’s annual inflation rate in August likely increased to 1.3 percent, a Reuters poll showed, slightly faster than the previous month’s pace. The pace of inflation probably increased because of […]

September 19, 2016 | By | Reply More
Oil prices up on Libya unrest, hopes for output deal

Oil prices up on Libya unrest, hopes for output deal

Key crude states are due to meet in Algeria next week to discuss the global supply crisis and overproduction that has hammered prices for two years. SINGAPORE: Oil prices edged up in Asia on Tuesday as OPEC member Venezuela indicated a deal to limit output is close while fighting in Libya stopped it kickstarting exports, […]

September 19, 2016 | By | Reply More
Dollar retreats in Asia ahead of Fed, BoJ meet

Dollar retreats in Asia ahead of Fed, BoJ meet

The greenback was also down against most other Asia-Pacific currencies, easing 0.6 percent against the Australian dollar and 0.5 percent against the New Zealand’s dollar. SINGAPORE: The dollar eased in Asia Monday after last week’s pick-up as investors await crucial policy meetings at the Federal Reserve and Bank of Japan later this week. The greenback […]

September 19, 2016 | By | Reply More
Australia’s Port of Melbourne sold for US$7.3 billion

Australia’s Port of Melbourne sold for US$7.3 billion

The pricetag was well above expectations with the Victorian state government initially expecting Aus$6 billion for one of Australasia’s largest maritime hubs for containerised, automotive and general cargo. SYDNEY: An Australian-led consortium on Monday won a 50-year-lease on the nation’s biggest container and cargo port for Aus$9.7 billion (US$7.3 billion), the latest maritime asset to […]

September 19, 2016 | By | Reply More
Most Asia markets up ahead of central bank meetings

Most Asia markets up ahead of central bank meetings

On oil markets, prices climbed as fighting erupted in Libya, with forces loyal to the UN-backed unity government launching an offensive Sunday to retake key ports seized last week by fighters from a rival administration. HONG KONG: Asian markets mostly rose Monday as traders gear up for huge central bank meetings in the US and […]

September 19, 2016 | By | Reply More
China to invest $450 billion modernizing agriculture by 2020

China to invest $450 billion modernizing agriculture by 2020

It was not immediately clear whether this commitment is separate from the bank’s plan announced in May to lend 3 trillion yuan for poverty reduction via agricultural investments. BEIJING: The Agricultural Development Bank of China, one of the country’s main policy lenders, agreed to loan at least 3 trillion yuan ($450 billion) by 2020 for […]

September 18, 2016 | By | Reply More
London’s core role in euros under spotlight after Brexit vote

London’s core role in euros under spotlight after Brexit vote

Banks in Britain are already making contingency plans to shift staff and operations to the EU in order to keep serving continental clients if Britain loses full access to the bloc under new trading terms that could take years to negotiate. LONDON: Banks in Britain are the largest borrowers and lenders of euros outside the […]

September 18, 2016 | By | Reply More
Rolls-Royce to cut 200 more management jobs

Rolls-Royce to cut 200 more management jobs

Before the restructuring started, Rolls-Royce had about 2,000 senior managers. In January East announced the loss of a few dozen senior management jobs and in March revealed the loss of another 150 positions. BRISTOL: Rolls-Royce said on Sunday it is cutting more than 200 management jobs as part of its ongoing restructuring. Chief Executive Warren […]

September 18, 2016 | By | Reply More
Brexit? What Brexit? EU on cruise control

Brexit? What Brexit? EU on cruise control

Tusk and others repeated their mantra of “no negotiation without notification” – that the EU will not so much as talk to the British until May triggers a two-year countdown to Brexit by formally saying Britain will leave under Article 50 of the EU treaty. BRATISLAVA: The “Brexit cruise” didn’t get very far. EU leaders […]

September 18, 2016 | By | Reply More
Rouhani: Iran supports any move to stabilize oil market

Rouhani: Iran supports any move to stabilize oil market

OPEC members will meet on the sidelines of the International Energy Forum (IEF), which groups producers and consumers, in Algeria on Sept. 26-28. Non-OPEC producer Russia is also attending the forum. TEHRAN: Iran’s President Hassan Rouhani said Tehran supports any move to stabilize the global oil market and lift prices, the Iranian oil ministry news […]

September 18, 2016 | By | Reply More