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Dollar rises after US growth revised up

Dollar rises after US growth revised up

TOKYO: The dollar climbed against the yen and euro in Asia as an upward revision of US economic growth increased the chances of another Federal Reserve interest rate hike. The greenback suffered heavy losses earlier this month after the US central bank lowered its forecasts for tightening borrowing costs this year, citing the impact on […]

March 28, 2016 | By | Reply More
Sinochem International, Halcyon Agri to create biggest natural rubber supply chain manager

Sinochem International, Halcyon Agri to create biggest natural rubber supply chain manager

March 28, 2016 SINGAPORE: A unit of Chinese oil and chemicals conglomerate Sinochem Group offered to buy a majority stake in Singapore’s Halcyon Agri Corp in a deal that will combine their rubber assets and create the world’s largest natural rubber supply chain manager. Sinochem International Corp said late Sunday that it has offered to […]

March 28, 2016 | By | Reply More
Cheap buyout plans in Singapore? Not so quick, say minority shareholders

Cheap buyout plans in Singapore? Not so quick, say minority shareholders

SINGAPORE: Singapore managements are increasingly being forced to pay up for taking their companies private as minority investors demand bigger premiums to the depressed market valuations of targets, underscoring a growing trend of shareholder activism in Asia. With the city-state’s nearly 300 small- and micro-cap companies currently trading on average at half the valuations of […]

March 28, 2016 | By | Reply More
Al-Jazeera says to cut around 500 jobs

Al-Jazeera says to cut around 500 jobs

DOHA: Qatar’s state-funded broadcaster Al-Jazeera on Sunday announced a fresh round of job cuts with around 500 positions being lost, most of them at the network’s Doha headquarters. On top of existing losses of 700 jobs following an announcement earlier this year that Al-Jazeera America is to close, it means the broadcaster is set to […]

March 27, 2016 | By | Reply More
Al-Jazeera says to cut around 500 jobs

Al-Jazeera says to cut around 500 jobs

DOHA: Broadcaster Al-Jazeera said on Sunday that it is to shed around 500 jobs, most of them at its Qatar headquarters, as part of a “workforce optimisation initiative”. Al-Jazeera said that after a management review it was “expected that around 500 positions worldwide will be impacted, the majority of which are in Qatar”. According to […]

March 27, 2016 | By | Reply More
Sharp, Foxconn to sign deal next week

Sharp, Foxconn to sign deal next week

March 27, 2016 TOKYO: Sharp Corp and Taiwan’s Foxconn are set to sign a takeover deal next week after repeated delays, with the two sides set to agree on a smaller bailout than originally planned for the troubled Japanese electronics maker, two sources familiar with the talks said on Saturday. The two companies will hold […]

March 27, 2016 | By | Reply More
British EU exit campaign backed by 250 business leaders

British EU exit campaign backed by 250 business leaders

LONDON: The campaign for Britain to leave the EU has been backed by 250 business leaders including the former chief executive of HSBC, the Vote Leave group said on Saturday, hoping to counter the view that UK businesses back staying in the bloc. The camps arguing for and against Britain staying in the European Union […]

March 27, 2016 | By | Reply More
Gulf migrant workers will be biggest victims of oil shock

Gulf migrant workers will be biggest victims of oil shock

LONDON: Saudi Arabia’s army of migrant workers will be among the biggest losers from the slump in oil prices and the impact will reverberate to poor countries across the Middle East and South Asia where many of them originate. Saudi Arabia relies more heavily on migrant labor than any other large country except neighboring United […]

March 26, 2016 | By | Reply More
BOJ tankan likely show biz mood worsens due to strong yen

BOJ tankan likely show biz mood worsens due to strong yen

TOKYO: Japanese manufacturers’ confidence probably deteriorated to the lowest in nearly three years and it is expected to worsen in the coming quarter due to exporters concern over a strong yen and worries over the global economy, a Reuters poll showed. Big firms are likely slash their capital spending plan for the new fiscal year […]

March 25, 2016 | By | Reply More
Playboy magazine publisher exploring sale

Playboy magazine publisher exploring sale

The Wall Street Journal, which first reported the news, said the company could be valued at more than $500 million. Playboy Enterprises , the owner of Playboy magazine, is exploring a sale, a source familiar with the matter told Reuters, in a move that comes after the storied magazine stopped publishing nude photos of women […]

March 25, 2016 | By | Reply More