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Brexit helps push central London house prices to biggest fall since 2009

Brexit helps push central London house prices to biggest fall since 2009

LONDON: Britain’s vote to quit the European Union helped push down house prices in London’s most expensive areas at their fastest rate in nearly seven years, accelerating a downward trend caused by increases in property taxes, a consultancy said on Wednesday. Knight Frank’s prime central London index fell 1.5 percent last month from a year […]

August 3, 2016 | By | Reply More
Bank Negara tightens corporate governance standards

Bank Negara tightens corporate governance standards

Changes include a requirement for boards to have a majority of independent directors and to approve and maintain credible recovery and resolution plans. Bank Negara Malaysia has tightened corporate governance standards, giving more power to boards of financial institutions. The changes include a requirement for boards to have a majority of independent directors, and to […]

August 3, 2016 | By | Reply More
HSBC profits fall 29% as Brexit bites

HSBC profits fall 29% as Brexit bites

Group chief executive Stuart Gulliver predicted tough times ahead, saying volatility is “likely to continue for some time”. HONG KONG: HSBC said Wednesday its half-year profits had plunged 29 percent and that the bank was heading into a “period of heightened uncertainty” after Britain voted to leave the European Union. The bank said that pre-tax […]

August 3, 2016 | By | Reply More
Uber faces Taiwan ban for operating ‘illegal’ service

Uber faces Taiwan ban for operating ‘illegal’ service

Authorities say Uber does not have the proper registration to operate as a taxi service. TAIPEI: Ride-hailing service Uber could be banned in Taiwan after authorities accused it of operating illegally, with officials saying Wednesday a final decision will be handed down next week. It is the latest setback for the US company, after it […]

August 3, 2016 | By | Reply More
Bitcoin tanks after Hong Kong exchange breach

Bitcoin tanks after Hong Kong exchange breach

The breach is the latest blow to digital currencies after the New York Times reported in June that hackers diverted more than $50 million from an experimental fund of another platform that trades Ether, a similar unit to Bitcoin. HONG KONG: A major Hong Kong-based Bitcoin exchange has suspended trading after $65 million in the […]

August 3, 2016 | By | Reply More
Oil edges higher in Asia but US crude stays below $40

Oil edges higher in Asia but US crude stays below $40

The US Department of Energy will release the latest official stockpile data later Wednesday. SINGAPORE: Oil edged higher in Asia Wednesday after industry data showed a decline in US crude inventories, but prices stayed below $40 a barrel amid ongoing concerns over a supply glut. US crude dropped below the $40 dollar mark for the […]

August 3, 2016 | By | Reply More
Samsung unveils new curved-screen Galaxy Note phone

Samsung unveils new curved-screen Galaxy Note phone

The South Korean firm is betting the new big-screen device – the Galaxy Note 7 – will help sustain its mobile business revival through the second half, though new launches from rivals like Apple Inc will likely steal some of the thunder. SEOUL: Samsung Electronics Co Ltd on Wednesday unveiled a new Galaxy Note smartphone […]

August 3, 2016 | By | Reply More
Singapore Exchange prepares formal offer to buy UK’s Baltic Exchange

Singapore Exchange prepares formal offer to buy UK’s Baltic Exchange

The sources said both sides had reached key milestones for a deal to proceed and that SGX was getting ready to make a formal offer. SINGAPORE: Singapore Exchange Ltd (SGX) is readying a formal offer to buy London’s Baltic Exchange following months of discussions that culminated in exclusive talks between both parties, sources familiar with […]

August 3, 2016 | By | Reply More
Wall Street fears over Jho Low connection

Wall Street fears over Jho Low connection

Firms such as Electrum, in which the financier linked to 1MDB bought shares, are concerned they may also be targeted by the US Department of Justice. NEW YORK: There is concern among Wall Street companies whether those associated with Jho Low, or companies in which he has invested, may also be probed by the US […]

August 3, 2016 | By | Reply More
IMAX to open 160 cinemas with China’s Wanda

IMAX to open 160 cinemas with China’s Wanda

The agreement brings Wanda’s commitment for IMAX cinemas in China to 360, according to an IMAX statement, in a partnership that dates back to 2007. SHANGHAI: North American entertainment giant IMAX Corp. said Tuesday it plans to open 150 new cinemas in China after reaching agreement with Chinese conglomerate Wanda Group, in its largest ever […]

August 3, 2016 | By | Reply More