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Diamondback to buy Energen in US$9.2 billion deal

Diamondback to buy Energen in US$9.2 billion deal

Adding new drilling prospects represents the best way for independent oil producers like Diamondback to compete for services with larger rivals that have moved into the Permian this year. An oil pump operating in the Permian Basin near Midland, Texas, US, May 2017. (Reuters pic) HOUSTON: US oil and gas producer Diamondback Energy Inc on […]

August 15, 2018 | By | Reply More
Spotify’s US$8 billion rally attracting hedge funds

Spotify’s US$8 billion rally attracting hedge funds

Spotify’s rally has added more than US$8 billion in market value – user growth is one of the reasons Wall Street expects Spotify’s revenue to expand by 29% in 2019. A man checks his smartphone while standing amongst illuminated screens bearing the Spotify Technology SA logo. (Bloomberg pic) SAN FRANCISCO: Spotify Technology SA, the music-streaming […]

August 15, 2018 | By | Reply More
Coinbase still signing up 50,000 users a day despite crypto downturn

Coinbase still signing up 50,000 users a day despite crypto downturn

While speculators have been attracted to cryptocurrencies, many haven’t made money – Bitcoin’s price of about US$6,120 price is now almost 70% off its December high. A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 2015. […]

August 15, 2018 | By | Reply More
Verizon signs Apple, Google as partners for 5G TV service

Verizon signs Apple, Google as partners for 5G TV service

High-frequency 5G radio signals are easily disrupted and remain commercially unproven – if successful, the technology could see US$200 billion a year in industry-wide development spending. A Verizon Communications Inc store in Brea, California. (Bloomberg pic) NEW YORK: Verizon Communications Inc announced deals making Apple Inc and Google its first video providers for a superfast […]

August 15, 2018 | By | Reply More
Fidelity and T. Rowe cut Tesla stakes by more than 20%

Fidelity and T. Rowe cut Tesla stakes by more than 20%

The moves came in the second quarter, before Tesla Chairman Elon Musk said he may take the company private. The Tesla Motors Inc logo on a window at the company’s new showroom in San Francisco, California, US. (Bloomberg pic) WASHINGTON: Fidelity Investments and T. Rowe Price Group Inc, two of the largest investors in Tesla Inc, […]

August 15, 2018 | By | Reply More
Malaysian economy could shrink if US-China trade war escalates

Malaysian economy could shrink if US-China trade war escalates

KUALA LUMPUR: Malaysia’s gross domestic product (GDP) could contract by 1.3% in two years should the trade war between the United States and China intensify. CIMB Group chief economist Dr Donald Hanna said Malaysia’s economic growth could shrink in the event of continuous escalation in tariff imposition and a confidence shock in the financial market, […]

August 14, 2018 | By | Reply More
AirAsia sells remaining 25% share of joint venture with Expedia for US$60m

AirAsia sells remaining 25% share of joint venture with Expedia for US$60m

PETALING JAYA: AirAsia Group Bhd has divested its remaining 25% stake in its joint venture (JV) company AAE Travel Pte Ltd for US$60 million (RM240 million) to the 75% stakeholder, Expedia Inc’s Expedia Southeast Asia Pte Ltd, in a bid to monetise its investment and utilise the proceeds as working capital. AirAsia divested the other […]

August 14, 2018 | By | Reply More
YTL Hospitality REIT acquiring Hokkaido ski resort for RM222.5m cash

YTL Hospitality REIT acquiring Hokkaido ski resort for RM222.5m cash

PETALING JAYA: YTL Hospitality REIT (YTL REIT) is acquiring The Green Leaf Niseko Village for ¥6 billion cash (RM222.5 million) from Niseko Village KK (Niseko Village), an indirect wholly owned subsidiary of YTL Corp Bhd. In a filing with Bursa Malaysia today, YTL REIT said its wholly owned subsidiary Starhill REIT Niseko GK (Starhill Niseko) […]

August 14, 2018 | By | Reply More
India's Fortis sees signs of recovery, shareholders approve takeover by IHH Healthcare

India's Fortis sees signs of recovery, shareholders approve takeover by IHH Healthcare

BENGAlURU: Cash-strapped Indian hospital operator Fortis Healthcare Ltd said today it was starting to see some signs of recovery, as it secured shareholder approval for its takeover by Malaysia’s IHH Healthcare Bhd. Fortis, which operates about 30 private hospitals in India, reported a net loss of 707.4 million rupees (RM41.5 million) for the three months […]

August 14, 2018 | By | Reply More
BMW launches new i8 Coupe, priced from RM1.32m

BMW launches new i8 Coupe, priced from RM1.32m

<p>KUALA LUMPUR: BMW Group Malaysia, the official distributor of BMW and MINI cars in the country, has launched the new BMW i8 Coupé at a price of RM1.32 million excluding insurance during the tax free period.</p> © New Straits Times Press (M) Bhd

August 14, 2018 | By | Reply More