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Dollar hold gains in cautious trade ahead of new US tariffs on China

Dollar hold gains in cautious trade ahead of new US tariffs on China

The dollar index against a basket of major currencies held at 94.965, well above Friday’s 94.359 which was the lowest since end-July. (Credit Pic Reuters) SYDNEY: The dollar held above a recent 1-1/2 month trough against a basket of major currencies on Monday, with investors cautiously awaiting news on the implementation of US tariffs on […]

September 17, 2018 | By | Reply More
JPMorgan Chase: Banking system healthy 10 years after meltdown

JPMorgan Chase: Banking system healthy 10 years after meltdown

Jamie Dimon, Chairman and CEO of JPMorgan Chase says they have returned to full health 10 years after the collapse of Lehman Brothers. (Pc Credit Reuters) JPMorgan Chase CEO Jamie Dimon said Sunday the US banking system has returned to full health 10 years after the collapse of Lehman Brothers plunged the world into the […]

September 17, 2018 | By | Reply More
Time Magazine acquired by Salesforce founder, following in Bezos footsteps

Time Magazine acquired by Salesforce founder, following in Bezos footsteps

Benioff, who has a net worth of $6.5 billion, serves as the co-chief executive officer of Salesforce. (Pic Credit Bloomberg) Salesforce.com Inc. founder Marc Benioff and his wife Lynne agreed to acquire Time magazine from Meredith Corp. for $190 million in cash, joining Jeff Bezos among tech billionaires buying venerable print publications. Benioff, who has […]

September 16, 2018 | By | Reply More
Credit Suisse heralds calmer years ahead as overhaul ends

Credit Suisse heralds calmer years ahead as overhaul ends

Tidjane Thiam, chief executive officer of Credit Suisse Group AG. (Bloomberg pic) ZURICH: Tidjane Thiam is looking forward to things getting back to normal. In an interview with Swiss newspaper NZZ am Sonntag, the chief executive officer of Credit Suisse Group AG said the bank is now targeting “business as usual” after years of restructuring. […]

September 16, 2018 | By | Reply More
Go-Jek is said in talks to raise at least US$2 billion in funding

Go-Jek is said in talks to raise at least US$2 billion in funding

Go-Jek motorcycle drivers in Jakarta. (Bloomberg pic) SINGAPORE: Go-Jek, Indonesia’s most valuable technology startup, is in talks to raise at least US$2 billion to fuel an accelerated expansion overseas, according to a person with direct knowledge of the matter. The Jakarta-based company plans to close the funding round in several weeks, the person said, asking […]

September 16, 2018 | By | Reply More
Tencent, Hillhouse team up to manage China’s offshore trillions

Tencent, Hillhouse team up to manage China’s offshore trillions

A pedestrian walks past Tencent Holdings Ltd.’s headquarters in Shenzhen, China. (Bloomberg pic) HONG KONG: Tencent Holdings Ltd. and Hillhouse Capital Management Ltd. are joining the throng of financial firms seeking to service the huge number of Chinese investors looking to diversify outside of the mainland. GaoTeng Global Asset Management Ltd., the duo’s one-year-old venture […]

September 16, 2018 | By | Reply More
Saudi drops on blue-chip weakness, Dubai hurt by DSI

Saudi drops on blue-chip weakness, Dubai hurt by DSI

The Dubai index was down 0.4%, hurt by continued weakness in DSI, which fell 3.7% and hit a record low in early trading. (AFP pic) DUBAI: Gulf stocks were mostly lower on Sunday morning, with Saudi Arabia under pressure after closing at a six-month low in the previous session and Dubai hit by continued selling […]

September 16, 2018 | By | Reply More
Saudi Arabia to auction detained tycoon’s real estate assets

Saudi Arabia to auction detained tycoon’s real estate assets

One source estimated the indebted billionaire’s sale proceeds to be US$267-US$533 million. (Bloomberg pic) RIYADH: Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors, sources familiar with the matter told Reuters. Sanea, ranked by Forbes in 2007 […]

September 16, 2018 | By | Reply More
Macau halts gambling as typhoon deals latest blow to casinos

Macau halts gambling as typhoon deals latest blow to casinos

Casino Lisboa, center, stands before the expected arrival of Super Typhoon Mangkhut in Macau on Sept 15, 2018. (Bloomberg pic) HONG KONG: All bets are off in Macau — for now. The world’s largest gambling hub suspended gaming operations at all its casinos as Typhoon Mangkhut ripped through the region, in the latest setback for […]

September 16, 2018 | By | Reply More
Japan’s Abe says he told Trump it’s dangerous to play with FX

Japan’s Abe says he told Trump it’s dangerous to play with FX

Japanese Prime Minister Shinzo Abe. (Bloomberg pic) TOKYO: Japan’s Shinzo Abe told US President Donald Trump that it’s dangerous to broach the topic of currencies, the prime minister said on Sunday. The comment came in a television debate with lawmaker Shigeru Ishiba, his rival in the ruling Liberal Democratic Party leadership election on Thursday, as Abe […]

September 16, 2018 | By | Reply More