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Wall St edges higher in thin trading ahead of election results

Wall St edges higher in thin trading ahead of election results

Traders work on the floor of the New York Stock Exchange (NYSE) on August 1, 2017 in New York City. (AFP pic) NEW YORK: US stocks ticked higher in thin trading on Tuesday, supported by strong earnings and a rebound in technology stocks from a two-day selloff, while investors braced for the outcome of US […]

November 6, 2018 | By | Reply More
Thailand waives visa-on-arrival fees to boost tourism

Thailand waives visa-on-arrival fees to boost tourism

A passenger at Bangkok’s Suvarnabhumi airport. (AFP pic) BANGKOK: Thailand’s cabinet on Tuesday approved a measure to waive for two months fees paid by visitors for visas on arrival, in a bid to boost a lucrative industry hit by a drop in visitors from China, its biggest market. The fee of 2,000 baht (US$60) will […]

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German car parts maker to shut UK sites, citing Brexit

German car parts maker to shut UK sites, citing Brexit

Schaeffler said in a statement that “uncertainty surrounding Brexit has brought forward” a decision to restructure globally. (AFP pic) LONDON: Schaeffler, a German maker of parts for cars and industrial products, announced Tuesday plans to shut two UK sites, with Brexit cited for axing up to a reported 500 jobs. Schaeffler said in a statement […]

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Dollar inches up before midterm elections

Dollar inches up before midterm elections

  LONDON: The dollar edged up on Tuesday but its gains were limited by investor caution about the US midterm elections and any fallout for the world’s largest economy. The greenback has outperformed most major currencies this year, benefiting from the robust US economy and rising interest rates. Investors are focused on whether congressional elections […]

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Iran oil exports to plummet in Nov, then rebound as buyers use waivers

Iran oil exports to plummet in Nov, then rebound as buyers use waivers

  Oil’s surge to a four-year high in early October has unravelled as a rout in global equities stokes concern that fuel demand will suffer. (Bloomberg pic) SINGAPORE/LONDON: Iran’s oil exports have fallen sharply since US President Donald Trump said at mid-year he would reimpose sanctions on Tehran, but with waivers in hand the Islamic […]

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New taxes in Budget 2019 add little to govt coffers: MARC

New taxes in Budget 2019 add little to govt coffers: MARC

PETALING JAYA: The new taxes proposed in Budget 2019, such as tax on imported services, real property gains tax (RPGT) and departure levy, are seen to contribute insignificantly to the government’s revenue, according to Malaysian Rating Corp Bhd (MARC). The new revenue-generating measures were meant to buffer government coffers against the drop in income following […]

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Research house warns of potential systemic risk from property crowdfunding

Research house warns of potential systemic risk from property crowdfunding

PETALING JAYA: Although the property crowdfunding measure, dubbed FundMyHome scheme, could provide some near-term boost to the market, Kenanga Research said the scale of how this will be implemented will determine the longer-term health of the sector and potentially create a systemic risk in the property and banking sectors. This, in turn, will have an […]

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Russia’s Rosneft nearly triples Q3 net income

Russia’s Rosneft nearly triples Q3 net income

Russia’s oil giant Rosneft (AFP pic) MOSCOW: Russia’s largest oil producer Rosneft said on Tuesday that its third-quarter net income nearly tripled year-on-year thanks to higher prices and production. The Russian giant chalked up the higher income to a positive exchange rate and an increase in production following an agreement by the Organisation of the […]

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SC to review market guidelines to facilitate property crowdfunding platforms

SC to review market guidelines to facilitate property crowdfunding platforms

KUALA LUMPUR: The Securities Commission Malaysia (SC) will be reviewing the details of the proposed structure and its guidelines on recognised markets (RMO guidelines) to facilitate the establishment of property crowdfunding platforms as announced in Budget 2019. “SC is supportive of innovative ideas that tap on the transformative power of technology to democratise investments, allowing […]

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Sterling touches 2-week high on Brexit deal hopes

Sterling touches 2-week high on Brexit deal hopes

The 50-pound note. (Bloomberg pic) LONDON: Sterling rose a quarter of a percent on Tuesday as hopes grew of a Brexit deal breakthrough, encouraging investors to buy the British currency with the struggling dollar also fuelling gains. The European Union is preparing to back a compromise proposal on the Irish border to resolve the last […]

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