Recent Articles

FGV shortlists five bidders for Canada's asset

FGV shortlists five bidders for Canada's asset

KUALA LUMPUR: Felda Global Ventures Holdings Bhd has shortlisted five bidders for the disposal of its non-profitable canola and soybean crushing and refinery business in Canada. CEO Datuk Mohd Emir Mavani Abdullah said the company is in final talks with five international firms. “We’re still in discussions, we’ll announce the update end of this month. […]

August 11, 2015 | By | Reply More
Indonesia raises cattle imports as beef prices soar

Indonesia raises cattle imports as beef prices soar

JAKARTA: Indonesia will issue permits to import another 50,000 cattle, the government said, after beef prices soared and butchers went on strike following a decision to dramatically reduce shipments from Australia. Chief Economics Minister Sofyan Djalil announced the increase late Monday, although he did not say over what period the cattle would be imported. “I […]

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China yuan devaluation pressures Asian currencies

China yuan devaluation pressures Asian currencies

TOKYO: Asia’s currencies came under pressure on Tuesday after China unexpectedly devalued its yuan currency in the face of weakening growth, driving the dollar higher. China’s central bank announced a near two percent drop in the value of its yuan against the US dollar, the biggest fall since the currency was unpegged from the greenback […]

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Restrictions lifted on invoice finance to help small firms grow

Restrictions lifted on invoice finance to help small firms grow

Ban on anti-invoice finance terms in contracts will come into force early next year   United Kingdom, Aug 11: Businesses will be freed from restrictive clauses in contracts that prevent them from gaining invoice finance when new measures come into force early next year. The move will open up more funding opportunities and specifically benefit […]

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Labor activists: Pacific trade deal puts profit over people

Labor activists: Pacific trade deal puts profit over people

While investor rights are protected, human rights are “relegated to unenforceable side agreements, aspirational multilateral protocols, spotty national laws and no accountability”. BOGOR: Labor activists worry that a US-led free-trade deal under negotiation will prioritize corporate profits over workers’ rights and pressure governments to bow to the will of investors. Trade ministers from the 12 […]

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Bursa Malaysia opens mixed

Bursa Malaysia opens mixed

KUALA LUMPUR: Bursa Malaysia opened mixed this morning after closing sharply lower yesterday and amid an overnight rally on Wall Street, dealers said. At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.02 points down at 1,651.35, after opening 0.93 point easier at 1,653.44. However, gainers led losers 199 to 93, while […]

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Ringgit continues slump against US dollar

Ringgit continues slump against US dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar Tuesday as foreign banks continued to offload the local note, a currency trader said. At 9.18am, the ringgit was quoted at 3.9330/9380 against the greenback from 3.9270/9300 at 5pm yesterday. “The ringgit continued to be pressured by a lack of domestic leads and falling crude […]

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Indonesian alcohol market faces price headache after tariff hike

Indonesian alcohol market faces price headache after tariff hike

JAKARTA: A steep increase in Indonesia’s import tariffs on wine and spirits could more than double prices that were sky-high already, denting demand and raising the risk of smuggling, drinks industry executives say. Under new tariffs that came into effect on July 23, importers have to pay 90 percent on the value of wine and […]

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Google morphs into Alphabet Inc, investors cheer clarity

Google morphs into Alphabet Inc, investors cheer clarity

SAN FRANCISCO: Google Inc announced a major shake-up of its operating structure on Monday, creating a holding company called Alphabet which will contain subsidiaries to separate its core web advertising business from newer ventures like driverless cars. The move appeared to be an attempt to let the search engine giant focus on its more creative […]

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Citigroup in $13.5 million settlement over defunct CSO hedge fund

Citigroup in $13.5 million settlement over defunct CSO hedge fund

August 11, 2015 NEW YORK: Citigroup Inc agreed to pay $13.5 million to settle a lawsuit accusing the bank of deceiving investors into remaining in its Corporate Special Opportunities hedge fund, only to suffer big losses when the fund was liquidated in November 2008, court papers filed on Monday show The lawsuit accused Citigroup and […]

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