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Oil rout over, OPEC aims for US$50 anchor, says PIRA's Ross

Oil rout over, OPEC aims for US$50 anchor, says PIRA's Ross

REUTERS: Major OPEC producers are privately starting to talk about a new oil price equilibrium of US$50 a barrel, adding to signs that the market’s long, deep rout is officially over, says one of the industry’s leading prognosticators. Gary Ross, the founder, executive chairman and chief oil soothsayer at New York-based consultancy PIRA, told clients […]

March 7, 2016 | By | Reply More
Air cargo industry leaders gather for Kale’s Clear View Summit in Dubai – Call for 100% e-freight adoption

Air cargo industry leaders gather for Kale’s Clear View Summit in Dubai – Call for 100% e-freight adoption

Clear View, A Kale Thought Leadership Summit for Air Cargo, saw participation from twenty five air cargo industry leaders from global organisations including Celebi, Swissport, Vienna Airport, Lufthansa Airlines, TIACA, IATA, leading African Handlers and renowned industry consultants from Europe and Canada     Dubai, Mar 7 – A Kale Thought Leadership Summit for Air […]

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Ringgit ends sharply higher against greenback

Ringgit ends sharply higher against greenback

KUALA LUMPUR: The ringgit closed sharply higher against the US dollar today on the back of the recovery in oil prices and improving US non-farm payrolls (NFP) in February. At 5 pm, the local unit was traded at 4.0950/0000 against the greenback from 4.1175/1225 last Friday. Forex Time Ltd (FXTM) Chief Market Analyst Jameel Ahmad […]

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Bank Negara reserves at RM410.5b as at Feb 29

Bank Negara reserves at RM410.5b as at Feb 29

KUALA LUMPUR: Bank Negara Malaysia’s international reserves amounted to RM410.5 billion (USD$95.6 billion) as at Feb 29, 2016. © New Straits Times Press (M) Bhd

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SGX to boost freight derivatives with pursuit of Baltic Exchange

SGX to boost freight derivatives with pursuit of Baltic Exchange

SINGAPORE: Singapore Exchange’s (SGX) bid to buy London’s Baltic Exchange is aimed at burnishing its derivatives credentials among ship brokers and commodity merchants, fitting hand in glove with its efforts to develop Asian pricing benchmarks for bulk commodities. The bourse has struggled in recent years, losing out to Hong Kong as the main destination for […]

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China angered by planned US export restrictions on ZTE

China angered by planned US export restrictions on ZTE

BEIJING: China’s Foreign Ministry expressed anger on Monday at the U.S. Commerce Department’s plans to place export restrictions on Chinese telecoms equipment-maker ZTE Corp for allegedly violating U.S. export controls on Iran. The restrictions will take effect Tuesday, Reuters has learned, and apply to any company worldwide that wants to ship American-made products to ZTE […]

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BASF shares fall after report it weighing DuPont bid

BASF shares fall after report it weighing DuPont bid

FRANKFURT: Shares in BASF fell after a media report that the world’s top chemicals group by sales was evaluating a counter bid for DuPont , which late last year agreed to merge with Dow Chemical . BASF shares traded 2.3 percent lower, one of the biggest decliners among German blue-chips , with traders citing a […]

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Europe shares dip after Asia hits two-month high, oil rises

Europe shares dip after Asia hits two-month high, oil rises

LONDON: European shares fell on Monday, unable to maintain the momentum that took Asian equities to two-month highs after upbeat U.S. jobs data and as oil prices rose further. Chinese shares rose for a fifth consecutive day as reassurances by the country’s leaders that the economy would remain on a sound footing soothed investors investors’ […]

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UK business chief resigns, accuses PM Cameron of EU exit hyperbole

UK business chief resigns, accuses PM Cameron of EU exit hyperbole

LONDON: The former head of a prominent British business lobbying group, who quit his post because he supports Britain’s exit from the European Union, accused Prime Minister David Cameron of scaremongering in comments published on Monday. British Chambers of Commerce (BCC) director general, John Longworth, resigned late on Sunday after he breached the group’s neutral […]

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Mahindra re-thinking Ssangyong plan, wants to make cars in China

Mahindra re-thinking Ssangyong plan, wants to make cars in China

NEW DELHI/BEIJNG: Indian conglomerate Mahindra & Mahindra is re-thinking the strategy for its loss-making Korean automaker Ssangyong Motor Co , tapping the brakes on its planned push into the United States to focus instead on China. Mahindra’s Executive Director Pawan Goenka told Reuters the company was in talks with Chinese firms to enter into a […]

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