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China's central bank injects 163 billion yuan to financial institutions

China's central bank injects 163 billion yuan to financial institutions

BEIJING: China’s central bank said it injected 163 billion yuan (US$25.00 billion) to 20 financial institutions via its medium-term lending facility (MLF) on Friday (Feb 19). It also lowered offered rates for the MLF loans to 2.85 per cent for six-month loans and 3 per cent for one-year loans, the bank said. Reuters reported on […]

February 19, 2016 | By | Reply More
Mazda recalls more vehicles in Japan, overseas over Takata airbags

Mazda recalls more vehicles in Japan, overseas over Takata airbags

TOKYO: Mazda Motor Corp on Friday said it had recalled a total of around 1.9 million vehicles in Japan and abroad over airbags manufactured by Takata Corp , expanding a global recall of potentially faulty airbag inflators. The Japanese automaker said it has recalled 1.5 million vehicles including its Atenza or Mazda 6 sedan, which […]

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Mercedes owner files US suit over diesel emissions

Mercedes owner files US suit over diesel emissions

HAMBURG: An owner of a Mercedes BlueTEC diesel car filed a class-action lawsuit in the United States, accusing the carmaker of knowingly programming its Clean Diesel vehicles to emit illegally high levels of nitrogen oxide, according to law firm Hagens Berman. Shares in Mercedes maker Daimler were down 3 percent at 62.82 euros at the […]

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Citi ASEAN head, Singapore Country Officer Michael Zink to retire

Citi ASEAN head, Singapore Country Officer Michael Zink to retire

SINGAPORE: Financial services corporation Citi on Friday (Feb 19) announced that its ASEAN head and Citi Country Officer (CCO) for Singapore Michael Zink will be retiring after 28 years with the organisation. A note from CEO of Citigroup Asia Francisco Aristeguieta to staff said Mr Zink has decided “now is the right time for him […]

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20 per cent chance of global recession: SocGen

20 per cent chance of global recession: SocGen

SINGAPORE: The recent upheaval in the world’s financial markets have raised the probability of a global recession to 20 per cent, said Societe Generale’s global head of economics. “Worries about the global economy have led to wobbles in the financial markets, and financial stress has heightened the risk of a synchronized global recession,” Michala Marcussen […]

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Mazda recalls more vehicles in Japan, overseas over Takata airbags

Mazda recalls more vehicles in Japan, overseas over Takata airbags

TOKYO: Mazda Motor Corp on Friday said it had recalled a total of around 1.9 million vehicles in Japan and abroad over airbags manufactured by Takata Corp , expanding a global recall of potentially faulty airbag inflators. The Japanese automaker said it has recalled 1.5 million vehicles including its Atenza or Mazda 6 sedan, which […]

February 19, 2016 | By | Reply More
Big banks see the need to shrink – but face a path full of obstacles

Big banks see the need to shrink – but face a path full of obstacles

NEW YORK/LONDON: When the U.S. Federal Reserve’s newest policymaker Neel Kashkari dropped a bombshell with a call to break up big banks on Tuesday, it was met with a predictably indignant response from their lobbyists. One described his comments as “blind.” But while no one in the executive suites of major global banks would want […]

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Singapore domestic wholesale trade down 15.9% on-year in Q4

Singapore domestic wholesale trade down 15.9% on-year in Q4

SINGAPORE: The Republic’s domestic wholesale trade contracted by 15.9 per cent year-on-year in the fourth quarter of 2015, partly due to lower prices of petroleum and chemical products, the Department of Statistics Singapore (Singstat) announced on Friday (Feb 19). In a press release, Singstat said that excluding petroleum, domestic wholesale trade declined 8.8 per cent when […]

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To youth, to health

To youth, to health

KENNY Rogers Roasters (KRR) is back with the 10th instalment of its Roasters Health Watch (RHW) challenge! In previous years, KRR had transformed and inspired many from all walks of life, especially participants of RHW to practise healthy lifestyles through its themed health programmes, which include Parents vs Runts, Mars vs Venus and Celebs vs […]

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Indonesia may ease ban on nickel ore, bauxite exports – Energy minister

Indonesia may ease ban on nickel ore, bauxite exports – Energy minister

February 19, 2016 JAKARTA: Indonesia could change rules that ban exports of unprocessed minerals including nickel ore and bauxite, the country’s energy minister said on Friday, referring to a revision of the country’s mining law targeted for completion this year. “There could indeed be a relaxation of the ore (export ban) if the revision of […]

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