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Australia faces tougher bond rules as Asia tightens standards

Australia faces tougher bond rules as Asia tightens standards

SYDNEY: Australia may come under increasing pressure to tighten regulation in its A$413 billion ($296 billion) bond market as Asian peers adopt stricter international standards, making Australia’s requirements look lax by global norms. Regulators in Singapore, Thailand and Malaysia in September adopted common disclosure standards for companies seeking to sell securities, matching their regulatory requirements […]

October 7, 2015 | By | Reply More
Tesco says aspiration is full-year profit of 950 million pounds

Tesco says aspiration is full-year profit of 950 million pounds

LONDON: Britain’s biggest retailer Tesco is on track to make an operating profit before one-off items of 950 million pounds in its 2015-16 financial year, effectively matching the previous year’s profit, it said on Wednesday. Tesco made a trading profit in its 2014-15 year of 1.39 billion pounds (US$2.12 billion), which equates to 1.23 billion […]

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Nokia's bosses to dominate leadership team after Alcatel deal

Nokia's bosses to dominate leadership team after Alcatel deal

HELSINKI: Finnish network equipment maker Nokia said on Wednesday its executives would dominate the new leadership team once it completes its proposed acquisition of Alcatel-Lucent. Chief Financial Officer Timo Ihamuotila will stay in his job and altogether 10 out of a total 13 members in the planned group leadership team come from Nokia. Nokia said […]

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AirAsia has no knowledge of it being privatised

AirAsia has no knowledge of it being privatised

KUALA LUMPUR: AirAsia has announced to Bursa Malaysia that it has no knowledge of it being taken private. However, the low-cost carrier confirmed that it is in discussions with certain bankers to partially finance the buy-back of AirAsia shares. “Referring to yesterday’s wire and media reports stating that the company will be taken private, the […]

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Diageo sells stakes in Jamaican, Malaysian brewers to Heineken

Diageo sells stakes in Jamaican, Malaysian brewers to Heineken

REUTERS: Diageo Plc , the world’s largest spirits company, said it had sold its stakes in Jamaican brewer Desnoes & Geddes Ltd (D&G) and Malaysian beer producer Guinness Anchor Bhd to Heineken NV . The disposal includes sale of Diageo’s 57.87 percent stake in D&G to Heineken, bringing Heineken’s stake in D&G to 73.32 percent. […]

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AB InBev raises offer for rival SABMiller at 42.15 pounds per share

AB InBev raises offer for rival SABMiller at 42.15 pounds per share

BRUSSELS: Anheuser-Busch InBev , the world’s largest brewer, on Wednesday increased its bid for its largest rival SABMiller to 42.15 pounds per share in cash, valuing the company at nearly 68 billion pounds (US$103.63 billion). The company said in a statement it had made two prior offers for SABMiller with the second one at 40 […]

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Renault-Nissan discussing change in alliance structure to counter French control: paper

Renault-Nissan discussing change in alliance structure to counter French control: paper

TOKYO: Renault SA and Nissan Motor Co have entered discussions to reorganize their capital alliance structure in a bid to water down Paris’s control of the French automaker, the Nikkei business daily reported on Wednesday. The paper said a plan being floated was for Renault to lower its stake in Nissan below 40 percent from […]

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SBA empowers small businesses to be cyber safe

SBA empowers small businesses to be cyber safe

Launches online resources to help entrepreneurs identify risk and guard against cyber threats   Washington, Oct 7: The US Small Business Administration (SBA) unveiled on Monday, Oct 5, a new cybersecurity webpage for small businesses at www.sba.gov/cybersecurity on the 12th Anniversary of National Cybersecurity Awareness Month.  The SBA launched the online tools and resources to […]

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JPMorgan buys more mortgages from other lenders as market shrinks

JPMorgan buys more mortgages from other lenders as market shrinks

NEW YORK: JPMorgan Chase & Co, looking to stem falling revenue in its mortgage business as fewer Americans refinance, is increasingly buying loans from smaller lenders, a practice that competitors including Bank of America view as risky. In the first half of 2015, the bank bought 62 percent of the US$58 billion in home loans […]

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South East Asia economic woes test reserves

South East Asia economic woes test reserves

Foreign funds have sold a net $9.7 billion of stocks in Malaysia, Thailand and Indonesia this year, with the bourses in those three countries seeing Asia’s largest net outflows. JAKARTA: Southeast Asia has spent the best past of two decades shoring defenses against a repeat of the Asian financial crisis, including building up record foreign […]

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