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Oil up as US production falls, stockpiles draw

Oil up as US production falls, stockpiles draw

LONDON: Oil prices rose on Wednesday after data showed the market was beginning to tighten, with falling supply, higher demand and lower inventories after two years of heavy surplus. The U.S. government’s Energy Information Administration (EIA) said in a monthly report global oil demand should increase by its fastest rate in six years in 2016, […]

October 7, 2015 | By | Reply More
Volkswagen's India unit investigating Polo cars: spokesman

Volkswagen's India unit investigating Polo cars: spokesman

NEW DELHI: German carmaker Volkswagen AG’s India unit is investigating the Polo hatchback cars it sells in the country over “technical issues”, a spokesman of the local unit told Reuters on Wednesday. The spokesman said the investigation is not related to the diesel emissions scandal over which the company is facing a probe in the […]

October 7, 2015 | By | Reply More
And the CES Panelist are …

And the CES Panelist are …

Can’t wait for the 2016 CES? No worries. CES Unveiled Paris will keep you busy and feed your excitement until the next big event that industry professionals have been waiting for all year long. CES makes public today the list of panelists for the third installation of CES Unveiled Paris and it includes top executives […]

October 7, 2015 | By | Reply More
Volkswagen board in crisis talks ahead of emissions scandal deadlines

Volkswagen board in crisis talks ahead of emissions scandal deadlines

WOLFSBURG, Germany: Volkswagen’s supervisory board was holding crisis talks on Wednesday, facing deadlines from German regulators and U.S lawmakers to explain its rigging of diesel emissions tests and what it is doing to tackle the scandal. The 20-person board gathered at the German carmaker’s headquarters in Wolfsburg at around 9 a.m. (0700 GMT). Sources close […]

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Special Parliament sitting to discuss TPP likely: Mustapa

Special Parliament sitting to discuss TPP likely: Mustapa

PUTRAJAYA: There may be a special Parliament sitting to discuss the details of the Trans Pacific Partnership Agreement (TPP), says International Trade and Industry Minister Datuk Seri Mustapa Mohamed. The text is currently being finalised and will be made available to the public in about 30 days. The final document, together with two separate cost-and-benefit […]

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Bursa Malaysia ends higher

Bursa Malaysia ends higher

KUALA LUMPUR: Bursa Malaysia ended higher today, lifted by persistent buying interests in most heavyweights and lower-liners. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 26.74 points, or 1.61%, to 1,689.25, after moving between 1,657.73 and 1,690.79 throughout the day. Inter-Pacific Research Sdn Bhd Head of Research, Pong Teng Siew, said the […]

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Ringgit continues rally

Ringgit continues rally

KUALA LUMPUR: The ringgit strengthened against the US dollar today for the third consecutive session, boosted by rising crude oil prices and bullish local economic data, a dealer said. At 5pm, the ringgit was quoted at 4.2150/2250 against the US dollar from 4.3720/3770 on Tuesday. The dealer said improved oil prices also sparked investor confidence […]

October 7, 2015 | By | Reply More
Oil rally lifts energy firms, dollar dips on risk confidence

Oil rally lifts energy firms, dollar dips on risk confidence

HONG KONG: Oil prices on Wednesday (Oct 7) extended a rally on hopes a global supply glut could be easing, boosting Asian energy shares, while a broadly confident outlook saw emerging currencies surge against the dollar. Market heavyweight Samsung Electronics dragged South Korean shares higher as it soared after flagging a massive increase in operating […]

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Bank of Japan holds fire on boosting stimulus

Bank of Japan holds fire on boosting stimulus

TOKYO: The Bank of Japan held fire on Wednesday (Oct 7) on expanding its already huge stimulus programme, despite mounting pressure on policymakers from sluggish growth and stagnant prices. The decision follows disappointing data that has raised questions about the effectiveness of Prime Minister Shinzo Abe’s drive to kickstart the economy, which contracted in the […]

October 7, 2015 | By | Reply More
Rising oil powers broader market rally

Rising oil powers broader market rally

LONDON: A recovery in oil prices spread to stock markets and emerging market currencies on Wednesday, with the prospect of more support from the world’s central banks offsetting more disappointing economic data. After a dismal summer, which saw the worst quarter for global equities since 2011, traders say fund managers are ready to pile back […]

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