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Allianz Life still keen on takaful business

Allianz Life still keen on takaful business

KUALA LUMPUR: Allianz Life Insurance Malaysia Bhd, which is aiming tohave 10,000 agents by year-end from 8,300 now, remains interested in the takaful business although it is not in talks with any potential acquisition target now. Allianz Life CEO Rangam Bir said it sees that a large part of the market has the need for […]

September 24, 2015 | By | Reply More
US rate increase 'likely' later this year: Fed Chair Yellen

US rate increase 'likely' later this year: Fed Chair Yellen

WASHINGTON: US Federal Reserve chief Janet Yellen said on Thursday (Sep 24) that she still expects to increase interest rates in 2015 and that concerns about weaker global growth likely will not affect that plan. Yellen said improvements in the US economy “will likely entail an initial increase in the federal funds rate later this year.” Policymakers will […]

September 24, 2015 | By | Reply More
Nike beats estimates on high-margin product sales; orders jump

Nike beats estimates on high-margin product sales; orders jump

REUTERS: Nike Inc , the world’s largest footwear maker, reported a better-than-expected profit for the ninth straight quarter as sales of high-margin products rose and more customers bought from its owned stores and website. Shares of the company, which also posted a surprise rise in growth of “futures orders”, were up 6 percent in extended […]

September 24, 2015 | By | Reply More
Wall Street ends lower as Caterpillar, health stocks weigh

Wall Street ends lower as Caterpillar, health stocks weigh

REUTERS: U.S. stocks closed lower on Thursday in a volatile session on uncertainty about U.S. monetary policy and global economic growth, while market heavyweight Caterpillar cut in its sales forecast and healthcare investors fled for the exits. Six of the 10 major S&P sectors were lower, with the health sector’s 1-percent fall leading the S&P […]

September 24, 2015 | By | Reply More
Wall Street declines as Caterpillar drags

Wall Street declines as Caterpillar drags

NEW YORK: U.S. stocks closed lower on Thursday in a volatile session on uncertainty about U.S. monetary policy and global economic growth after market heavyweight Caterpillar cut its sales forecast and healthcare investors fled for the exits. The Dow Jones industrial average fell 77.43 points, or 0.48 percent, to 16,202.46, the S&P 500 lost 6.4 […]

September 24, 2015 | By | Reply More
Oil prices bounce back slightly

Oil prices bounce back slightly

NEW YORK: Oil prices edged higher on Thursday (Sep 24), recovering some of the losses from the previous day’s session that were prompted by increased US oil output. US benchmark West Texas Intermediate for November delivery rose 43 cents to US$44.91 a barrel on the New York Mercantile Exchange. European benchmark Brent oil for November delivery added 42 cents at […]

September 24, 2015 | By | Reply More
US business spending slips, new home sales rise in August

US business spending slips, new home sales rise in August

WASHINGTON: U.S. business investment fell slightly in August, excluding spending on aircraft and defense equipment, but new home sales rose, suggesting that global economic headwinds were doing little to impede U.S. growth. The U.S. economy is on track to grow 1.4 percent in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on […]

September 24, 2015 | By | Reply More
US appeals court upholds Shire's patents on hyperactivity drug

US appeals court upholds Shire's patents on hyperactivity drug

REUTERS: A U.S. appeals court has upheld drugmaker Shire’s patents for its top-selling drug Vyvanse, blocking five generic drug makers from launching cheaper versions of the drug to treat attention deficit hyperactivity before 2023. The U.S. Federal Circuit Court of Appeals on Thursday rejected the generic manufacturers’ claims that Shire’s patents were invalid, leaving in […]

September 24, 2015 | By | Reply More
Oil seesaws; Wall Street tumble offsets Cushing draw data

Oil seesaws; Wall Street tumble offsets Cushing draw data

NEW YORK: Oil prices seesawed on Thursday as tumbling stock prices on Wall Street offset bullish sentiment from inventory draws at the U.S. crude delivery hub cited by a market data provider. U.S. equities’ key Standard & Poor’s 500 index fell 1 percent or more as prices of industrial stocks fell on concerns of slowing […]

September 24, 2015 | By | Reply More
Resuming their fall, European stocks close lower

Resuming their fall, European stocks close lower

LONDON: European stock markets closed lower on Thursday (Sep 24) following another volatile day of trading, as a spreading Volkswagen scandal offset positive German data. Investors were also awaiting an update on the outlook for US interest rates, with the euro up against the dollar ahead of a speech later in the day from Federal […]

September 24, 2015 | By | Reply More