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Labor activists: Pacific trade deal puts profit over people

Labor activists: Pacific trade deal puts profit over people

While investor rights are protected, human rights are “relegated to unenforceable side agreements, aspirational multilateral protocols, spotty national laws and no accountability”. BOGOR: Labor activists worry that a US-led free-trade deal under negotiation will prioritize corporate profits over workers’ rights and pressure governments to bow to the will of investors. Trade ministers from the 12 […]

August 11, 2015 | By | Reply More
Bursa Malaysia opens mixed

Bursa Malaysia opens mixed

KUALA LUMPUR: Bursa Malaysia opened mixed this morning after closing sharply lower yesterday and amid an overnight rally on Wall Street, dealers said. At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.02 points down at 1,651.35, after opening 0.93 point easier at 1,653.44. However, gainers led losers 199 to 93, while […]

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Ringgit continues slump against US dollar

Ringgit continues slump against US dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar Tuesday as foreign banks continued to offload the local note, a currency trader said. At 9.18am, the ringgit was quoted at 3.9330/9380 against the greenback from 3.9270/9300 at 5pm yesterday. “The ringgit continued to be pressured by a lack of domestic leads and falling crude […]

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Indonesian alcohol market faces price headache after tariff hike

Indonesian alcohol market faces price headache after tariff hike

JAKARTA: A steep increase in Indonesia’s import tariffs on wine and spirits could more than double prices that were sky-high already, denting demand and raising the risk of smuggling, drinks industry executives say. Under new tariffs that came into effect on July 23, importers have to pay 90 percent on the value of wine and […]

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Google morphs into Alphabet Inc, investors cheer clarity

Google morphs into Alphabet Inc, investors cheer clarity

SAN FRANCISCO: Google Inc announced a major shake-up of its operating structure on Monday, creating a holding company called Alphabet which will contain subsidiaries to separate its core web advertising business from newer ventures like driverless cars. The move appeared to be an attempt to let the search engine giant focus on its more creative […]

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Citigroup in $13.5 million settlement over defunct CSO hedge fund

Citigroup in $13.5 million settlement over defunct CSO hedge fund

August 11, 2015 NEW YORK: Citigroup Inc agreed to pay $13.5 million to settle a lawsuit accusing the bank of deceiving investors into remaining in its Corporate Special Opportunities hedge fund, only to suffer big losses when the fund was liquidated in November 2008, court papers filed on Monday show The lawsuit accused Citigroup and […]

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Adobe joins tech industry push in increasing maternity, parental leave

Adobe joins tech industry push in increasing maternity, parental leave

NEW YORK: Software company Adobe Systems Inc. said on Monday it is doubling the maternity leave it grants, making it the third company in the US technology industry in a week to give new parents more paid time off. New mothers at the California-based firm will receive 26 weeks of paid leave, up from 12 […]

August 10, 2015 | By | Reply More
Comrade capitalism: North Korea seeks investors for brewery

Comrade capitalism: North Korea seeks investors for brewery

SEOUL: For the boldest frontier market investor: North Korea is looking to raise $39 million from foreign investors to fund a new brewery in Wonsan, an eastern port city where leader Kim Jong Un has big development ambitions. The isolated country recently announced more than 100 separate projects seeking foreign investment in the Wonsan-Kumgang Development […]

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Scomi secures RM140m worth of marine contracts

Scomi secures RM140m worth of marine contracts

PETALING JAYA: Scomi Energy Services Bhd’s marine services has secured more than RM140 million worth of contracts in the last four months mainly for transportation of coal and provision of offshore vessel services to clients in Indonesia, Malaysia and Thailand. Its president of marine services, Mukhnizam Mahmud said, the company’s target market remains in the […]

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Mimaland ends JV with Magna

Mimaland ends JV with Magna

PETALING JAYA: MPHB Capital Bhd’s 98.2%-owned unit, Mimaland Bhd, has terminated its joint venture agreement (JVA) with Bandar Raya Developments Bhd (BRDB) unit, Magna Senandung Sdn Bhd. In a stock exchange filing yesterday, MPHB said that Mimaland had entered into a deed of termination with Magna Senandung to mutually terminate the JVA. Both companies had […]

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