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Xiaomi Starts Taking Orders for Up to RM24.4 billion Hong Kong IPO

Xiaomi Starts Taking Orders for Up to RM24.4 billion Hong Kong IPO

The price range values Beijing-based Xiaomi at $53.9 billion(RM216 billion) to $69.8 billion(RM280 billion), assuming a so-called over-allotment option isn’t exercised, the terms show. The Xiaomi Corp. Mi MIX 2S smartphone sits on display at an unveiling event in Shanghai, China. (Bloomberg pic) HONG KONG: Xiaomi Corp. started taking orders for the world’s biggest initial […]

June 21, 2018 | By | Reply More
Shell sells US$1.3 billion O&G assets in Norway, Malaysia

Shell sells US$1.3 billion O&G assets in Norway, Malaysia

This brings the total assets Shell has sold or agreed to sell since 2015 to around US$27 billion. Shell will remain present in oil-rich Norway through its stakes in several fields, including Ormen Lange and Knarr. (Reuters pic) LONDON/OSLO: Royal Dutch Shell yesterday announced the sale of oil and gas assets in Norway and Malaysia […]

June 21, 2018 | By | Reply More
Toyota, pressed to innovate, is cutting marketing costs to fuel research

Toyota, pressed to innovate, is cutting marketing costs to fuel research

One of the company’s first moves was to cancel contracts with the China unit of its long-term communication and advertising agency, Dentsu Inc, the sources said. A visitor takes pictures of a Toyota concept car during a media preview of the Auto China 2018 motor show in Beijing, China. (Reuters pic) BEIJING: Toyota has begun […]

June 21, 2018 | By | Reply More
Critics want to revoke Trump Hotel’s liquor license

Critics want to revoke Trump Hotel’s liquor license

Local law requires liquor license holders to be “of good character.” Former judges, and two rabbis are among those seeking revocation of the liquor license for President Donald Trump’s Washington hotel, saying he lacks “good character”. (AFP pic) WASHINGTON: Religious leaders and former judges filed a complaint Wednesday asking Washington authorities to revoke the Trump […]

June 20, 2018 | By | Reply More
Nasdaq ends at record on tech, media strength; Dow dips

Nasdaq ends at record on tech, media strength; Dow dips

Wednesday’s trading marked the latest occasion that the Nasdaq has outperformed the other two indices amid sharpening trade rhetoric between the US and China. (Bloomberg pic) NEW YORK: The Nasdaq jumped to a fresh record on Wednesday, boosted by tech and media shares, while the Dow continued to be weighed down by trade war anxiety. […]

June 20, 2018 | By | Reply More
Daimler sees lower 2018 profit, blames trade war, emissions clamp-down

Daimler sees lower 2018 profit, blames trade war, emissions clamp-down

Daimler earnings before interest and taxes (EBIT) would now be slightly below the previous year’s level, rather than slightly above. Daimler Chief Executive Dieter Zetsche arrives for a meeting with German Transport Minister Andreas Scheuer in Berlin, Germany. (Reuters pic) FRANKFURT: Daimler on Wednesday said profit would fall in 2018 as new import tariffs on […]

June 20, 2018 | By | Reply More
Amazon, Berkshire, JPMorgan name Atul Gawande CEO of healthcare venture

Amazon, Berkshire, JPMorgan name Atul Gawande CEO of healthcare venture

Amazon, Berkshire and JPMorgan announced the joint venture in January, saying US healthcare costs were rising too fast and holding back economic growth. An Amazon package is seen after being delivered in London, Britain. (Reuters pic) NEW YORK: Well-regarded surgeon and author Atul Gawande, a critic of his industry’s medical practices, will lead the new […]

June 20, 2018 | By | Reply More
Trump is said to argue ZTE fine, penalties are punishment enough

Trump is said to argue ZTE fine, penalties are punishment enough

He hopes to soften a provision in defense policy legislation that would reimpose a ban on ZTE doing business with its US suppliers, a sanction that would essentially close the company. A man rides a motorcycle past a ZTE Corp. building in Beijing, China, on Thursday, May 24, 2018. (Bloomberg pic) WASHINGTON: President Donald Trump […]

June 20, 2018 | By | Reply More
End of Putin’s middle class boom turns savings into a luxury

End of Putin’s middle class boom turns savings into a luxury

The share of incomes held as savings is now near the lowest since President Vladimir Putin came to power in 2000, even though surveys suggest every fourth person says the time is now right to stash away money. (Bloomberg pic) MOSCOW: Even setting money aside is becoming a luxury, affordable to few Russians in an economy […]

June 20, 2018 | By | Reply More
Volvo fears for future of global trade as first US plant opens

Volvo fears for future of global trade as first US plant opens

With the latest model accounting for less than 9% of Volvo’s US sales this year through May, most of Volvo’s lineup will still be exposed to import taxes. (Bloomberg pic) NEW YORK: When Volvo Car Group broke ground on its first US assembly plant in 2015, it was a proud proof point for the Swedish […]

June 20, 2018 | By | Reply More