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China and US to resume low-level talks in bid to resolve trade war

China and US to resume low-level talks in bid to resolve trade war

China’s equity market has suffered declines and the yuan has been on a losing streak for more than a month. A container ship sits moored at the Yangshan Deep Water Port in this aerial photograph taken in Shanghai, China. (Bloomberg pic) BEIJING: Donald Trump’s top economic adviser welcomed China saying it will send Vice Commerce Minister […]

August 16, 2018 | By | Reply More
Erdogan moves to shore up alliances as US standoff deepens

Erdogan moves to shore up alliances as US standoff deepens

Erdogan’s overtures to Europe suggest he’s prepared to mend ties strained by past diplomatic clashes in an attempt to weather the US pressure. A trader watches a speech by Berat Albayrak, Turkey’s finance minister, broadcast on a digital screen at the Borsa Istanbul SA stock exchange in Istanbul, Turkey. (Bloomberg pic) DUBAI: President Recep Tayyip […]

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Elon Musk picks his coziest bank to help go private

Elon Musk picks his coziest bank to help go private

While Musk may be fed up with being CEO of a public company, he’s still keen to stay close to the establishment by showing favour for a Wall Street giant. Elon Musk, CEO of Tesla Inc. (Bloomberg pic) SOUTHFIELD: Who else, but Goldman Sachs? As he attempts to lead Tesla Inc.’s potential exodus from the […]

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Tencent slump shows what happens when Beijing flips the switch

Tencent slump shows what happens when Beijing flips the switch

Tencent tumbled on Thursday after reporting its first profit drop in a decade as Chinese authorities froze approval of digital games the company needs to make money. The welcome screen for the Tencent Holdings Ltd. QQ messaging application is seen in this arranged photograph taken in Hong Kong, China. (Bloomberg pic) HONG KONG: China long […]

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July auto sales second highest monthly TIV in industry’s history

July auto sales second highest monthly TIV in industry’s history

PETALING JAYA: The automotive industry recorded its second highest monthly total industry volume (TIV) last month with 68,465 units sold, said the Malaysian Automotive Association (MAA). The association said in a statement yesterday that the sales performance was driven by reduction in prices due to the zero-rated goods and services tax (GST). “At 68,465 units, […]

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Sliding currencies trigger palm oil demand concerns

Sliding currencies trigger palm oil demand concerns

KUALA LUMPUR: Sliding emerging market currencies are ringing alarm bells among traders concerned that palm oil demand will weaken across the region from China to Iran, as reduced purchasing power cuts into imports into countries like Turkey and India. With a plunging Turkish lira dragging down peer currencies, traders say they already see Indian buyers […]

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14 tender packages for food & beverage outlets at KLIA issued

14 tender packages for food & beverage outlets at KLIA issued

PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) has issued 14 tender packages for retail as well as food and beverage (F&B) outlets at Kuala Lumpur International Airport (KLIA). The packages comprising 22 lots in total and are divided into two groups; package deal category and standard category, it said in a statement. Under the package […]

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Yuan bears squeezed as cost to short surges most since 2016

Yuan bears squeezed as cost to short surges most since 2016

The cost of bearish wagers on the Chinese currency soared the most since January 2016 on Thursday. Chinese yuan coins are arranged for a photograph in Beijing, China. (Bloomberg pic) HONG KONG: Betting against the yuan just got a whole lot more expensive. The cost of bearish wagers on the Chinese currency, as reflected in […]

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Jokowi plans record spending in Indonesia’s election year

Jokowi plans record spending in Indonesia’s election year

Jokowi’s ambitious fiscal targets could boost investors’ sentiment amid an emerging-market rout that’s hit Indonesia hard this year. Joko Widodo, Indonesia’s president, center, waves to his supporters after submitting his nomination papers to the General Election Commission in Jakarta, Indonesia. (Bloomberg pic) JAKARTA: Indonesian President Joko Widodo plans a record spending next year to support […]

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Ringgit ends lower against US dollar

Ringgit ends lower against US dollar

KUALA LUMPUR: The ringgit ended lower against the US dollar today on lack of buying interest ahead of the release of Malaysia’s second-quarter gross domestic product figures tomorrow, said a dealer. At 6pm, the local unit closed at 4.1030/1070 against the greenback from 4.1020/1050 on Wednesday. The dealer said the market was quiet in the […]

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