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Business News

Business News


Euro scales five-month peak Monday on French election relief

Mon, 24 Apr 2017 06:46:23 +08:00

SYDNEY: The euro vaulted to five-month peaks in choppy Asian trading on Monday after the market's favored candidate won through the first round of the French election, sparking a mass unwinding of safe-haven trades.E-mini futures for the S&P 500 climbed 0.9 percent in early trade, while futures for the 10-year U.S. Treasury note sank 25 ticks. Centrist Emmanuel Macron took a big step toward the French presidency on Sunday by winning the first round of voting and qualifying for the May 7 runoff alongside far-right leader Marine Le Pen.

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Kuwait court backs government over petrol price hikes

Sun, 23 Apr 2017 22:53:51 +08:00

KUWAIT CITY: Kuwait’s appeals court ruled Sunday that a government decision to raise petrol prices was in line with the constitution, overturning a decision by a lower court.The Kuwaiti government adopted austerity measures, including a hike in fuel prices, following a budget shortfall. The AFP photo shows the Shuaiba oil refinery south of Kuwait City.

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Go Auto to invest RM2bil to strengthen position in Malaysia, Asean

Sun, 23 Apr 2017 22:14:20 +08:00

SHANGHAI: Go Auto Group of Companies (Go Auto) and its Chinese partner, Great Wall Motors Company Ltd (GWM), are allocating up to RM2bil investment until 2021 to upgrade its assembly and production facilities in Gurun, Kedah.A Haval H2 from Great Wall Motors being displayed at the Shanghai Auto Show. - Reuters pic

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Petronas seeks partner, not buyer, for Sarawak gas field

Sun, 23 Apr 2017 21:47:49 +08:00

KUCHING: National oil corporation Petronas is in the process of selecting a partner to co-develop its SK316 gas field in Sarawak, not looking to sell it as reported by some media, said its president and chief executive officer Datuk Wan Zulkiflee Wan Ariffin.Petronas vice-president Muhammad Zamri Jusoh (third from right) holds the MoU document with Yayasan Hartanah Bumiputera Sarawak deputy chairman Tan Sri Abdul Aziz Husain. Also present are Abang Johari (fourth from right), Sarawak Deputy Chief Minister Datuk Amar Douglas Uggah Embas (second from right) dan Wan Zulkiflee (right).

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The county at the centre of a Chinese debt crisis

Sun, 23 Apr 2017 16:48:35 +08:00

Aluminium producer in Zouping, Shandong province, borrowed billions as it expanded into property development, power cables, ceramics and even a five-star hotelCollaboration between a big borrower, a number of creditor banks and a local government to roll over credit or even to bail out a troubled borrower has become a common practice in China

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Germany not worried by US corporate tax reform plans

Sun, 23 Apr 2017 16:34:37 +08:00

BERLIN: German Finance Minister Wolfgang Schaeuble is not worried by the prospect of cuts to corporate tax rates in the United States he told German magazine Wirtschaftswoche on the sidelines of the IMF and World Bank spring meetings in Washington.During the 2016 election campaign, Trump initially issued a plan that included proposals for cuts in tax rates for individuals and corporations, a repeal of the estate tax, an offshore profits.

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China vows greater scrutiny of insurers in risk crackdown

Sun, 23 Apr 2017 16:30:41 +08:00

BEIJING: China's insurance regulator said on Sunday it will ramp up its supervision of insurance companies to make sure they comply with tighter risk controls and threatened to investigate executives who flout rules aimed at rooting out risk-taking.China Insurance Regulatory Commission has told companies to strengthen controls in 10 areas, including liquidity risk and capital management - Xinhua

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China WMP growth eases in Q1 amid crackdown

Sat, 22 Apr 2017 18:08:38 +08:00

SHANGHAI/BEIJING: The growth of Chinese wealth management products (WMPs) and interbank liabilities eased in the first quarter of the year, China's banking regulator said late on Friday, amid a crackdown by Beijing on risky behaviour in the financial markets.China Banking and Regulatory Commission recently upped its campaign against risky lending

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PBOC says China 6.5 pct growth target within reach

Sat, 22 Apr 2017 18:02:19 +08:00

SHANGHAI: China's 2017 growth target of 6.5 percent is "within reach", the governor of the country's central bank said in a statement on Saturday, amid stronger economic signs at the start of the year.Zhou Xiaochuan, governor of the People's Bank of China.

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How lottery winners lose and what to learn from them

Sat, 22 Apr 2017 17:49:35 +08:00

WHAT is the best way to invest your winnings after striking the lottery? By buying more lottery tickets of course! Actually, don’t do that.

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