Friday, February 19th, 2016


Yahoo hires advisers, forms committee to explore options

NEW YORK (Feb 19): Yahoo! Inc hired financial advisers and formed a committee of independent board members to explore its strategic options, taking steps to transform itself and consider deals, amid rising pressure from investors.Categories: TechnologyLatest NewsManagementCorporate Source: The Edge No tags for this post.

China's Xiaomi to use smartphone chips designed in-house -source

HONG KONG/TAIPEI (Feb 19): China’s most valuable start-up Xiaomi Inc is aiming to use smartphone processor chips designed in-house in some of its lower-priced handsets in the second half of this year, a source with direct knowledge of the matter told Reuters. The move would mark the first time that Xiaomi has used chips designed in-house, something analysts have said could put pressure on industry leaders such as Qualcomm Inc and MediaTek Inc, which supply the company.Categories: TechnologyLatest NewsCorporate Source: The Edge Tags: china

Two migrants drown off Sicily, Italy coastguard says

ROME (Feb 19): Two migrants drowned off the coast of Sicily, Italy’s coastguard said on Friday, adding to the thousands who have died in the Mediterranean in the last year as European Union leaders argued in Brussels over how to deal with the crisis. A coastguard helicopter saw the two corpses floating in the sea off the coast of Siculiana in Western Sicily, a spokesman said, adding that only one of the two bodies has so far been picked up.Categories: Latest News Source: The Edge No tags for this post.

Copper claws to near two-week peak, zinc gains

LONDON (Feb 19): Copper hit its highest level in nearly two weeks on Friday and zinc also rallied on brighter prospects for Chinese demand and concern about the potential for looming shortages. Copper was set to post a fourth weekly gain in five, as traders bought into low prices to build stocks ahead of a stronger season for demand in top user China. “There are a number of factors that have come into play that suggests we’re at a market bottom,” said Wiktor Bielski, head of commodities research at VTBRead More

Citigroup to exit retail banking in Brazil, Argentina

BENGALURU (Feb 19): Citigroup Inc said it plans to exit its retail banking and credit card operations in Brazil, Argentina and Colombia as part of efforts to aggressively cut costs and boost profitability. Shares of the bank, which has operated in both Argentina and Brazil for more than 100 years, were nearly flat in premarket trading on Friday. The U.S. bank, built with a series of acquisitions spanning back to the 1980s, has been trying to slim down since the financial crisis to be as profitable as its rivals.Categories: LatestRead More

Oil prices set to end week higher on output freeze talk, but stocks build

LONDON/SINGAPORE (Feb 19): Oil prices fell on Friday but are set for their first weekly increase this month, as talk of a coordinated plan by producers to freeze output levels was tempered by a record build in U.S. crude inventories. Brent futures were down 45 cents at US$33.83 a barrel by 1236 GMT, with U.S. crude falling by 46 cents to US$30.31. Oil prices had risen by more than 14% earlier in the week on Saudi Arabia and Russia’s agreement to freeze output at January levels.Categories: Latest News Source: TheRead More

Missing Parliament doctor found, cops rule out foul play

KUALA LUMPUR (Feb 19): Police have found missing Parliament medical officer, Dr B. Sugumaran, at a hotel in Pudu, The Star Online reports. The 50-year-old bachelor, who has been missing since Jan 3, was found safe at a hotel in Pudu, Kuala Lumpur. “He has been staying there since Feb 16 and there was no criminal element involved,” the daily quoted city CID chief, SAC Datuk Zainuddin Ahmad, as saying. Police had set up a special team to trace Dr Sugumaran following a police report by Ipoh Barat MP, M.Read More

Three months to decide new levy on foreign workers, says Zahid

KUALA LUMPUR (Feb 19): Home Ministry secretary-general Datuk Seri Alwi Ibrahim has been given three months to study appeals from industry players on the levy for foreign workers, as well as the issue of illegal foreign workers, Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said. “We are are asking the 20 associations we met (in Putrajaya on Feb 16) to do their study before we meet again to discuss what is the figure that is acceptable to both sides,” Zahid told reporters at a Chinese New Year gathering atRead More

Futures lower as oil rally falters

BENGALURU (Feb 19): U.S. stock index futures were lower on Friday, after a rally in oil prices fizzled out. Crude prices fell about 2%, with U.S. crude hovering at US$30 per barrel after a record increase in U.S. stockpiles. Oil prices and the stock market have moved in lockstep for much of the year, as investors look at demand for energy for a bearing on global economic health. European stocks were also pushed back, while Asian shares slipped from near three-week highs.Categories: Latest NewsCorporate Source: The Edge Tags: global economic,Read More

Malakoff's 4Q net profit falls 5% on higher maintenance cost, lower forex gain

KUALA LUMPUR (Feb 19): Malakoff Corp Bhd saw its net profit fall 5% to RM107.02 million or 2.14 sen per share in the fourth quarter ended Dec 31, 2015 (4QFY15), from RM112.69 million or 3.15 sen per share a year ago, on higher maintenance cost and lower foreign exchange gain. Revenue also dropped 7.2% to RM1.38 billion, from RM1.48 billion in 4QFY14.Categories: Latest NewsCorporate Source: The Edge Tags: forex, kuala lumpur