Saturday, July 9th, 2016

 

China vows to act with G20 partners to boost world trade

SHANGHAI, July 9 — China will work with its G20 partners to promote global trade growth, Beijing’s commerce minister said today, as the world’s top economies met in Shanghai. Global trade is expected to grow at a tepid 2.8 per cent in 2016, the World Trade Organisation (WTO) said in April, with uncertainty over Britain’s decision to leave the EU only adding to concerns. “The economic recovery and growth is still feeble and global trade is fluctuating at a low level,” Gao Hucheng said before ministers began talks, vowing: “ChinaRead More


Plunging pound’s fate seen clearer after BOE meets post-Brexit

LONDON, July 9 ― Traders will be watching the Bank of England’s first policy meeting since the Brexit referendum for fresh reasons to sell the pound. Speculation is building that BOE Governor Mark Carney will use the Thursday gathering to follow up on his pledge to take whatever steps are necessary to spur the economy. The chances of the central bank cutting interest rates by July 14 have jumped to 74 per cent, from 11 per cent just before the decision to leave the European Union was announced. While lowerRead More


Recode: Twitter seeks NBA, MLS, Turner deals to stream sports

SAN FRANCISCO, July 9 ― Twitter Inc is in talks with the NBA, Major League Soccer and Time Warner Inc’s cable network Turner Broadcasting to buy digital streaming rights for content related to major sports and events, Recode reported. This content could either be actual game footage or live interviews and analysis, the technology news website reported, citing people familiar with the talks. Twitter shares rose 3.5 per cent to US$17.97 (RM71.92) in late morning trading yesterday. The report comes two months after the microblogging service provider struck a dealRead More


Ringgit to hover around at current level next week

KUALA LUMPUR: The ringgit is likely to hover around current levels next week amid mixed market sentiment mostly influenced by external developments, dealers said. © New Straits Times Press (M) Bhd Source: New Straits Times Tags: kuala lumpur


Mavcap investee companies

 <b>SuperSeed Fund</b> © New Straits Times Press (M) Bhd Source: New Straits Times No tags for this post.


Mavcap continues to empower businesses

KUALA LUMPUR: Malaysia Venture Capital Management Bhd (Mavcap), the country’s largest venture capital (VC) company, is upbeat about bringing new investments and will continue to invest locally and worldwide despite market uncertainties. © New Straits Times Press (M) Bhd Source: New Straits Times Tags: kuala lumpur, malaysia


Ringgit to hover around at current level next week

KUALA LUMPUR: The ringgit is likely to hover around current levels next week amid mixed market sentiment mostly influenced by external developments, dealers said. The ringgit, which had just recovered from the post-Brexit sentiment, edged down on stronger dollar following the release of Thursday’s better-than-expected US employment data which indicated that the labour market was back on track. Nevertheless, the minutes of the US Federal Reserve June policy meeting, released on Wednesday, showed that policymakers kept interest rate hikes on hold as they assessed the Brexit impact. “This somewhat mitigatedRead More


Rangebound play expected to dominate trading on Bursa Malaysia next week

KUALA LUMPUR: Rangebound trading, prompted by global economic confidence, the withdrawal of the United Kingdom from the European Union (Brexit) and the health of the US job market, is expected to dominate sentiment on Bursa Malaysia next week. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) could possibly trade between 1,635 and 1,655 before looking to retest its psychological resistance level of 1,700 in the near-term, said a senior equity trader. “Near-term sentiment remains positive for the local market unless there is any unpredicted Brexit-related event or major upset fromRead More


Short-term rates expected to remain stable next week

KUALA LUMPUR, July 9 ― The Malaysian money market is likely to remain stable next week on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system. The central bank is expected to conduct daily tenders to reduce excess liquidity from the financial market. For the week just-ended, BNM intervened on a daily basis to absorb excess funds by conducting several tenders namely conventional money market, range maturity auction and Qard tender.  Yesterday, BNM’s action helped reduce the market’s liquidity surplus in the conventional system to RM26.93Read More


Rangebound trading expected to dominate sentiment on Bursa Malaysia next week

KUALA LUMPUR, July 9 ― Rangebound trading, prompted by global economic confidence, the withdrawal of the United Kingdom from the European Union (Brexit) and the health of the US job market, is expected to dominate sentiment on Bursa Malaysia next week. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) could possibly trade between 1,635 and 1,655 before looking to retest its psychological resistance level of 1,700 in the near-term, said a senior equity trader. “Near-term sentiment remains positive for the local market unless there is any unpredicted Brexit-related event orRead More