Tuesday, August 2nd, 2016


Aetna withdraws plans to expand Obamacare business

BENGALURU/CHICAGO (Aug 2): Aetna Inc said on Tuesday that it no longer planned to expand its Obamacare business next year, and the U.S. health insurer announced the sale of some Medicare Advantage assets as it fights to gain antitrust regulators’ approval for its takeover of Humana Inc. The company, which is losing money on the plans it sells in 15 U.S. states to individuals on exchanges created under President Barack Obama’s national healthcare law, said it also was looking at whether it should continue to offer the contracts.Categories: Latest NewsManagementCorporate Read More

Samsung Electronics unveils new curved-screen Galaxy Note phone in H2 sales push

SEOUL (Aug 2): Samsung Electronics Co Ltd on Wednesday unveiled a new Galaxy Note smartphone with a curved screen and iris-recognition technology, seeking to build on the sales momentum that has helped it roar back to surging profit growth. Samsung, the world’s top smartphone maker, saw its January-June mobile profit jump 49% from a year earlier, thanks to robust sales of its flagship Galaxy S7 devices as well as a line-up overhaul that ditched unpopular models for fewer, but more attractive new mid-to-low tier products.Categories: TechnologyLatest NewsManagementCorporate Source: The EdgeRead More

F&N, Hartalega, MQREIT, KLCC Stapled, AirAsia X, KPJ Healthcare, O&C Resources, Tien Wah Press, Petrol One Resources and Press Metal

KUALA LUMPUR (Aug 2): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Wednesday, Aug 3) may include: F&N, Hartalega, MQREIT, KLCC Stapled, AirAsia X, KPJ Healthcare, O&C Resources, Tien Wah Press, Petrol One Resources and Press Metal. Fraser & Neave Holdings Bhd (F&N)’s net profit rose 12.8% to RM93.55 million in the third quarter ended June 30, 2016 (3QFY16), from RM82.93 million a year ago, mainly on higher contribution from its Thailand operations.Categories: Latest NewsCorporate Source: The Edge Tags: kuala lumpur, reit

Hackers accessed Telegram messaging accounts in Iran -researchers

SAN FRANCISCO/WASHINGTON/UNITED NATIONS/ANKARA (Aug 2): Iranian hackers have compromised more than a dozen accounts on the Telegram instant messaging service and identified the phone numbers of 15 million Iranian users, the largest known breach of the encrypted communications system, cyber researchers told Reuters.Categories: TechnologyLatest News Source: The Edge No tags for this post.

U.S. July auto sales miss estimates as pent-up demand slackens

DETROIT (Aug 2): Four major automakers in the U.S. market on Tuesday reported July vehicle sales slightly below expectations, as the pent-up demand that has helped drive sales since 2009 plays itself out. In a continuing trend, consumers shunned passenger cars in favour of SUVs and pickup trucks. General Motors Co sales fell 2% to 267,258 vehicles, at the low end of analysts’ expectations. GM is No. 1 in U.S. auto sales. Ford Motor Co, No. 2 in U.S. auto sales, said its sales fell 3% in July at 216,479Read More

Singapore bank DBS loaned US$146 mil to Swiber in last two months -documents

SINGAPORE (Aug 2): DBS Group Holdings, Singapore’s biggest bank, made two loans to oil and gas services firm Swiber Holdings totaling US$146 million, weeks before the company filed for liquidation, according to court documents seen by Reuters. Swiber used the money to redeem maturing bonds, an affidavit filed by the company’s chairman Raymond Goh showed. These two loans, made in June and July, accounted for 27% of DBS’s total exposure of S$700 million (US$522.5 million) to Swiber.Categories: Latest NewsManagementCorporate Source: The Edge Tags: bond, loan, singapore

Obama, Singapore leader push Pacific trade deal in state visit

WASHINGTON (Aug 2): President Barack Obama welcomed Singapore’s prime minister for a state visit on Tuesday with a major trade deal and China’s development of islands in the South China Sea at the top of their agenda. Both the United States and Singapore are signatories to the 12 nation Trans-Pacific Partnership (TPP), which Obama hopes Congress will approve before he leaves office in January.Categories: Latest News Source: The Edge Tags: china, january, pacific, singapore

Dollar hits 6-week low as U.S. data clouds rate hike outlook

NEW YORK (Aug 2): The dollar dropped to a six-week low against a basket of currencies on Tuesday, pressured by expectations the Federal Reserve would delay raising interest rates after recent soft U.S. economic data. The U.S. currency also slid to a three-week trough against the yen, as the Japanese government approved a largely expected set of stimulus measures. The dollar fell to its lowest in six weeks against the euro.Categories: Latest News Source: The Edge Tags: dollar drop

IMF urges Japan to coordinate fiscal stimulus with further BOJ easing

TOKYO/WASHINGTON (Aug 2): The International Monetary Fund said Tuesday Japan should coordinate fiscal stimulus with further central bank easing measures that could include rate cuts and more asset purchases. The Fund’s annual report on Japan’s economy came as the country’s government announced a new fiscal stimulus package of 13.5 trillion yen (about US$132 billion) and the central bank announced a comprehensive review of monetary policy, keeping alive expectations for “helicopter money” – printing money for government debt.Categories: Latest NewsManagementCorporate Source: The Edge Tags: central bank

Fed's Kaplan urges patience in raising rates, points to global risks

BEIJING (Aug 2): A raft of global risks that could adversely affect the United States remains on the horizon and requires close monitoring, Dallas Federal Reserve Bank President Robert Kaplan said on Tuesday. Kaplan, along with several other Fed policymakers, has urged renewed caution in trying to lift rates again since the U.S. central bank raised its benchmark interest rate for the first time in almost a decade last December.Categories: Latest NewsManagementCorporate Source: The Edge Tags: central bank