Saturday, August 20th, 2016

 

Urjit Patel named new Indian central bank governor

NEW DELHI, Aug 20 — The Indian government today named insider Urjit Patel as the new governor of the Reserve Bank of India, to replace popular central banker Raghuram Rajan when his term ends in September. “Dr Urjit R Patel new Governor of… Source: The Malay Mail Online


Old Mutual goes bullish on pound as post-Brexit data surprise

LONDON, Aug 20 — The world’s worst-performing major currency of 2016 is starting to win some friends. Old Mutual Asset Managers Plc, which oversees €327 billion (RM1.7 trillion), said it turned bullish on the pound after UK economic data… Source: The Malay Mail Online


Sources say Uber told investors it won’t pay above US$2b for Lyft

SAN FRANCISCO, Aug 20 — As Lyft Inc was gauging interest from prospective acquirers, executives from Uber Technologies Inc told investors in the past few weeks that the company wouldn’t pay more than US$2 billion (RM8 billion) to purchase its… Source: The Malay Mail Online


BOJ’s Kuroda says won’t rule out deepening negative rate cut

TOKYO, Aug 20 — The Bank of Japan will not rule out deepening a cut to negative rates it introduced in February, the Sankei newspaper quoted Governor Haruhiko Kuroda as saying, even as the controversial policy has failed to spur inflation or… Source: The Malay Mail Online


Ringgit to stage further recovery next week

KUALA LUMPUR, Aug 20 — The ringgit will likely stage further recovery against the US dollar at below 4.0 level next week, tapping on the greenback’s weaknesses, an analyst said. FXTM Vice President of Corporate Development and Market… Source: The Malay Mail Online


Bursa Malaysia to test 1,700 resistance level next week

KUALA LUMPUR, Aug 20 — Bursa Malaysia will likely test the 1,700 resistance level next week, fueled by improving commodity prices and favourable external factors. Affin Hwang Investment Bank Vice-President/Retail Research Head Datuk Dr Nazri… Source: The Malay Mail Online


Malaysian Govt, Grab in talks to promote level playing field

Malaysian Govt, Grab in talks to promote level playing field

KUALA LUMPUR (Aug 20): Electronic ride-hailing entity Grab has been talking to the Malaysia’s Land Public Transport Commission to promote a level playing field in the taxi and ride-hailing fraternity.

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Source: The Edge Markets


Lochte apologises, team mate pays fine for lying to Brazil police

MIAMI/RIO DE JANEIRO (Aug 20): U.S. Olympic gold medallist swimmer Ryan Lochte issued an apology on Friday and his teammate Jimmy Feigen paid 35,000 reais ($11,000) to a charity after Brazilian police said they lied about being robbed at gunpoint at the weekend.

Rio Games organisers hope the swimmers’ atonement, combined with an official apology from the U.S. Olympic Committee, will draw a line under a controversy that has dominated news coverage of South America’s first Olympics and embarrassed the host city.

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Source: The Edge Markets


Turkey keeps Fitch investment grade; outlook cut to negative

Turkey keeps Fitch investment grade; outlook cut to negative

ANKARA (Aug 20): Turkey kept its investment grade credit ranking at Fitch Ratings, while the outlook was cut to negative from stable, as a failed coup attempt last month increased the political risks in the country.

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Source: The Edge Markets


Zuckerberg sells $95 million in Facebook shares for philanthropy

Zuckerberg sells $95 million in Facebook shares for philanthropy

SAN FRANCISCO (Aug 20): Facebook Inc. Chief Executive Officer Mark Zuckerberg has made his first big share sale to fund his family’s philanthropic initiative.

The sale of more than 760,000 shares of Facebook stock, valued at about $95 million, was made by Chan Zuckerberg Initiative Holdings and the Chan Zuckerberg Foundation, according to a regulatory filing Friday. The price of the shares ranged from $122.85 to $124.31.

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Source: The Edge Markets