Saturday, August 27th, 2016

 

Minister: Iraq willing to play active role in propping up oil prices

BAGHDAD, Aug 27 — Iraq is willing to play an active role within Opec to support oil prices, its oil minister Jabar Ali al-Luaibi said today, without clarifying whether it was prepared to back a possible agreement to freeze output. “Iraq is… Source: The Malay Mail Online


Stronger case for Fed rate hike increases volatility in Asia

TOKYO, Aug 27 — Asian currencies look set for a bumpy ride over the next three months after Federal Reserve Chair Janet Yellen said yesterday that the case for an interest rate has strengthened, amid growing speculation the hike could come as… Source: The Malay Mail Online


Abe tells African leaders Japan to invest US$30b in the continent

NAIROBI, Aug 27 — Japan will invest US$30 billion (RM121.1 billion) in boosting growth in African economies and improving the continent’s infrastructure over the next three years, Prime Minister Shinzo Abe said. The Asian economy’s future… Source: The Malay Mail Online


Redstone family holdout in Viacom deal settles

SAN FRANCISCO, Aug 27 — The struggle for the control of US media giant Viacom appeared to be over after an agreement yesterday with the last member of the majority-shareholding family still challenging a deal reached last week. A spokesman for… Source: The Malay Mail Online


Xinhua: China Fortune 500 index revenues slide for first time

BEIJING, Aug 27 — Revenues at China’s Fortune 500 companies fell in 2016 for the first time in the history of the index, the official Xinhua news agency said today. Total revenues dropped 0.07 per cent year on year in 2016, the first drop in… Source: The Malay Mail Online


S. Korea, Japan to start talks on new forex swap agreement

SEOUL, Aug 27 — South Korea said it will start talks soon with Japan on a new currency swap agreement after the countries’ finance ministers met in Seoul today to bolster defences against global financial uncertainties. “South Korea… Source: The Malay Mail Online


Pound’s best run post-Brexit faces data hurdles next week

LONDON, Aug 27 — The pound is set for a litmus test next week with the release of housing data and purchasing managers’ surveys that might crimp the currency’s best run since May versus the dollar. Sterling climbed for the second week… Source: The Malay Mail Online


Icahn denies attempt to sell Herbalife stock, buys more shares

NEW YORK, Aug 26 — Carl Icahn said he did not attempt to sell his Herbalife Ltd stake, and had instead bought more shares in the health supplements maker, rejecting hedge fund manager Bill Ackman’s claim that he had been offered some of… Source: The Malay Mail Online


Amazon dabbling with 30-hour work weeks

SAN FRANCISCO, Aug 27 — US online retail titan Amazon, which has been accused of fostering a cutthroat workplace atmosphere, will try out teams that log 30-hour work weeks, the Washington Post reported today. The employees will receive the… Source: The Malay Mail Online


Jobs data to be a big deal for record-high stocks

SAN FRANCISCO, Aug 27 — Wall Street will fixate on a wave of US economic data next week, crested by payrolls data today that could sway expectations about the timing of future interest rate hikes and spark volatility in record-high stock prices…. Source: The Malay Mail Online