Tuesday, October 4th, 2016

 

Vale goes down market in China in bid to beat Australian rivals

Vale goes down market in China in bid to beat Australian rivals

RIO DE JANEIRO (Oct 4): Vale SA is negotiating partnerships that will help it sell more iron ore to smaller Chinese customers in the country’s interior as part of the Brazilian company’s efforts to take market share from its Australian rivals.

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Source: The Edge Markets


Sanofi to seek US approval for first dengue vaccine in months

Sanofi to seek US approval for first dengue vaccine in months

LONDON (Oct 4): Sanofi plans to seek US approval for its dengue vaccine as early as this year after reaching the market in parts of Latin America and Asia where the mosquito-borne infection is widespread.

The French drugmaker is focusing on the most vulnerable countries before bringing the vaccine, called Dengvaxia, to more developed regions, with a goal of getting the product on the market in about 30 nations from Malaysia to Colombia, Guillaume Leroy, dengue vice president at Sanofi’s vaccines unit, said in an interview Tuesday.

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Source: The Edge Markets


Mieco Chipboard gets MGO from SYF Resources chairman at 90 sen a share

Mieco Chipboard gets MGO from SYF Resources chairman at 90 sen a share

KUALA LUMPUR (Oct 4): Mieco Chipboard Bhd has received a mandatory unconditional offer from SYF Resources Bhd’s chairman cum chief executive officer Datuk Seri Ng Ah Chai, at 90 sen a share for the remaining 43.24% of the particleboard maker’s shares he does not own.

The stake represents some 90.81 million shares, according to the notice of the unconditional takeover offer from RHB Investment Bank Bhd — sent on behalf of Ng — that was received by Mieco today.

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Source: The Edge Markets


Sharapova can play again in April after ban reduced

Sharapova can play again in April after ban reduced

GENEVA (Oct 4): Maria Sharapova said she could not wait to return to tennis next April after the Court of Arbitration for Sport (CAS) reduced the former world number one’s two-year drugs ban by nine months on Tuesday.

Hailing one of the happiest days of her career, the Russian said she had learned a lesson from the “tough months” behind her and hoped the International Tennis Federation (ITF) and anti-doping authorities had also.

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Source: The Edge Markets


Trump takes tumble on Forbes’ rich list as fortunes fall

NEW YORK, Oct 4 ― It seems running for president is hurting Donald Trump’s finances big time. The Republican nominee’s fortune fell US$800 million (RM3.3 billion) last year sending him tumbling 35 spots on a list of richest Americans, Forbes… Source: The Malay Mail Online


Oil touches four-month high as output freeze returns centre stage

Oil touches four-month high as output freeze returns centre stage

LONDON (Oct 4): Brent oil futures touched a four-month high on Tuesday as investor confidence grew in last week’s deal by oil producers to freeze output levels in order to stem a two-year price rout.

Benchmark Brent crude oil futures reached a four-month high of US$51.37 a barrel, but relinquished some of the gains by 1358 GMT, trading at US$51.10, up 21 cents on the previous close.

US West Texas Intermediate (WTI) crude touched the highest level in three months at US$49.13 a barrel earlier in the session before retreating to US$48.87, up 6 cents day on day.

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Source: The Edge Markets


Tenaga, Perisai, Lion Corp, Minetech, Atrium REIT, Aeon Credit, Econpile, Perdana Petroleum, BTM Resources, Sime Darby and Ranhill

Tenaga, Perisai, Lion Corp, Minetech, Atrium REIT, Aeon Credit, Econpile, Perdana Petroleum, BTM Resources, Sime Darby and Ranhill

KUALA LUMPUR (Oct 4): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Wednesday, Oct 5) could include: Tenaga, Perisai, Lion Corp, Minetech, Atrium REIT, Aeon Credit, Econpile, Perdana Petroleum, BTM Resources, Sime Darby and Ranhill.

Tenaga Nasional Bhd‘s wholly-owned subsidiary TNB Global Ventures Capital Bhd has set up a US$2.5 billion (about RM10.34 billion) multi-currency sukuk programme for general corporate purposes.

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Source: The Edge Markets


Hurricane Matthew hammers western Haiti with deadly force

Hurricane Matthew hammers western Haiti with deadly force

LES CAYES, Haiti (Oct 4): The fiercest Caribbean storm in almost a decade ripped into Haiti’s southwestern peninsula early on Tuesday with 145 mile-per-hour (230 kph) winds and storm surges, killing at least one person and damaging homes.

The eye of the violent and slow-moving Category 4 storm was hovering over the western tip of Haiti, the US National Hurricane Center said, pounding coastal villages with strong gusts.

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Source: The Edge Markets


Tech stocks, Deutsche Bank lift Wall Street

Tech stocks, Deutsche Bank lift Wall Street

(Oct 4): Wall Street edged higher on Tuesday morning, helped by a rise in technology stocks and a rebound in Deutsche Bank.

The S&P 500 technology index rose 0.43%, boosted by a 1.2% rise in Apple and a 0.6% rise in Google parent Alphabet.

The benchmark S&P 500 index has been swinging between gains and losses in the past few days as investors await the upcoming corporate earnings season and the outcome of a tight race for the White House.

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Source: The Edge Markets


LVMH buys 80% of German luggage group Rimowa

LVMH buys 80% of German luggage group Rimowa

PARIS (Oct 4): French luxury group LVMH, owner of the Louis Vuitton brand, has agreed to buy an 80% stake in high-tech luggage maker Rimowa for 640 million euros (US$716 million), its first acquisition in Germany.

Founded in Cologne in 1898, Rimowa has built a reputation for designing lightweight and easy to use luggage and expects revenue of over 400 million euros this year.

LVMH is buying the stake from Dieter Morszeck, grandson of the founder of Rimowa, who will retain a stake in the business and maintain his leadership role.

Source: The Edge Markets