Saturday, October 8th, 2016


World outlook clouded by protectionism, IMF nations said to warn

WASHINGTON, Oct 8 ― The global economic outlook is increasingly being threatened by protectionism and stalled reforms, and measures are needed to help those left behind by globalisation, policy makers warn in a draft communique of the IMF’s… Source: The Malay Mail Online

Citigroup to sell Brazil retail unit to Itau for US$220m

SAO PAULO, Oct 8 ― Itau Unibanco Holding SA, Latin America’s largest bank by market value, agreed to buy Citigroup Inc.’s retail-banking business in Brazil for 710 million reais (US$220 million/RM915 million), taking over operations that the… Source: The Malay Mail Online

Beijing, Shanghai propose curbs ride-hailing services

BEIJING Oct 8 ― Regulators in Beijing and Shanghai are proposing restrictions on who can operate as drivers for ride-hailing services such as Didi Chuxing and Uber, possibly making it tougher for those services to recruit drivers. Authorities… Source: The Malay Mail Online

UK businesses urge government to rule out “worst” Brexit options

LONDON, Oct 8 ― Britain’s government needs to immediately rule out leaving the European Union without securing preferential access to the bloc’s single market, or investment will suffer, the head of a leading business organisation said… Source: The Malay Mail Online

Jack Ma’s Ant Financial names new CEO

HONG KONG, Oct 8 ― Alibaba Group Holding Ltd.’s financial affiliate has appointed a new chief executive officer as it prepares for a highly anticipated 2017 initial public offering. Zhejiang Ant Small & Micro Financial Services Group Co…. Source: The Malay Mail Online

Pound’s dramatic week leaves traders sceptical of quick recovery

LONDON, Oct 8 ― After a dramatically dismal week for the pound punctuated by a flash crash in Asia, traders doubt it will shake off its tag of the worst-performing major currency in 2016. They’re negative because sterling is held hostage by… Source: The Malay Mail Online

New casino resorts woo Chinese to Macau in Golden Week

HONG KONG, Oct 8 ― Macau, the world’s largest gaming hub, said visitors from mainland China climbed almost 7 per cent from a year earlier during the Golden Week National Holiday, as punters were attracted by two new casino resorts. Mainland… Source: The Malay Mail Online

China central bank injects US$41b via mid-term lending facility in Sept

BEIJING, Oct 8 ― China’s central bank lent 275 billion yuan (US$41.24 billion/RM171 billion) via its medium-term lending facility (MLF) to financial institutions in September, it said in an online statement today. The outstanding amount of… Source: The Malay Mail Online

ABN Amro weighs sale of Asia private-banking business

SINGAPORE, Oct 8 ― ABN Amro Group NV, the state-controlled Dutch lender that returned to the stock market last year, is exploring a sale of its Asia private-banking business, people with knowledge of the matter said. The bank is working with a… Source: The Malay Mail Online

Protectionism a scourge? Maybe not in Africa

WASHINGTON, Oct 8 — World economic leaders gathered in Washington this week to defend globalisation, delivering a single message in unison: Protectionism will not save you. But this glosses over the plight of Africa, which is sinking further… Source: The Malay Mail Online