Sunday, October 16th, 2016


BRICS agrees to fast-track new credit rating agency

BENAULIM (India), Oct 16 — The BRICS nations agreed today to fast-track the setting up of their own credit-rating agency to better cater to developing economies, rivalling existing ones based in Western countries. Prime Minister Narendra Modi… Source: The Malay Mail Online

Saudi Oger seeking buyers for US$1b Arab Bank stake, say sources

DUBAI, Oct 16 — Saudi Oger has begun talks with potential buyers for its 20.93 per cent stake in Arab Bank in a deal that could raise about US$1 billion (RM4.2 billion) for the embattled construction giant, sources aware of the matter told… Source: The Malay Mail Online

Fifteen Swiss banks reported in money-laundering ‘red zone’

VIENNA, Oct 16 — Roughly 15 Swiss banks are in a “red zone” of lenders particularly exposed to money-laundering risks, the head of Swiss banking watchdog Finma said in a newpaper interview published today. Swiss federal prosecutors last… Source: The Malay Mail Online

Global economic recovery ‘still treacherous’, says China’s Xi

BENAULIM (India), Oct 16 — Chinese President Xi Jinping said that the global economic economy remained treacherous as he attended a summit of BRICS leaders in India today. “The global economy is still going through a treacherous recovery,”… Source: The Malay Mail Online

UK’s May to take small businesses on trade visit to India in November

LONDON, Oct 16 — Theresa May will take small-business representatives with her when she travels to India in November for what will be her first trade mission since becoming UK prime minister. The three-day visit will be part of May’s efforts… Source: The Malay Mail Online

Amid fried chicken craze, foreign firms ruffle Korean feathers

SEOUL, Oct 16 — Don’t count your chickens before they hatch. Global poultry producers hoping to cash in on South Korea’s craze for fried chicken and beer face a market crowded with local birds that have clipped prices and profits for… Source: The Malay Mail Online

After phasing out scare, all eyes on ECB’s stimulus plans

FRANKFURT, Oct 16 — European Central Bank chief Mario Draghi will be under pressure this week to clarify the bank’s stimulus plans after investors were spooked by talk of an end to its massive bond-buying programme. The ECB governing council… Source: The Malay Mail Online

BASF Chemicals invests an additional RM2b in Pahang

GEBENG, Oct 16 — BASF Petronas Chemicals Sdn Bhd (BPC) has invested an additional RM2 billion for the development of three new plants at its integrated petrochemical complex here. This brings total investments at the site to RM5.4 billion,… Source: The Malay Mail Online

Thousands march in Europe against EU-Canada trade deal

PARIS, Oct 16 — Thousands of people demonstrated yesterday in France, Spain and Poland against a EU-Canada free trade deal and a far more ambitious agreement with the United States. Activists charge that the Canada deal will set a dangerous… Source: The Malay Mail Online

Food trucks: Rolling with the times

  Food trucks are staunchily going ahead with their businesses, remaining undeterred by the lack of help of legislative push in the state while encouraged by local food enthusiasts critical of a new business model in town. While there are still no specific licenses that can be applied for the operation of a food truck […] Source: Borneo Post Online