Monday, March 6th, 2017

 

Thirty die in ethnic group attacks on Myanmar army near China border

Thirty die in ethnic group attacks on Myanmar army near China border

YANGON (March 6): Some 30 people died in clashes between ethnic rebels and Myanmar security forces in a restive area along the border with China on Monday, the government said, dealing a blow to leader Aung San Suu Kyi’s goal of reaching peace with minorities.

Suu Kyi’s nearly one-year-old government is increasingly besieged by ethnic rebels, grappling with an alliance of militias in the north and a new Rohingya insurgency rebelling against decades of persecution in the northwest of the country.

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US factory orders rise for second straight month

US factory orders rise for second straight month

WASHINGTON (March 6): New orders for US-made goods increased for a second straight month in January, suggesting the recovery of the manufacturing sector was gaining momentum as rising prices for commodities spur demand for machinery.

Factory goods orders rose 1.2%, the Commerce Department said on Monday after an unrevised 1.3% jump in December. Economists polled by Reuters had forecast factory orders advancing 1.0% in January.

Factory orders were up 5.5% from a year ago. Total shipments of manufactured goods increased 0.2% after surging 2.5% in December.

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Wall St slips on wiretap accusation, geopolitical worries

Wall St slips on wiretap accusation, geopolitical worries

NEW YORK (March 6): US stocks opened lower on Monday amid losses across sectors as investors’ appetite for risk was curbed by geopolitical tensions in Asia and President Donald Trump’s accusation that his predecessor, Barack Obama, wiretapped him.

Some investors worried that the accusation could distract Trump from his economic agenda of introducing tax cuts and simplifying regulations, which have powered a record-setting rally on Wall Street since the election.

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Wall Street opens lower on political worries

NEW YORK, March 6 — US stocks opened lower today amid losses across sectors as investors’ appetite for risk was curbed by geopolitical tensions in Asia and President Donald Trump’s accusation that his predecessor, Barack Obama, wiretapped…


Russia-China fund, Abu Dhabi’s Mubadala eyeing stake in Eurasia Drilling — sources

Russia-China fund, Abu Dhabi's Mubadala eyeing stake in Eurasia Drilling — sources

MOSCOW/ABU DHABI (March 6): The Russia-China Investment Fund (RCIF) and Mubadala, Abu Dhabi’s state fund, are considering buying a minority stake in Eurasia Drilling Company, Russia’s largest drilling company by metres drilled, three sources close to the talks told Reuters.

In 2015, Eurasia Drilling Company (EDC) delisted its shares from the London Stock Exchange after a deal for the world’s leading oilfield services provider Schlumberger NV to buy a stake in it collapsed.

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Jaya Tiasa sees 2.23% stake traded off market

Jaya Tiasa sees 2.23% stake traded off market

KUALA LUMPUR (March 6): Sarawak-based timber producer Jaya Tiasa Holdings Bhd saw 21.6 million shares representing 2.23% of its equity stake traded off market today.

According to Bloomberg data, the shares were transacted at prices between RM1.06 and RM1.24 over a total of 30 blocks. The combined transactions are valued at RM22.99 million.

At press time, it is unclear who the parties involved in the transactions were.

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Oil majors reverse decade of stalled growth to beat supply crunch fears

Oil majors reverse decade of stalled growth to beat supply crunch fears

LONDON (March 6): Oil majors have long been passive watchers of the pump war between OPEC and US shale producers, but not any more.

Majors were unable to grow output for the past decade even as oil prices soared above US$100 per barrel due bad capital discipline and huge project delays.

The oil price slump since 2014 has prompted the world’s biggest oil firms to drastically cut costs but also to force contractors to make projects more efficient and extract the same amount of barrels for fewer dollars.


Trump’s travel ban is reducing tourist arrivals

Trump’s travel ban is reducing tourist arrivals

(March 6): President Donald Trump’s immigration stance has begun to discourage foreign visits to major US cities, threatening to cost billions of dollars and thousands of jobs.

New York, the nation’s most visited city by people overseas, predicts such trips will drop more than 2 percent this year to 12.4 million, the first decline after eight consecutive annual increases. Los Angeles and Miami may also experience decreases.

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Court rules against Parkson’s Hong Kong unit in shareholding dispute

Court rules against Parkson's Hong Kong unit in shareholding dispute

KUALA LUMPUR (March 6): The Dalian Intermediate Court has ruled against Hefei Parkson Xiaoyao Plaza Co Ltd, an indirect wholly-owned subsidiary of Parkson Retail Group Ltd (PRG), in relation to a shareholding dispute in Anshan Parkson — a department store in Liaoning, China.

Hong Kong-listed PRG is a 54.67%-owned subsidiary of Parkson Holdings Bhd.

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China bulls set to get more ways to bet on surging stocks

China bulls set to get more ways to bet on surging stocks

(March 6): China bulls are set to get more tools to bet on equity gains as the nation’s top underwriter of convertible bonds forecasts more sales.

China International Capital Corp, which has arranged US$7.7 billion of convertible notes onshore and offshore in the past seven years, said issuance may at least double in 2017. While China’s stock regulator last month put restrictions on additional share sales by companies to crack down on excessive fundraising, there was no curb on offerings of convertible debt.

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