Monday, March 27th, 2017

 

Israel’s Netanyahu pledges to work with Trump on peace efforts

Israel's Netanyahu pledges to work with Trump on peace efforts

WASHINGTON (March 27): Israeli Prime Minister Benjamin Netanyahu said on Monday he was committed to working with US President Donald Trump to advance peace efforts with the Palestinians and with the broader Arab world.

Netanyahu made the pledge in a speech to the largest US pro-Israel lobbying group at a time when the Trump administration is seeking agreement with his right-wing government on limiting settlement construction on land the Palestinians want for a state, part of a US bid to resume long-stalled peace negotiations.

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Trump’s son-in-law to oversee government revamp — official

 Trump's son-in-law to oversee government revamp — official

WASHINGTON (March 27): US President Donald Trump on Monday will announce that his son-in-law, Jared Kushner, will oversee a broad effort to overhaul the federal government, a White House official confirmed.

Kushner, who is married to Trump’s daughter Ivanka Trump and currently serves as a senior adviser, will lead the newly formed White House Office of American Innovation to leverage business ideas and potentially privatize some government functions, the official said, confirming a Washington Post story.

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Trump policy travails could boost appeal of Asia’s markets

Trump policy travails could boost appeal of Asia's markets

(March 27): It’s becoming increasingly clear that President Donald Trump will face difficulties implementing his agenda, despite the “unified” Republican control of the executive and legislative branches of government. That agenda included protectionist moves against countries enjoying trade surpluses with the US — and many of those are in Asia.

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Qatar set to invest £5b in UK over next five years

LONDON, March 27 — Qatar will invest £5 billion in Britain within five years in a boost for the post-Brexit economy, Prime Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani announced today. “Over the next three to five years Qatar will…


Myer shares soar 18%, the most on record, on block trade

Myer shares soar 18%, the most on record, on block trade

(March 27): Shares in Australian department-store chain Myer Holdings Ltd rose the most on record after a 10th of shares outstanding changed hands about 30 minutes before markets closed in Sydney.

The stock climbed 18 percent, the most since Melbourne-based Myer was taken public by private-equity firm TPG Capital LP in 2009. Trading volume soared after the 82.1 million share block crossed at 3.28pm and ended the session at 117.4 million shares. The buyer of the stake, who paid A$1.15 a share, is required by local regulations to make an announcement within two business days.

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Saudi cuts taxes on oil firms ahead of Aramco sale

RIYADH, March 27 — Saudi Arabia today cut taxes on oil companies in a major move that could attract investments in its energy giant Aramco, expected to be offered to investors in 2018.  King Salman decreed a new set of income tax rates on oil…


Qatar announces focus for £5 bil UK investment plan

Qatar announces focus for £5 bil UK investment plan

LONDON (March 27): Qatar’s plan to invest £5 billion in Britain over the next five years will focus on energy, infrastructure, real estate and services, Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani said on Monday.

“Over the next three to five years Qatar will invest five billion (pounds) in the UK economy through various investment funds and relevant parties in Qatar,” he said in a statement released during an investment conference in London.

“Our investments in the UK will focus on energy, infrastructure, real estate, services and other sectors.”

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ABB replaces South Korean management after US$100 million fraud

 ABB replaces South Korean management after US$100 million fraud

ZURICH (March 27): Power transmission and industrial automation company ABB has replaced its senior management in South Korea after an executive disappeared from the business with US$100 million.

The Swiss company has fired the managing director and chief financial officer in charge of South Korea in the wake of the scandal, which exposed a failure to maintain effective financial controls.

The suspected fraud reduced ABB’s 2016 net income by US$64 million after taxes and insurance recoveries.

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Samsung Elec says to sell refurbished Galaxy Note 7s

Samsung Elec says to sell refurbished Galaxy Note 7s

SEOUL (March 27): Tech giant Samsung Electronics Co Ltd said on Monday it plans to sell refurbished versions of the Galaxy Note 7 smartphones that were pulled from markets due to fire-prone batteries.

Samsung said in a statement it will determine in which markets it will sell the refurbished Note 7s after discussions with relevant regulatory authorities and carriers. The near-US$900 phones were scrapped about two months after their launch in one of the biggest product safety failures in tech history.


Philippines aims to include casinos in dirty money law this year — senator

Philippines aims to include casinos in dirty money law this year — senator

MANILA (March 27): The Philippines could tighten its money laundering law this year to cover casinos, its top lawmaker said on Monday, in a move aimed at plugging loopholes that allowed US$81 million stolen from Bangladesh to pass through Manila gaming venues.

The Senate aims to approve its version of the Bill in May and it is likely the lower house of Congress would hold separate discussions on its version around the same time, said Senate President Aquilino Pimentel.

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