Wednesday, March 29th, 2017

 

Pernod to raise spirits prices in Britain, cites Brexit impact

PARIS, March 29 — Pernod Ricard is raising the prices of its spirits and wines in Britain to protect margins against a slide in the pound stemming from the country’s vote to leave the European Union. The owner of Absolut vodka, Martell…


Chile president vows to fight for Asia-Pacific trade deal

GENEVA, March 29 — Chile’s President Michelle Bachelet said today that Latin America will spearhead efforts to boost Asia-Pacific trade after US President Donald Trump killed the highly-touted Trans Pacific Partnership.  Addressing a special…


Yen Global, Paramount Corp, QL Resources, Bintai Kinden, Subur Tiasa, Kim Loong, A-Rank, Kuantan Flour Mills, Hai-O, Trive Property and Comintel

Yen Global, Paramount Corp, QL Resources, Bintai Kinden, Subur Tiasa, Kim Loong, A-Rank, Kuantan Flour Mills, Hai-O, Trive Property and Comintel

KUALA LUMPUR (March 29): Based on corporate announcements and news flow today, stocks in focus on Thursday (March 30) may include: Yen Global Bhd, Paramount Corp Bhd, QL Resources Bhd, Bintai Kinden Corp Bhd, Subur Tiasa Holdings Bhd, Kim Loong Resources Bhd, A-Rank Bhd, Kuantan Flour Mills Bhd, Hai-O Enterprise Bhd, Trive Property Group Bhd and Comintel Corporation Bhd

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Metronic to spend RM75m on mixed development project

 Metronic to spend RM75m on mixed development project

KUALA LUMPUR (March 29): Metronic Global Bhd expects to spend RM75 million to develop a residential-cum-commercial project on the four adjacent plots of land in Cheras that it is acquiring.

“The expected commencement date is two years from the sales and purchase agreement date or when market conditions are better, and the expected completion date of development is three years from the commencement of construction of each phase of the project,” Metronic said in a reply to queries from Bursa Malaysia on the acquisition.

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May’s divorce letter to EU calls for deal that includes finance

May’s divorce letter to EU calls for deal that includes finance

(March 29): UK Prime Minister Theresa May struck a conciliatory tone toward the European Union as she coupled her demand for divorce with a request for a sweeping free-trade deal encompassing financial services.

In a six-page letter submitted on Wednesday to EU President Donald Tusk, May formally triggered two years of talks that will end with Britain leaving its largest trading partner after four decades of membership.

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China’s Q1 GDP growth seen at 6.8pc, says government think tank

HONG KONG, March 29 — China’s economy, the world’s second largest, will likely expand 6.8 per cent in the first quarter of 2017, the official Xinhua agency quoted a government think tank as saying today. The expected pace is on par with the…


Amendments to bankruptcy law passed

Amendments to bankruptcy law passed

KUALA LUMPUR: The Dewan Rakyat today passed the Bankruptcy (Amendment) Bill 2016, which has been hailed as more borrower-friendly, after the second and third reading that took place on the same day.

Under the amended law, debtors will be granted an automatic discharge from bankruptcy after three years, though they may still have to settle part of the debt termed target contribution — an amount set by the Insolvency Department’s director-general based on the total debt — which the debtor has to repay when ordered to do so by the DG.

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China, EU reaffirm climate action after Trump backs away

China, EU reaffirm climate action after Trump backs away

BEIJING/OSLO (March 29): Nations led by China and the European Union rallied around a global plan to slow climate change on Wednesday after US President Donald Trump began undoing Obama-era plans for deep cuts in US greenhouse gas emissions.

Trump’s order on Tuesday, keeping a campaign promise to bolster the US coal industry, strikes at the heart of an international Paris Agreement in 2015 to curb world temperatures that hit record highs in 2016 for the third year in a row.

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Gold ticks higher as Brexit triggered

Gold ticks higher as Brexit triggered

LONDON (March 29): Gold edged up on Wednesday, as uncertainty about Brexit talks, French elections and US President Donald Trump’s economic policies boosted safe-haven buying and offset a firmer dollar.

Spot gold rose 0.1 percent at US$1,252.76 per ounce at 1418 GMT. US gold futures slipped 0.3 percent to US$1,252.40.       

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CEFC China to buy 20% stake in US brokerage Cowen

CEFC China to buy 20% stake in US brokerage Cowen

(March 29): Brokerage Cowen Group Inc’s shares surged 19 percent on Wednesday after Chinese conglomerate CEFC China said it agreed to acquire a stake of about 20 percent in the US company for US$100 million.

The deal, the latest in a series of investments by Chinese firms in US companies, will also give the CEFC the right to appoint three directors to the New York-based company’s board.

CEFC’s announcement comes a day after US electric car maker Tesla Inc said China’s Tencent Holdings Ltd had acquired a five percent stake in the company for US$1.78 billion.

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