Wednesday, April 12th, 2017

 

Investors remain cautious as geopolitical strains persist

Investors remain cautious as geopolitical strains persist

LONDON/SYDNEY (April 12): Investors edged back into European stocks on higher oil prices and hopes of positive earnings on Wednesday, but gold, the yen and low-risk bonds all held at multi-month highs as geopolitical tensions from the Middle East to the Korean peninsula simmered.

The unease tarnished an otherwise brightening outlook for global economic growth and meant oil’s best run since August went almost under the radar.

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Higher fuel prices drive up India’s inflation to five-month high

Higher fuel prices drive up India's inflation to five-month high

NEW DELHI (April 12): Higher fuel costs drove up India’s headline inflation to its highest level in five months in March, data showed, vindicating a central bank decision last week to keep its policy rate on hold amid concern about price pressures.

Consumer prices rose by an annual 3.81%, their fastest pace since October 2016, compared with February’s 3.65%, the Ministry of Statistics said on Wednesday.

The rise was lower than the 3.98% forecast by economists in a Reuters’ poll.

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Notion Vtec fixes price of private placement shares at RM1.10 apiece

KUALA LUMPUR (April 12): Precision parts manufacturer Notion Vtec Bhd announced that it has fixed the issue price of the 26.83 million shares it is placing out to selected investors at RM1.10 apiece.
 
“The issue price represents a discount of approximately 5.98% to the five-day volume weighted average market price of Notion Vtec shares up to and including April 11, 2017 of RM1.17,” the company said in a filing with Bursa Malaysia this evening.
 

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Trump finds Asian allies cool to preemptive North Korea strike

Trump finds Asian allies cool to preemptive North Korea strike

HONG KONG (April 12): U.S. President Donald Trump is finding little support among his Asian allies — both publicly and behind the scenes — as he weighs a military attack on North Korea after unilaterally firing missiles on Syria.

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Hunt for Barclays whistleblower tests strength of new UK regime

LONDON, April 21 —Barclays chief executive Jes Staley’s attempts to unmask a whistleblower will be a test case for a regime put in place last year that aims to hold bank bosses to account if they fail to defend reinforced standards. At stake…


China’s Ant Financial extends mobile payments empire to Indonesia

China's Ant Financial extends mobile payments empire to Indonesia

BEIJING (April 12): Ant Financial, the finance affiliate of Alibaba Group Holding, and Indonesian media company Elang Mahkota Teknologi (Emtek) are to form a joint venture to offer payment and financial services in Indonesia.

The Emtek tie-up is Ant’s fifth international payments deal since November, seeking to tap Asia’s third-largest country by population as the company continues to extend its mobile finance empire outside China.


Asia Bioenergy ups stake in Focus Dynamics

Asia Bioenergy ups stake in Focus Dynamics

KUALA LUMPUR (April 12): Asia Bioenergy Technologies Bhd has upped its stake in loss-making Focus Dynamics Group Bhd by an additional 3.38% to 19.28%.

In a filing with Bursa Malaysia today, Asia Bioenergy said its wholly-owned subsidiary Asiabio Capital Sdn Bhd (ACSB) had acquired 26.24 million shares of the ACE Market-listed company between March 10 and April 11 for a combined RM2.57 million via the open market.

“Pursuant to the investment in Focus Dynamics, ACSB has increased its shareholding stake from 15.91% to 19.28% or 149.84 million shares in the company,” it added.

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Wall St dips as geopolitical risks linger, earnings loom

Wall St dips as geopolitical risks linger, earnings loom

NEW YORK (April 12): US stocks opened slightly lower on Wednesday amid lingering geopolitical risks and as investors braced for the first rush of corporate earnings, starting Thursday.

The United States launched missiles at a Syrian airfield last week to retaliate a deadly chemical attack on civilians. The strikes pushed President Donald Trump, who came to power in January calling for warmer ties with Syria’s ally Russia, and his administration into confrontation with Moscow.

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PDZ to pursue legal action over arrest of vessel after negotiations fail

PDZ to pursue legal action over arrest of vessel after negotiations fail

KUALA LUMPUR (April 12): PDZ Holdings Bhd is pursuing legal action over the arrest of its vessel after negotiations to secure its release failed.

The group said that upon obtaining legal advice, it has resolved to take steps to defend the arrest of PDZ Mewah and any claims that may subsequently be filed and set it aside.

In a filing with Bursa Malaysia, PDZ said the vessel was served with a writ in action in rem and warrant of arrest on Feb 21 by Continental Platform (M) Sdn Bhd (CPSB).

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Can airlines really do that? Bumping and the law: Q&A

Can airlines really do that? Bumping and the law: Q&A

(April 12): When United Airlines had police forcibly remove a paying customer from his plane seat, dragging him down the aisle, the social-media response was immediate and global. United said the man was ejected because it needed his seat for an employee who was required in Louisville for duty the following day. The incident raises a host of legal, regulatory and corporate-branding questions:

1. Can airlines just throw seated passengers off planes?

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