Saturday, April 15th, 2017

 

Mercosur to sign trade deal with EU this year, Argentina says

VIENNA, April 15 ― South American trade bloc Mercosur plans to sign a trade agreement with the European Union this year, the president of Argentina, which holds the rotating presidency of Mercosur, said in an interview published today. The…


Asian economies escape ‘manipulator’ tag, but expect more pressure on trade

BEIJING, April 15 ― Asian countries escaped the currency manipulator label in the latest US Treasury report, but remain wary of possible trade friction as President Donald Trump maintains his administration will seek to address trade imbalances….


Apple eyes backing Hon Hai bid for Toshiba chip unit

TOKYO, April 15 ― Tech giant Apple is considering backing Hon Hai’s multi-billion dollar bid for Toshiba’s lucrative memory chip business, a report said today. The US firm plans to financially support Taiwan’s Hon Hai, which has…


Facebook shareholders propose reports on ‘fake news’, pay equality

April 15 ― Shareholders have proposed that Facebook Inc prepare a report on the threat to democracy and free speech from so-called fake news spread on the social media forum, and the dangers it may pose to the company itself, according to a…


Asian economies escape ‘manipulator’ tag, more pressure on trade expected

BEIJING, April 15 — Asian countries escaped the currency manipulator label in the latest US Treasury report, but remain wary of possible trade friction as President Donald Trump maintains his administration will seek to address trade imbalances….


Moody’s: Robust Asian high yield issuance helps improve liquidity positions

Moody’s Investors Service says high yield bond issuance in Asia has returned to robust levels, giving rise to stronger liquidity profiles and manageable levels of refinancing risk. “Currently, we believe that refinancing risk will remain manageable, assuming the continued absence of any exogenous shocks, and the market is well positioned to absorb upcoming maturities which total USD127 billion in rated and unrated bonds from now through to 2021,” Moody’s Vice President and Senior Credit Officer Annalisa DiChiara said. During the first quarter of 2017, 26 deals totalling USD$10 billion wereRead More


Ringgit expected to strengthen against US dollar

KUALA LUMPUR: The ringgit is expected to strengthen against the US dollar next week, as sentiment for the greenback is expected to be influenced by geo-political tensions, a dealer said.

Measures announced by Bank Negara Malaysia (BNM) to strengthen financial markets, including revising rules to allow investors to fully hedge their currency exposure and permit all domestic players to short-sell government bonds, will drive trader's confidence for the local unit.

“The extended recovery in oil prices will also be partially supportive of the ringgit,” he added.

On a Friday-to-Friday basis, the ringgit was traded higher at 4.4050/4100 against the greenback compared with 4.4335/4365 recorded last Friday.

Against other major currencies, the local note finished mostly higher.

It rose against the Singapore dollar to 3.1521/1572 from 3.1616/1649 last Friday, strengthened versus the euro to 4.6786/6847 from 4.7159/7195, appreciated vis-a-vis the British pound to 5.5107/5187 from 5.5108/5155 but fell against the yen to 4.0450/0503 from last Friday's 4.0075/0106. — Bernama


Ringgit expected to climb against US dollar

KUALA LUMPUR, April 15 — The ringgit is expected to strengthen against the US dollar next week, as sentiment for the greenback is expected to be influenced by geo-political tensions, a dealer said. Measures announced by Bank Negara Malaysia…


HSBC to pay US$2m to resolve US civil loan fraud lawsuit

NEW YORK, April 15 — HSBC Holdings Plc has agreed to pay about US$2 million (RM8.8 million) to settle a civil fraud lawsuit that alleged the bank improperly attempted to get reimbursement from the federally backed US Small Business…


In about-face, Trump nominates new head of export bank

WASHINGTON, April 15 — US President Donald Trump nominated former Republican lawmaker Scott Garrett as president of the Export-Import Bank of the United States yesterday, completing an about-face over an institution he had denounced as…