Monday, May 1st, 2017

 

Mnuchin sees US growth reaching 3pc in time, tax cuts to help

BEVERLY HILLS, May 1 ― US Secretary of the Treasury Steve Mnuchin said today that it could take up to two years to have economic growth reach three percent and that tax cuts and regulatory relief will help get there. “There are very…


US stocks rise after deal to avert government shutdown

NEW YORK, May 1 ― US stocks rose early today at the start of a heavy week of earnings and a Federal Reserve meeting, and as lawmakers reached a deal to avert a government shutdown. The Fed is not expected to raise the benchmark interest rate…


Key US inflation measure sees first drop in 16 years

WASHINGTON, May 1 ― The US Federal Reserve’s preferred inflation measure fell in March, and a key component dropped for the first time in nearly 16 years, the Commerce Department reported today. It was another sign of soft prices as several…


Trump’s tax plan seen as boon for rich, unclear for middle class

WASHINGTON, May 1 ― President Donald Trump’s economic advisers pitched his new tax plan as a cut for the middle class and not the wealthy, but the opposite may be true. Tax policy experts say its current provisions would undoubtedly mean lower…


Freeport Indonesia workers hold rally at start of planned strike

TIMIKA, May 1 ― Thousands of workers from the Indonesian unit of Freeport McMoRan Inc staged a rally near its Papua mine today, a union leader said, protesting against layoffs by the miner due to a contract dispute with the government. The…


Sony reaches 22-month high as analysts predict record profit

TOKYO, May 1 — Sony Corp shares jumped to their highest since May 2015 after a bullish earnings report triggered analyst predictions that the electronics maker could achieve record profit this year. The Tokyo-based company rose 3 per cent to…


Tech billionaire buys Sydney mansion for record price

SYDNEY, May 1 — Tech billionaire Scott Farquhar has bought a Sydney waterfront mansion for an Australian record Aus$75 million (RM243.7 million), a report said today, after the owners resisted selling the 1863-built home to developers. The…


S.Korea exports expected to remain robust in May, says trade ministry official

SEOUL, May 1 — South Korea’s exports are expected to remain firm in May, a trade ministry official told a media conference today, citing strong demand for key items such as semiconductors, petrochemical products and construction-related goods….


Petronas lubricants expands to China

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Petronas Lubricants International (PLI) has expanded its lubricant-blending plant in the Weifang Economic Development Zone in Shandong, China. This is to meet the market’s growing demand for premium lubricant products and high-quality services. The project, which was carried out in phases, will see the plant’s production capacity upgrade, production lines and storage facilities, bolstering the company’s ability to serve the booming Chinese market. The company said second phase expansion at its Shandong plant adds much-needed production capacity that will help meet the soaring demand for its products. Petronas has investedRead More


Australia home prices brake in April, slowest gain in 16 months

SYDNEY, May 1 — Home prices in Australia’s major cities skidded to a halt in April, a welcome respite for policymakers although economists say it is too early to call a peak in the red-hot housing market. Property consultant CoreLogic said…