Friday, July 14th, 2017


Draghi to speak softly after startling big stick at Sintra

LONDON, July 14 — No big changes are expected from the European Central Bank when it meets on Thursday, but a bit of tweaking may be on the cards. Policymakers are likely to calibrate the language they use as they edge towards normalising…

US industrial output rises in June on jump in drilling

WASHINGTON, July 14 — US industrial output rose for the fifth straight month in June on the continued rise in oil and gas drilling and coal mining and a slight rebound in manufacturing, the Federal Reserve reported today. Overall industrial…

US inflation flat in June while retail sales sink

WASHINGTON, July 14 — Cheap energy prices kept US inflation flat in June in another sign price pressures remain weak in the world’s largest economy, Labour Department figures showed today. The falling price of gasoline also helped hold down…

Google escapes 1.1 billion euro tax bill in France

PARIS: Google is not liable for 1.115 billion euros ($1.272 billion) in unpaid taxes claimed by the French state, a French court ruled Wednesday, saying the internet giant’s Irish subsidiary is not taxable in France.”The French company Google Ireland Limited (GIL) is not taxable in France for the 2005 to 2010 period,” the court ruled. Google paid just 6.7 million euros in corporate taxes in 2015 in France by booking revenues for its online empire at its European subsidiary in low-tax Ireland, a legal loophole prized by multinationals.The group employsRead More

Citigroup profit beats on smaller drop in trading revenue

NEW YORK, July 14 — Citigroup Inc reported a quarterly profit that beat analysts’ estimates as trading revenue held up better than the company’s forecast and loans grew. The lender said markets revenue declined about 7 per cent in the…

Infosys manages slight Q1 profit increase, labour costs cloud outlook

BENGALURU, July 14 — Infosys Ltd, India’s No 2 software services exporter, eked out a slight rise in first-quarter profit, although the outlook for more earnings gains remains cloudy due to higher labour costs and unfavourable currency rates….

Oil firm as signs of higher demand outweigh worries of excess

LONDON, July 14 — Oil prices edged higher today and were on track for solid weekly gains following positive demand signals, production issues in Nigeria and a reported decline in stocks. Brent crude futures, the international benchmark for…

Maybank IB buys additional 1.26 million shares in Lotte Chemical Titan

PETALING JAYA: Lotte Chemical Titan Holding Bhd's stabilising manager Maybank Investment Bank Bhd (Maybank IB) has assisted the group further by purchasing an additional 1.26 million shares today, bringing the total shares it has purchased since the company's listing to 23.38 million.

In a filing with Bursa Malaysia, Lotte Chemical Titan said that Maybank IB had bought the additional shares at an average of RM6.402 per share, amounting to RM8.09 million.

Maybank IB has forked out RM150.93 million for the 23.38 million shares it bought under an exercise to stabilise the share performance of the integrated petrochemical company.

Lotte Chemical Titan's share price, which has been flat since its debut last Tuesday, closed 0.16% or one sen higher today to RM6.41, with 2.43 million shares changing hands. It has a market capitalisation of RM15.82 million.

Asia’s biggest buyout sees GIC-backed firm get US$11.6b

SINGAPORE, July 14 — A Chinese consortium agreed to pay S$16 billion (US$11.6 billion or RM49.8 billion) for Global Logistic Properties Ltd, the warehouse operator backed by Singapore’s sovereign wealth fund, in Asia’s biggest buyout. GLP…