Saturday, July 29th, 2017

 

Benetton family in shortlist to buy Ducati, says source

MILAN, July 29 — Italy’s Benetton family is among five bidders shortlisted to buy Italian motorcycle brand Ducati, which is being sold by Germany’s Volkswagen, a source close to the matter said today. The finalists will be given access to…


Toshiba to give Western Digital notice on closing memory sale

SAN FRANCISCO, July 29 — Toshiba Corp has agreed to give Western Digital Corp two weeks’ notice before closing any sale of a memory chip unit that would involve transferring joint venture shares that Western Digital claims give it a say in the…


2017 a year of recovery, private investments to spur growth

KUCHING: Malaysia’s economy will strengthen this year, driven by a recovery in global commodity prices, while private investment is expected to expand due to the expected solid improvement of economic activities in Malaysia. MIDF Amanah Investment Bank Bhd’s research arm (MIDF Research) in an economic report said based on current macroeconomic condition, most indicators are […]


Brexit web tangled by spats over how to leave, Irish border

LONDON, July 29 — Britain’s progress towards life outside the European Union became more entangled yesterday, with divisions deepening over Northern Ireland’s border and even the type of divorce Britain actually wants. The uncertainty…


China shuts 42.4m tonnes of steel capacity in H1, says official

SHANGHAI, July 29 — China shut 42.39 million tonnes of crude steel capacity in the first half of 2017, equal to 84 per cent of its target for the whole year, a government official said at a meeting of the country’s steel industry body…


Opec to meet with non-Opec to discuss weaker cuts compliance

KUWAIT, July 29 — Representatives of some Opec and non-Opec nations will meet in Abu Dhabi on Aug 7-8 to discuss why some of them are falling behind in their pledges to cut production, according to an Opec statement. The meeting, co-chaired by…


IMF says dollar overvalued; euro, yen, yuan broadly in line with fundamentals

WASHINGTON, July 29 — The International Monetary Fund yesterday said that the US dollar was overvalued by 10 per cent to 20 per cent, based on US near-term economic fundamentals, while it viewed valuations of the euro, Japan’s yen, and…


Singapore layoffs, unemployment rate down in Q2, says MOM

SINGAPORE, July 29 — Layoffs continued to dip in the second quarter of this year — the lowest in seven quarters — and unemployment rate among citizens and residents fell slightly, advance figures released by the Manpower Ministry (MOM)…


US economic growth more than doubles to 2.6pc in second quarter

WASHINGTON, July 29 — The US economy gathered speed in the second quarter, more than doubling the growth of the first three months of the year as consumer and defence spending accelerated, according to data released Friday. Gross domestic…


Bursa Malaysia likely to remain firm next week

KUALA LUMPUR, July 29 —  Trading on Bursa Malaysia is likely to remain firm next week,on the back of good news such as the higher economic growth forecast by the International Monetary Fund (IMF), increased foreign equity inflows, a steadier…