Friday, April 6th, 2018

 

Hidden by Model 3 mess, Tesla’s debt problem about to emerge

NEW YORK, April 6 — With all the car-making troubles that are hounding Tesla Inc these days — from the Model 3 bottlenecks to the furious cash burn — it’s easy to overlook the company’s SolarCity headache. But 16 months after Chief…


Wall St cuts losses as Kudlow promises China trade talks

NEW YORK, April 6 — US stocks recouped some losses this morning after President Donald Trump’s top economic adviser Larry Kudlow said negotiations between the United States and China over trade differences would start soon. Wall Street…


Lebanon wins US$11b as donors push for better governance

PARIS, April 6 — Lebanon received about US$11 billion in loans and grants at a Paris conference organised to help turn around one of the world’s most indebted economies and stabilise a critical corner of the Middle East. Delegates from 41…


Nafta ministers meet to work on possible deal, focus on autos

WASHINGTON, April 6 — Top US, Mexican and Canadian trade officials will meet today to discuss prospects for a deal to update Nafta amid pressure from Washington to strike a quick agreement despite several unresolved issues. No time limit has…


Incyte tumbles after combo therapy with Merck fails study

NEW YORK, April 6 — Incyte Corp’s shares sank more than 20 per cent today after its experimental cancer drug failed to bolster the effectiveness of Merck & Co’s blockbuster Keytruda to treat skin cancer patients. The failure is a big blow…


US imposes sanctions on Putin’s oligarch allies

WASHINGTON, April 6 — The United States today imposed sanctions on seven Russian oligarchs accused of supporting and profiting from President Vladimir Putin’s efforts to undermine western democracies. Senior US officials described the…


Trump says trade spat to strengthen US as China vows reprisals

WASHINGTON, April 6 — US President Donald Trump said the current trade spat with China may hurt the markets in the short term but that America will emerge stronger from it, as a confrontation that has roiled global equities heats up between the…


US stocks open lower on US-China trade spat, Dow -0.9pc

NEW YORK, April 6 — Wall Street stocks dropped early today as the latest barbs between the US and China worsened trade war fears and US jobs growth disappointed in March. Shortly after the opening bell, the Dow Jones Industrial Average lost…


India seeks US$15b fighter jets in world’s largest deal

NEW DELHI, April 6 — India asked global companies to submit proposals for 110 fighter jets, the world’s biggest such order currently. The Indian Air Force sought requests for information for the supply of single- and twin-seat jets to be…


Ni Hsin buys 7.26% stake in Caely for RM4.6m

PETALING JAYA: Ni Hsin Resources Bhd has acquired 7.26% stake in Caely Holdings Bhd for RM4.6 million cash in the past 12 months.

Caely manufactures undergarments, garment, leather goods, sportswear and household products.

In a filing with Bursa Malaysia, Ni Hsin said the purchase consideration is based on open market price ranging from 67 sen to RM1.08 per share, which was funded entirely from internally generated funds.

It believes there is synergy for both companies to leverage on customer base of each other especially in the overseas market segment.

“Ni Hsin can also benefit from Caely's direct selling licence to market our Pentoli products,” it noted, adding that it intends to seek board representation in Caely.

Ni Hsin shares closed unchanged at 15.5 sen, while Caely fell 9.1% to RM1.