Saturday, October 20th, 2018

 

Italy's Salvini dismisses ratings downgrade, says outlook 'stable'

ROME, Oct 20 — Interior Minister Matteo Salvini today dismissed ratings agency Moody’s decision to downgrade Italy’s credit standing because of the government’s controversial budget plans and said the country’s outlook was “stable.”…


MITI’s trade, investment mission to seoul generates rm1 bln potential sales

KUALA LUMPUR, Oct 20 —The Ministry of International Trade and Industry’s (MITI) trade and investment mission to Seoul, South Korea from Oct 18-20, 2018 has garnered RM1 billion in potential sales. The ministry said the mission, led by its…


11MP mid-term review should ease concerns, say economists

KUALA LUMPUR, Oct 20 — The Mid-Term Review of the 11th Malaysia Plan (MTR11MP) which has outlined the government’s strategy to steer the country towards a prosperous, harmonious and inclusive nation should ease the concerns on policy direction,…


Bursa Malaysia trade likely cautious next week

KUALA LUMPUR, Oct 20 — Bursa Malaysia is expected to trade in a cautious mode next week weighed by external concerns, an analyst said. Maybank Investment Bank Chartist Nik Ihsan Raja Abdullah said concerns about China’s growth, trade disputes…


Ringgit likely to trend lower against US dollar next week

KUALA LUMPUR, Oct 20 — The ringgit is likely to trend lower against the US dollar next week, mainly weighed by prospects of higher US interest rates. FXTM Research Analyst Lukman Otunuga said with the US dollar heavily supported by the interest…


Moody’s downgrades Italy credit rating on debt, deficit concerns

NEW YORK, Oct 20 — Moody’s cut Italy’s credit rating by a notch yesterday over concerns about government plans for larger deficits and the high public debt load. The ratings agency downgraded the country’s debt to Baa3 from Baa2, with a…


UK PM reassures business leaders over Brexit

LONDON, Oct 20 — Prime Minister Theresa May took pains yesterday to reassure more than 130 British business leaders that her government would deliver frictionless trade with the European Union after Brexit. May’s conference call with…


Europe, Asia back free trade in face of Trump’s ‘America first’

BRUSSELS, Oct 20 — More than 50 European and Asian leaders backed free trade and the fight against climate change yesterday in a veiled swipe at US President Donald Trump and his increasingly protectionist approach. As disputes fester with…


Euro, pound rally on Brexit concession; stocks dip

NEW YORK, Oct 20 — Stocks dipped yesterday, dragging a global index into a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said Britain is ready to drop a key Brexit demand. Oil prices rose on…


US and Europe shun Saudi conference over Khashoggi

WASHINGTON: US Treasury Secretary Steven Mnuchin and senior ministers from Europe pulled out of an investment conference in Saudi Arabia, deepening the kingdom’s isolation amid an uproar over the disappearance of journalist Jamal Khashoggi. Officials from some of Saudi Arabia’s leading Western allies joined a slew of corporate bigwigs who are now shunning next week’s […]