Friday, December 21st, 2018

 

Report: Facebook is creating its own cryptocurrency

SAN FRANCISCO, Dec 21 — According to Bloomberg, Facebook is developing its own stablecoins, a type of cryptocurrency, tied to the US dollar, which can be used for WhatsApp transfers. As the value of cryptocurrency continues to decrease from its…


Key US inflation index slows sharply in Nov as income rises

WASHINGTON, Dec 21 — The most-closely watched measure of US inflation slowed sharply in November, even as wages and spending increased, albeit by less than expected, according to government data released today. The personal consumption…


Beaten-down US stocks bounce, Nike surges

NEW YORK, Dec 21 — Beaten-down Wall Street stocks bounced early today despite the possibility of a US government shutdown, as Nike shares surged on strong earnings. After two straight routs, the Dow Jones Industrial Average was up 0.6 per cent at…


Oil giant Total fined for Iran corruption

PARIS, Dec 21 — A French court today fined oil giant Total €500,000 (RM2.38 million) for corruption after finding it guilty of paying bribes while bidding for a huge gas contract in Iran in 1997. The French company was accused of paying US$30…


US GDP grew 3.4pc in Q3, held down by falling exports

WASHINGTON, Dec 21 — US growth in the July-September quarter was slightly slower than previously reported, dragged down by the large drop in exports amid President Donald Trump’s multi-front trade wars. With hundreds of billions of goods hit by…


RAM reaffirms RHB Islamic’s AA2/Stable/P1 ratings

KUALA LUMPUR, Dec 21 — RAM Ratings has reaffirmed the AA2/Stable/P1 financial institution ratings of RHB Islamic Bank Bhd, as well as the AA3/Stable rating of the Bank’s RM5.0 billion Subordinated Sukuk Murabahah Programme (2014/2034). The…


Siemens boss takes aim at Chinese buyouts

FRANKFURT, Dec 21 — Siemens boss Joe Kaeser today lashed out at the practices used by Chinese investors to exercise total control over foreign firms, as disquiet grows about China’s appetite for German technology and know-how. The recent ousting…


Indonesia takes majority stake in massive Grasberg mine

JAKARTA, Dec 21 — Indonesia today finalised a US$3.8 billion (RM15.9 billion) deal with US mining giant Freeport-McMoRan to take a 51 per cent stake in the giant Grasberg mine, the president said. The announcement finally brings an end to a fierce…


UK shares fall as Wall Street rout spreads gloom

LONDON, Dec 21 — UK stocks fell today dragged down by a fresh rout on Wall Street and in Asia overnight and weaker oil stocks weighed, while M&A in the food delivery sector boosted Just Eat. The FTSE 100 was 0.5 per cent lower, while the FTSE…


RAM reaffirms Maybank’s AAA/Stable/P1 ratings

KUALA LUMPUR, Dec 21 — RAM Ratings has reaffirmed Malayan Banking Bhd’s (Maybank) Asean — and national-scale financial institution ratings at AAA/Stable/P1 each. Concurrently, the ratings of the group’s debt issues had been reaffirmed, the…