Tuesday, January 1st, 2019


Macau casinos rake in US$37.6b gaming revenue in 2018

MACAU, Jan 1 — Gambling revenue in Macau rose 14 per cent in 2018, the second consecutive year of gain as demand to wager in the Chinese territory continued to rebound from a prolonged slump. December was also the 29th straight month where revenue…

Dubai stocks close 2018 down 25pc, worst in a decade

DUBAI, Jan 1 — Dubai's stock market ended 2018 yesterday with a 25-per-cent annual loss, the worst year since the global financial crisis a decade ago, as the real estate and tourism sectors struggled. The plunge in the Dubai Financial Market…

Brazilian businesses seek quick action from Bolsonaro on deficit

SAO PAULO, Jan 1 — Brazil's business community will give far-right President-elect Jair Bolsonaro little in the way of a honeymoon as it presses him to make good on campaign promises to tame the country's bureaucracy and erase a yawning public…

Global markets stagger towards end of worst year since financial crisis

NEW YORK, Jan 1 — World stock markets staggered yesterday towards the end of their worst year since the global financial crisis a decade ago, rocked by rising interest rates, the global trade war and Brexit, dealers said. London and Paris wobbled…

Wall St rises, limps across the finish line of turbulent year

NEW YORK, Jan 1 — Wall Street advanced in low-volume trading yesterday as revellers gathered to ring in 2019, marking the end of the worst year for US stocks since 2008, the height of the financial crisis. Wall Street entered correction territory…

Defensive stocks top 2019 playbooks

NEW YORK: Perceived safe havens like utilities and consumer staples, often an afterthought in Wall Street’s cascade of year-ahead investment recommendations each December, are emerging as top picks as stocks limp into 2019. Growth-oriented sectors like tech or communications services have typically dominated year-end roundups of investment ideas. But an uncertain economic outlook and concerns […]

China factory activity shrinks, 2019 looks tougher

BEIJING: China’s factory activity contracted for the first time in over two years in December, highlighting the challenges facing Beijing as it seeks to end a bruising trade war with Washington and reduce the risk of a sharper economic slowdown in 2019. The increasing strain on factories signals a continued loss of momentum in China, […]

All’s quiet on all fronts of building materials sector

KUCHING: Analysts at AmInvestment Bank Bhd (AmInvestment Bank) downgraded its call on the building material sector to underweight from neutral due to sustained weakness in the sector. According to the bank in a sector report, the sustained weakness is from the local cutback in public infrastructure spending and low consumer sentiment in the property sector […]

Mixed opinions on consumer segment for 2019

KUCHING: Analysts have mixed opinions on how the consumer segment will fare in 2019. In a report, MIDF Amanah Investment Bank Bhd (MIDF Research) expects the consumer segment to face an unfavourable market situation in the short-term due to the newly proposed sugar tax of RM0.40 per litre on ready-to-drink (RTD) beverages that contain sugar […]

M’sia ends 2018 with a total foreign outflow of RM11.65 billion

KUCHING: Malaysia has ended 2018 with a total foreign outflow of RM11.65 billion, setting the record for the largest yearly foreign net outflow since 2015 which saw –RM19.49 billion worth of foreign outflow. In its weekly fund flow report, MIDF Amanah Investment Bank Bhd (MIDF Research) detailed that this outflow has offset last year’s foreign […]