Saturday, January 19th, 2019


China offers to ramp up US imports, Bloomberg reports

NEW YORK, Jan 19 — China has offered to go on a six-year buying spree to ramp up imports from the United States in order to reconfigure the relation between the two countries, Bloomberg reported yesterday, citing people familiar with the matter….

EU to derail Siemens, Alstom’s European champion plan, sources say

BRUSSELS, Jan 19 — Siemens and Alstom’s plan to create a European rail champion to take on a Chinese rival has failed to win over EU antitrust regulators despite German and French backing, people familiar with the matter said yesterday. The EU…

Stocks rally on trade hopes, dollar has first weekly gain of 2019

NEW YORK, Jan 19 — World stock indexes jumped on Friday, with Wall Street posting a fourth straight week of gains, and the dollar had its first positive week since mid-December as optimism increased that an end is in sight to the US-China trade…

US chipmakers may give clues on China hazard

SAN FRANCISCO, Jan 19 — Intel Corp operates mostly outside the Apple-sphere, and that is exactly why whatever it says next week about business in its vital Chinese market matters so much for investors. Apple rattled global markets this month when…

Ghosn received US$9 mln improperly from Nissan-Mitsubishi JV — Companies

TOKYO: Arrested auto executive Carlos Ghosn improperly received 7.8 million euros (US$9 million) in compensation from a joint venture (JV) between Nissan Motor Co and Mitsubishi Motors Corp, the companies said yesterday. A joint investigation found that Ghosn, ousted as chairman from both automakers, was compensated by the Netherlands-based JV without any discussion with two […]

Bad bets on oil and gas spark wave of energy-fund closures

NEW YORK/HOUSTON: Energy fund managers took heavy losses last year with wrong-way bets on the prices of oil and natural gas, leading to a wave of closures in the volatile fund sector. The number of active energy-focused funds fell to just 738 in 2018 through September from about 836 in 2016, according to the latest […]

Kenanga announces first issuance of the year

KUALA LUMPUR: Kenanga Investment Bank (Kenanga) has announced its first warrant issuance of the year, providing opportunities for investors to trade in a volatile market. In a statement, it said, trade with China has caught the headlines, but unpredictable business investments into and out of Malaysia presents a longer-term concern but fortunately for call warrant […]

Job jitters mount as China’s factories sputter ahead

DONGGUAN/HONG KONG: Wang Zhishen was thrilled when Danish shipper AP Moller-Maersk gave him two months’ paid leave, relishing the chance to spend time with his wife and daughters in China’s remote northwestern Gansu province. But his euphoria over what he thought was an unexpected bonus quickly turned to despair when Maersk fired Wang on January […]

Malaysia picks trio as lead arrangers for Samurai bond

PUTRAJAYA: Mizuho Bank (Malaysia) Bhd, HSBC Bank Malaysia Bhd and Daiwa Capital Markets Ltd (in partnership with Affin Hwang Investment Bank) have been appointed as joint lead arrangers for the 10-year 200 billion yen (RM7.6 billion) Samurai bond. Announcing this at the Treasury here yesterday, Finance Minister Lim Guan Eng said the appointments were made […]

IMF warns of economic hit from extended government shutdown

WASHINGTON: While it is too soon to gauge the economic damage from the US government shutdown, the longer it continues the worse it will be, the International Monetary Fund warned. The shutdown that has left 800,000 federal workers nationwide without pay is the longest on record and now in its fourth week. “The longer the […]