Friday, March 29th, 2019


Pound falls after UK parliament rejects Brexit plan

LONDON, March 29 — The pound fell today after Britain’s parliament again rejected a proposed deal to withdraw from the European Union. Sterling had been mostly stronger against both the dollar and the euro in the runup to the vote, but then fell…

Saudi’s SABIC sticking with growth plans, will discuss synergies with Aramco

RIYADH, March 29 — Saudi Basic Industries Corp’s (SABIC) investment plans will not be affected by oil giant Aramco’s purchase of a 70 per cent stake in the company, its chief executive said today, adding SABIC would look to integrate assets…

Weak US economic data and risk-on move end three-day dollar rally

NEW YORK, March 29 — The dollar index this morning was lower as increased investor appetite for risk hurt safe-haven currencies and after US inflation data came in weaker than expected, adding to the conviction that the country’s economy is…

German jobless rate at 4.9pc record low since reunification

BERLIN, March 29 — Germany’s unemployment rate fell again in March, striking a new historic low since reunification in 1990, figures showed today, as a job boom in Europe’s biggest economy extended its run. Just 4.9 per cent of people were out…

US inflation index slows sharply in January

WASHINGTON, March 29 — A key US inflation measure dropped sharply in January due to plunging energy costs, the Commerce Department reported today. The cost for energy goods and services fell 6.4 per cent at the start of the year, compared to…

Foxconn posts fall in Q4 profit, beating estimates

TAIPEI, March 29  —Taiwanese manufacturer Foxconn reported a smaller than expected fall in quarterly profit, despite warning signs from key customers including Apple Inc that demand for tech electronics is softening. Foxconn, formally known…

German bond yields set for biggest monthly fall since June 2016 Brexit vote

LONDON, March 29 — German and French government bond yields were poised today for their biggest monthly falls since June 2016, ending a month where heightened anxiety about global growth prospects has caused a flood into fixed income globally….

Laos has ‘mortgaged’ future at expense of people, UN expert says

BANGKOK, March 29 — The Laos government has prioritised big infrastructure projects including dams, railways lines and mines that have benefited few people and uprooted the poor from their land, said the top independent expert on poverty at the…

Govt investigates dumping in steel, cement industries

KUALA LUMPUR: The government will impose anti-dumping duties at the rate that is necessary to prevent further injury to the domestic steel and cement industries if investigation findings are found to be affirmative.

According to the International Trade and Industry Ministry (Miti), the government has considered the prima facie evidence of dumping, injury and causal link and decided to initiate the anti-dumping investigation on imports of cold rolled coils of iron or non-alloy steel (CRC) of width more than 1,300mm from China, Japan, Korea and Vietnam.

The government also evaluated and considered the evidence of dumping, injury and the causal link, and decided to initiate an administrative review (sunset review) investigation on imports of cellulose fibre reinforced cement flat and pattern sheets (FCB) from Thailand.

In accordance with the Countervailing and Anti-Dumping Duties Act 1993 and its related regulations, it said a preliminary determination for CRC will be made within 120 days from the date of initiation, while a final determination on the investigation on FCB will be made within 180 days from the date of initiation.

The government received a petition from Mycron Steel CRC Sdn Bhd, a domestic producer, requesting anti-dumping investigation on imports of CRC of width more than 1,300mm.

The petitioner alleged that imports of the subject merchandises originating in, or exported from China, Japan, Korea and Vietnam are being dumped into Malaysia at a price much lower than their domestic price. It further claimed that dumped imports from the alleged countries have increased in terms of absolute quantity and have caused material injuries to the petitioner.

The government also received a petition from Hume Cemboard Industries Sdn Bhd, a domestic producer, requesting for an application of administrative review (sunset review) on the anti-dumping measure imposed on FCB originating in, or imported from Thailand.

The petitioner alleged that imports of FCB originating in or imported from Thailand is being dumped at a price much lower than their domestic selling price and want the government to continue the imposition of anti-dumping duties on FCB from Thailand. It further claimed that imports from the alleged markets have increased and the domestic industry suffered material injury.

“In connection with the investigations, Miti will provide a set of questionnaires to interested parties (importers, foreign producers, exporters and associations).”

Other interested parties may request for the questionnaires no later than April 12, 2019 (CRC) and April 8, 2019 (FCB). Interested parties may also provide additional supporting evidence to Miti on, or before, April 27, 2019 (CRC) and April 22, 2019 (FCB).

“In the event no additional information is received within the specified period, the government will make its preliminary findings based on the available facts.”