Tuesday, May 21st, 2019

 

Adidas, PUMA say new tariffs would be ‘catastrophic’

WASHINGTON, May 21 — Adidas, Nike and PUMA today urged President US Donald Trump to prevent the shoe industry from falling victim to the trade war with China, saying new tariffs could be “catastrophic.” In a letter to Trump, those big name…


US existing home sales continue slide in April

WASHINGTON, May 21 — Sales of existing US homes fell for the second straight month in April as prices increased despite rising supplies of homes for sale, according to an industry survey today. But the unexpected dip came amid low mortgage rates…


UAE offers golden visas to investors, ‘exceptional talents’

DUBAI, May 21 — The United Arab Emirates said today it has launched a permanent residency scheme to attract wealthy individuals and highly skilled workers to the oil-rich Gulf country. The “Golden Card” programme is open to investors and…


US stocks bounce after Huawei ban delayed

NEW YORK, May 21 — Wall Street stocks bounced early today after two down sessions as the United States granted a 90-day reprieve to companies affected by a ban on Chinese telecom company Huawei. About 15 minutes into trading, the Dow Jones…


Nepal bans Chinese digital wallets

KATHMANDU, Nepal said today it has banned popular Chinese digital wallets Alipay and WeChat to prevent the loss of foreign currency earnings from tens of thousands of Chinese tourists. Over 150,000 Chinese holidaymakers visited Nepal last year, many…


Huawei sees US ‘bullying’ as threat to rules-based trade

BRUSSELS, May 21 — Chinese giant Huawei denounced what it called US bullying today and warned Europeans against “complacent appeasement” of Washington’s move to block its access to markets and technology. Abraham Liu, Huawei’s envoy in…


OECD cuts global growth forecast as US-China tensions rise

PARIS, May 21 — The OECD today cut its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the US-China trade war threatens to crimp global growth. “Governments must act urgently to…


IOI Corp Q3 net profit falls to RM245.8m

KUALA LUMPUR, May 21 — IOI Corporation Bhd’s net profit fell to RM245.8 million for the third quarter ended March 31, 2019 (Q3) from RM2.068 billion in the same period a year ago. Revenue, however, was higher at RM1.89 billion from RM1.74…


Sunway net profit rises to RM151.94m in Q1

KUALA LUMPUR, May 21 — Sunway Bhd’s net profit rose to RM151.94 million in the first quarter ended March 31, 2019 from RM136.20 million in the same period a year earlier. In a filing with Bursa Malaysia today, it said revenue for the quarter,…


Pos Malaysia ends FY19 in the red, seeks new pricing model

KUALA LUMPUR, May 21 — Pos Malaysia Bhd closed its latest financial year in the red, incurring its third — and largest — quarterly loss of the year in the fourth quarter (Q4) ended March 31, 2019. The group swung to a net loss of RM141.13…