Thursday, September 12th, 2019

 

Wall Street gains on easing trade concerns, euro zone stimulus

NEW YORK, Sept 12 — US stocks gained in morning trading today after the United States delayed scheduled tariff hikes on billions worth of Chinese imports, and the European Central Bank launched a stimulus drive to boost the ailing euro zone…


US court upholds ex-HSBC executive’s conviction for foreign-exchange scheme

NEW YORK, Sept 12 — A US appeals court today upheld the conviction of a former HSBC Holdings Plc executive who was sentenced to two years in prison for defrauding Cairn Energy Plc in a US$3.5 billion currency trade. A unanimous three-judge panel…


Google to pay US$1b in France to settle fiscal fraud probe

PARIS, Sept 12 — Google agreed to pay close to €1 billion (RM4.5 billion) to French authorities to settle a fiscal fraud probe that began four years ago in a deal that may create a legal precedent for other large tech companies present in the…


Bloomberg: Trump advisers considering interim China trade deal to delay tariffs

NEW YORK, Sept 12 — US trade advisers have discussed offering China a limited trade deal that would delay and even roll back some US tariffs for the first time in return for Chinese commitments on intellectual property and agricultural purchases,…


Karnival Usahawan Desa in Putrajaya targets sales of RM40m

PETALING JAYA, Sept 12 — The Rural Development Ministry is optimistic of participants at Karnival Usahawan Desa (KUD), to be held from Oct 17 to 21 in Putrajaya, which will be the last location for this year, achieving the target of RM40 million…


Pay-TV operator Astro's profit jumps ten fold for Q2 to RM169.3m

KUALA LUMPUR, Sept 12 ― Astro Malaysia Holdings Bhd's net profit for the second quarter ended July 31, 2019 (Q2 2020) jumped by more than 10 times to RM169.3 million, contributed by lower content costs and reduced marketing and distribution…


LSE board poised to decide fate of Hong Kong exchange’s US$39b offer

LONDON, Sept 12 — The London Stock Exchange’s board will meet in coming days to make a decision on the Hong Kong bourse’s surprise US$39 billion (RM162.5 billion) takeover proposal, a source close to the British company said today, as the…


ECB cuts key rate, to restart bond purchases

FRANKFURT, Sept 12 — The European Central Bank approved a fresh stimulus package as expected today, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations….


Malaysia to woo Kawasaki, Mitsubishi to set up aerospace entrepreneurship hub, says minister

KUALA LUMPUR, Sept 12 — The Ministry of Entrepreneur Development (MED) is exploring the possibility of bringing Japan’s Kawasaki Heavy Industries Ltd and Mitsubishi Heavy Industries Ltd into Malaysia to set up an aerospace entrepreneurship hub…


Destini plans private placement to raise up to RM49.67m

PETALING JAYA: Destini Bhd proposes to raise up to RM49.67 million from a private placement exercise.

The group told Bursa Malaysia that it involves up to 231.05 million new shares, representing up to 20% of its total number of issued shares, which will be placed out to third-party investors to be identified later .

Based on the indicative issue price of 21.5 sen per placement share, the exercise is expected to raise up to RM49.67 million gross for the repayment of bank borrowings and working capital.