Friday, October 4th, 2019

 

Apple raises production of iPhone 11 models by about 10pc, says Nikkei

SAN FRANCISCO, Oct 4 — Apple Inc has asked suppliers to increase production of its iPhone 11 models by up to eight million units, or about 10 per cent, Nikkei Asian Review reported, hinting that demand for the recently launched versions of its…


US stocks gain as unemployment hits 50-year low

NEW YORK, Oct 4 — Wall Street stocks rose early today after a US government report showed unemployment at a 50-year low, mitigating somewhat the fears of a recession. US stocks have been under pressure much of the week following lacklustre…


French court orders closure of XL Airways

BOBIGNY (France), Oct 4 — A French court today ordered the closure of long haul low cost airline XL Airways after it declared insolvency, the second carrier in France within a month to be wound up. The commercial court in Bobigny outside Paris…


US unemployment falls to 50-year low of 3.5pc in September

WASHINGTON, Oct 4 — America’s jobless rate tumbled in September to its lowest level in 50 years, which could help assuage fears of an economic slowdown, according to government data released today. But while job creation continued, the pace was…


US trade deficit widens in August as exports slow

WASHINGTON, Oct 4 — The yawning US trade deficit rose by nearly US$1 billion (RM4.2 billion) in August as weakening foreign demand and the churning trade conflict ate into US exports, the government reported today. Meanwhile, the strong US dollar…


Financial Times: PayPal close to quitting Facebook’s Libra project

LONDON, Oct 4 — Online money-transfer group Paypal is on the verge of quitting Facebook’s planned digital currency Libra after failing to attend a key meeting of backers, the Financial Times reported today. Citing people familiar with the event,…


Half of Dutch cheese exports to be hit by US trade tariffs, says government

AMSTERDAM, Oct 4 — Roughly half of Dutch cheese exports to the United States will be affected by a 25 per cent tariff Washington has threatened to slap on European food products, the Dutch Trade Ministry said today. The Netherlands, the world’s…


AirAsia, AirAsia X claiming RM479.78m from Malaysia Airports over negligence at klia2

PETALING JAYA: The feud between AirAsia Group Bhd and Malaysia Airports Holdings Bhd is far from over following the latest lawsuit filed by the low-cost airline claiming for RM479.78 million.

AirAsia Group’s wholly owned subsidiary AirAsia Bhd (AAB) with its affiliate company AirAsia X Bhd have jointly filed a writ of summons at the Kuala Lumpur High Court against Malaysia Airports (Sepang) Sdn Bhd (MASSB) for the loss and damages caused by negligence on the part of MASSB relating to provision of services and facilities at Klia 2, according to the two firms’ filings with the stock exchange.

They said further updates of any material development on the matter will be made from time to time in compliance of Bursa’s Main Market Listing Requirements.

Two weeks ago, AAB and AirAsia X paid RM41.54 million to MASSB to defray the garnishee execution proceedings in relation to MASSB’s claim for additional passenger services charges (PSC).

However, the payment was made without prejudice to AAB and AAX’s rights in the appeals made in relation to the judgement order dated July 18, 2019.


Bursa Malaysia ends lower on extended selling

KUALA LUMPUR, Oct 4 — Bursa Malaysia ended the week lower today on extended selling activities from yesterday amid the country’s weaker trade data and fears of slower global growth, dealers said.  At 5pm, the benchmark FTSE Bursa Malaysia…


Japan’s Uniqlo takes plunge in uncertain India retail market

NEW DELHI, Oct 4 — Japanese clothing giant Uniqlo today opened its first store in India, one of its largest worldwide, becoming the latest global retailer to plunge into the huge but tough developing market. The South Asian nation, with its 1.3…