Benetton founder, who took family business beyond sweaters, dies at 77

MILAN, Oct 23 — Gilberto Benetton, a co-founder of Italian clothing retailer United Colors of Benetton who masterminded the family empire's diversification into construction, transport and catering, has died at the age of 77. The former head of…

Saudi investment summit set to start despite boycott over slain journalist

RIYADH, Oct 23 — Saudi Arabia brushed off a Western boycott over the killing of journalist Jamal Khashoggi as it prepared to launch an investment conference today that has been overshadowed by the withdrawal of dozens of top business and…

Dow, S&P fall as earnings season picks up, tech boosts Nasdaq

NEW YORK, Oct 22 — The S&P 500 and the Dow fell in choppy trading yesterday as energy and financial stocks lost ground and caution grew ahead of a slew of earnings reports this week. Technology sector gains limited losses on the S&P 500…

Imran Khan leaves for Saudi conference saying Pakistan 'desperate' for loans

ISLAMABAD, Oct 23 — Pakistan's Prime Minister Imran Khan left for Saudi Arabia to attend an investment conference boycotted by other leaders over the death of journalist Jamal Khashoggi at the Saudi consulate in Istanbul. Khan told an interviewer…

China denounces Pompeo’s ‘malicious’ Latam comments

SHANGHAI: Chinese state media sharply criticised US Secretary of State Mike Pompeo yesterday after he made comments in Latin America warning about the hidden risks of seeking Chinese investment amid a growing battle for influence in the region. Pompeo was on a Latin America tour at the end of last week, meeting heads of state […]

New trade pact leaves most US industry at mercy of Mexico

NEW YORK/MEXICO CITY: The new North American trade agreement ends key legal protections for many US businesses operating in Mexico, leaving their operations exposed to a risk they had avoided under the old trade deal: Mexico’s court system. For thousands of US firms, the change could add complications and uncertainty to doing business south of […]

Digital tax may impact parcel delivery logistics

KUCHING: Local authorities looking to implement a digital tax on eCommerce transactions may have indirect impact on logistic players in the form of parcel delivery volume growth. The research team at Affin Hwang Investment Bank Bhd (AffinHwang Capital) in a special report said Malaysia was not alone with conventional tax mechanisms falling behind the emerging […]

Hitachi Sunway hopes Budget 2019 will support Malaysia’s data centre industry

KUCHING: Hitachi Sunway Information Systems Sdn Bhd (Hitachi Sunway), hopes the government will recognise data centres as key growth enablers, as highlighted in the group’s aspirations for Budget 2019. According to Group chief executive officer (CEO) and director Cheah Kok Hoong, Malaysia is on a path to rebuild itself and Hitachi Sunway believes digital transformation […]

Bullish City of London stays confident as Brexit nears

LONDON: London’s powerhouse financial district fretted over a brain drain when the country voted for Brexit, but its leading players are now convinced of one thing: the City will win. Christopher Hayward is one of the nearly 500,000 Londoners who work in the City, Europe’s largest financial centre and a hub that traces its origins […]

PayNet to launch DuitNow money transfer service in December

KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) and some 14 banks are expected to offer DuitNow, a new electronic payment service that allows customers to transfer money securely and instantly using recipients mobile number. Bank Negara Malaysia is the single largest shareholder in the company and PayNet is supported by 11 major financial institutions […]