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Moody’s downgrades Italy credit rating on debt, deficit concerns

NEW YORK, Oct 20 — Moody’s cut Italy’s credit rating by a notch yesterday over concerns about government plans for larger deficits and the high public debt load. The ratings agency downgraded the country’s debt to Baa3 from Baa2, with a…

20/10/2018

UK PM reassures business leaders over Brexit

LONDON, Oct 20 — Prime Minister Theresa May took pains yesterday to reassure more than 130 British business leaders that her government would deliver frictionless trade with the European Union after Brexit. May’s conference call with…

20/10/2018

Europe, Asia back free trade in face of Trump’s ‘America first’

BRUSSELS, Oct 20 — More than 50 European and Asian leaders backed free trade and the fight against climate change yesterday in a veiled swipe at US President Donald Trump and his increasingly protectionist approach. As disputes fester with…

20/10/2018

Euro, pound rally on Brexit concession; stocks dip

NEW YORK, Oct 20 — Stocks dipped yesterday, dragging a global index into a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said Britain is ready to drop a key Brexit demand. Oil prices rose on…

20/10/2018

US and Europe shun Saudi conference over Khashoggi

WASHINGTON: US Treasury Secretary Steven Mnuchin and senior ministers from Europe pulled out of an investment conference in Saudi Arabia, deepening the kingdom’s isolation amid an uproar over the disappearance of journalist Jamal Khashoggi. Officials from some of Saudi Arabia’s leading Western allies joined a slew of corporate bigwigs who are now shunning next week’s […]

20/10/2018

US asks for WTO panel over metals tariff retaliation

WASHINGTON/OSLO: The United States is requesting that a World Trade Organisation dispute resolution panel get involved in a clash over international retaliation over US tariffs on steel and aluminium, according to a US official familiar with the matter. The requests, filed on Thursday, cover tariffs by China, the European Union, Canada and Mexico, which followed […]

20/10/2018

All trustees, issuing houses need to register with SC from January 2

KUALA LUMPUR: All trustees and issuing houses which provide capital market services will need to register with the Securities Commission Malaysia (SC) under a new registration framework, effective January 2, 2019. In a statement yesterday, the SC said the new registration framework, ‘Guidelines on Registration and Conduct of Capital Market Services Providers’, aimed to enhance […]

20/10/2018

Sri Lanka reverses US$300-mln China housing deal ahead

COLOMBO: Sri Lanka has reversed a decision to award a US$300-million housing deal to China in favour of a joint venture with an Indian company, the government said, ahead of a visit by the prime minister to its South Asian neighbour. Prime Minister Ranil Wickremesinghe will meet his counterpart Narendra Modi on Saturday in New […]

20/10/2018

China regulators deliver rare joint pep talk for worried markets

SHANGHAI: Three of China’s top financial officials launched a coordinated attempt to shore up confidence in the country’s stock markets and economic prospects on Friday in an unusual expression of top-level concern over what one of them called ‘abnormal’ share price falls. The timing of the rare intervention by the heads of the central bank, […]

20/10/2018

MyEG, Datasonic heavily traded after report

KUALA LUMPUR: Shares in MyEG Services Bhd (MyEG) and Datasonic Group Bhd (Datasonic) were heavily traded yesterday on news report that both companies have been implicated in the charges against former Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. This has also resulted in the suspension of MyEG trading from 2.30pm. At closing, MyEG […]

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