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Singapore Airlines to shift planes from SilkAir to budget arm Scoot

SINGAPORE: Singapore Airlines Ltd said on Thursday it expected to transfer some jets from its SilkAir regional airline to budget carrier Scoot, allowing it to compete more effectively against low-cost rivals like AirAsia Group Bhd and Lion Group. The plan comes after the carrier announced last month it would absorb underperforming SilkAir into the parent […]


Trump threatens 20pc tariff on all imported EU cars

WASHINGTON, June 22 — US President Donald Trump threatened today to impose a 20 per cent tariff on cars imported from the European Union, after the bloc’s additional tariffs on dozens of American products took effect. “Based on the Tariffs and…


Stock markets shrug off opening salvos in trade war

LONDON, June 22 — World stock market rose today, seemingly unworried by a global trade war that got underway when Brussels slapped retaliatory tariffs on the United States. Oil prices continued to rise after the Organisation of the Petroleum…


Oil up over 2pc as Opec raises output modestly

LONDON, June 22 — Oil prices rose sharply today as Opec agreed a modest increase in output to compensate for losses in production at a time of rising global demand. Benchmark Brent crude jumped US$2.29 a barrel, or 3.1 per cent, to a high of…


The toll of Trump’s trade war: Damage to more than just Daimler

MUNICH, June 22 — Over the past three decades, the global auto industry has gotten, well, more global. Manufacturers built scores of factories outside their home countries to reduce exposure to currency swings, take advantage of cheaper labour and…


EU slaps tariffs on US as trade war erupts

BRUSSELS, June 22 — The European Union slapped revenge tariffs on iconic US products including bourbon, jeans and motorcycles today in its opening salvo in a trade war with President Donald Trump. The tariffs, which took effect at midnight (2200…


KLCI pares loss as banking stocks advance

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KUALA LUMPUR (June 22): The FBM KLCI pared much of its loss at the midday break today as index-linked banking stocks advanced for the benchmark index to regain some lost ground. At 12.30pm, the FBM KLCI was down 2.45 points to 1,689.87. The index had earlier slipped to its intra-morning low of 1,768.03. Losers led gainers by 288 to 208, while 550 counters traded unchanged. Volume was 944.01 million shares valued at RM829.76 million. The top losers included British American Tobacco (M) Bhd, KESM Industries Bhd, Ayer Holdings Bhd, TenagaRead More


KLCI down 0.66% as investor sentiment remains jittery

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KUALA LUMPUR (June 22): The FBM KLCI fell 0.66% at mid-morning today, tracking losses at the regional markets as investor sentiment remained jittery given the spectre of a global trade war. At 10am, the FBM KLCI fell 11.02 points to 1,681.3. Losers led gainers by 277 to 177, while 283 counters traded unchanged. Volume was 398.65 million shares valued at RM282.86 million. The top losers included British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Nestle (M) Bhd, Ayer Holdings Bhd, KESM Industries Bhd, Superlon Holdings Bhd, PPB Group Bhd,Read More


Oil prices rise on uncertainty ahead of Opec meeting

SINGAPORE, June 22 — Oil prices rose by more than 1 per cent in early Asian trading today, pushed up by uncertainty over whether Opec would manage to agree a production increase at a meeting in Vienna later in the day. Brent crude futures, the…


M&A ‘mega deal’ frenzy evokes 1999 tech boom and bust

LONDON: By some measures, the global merger and acquisition frenzy has never been greater, fuelled by ‘TMT’ mega deals that are drawing comparisons with the late 1990s boom and spectacular bust. This is understandably unnerving many investors, given how mature the economic cycle and equity bull markets are right now. The US economic expansion is […]