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Saudi stocks dip 3pc in first session after oil attack

RIYADH, Sept 15 — Saudi shares dropped 3 per cent at the start of trading today, the first session after drone attacks on two major oil facilities knocked out more than half the kingdom's production. The Arab world's largest capital market shed…


Large US banks sweating the move to lower interest rates

NEW YORK, Sept 15 — President Donald Trump’s attacks on the US Federal Reserve make financial markets cringe, but his demand for zero interest rates makes banks sweat. As the Fed reverses course and is poised to cut the benchmark lending rate a…


Singapore employers more cautious in hiring, as job vacancies in Q2 2019 continue to decline, says report

SINGAPORE, Sept 14 — In light of economic headwinds, hiring sentiments continued to be cautious for the second quarter of this year. The number of job vacancies offered on the market continued to decline from the previous quarter, as the resident…


Citigroup stands by card strategy despite economic clouds

NEW YORK, Sept 14 — Some Wall Street analysts have begun to question whether Citigroup Inc’s big bet on credit cards will backfire if the US economy enters a recession, despite the bank saying it is underwriting responsibly. The New York-based…


Report: EPF-held shares’ value slip RM8b since late June to RM150b

KUALA LUMPUR, Sept 13 — The Employees Provident Fund’s (EPF) saw the value of its 191 stocks decline from RM157.87 billion since late June to RM149.94 billion this Wednesday, a report has said. According to business news outlet The Malaysian…





Draghi ties Lagarde’s hands with promise of indefinite stimulus

FRANKFURT, Sept 13 — European Central Bank chief Mario Draghi pledged indefinite stimulus yesterday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with US President…


Asian equities mixed after US, China tariff moves

HONG KONG, Sept 12 — Signs of easing tensions between China and the US in their trade row fuelled hopes of a breakthrough in high-level talks next month but Asian markets were mixed as dealers struggled to extend this week’s healthy rally….