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IEA sees oil markets tightening as Venezuelan output collapses

LONDON, Jan 19 — Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017’s biggest unplanned output fall and could see a further decline in 2018, the International Energy Agency (IEA) said today. Debt…


Oil kings threatened by rivals rethink age-old pricing habit

SINGAPORE, Jan 19 — Uneasy lies the head that wears a crown in the world’s biggest oil market. Middle East producers who for decades reigned as the undisputed leaders of oil sales to Asia are sensing a threat to their dominance, which is…


Asian currencies firm as US dollar wallows near three-year low

SINGAPORE, Jan 19 — Asian currencies strengthened today as the US dollar languished on fears over a US government shutdown and as China’s strong economic growth figures boosted sentiment in the region. The US dollar index was down 0.165 at…


Tide of money drowns out HK property warning by central banker

HONG KONG, Jan 19 — Why are official warnings of the threat that rising interest rates pose to Hong Kong’s red-hot housing market falling on deaf ears? The Hong Kong Monetary Authority and the International Monetary Fund have both…


Most South-east Asia stocks firm, Indonesia slips after hitting record

SINGAPORE, Jan 19 — Most South-east Asian stock markets firmed today and were on track to end the week higher as broader Asian shares climbed to an all-time top on data that showed China’s growth accelerated in 2017 for the first time in seven…


Hong Kong’s Red-Hot Home Market Set to Defy Rate Hikes

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(Jan 19): Why are official warnings of the threat that rising interest rates pose to Hong Kong’s red-hot housing market falling on deaf ears? The Hong Kong Monetary Authority and the International Monetary Fund have both highlighted the risks. But three Federal Reserve rate increases forecast for this year won’t stop prices from climbing, according to analysts at firms including JPMorgan Chase & Co. and Union Bancaire Privee. Prices already jumped 22 percent as the Fed raised rates five times from December 2015. On the face of it, the warnings make sense. HouseholdRead More


SoftBank is now Uber’s largest shareholder as deal closes

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SAN FRANCISCO (Jan 18): A group of investors led by SoftBank Group Corp closed a deal with Uber Technologies Inc on Thursday, making SoftBank the largest stakeholder in the ride-services firm and providing a much-needed boost to controversy-ridden Uber. The deal includes a large purchase of shares from existing Uber investors and employees at a discounted valuation for the company of $48 billion, a 30 percent drop from Uber’s most recent valuation of $68 billion. These secondary stock sales will be completed by the end of the day Thursday onRead More


‘Must-have’ fish sauce helps create new Vietnam billionaire

HO CHI MINH CITY, Jan 19 — For Vietnamese consumer tycoon Nguyen Dang Quang, placing his fish sauce and other “must-have” condiments in the kitchen shelves of just about every home in the country has helped make him a billionaire. Shares of…


Taiwan chip ‘godfather’ bullish on cryptocurrency despite volatility

TAIPEI, Jan 18 — The revered head of Taiwan’s semiconductor giant said cryptocurrencies would be a key driver for growth despite a bitcoin slump due to the threat of stricter regulations. Morris Chang’s Taiwan Semiconductor Manufacturing…


Stocks In Focus (19-1-2018)

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KUALA LUMPUR (Jan 17): Based on corporate announcements and news flow today, stocks in focus on Thursday (Jan 18) may include the following: Atta Global…