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US-China trade hopes lift stocks, oil hits three-month high

NEW YORK, Feb 23 ― Stocks rose in major markets across the world yesterday on bets of progress in trade talks between China and the United States, while crude futures hit their highest level in more than three months supported by ongoing supply…


US debt hits record under Trump, Republicans mum

WASHINGTON, Feb 20 — More massive than the US economy, the national debt hit a new record of US$22 trillion (RM89.7 trillion) under President Donald Trump but Republicans who traditionally rail against debt and deficits have remained mum. The sum…


Apple profit stable as service gains offset iPhone slump

SAN FRANCISCO, Jan 30 — Apple said yesterday that profits held steady in the most recent quarter, with revenue growth in music, movies, apps and other services offsetting slumping iPhone sales, sparking a rally in shares of the California tech…


Sri Lanka: Year in Review 2018

Political tensions in the latter part of 2018 slowed the momentum of Sri Lanka’s economy, weakening gains made earlier in the year. Nevertheless, political stabilisation and advances in the export and tourism sectors are expected to drive robust growth over the coming year. Citing policy differences, on October 26 President Maithripala Sirisena rescinded the mandate […]


Saudis cut, Russians hiked output ahead of pact, says IEA

PARIS, Jan 18 — Saudi Arabia demonstrated its resolve to lift oil prices by slashing output ahead of the entry into force of new pact limiting production while Russia boosted output to a record level, the International Energy Agency said Friday….


Perodua likely to hit record TIV with launch of new Aruz

KUCHING: Perodua has been forecast to hit a record total industry volume (TIV) this year as analysts believe the new Aruz SUV plugs an important gap in Perodua’s model mix. Perodua’s maiden SUV, the Aruz, which was officially launched on Tuesday, is available in two variants, priced at RM73,000 and RM78,000, and is set to […]


US Government shutdown sets new record, economic losses rising

Fundamental outlook THE US Government has shut down since December 22, making it the longest recorded lapse in Federal funding. Economists say the cost of Government’s dormancy for the last two weeks could create a total economic loss of US$6 billion, exceeding the cost of building the border wall. Last Tuesday, President Donald Trump spoke […]


Apple slashes revenue guidance, says iPhone sales are weak in China — shares tank

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Apple lowered its Q1 guidance in a letter to investors from CEO Tim Cook Wednesday. Apple stock was halted in after-hours trading just prior to the announcement, and shares were down about 7 percent when trading resumed 20 minutes later. Apple lowered revenue guidance to $84 billion, down from the $89 to $93 billion it had previously projected. The company lowered gross margin to about 38 percent from between 38 percent and 38.5 percent. Apple blamed a variety of factors for the lowered guidance, including a weakening economy in China and lower-than-expected iPhoneRead More


Wall Street roars back to life in best session in 9 years

NEW YORK, Dec 27 — Wall Street stocks roared back to life yesterday, shaking off four straight routs following strong retail sales data and White House reassurances that Fed Chair Jay Powell won’t be fired. The Dow Jones Industrial Average…


US share buybacks at records despite congressional griping

NEW YORK, Dec 23 — US corporate share repurchases keep setting new records, a trend some experts expect to persist despite bipartisan unease on Capitol Hill and a weaker economic outlook that could crimp profits. Fuelled with windfalls from the…