Monday, 4 July 2016

Emergency measure that feeds Greek crisis

2016-07-04 CALL it the law of unintended consequences – a measure to save Greece from the abyss of a default and crashing out of the eurozone now holds its economy in a stranglehold preventing its recovery.Cast back a year: the standoff between the Greek...

Brexit unlikely to cause global recession: economists

2016-07-04 THE Brexit vote has caused widespread financial market turmoil, but a British exit from the European Union (EU) is unlikely to cause a global recession, economists said.However, investors should brace for more volatility, and the pound is expected...

Saturday, 2 July 2016

Online holiday queries rise on Brexit

2016-07-02 ONLINE queries for European holiday flights to Britain soared after its voters chose to abandon the EU, travel web sites reported, offering a glimmer of hope for tourism in the country.People across Europe apparently rushed to find bargain trips...

Friday, 1 July 2016

Saudi Electricity gets US$1.5b loan from China

2016-07-01 STATE-CONTROLLED utility Saudi Electricity Co (SEC) has obtained US$1.5 billion in financing from Industrial and Commercial Bank of China (ICBC), one of the largest loans ever extended by a Chinese bank in the Gulf.The loan from ICBC, the world’s...

Netflix to boost original series, films in and from Asia

2016-07-01 NETFLIX plans to expand its Asian offerings to subscribers around the world by tapping more creators in the region, including Snowpiercer director Bong Joon-ho, its chief said yesterday.CEO Reed Hastings said the US streaming service company is...

MAS appoints new CEO

2016-07-01 MALAYSIA Airlines has named chief operating officer and former Ryanair Holdings PLC executive Peter Bellew as the ailing national carrier’s new chief executive, replacing Christoph Mueller who resigned earlier this year.Bellew will assume the role...

Global stocks up as Brexit shock eases

2016-07-01 EUROPEAN and Asian stocks pushed higher while the pound held most of its ground yesterday as markets shrugged off their Brexit shock.After wiping out on Wednesday all of its losses following the surprise vote by Britain the leave the EU, London’s...

UOB suspends loans for London properties after Brexit

2016-07-01 A TOP Singapore bank said yesterday it has suspended loans to anyone wanting to buy property in London, citing uncertainty from Britain’s vote to quit the EU but dealing a blow to investors looking to make the most of the weak pound.United Overseas...

OPEC oil output hits record high on Nigeria rebound

2016-07-01 OPEC’S oil output has risen in June to its highest in recent history, a Reuters survey found yesterday, as Nigeria’s oil industry partially recovers from militant attacks and Iran and Gulf members boost supplies.Higher supply from major Middle East...

IN-BRIEF

2016-07-01 Maxis unit to issue Islamic bondsPETALING JAYA: Maxis Bhd’s unit Maxis Broadband Sdn Bhd (MBSB) plans to issue Islamic medium-term notes with a nominal value of up to 10 billion ringgit which will be partly used to finance the group’s internal...

Oil falls towards US$50 on higher supply outlook, economic worries

2016-07-01 OIL fell towards US$50 a barrel yesterday, pressured by higher Nigerian output and concern about the economic outlook following Britain’s vote to leave the European Union last week. Returning Nigerian supply will put pressure on prices, Goldman...

Thursday, 30 June 2016

Sterling above US$1.35 as stocks rally, Brexit politics

2016-06-30 STERLING rose for a second day yesterday, helped by rising stock markets and a revival in risk appetite, with Brexit-related concerns over UK growth and investment moving into the background for the time being. Investors were drawing some...

Oil jumps nearly 3% on US crude draw

2016-06-30 OIL prices jumped nearly three per cent yesterday after the US government reported a larger-than-expected weekly drawdown in crude inventories, adding fuel to an existing rally on fading concerns over Britain’s exit from the European Union.The...

Toyota recalls 3.37m cars

2016-06-30 JAPAN’S Toyota Motor Corp has recalled 3.37 million cars worldwide over possible defects involving airbags and emissions control units.The automaker yesterday said it was recalling 2.87 million cars over a possible fault in emissions control units...

First US chain hotel in a half-century opens in Cuba

2016-06-30 STARWOOD Hotels on Tuesday took over management of a luxury hotel in central Havana, becoming the first big American hospitality chain with a presence on the island since the Cuban Revolution a half-century ago.The newly-rechristened Cuba Four...

IN-BRIEF

2016-06-30 Vodafone says UK office in doubt after BrexitLONDON: British telecoms giant Vodafone warned yesterday that the future of its London-based headquarters is in doubt after voters chose to quit the European Union. EU membership has been important to...

Sony upbeat on games and robots but cuts outlook for image sensors

2016-06-30 JAPAN’S Sony Corp yesterday lifted the sales target for its games division next year on hopes for its new virtual reality headset, and said it would re-enter robots a decade after it last abandoned the business.But the electronics giant cut its...

World stocks build on post-Brexit rebound

2016-06-30 GLOBAL stock prices rose yesterday in a second day of recovery from a sharp-sell off prompted by Britain’s vote to leave the European Union.Asian markets led the way on hopes that authorities will unveil fresh stimulus to counter the effects of the...

Traders store oil ahead of refinery maintenance

2016-06-30 TWO trading houses, including commodities group Glencore, have chartered at least four tankers to store oil off Singapore, taking advantage of cheap freight and crude ahead of the refinery maintenance season that typically crimps demand.ST Shipping...

Mitsubishi to accept orders after correcting mileage

2016-06-30 MITSUBISHI is resuming sales of vehicles for which it had reported inflated mileage, after offering to compensate each buyer with 100,000 yen (US$960) to make up for the extra gas.Mitsubishi Motors Corp said yesterday that it will start accepting...