Business » World

Thursday, 14 August 2014

In Brief

2014-08-14 Petronas pre-tax profit surges to RM28.1b in Q2KUALA LUMPUR: Petronas’ pre-tax profit for the second quarter ended June 30, 2014 rose 28 per cent to RM28.1 billion from RM22 billion in the corresponding period last year on the back of higher...

Acceleration seen making Argentina debt crisis messier

2014-08-14 HOLDOUT investors’ legal battle with the Argentine sovereign could get a lot messier should holders of newly defaulted debt decide to declare principal and interest immediately due.The move, known as acceleration, could push Argentina into a new...

Top banks back plan to reform forex benchmark

2014-08-14 THE world’s top banks have backed the bulk of recommendations from regulators to reform the setting of the leading global currency benchmark following allegations of market rigging, making changes inevitable.The US$5.3 trillion-a-day foreign...

Wednesday, 13 August 2014

Russia talks with Belarus on backdoor supply of banned food

2014-08-13 MOSCOW dispatched top veterinary officials to Belarus on Tuesday after the neighbouring country, which has a free trade zone with Russia, said it would not become a back-door conduit for banned Western food products.Last week Russia banned imports...

Poland must cut outlook on Ukraine woes: Deputy PM

2014-08-13 POLAND should downgrade its economic growth outlook for 2015 to take account of fallout from the Ukraine crisis and tit-for-tat sanctions between Russia and the West, Polish Deputy Prime Minister Janusz Piechocinski said.In an interview with...

Schlumberger: Moscow sanctions to affect earnings

2014-08-13 SCHLUMBERGER Ltd, the world’s largest oilfield services company, said US and EU sanctions on Russia would hurt its third-quarter earnings, becoming the first major US company to say so.The company, which drills with Russia’s largest oil producer...

‘Naked PCs’ weigh on Microsoft’s China sales

2014-08-13 ON A trip to Beijing a decade ago, Bill Gates was asked by a senior government official how much money Microsoft Corp made in China. The official asked the interpreter to double check Gates’ reply as he couldn’t believe the figure was so low.It’s a...

In Brief

2014-08-13 Ex-PM Mahathir criticises Malaysia Airlines takeoverKUALA: Former prime minister Mahathir Mohamad on Tuesday criticised the takeover of crisis-hit Malaysia Airlines by the country’s sovereign wealth fund as a recipe for more losses by the carrier....

Deutsche Bank CEO faces attempted fraud charge

2014-08-13 GERMAN prosecutors are seeking charges against Deutsche Bank co-CEO Juergen Fitschen (pictured) and several former executives at the bank in connection with the long-running Kirch bankruptcy case, legal sources said on Tuesday.The decision to...

Tuesday, 12 August 2014

ASEAN Norway tie-up tp be ‘action oriented’

2014-08-12 THE recently-launched Asean-Norway Partnership aims to be action-oriented, mutually-beneficial and forward-looking. In a joint statement issued in Nay Pyi Taw, Myanmar, ASEAN and Norway said the partnership would include political and security,...

EU seeks new marts to limit impact of Russia import ban

2014-08-12   EUROPEAN Union regulators on Monday began analysing product-by-product the impact of a Russian ban on EU food imports announced in retaliation for Western sanctions over Moscow’s actions in Ukraine. But they said it was too soon to decide how...

In Brief

2014-08-12 Luxembourg plans road show for first sukuk issueDUBAI: Luxembourg has appointed HSBC and BNP Paribas as co-lead arrangers of its first issue of sovereign Islamic bonds, and is organising a roadshow for investors at end September, the country’s...

Frequent flyer programmes eyed to drive airline profits

2014-08-12 BESET by low air fares and relentless competition, airlines around the world are waking up to the value of their frequent flyer programmes and realising they can boost profits as well as brand profile.A multitude of global carriers – preserved by...

FoodPanda secures US$60m funding

2014-08-12 FOODPANDA, an online food delivery company active in dozens of emerging markets, said it had raised US$60 million in new financing from a group of investors including existing backer Rocket Internet AG.Foodpanda, one of a stable of ecommerce and...

Monday, 11 August 2014

Traders brace for research crackdown

2014-08-11 REGULATORY pressure to undo the traditional way brokers sell research alongside share dealing is alarming traders in Europe, who fear a further drop in business and more cost-cutting in an already tough environment.At stake is the lucrative but...

China State Grid builds Mediterranean power network

2014-08-11 THE European Commission has long wanted the continent’s power grids to work in unison for reasons of efficiency and supply security, so far to little avail, but a regional power network could soon be a reality, courtesy of State Grid Corporation of...

Spaniards seek seaweed riches

2014-08-11 THREE young Spaniards in wetsuits plunge into the sea to harvest a culinary delicacy that promises them a way out of troubled financial waters: seaweed. Armed with stainless steel scythes, they swim in low tide from rock to rock cutting down...

Saturday, 9 August 2014

OPEC trims 2014 oil demand forecast

2014-08-09 OPEC trimmed its 2014 global oil demand growth forecast for a second consecutive month and said the group managed to increase output in July despite violence in Iraq and Libya, pointing to more comfortable global supplies.In a monthly report on...

In Brief

2014-08-09 ‘TPP to pose challenges to Vietnamese timber sector’HO CHI MINH: The Trans-Pacific Partnership Agreement (TPP) is expected to bring opportunities for exports in many of Vietnam’s sectors, but it is likely to pose big challenges for it’s timber...

WTO rules vs Beijing’s rare earths export limits

2014-08-09 THE World Trade Organization on Thursday upheld its ruling that China had violated global trade rules by restricting exports of rare earths, used in hi-tech goods like mobile phones and televisions. Beijing had appealed a decision by a WTO panel...

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