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Cathay Pacific shares up 2.3% post CEO resignation
HONG KONG: Shares of Cathay Pacific Airways rose more than 2 percent early today after CEO Rupert Hogg resigned in a shock move, as the carrier grapples with the involvement of some of its employees in the city’s anti-government protests.
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Asia stocks rise as stimulus, policy hopes calm nervous investors
TOKYO: Asian stocks rose today as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors’ fears of a sharp global economic slump. Over recent weeks,
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Ringgit opens slightly higher
KUALA LUMPUR: The ringgit opened slightly higher against the US dollar on mild buying support for the domestic unit amid stronger second-quarter economic growth announced last Friday. At 9.06 am, the ringgit stood at 4.1750/1780 against the greenback from 4.1760/1810
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Ali Baba’s $15 billion poser amid Hong Kong protests
HONG KONG: Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables. New
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Bank Negara: Malaysia’s external debt remains manageable
KUALA LUMPUR: Malaysia’s external debt, which stood at RM931.1 billion or 61.3% of Gross Domestic Product (GDP) as at end-June this year, remains manageable. Bank Negara Malaysia governor Datuk Nor Shamsiah Mohd Yunus said the debt remained manageable given its
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Further liberalisation of foreign exchange admin policy
KUALA LUMPUR: There will be further liberalisation of the foreign exchange administration (FEA) policy effective Aug 30 to provide greater flexibility and efficiency for businesses in better managing their foreign exchange risk and conducting daily operations. In a statement, Bank
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GDP growth 4.9% in second quarter 2019
KUALA LUMPUR: Malaysia’s economy expanded 4.9% in the second quarter of 2019 (2Q19), after posting a growth of 4.5% during 1Q19, according to the Department of Statistics (DOS) Malaysia. DOS chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said
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The mystery man in Goldman Sachs – 1MDB deal
NEW YORK: Andrea Vella was Goldman Sachs’s top dealmaker in Hong Kong. He had a nose for splashy trades, a fondness for the Bentley Continental, and a vague enough resemblance to George Clooney that there was even a joke among
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KLCI struggles to stay above 1,600 level
KUALA LUMPUR: The FBM KLCI was put on a roller-coaster ride yesterday after the overnight big equity rout in the US on Wednesday as rising concern over the global economy haunted the equity markets again. The benchmark index dived to
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Asia stocks nurse losses, bonds hold huge gains
SYDNEY: Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-U.S. trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows. U.S.
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