Foreign

Cuba signs first exports to US in half a century

By AFP - Friday, 6 January 2017.

HAVANA: Two firms signed a deal Thursday for the first commercial exports in half a century from Cuba to the United States, a new step in the countries’ historic rapprochement.

Nintendo shares dumped after Super Mario game release

By AFP - Friday, 16 December 2016.

TOKYO: Nintendo shares dived almost five percent Friday, hours after the release of its latest mobile phone game and despite it topping download charts in several countries.

Oil prices surge on output deal, Dow hits new record

By AFP - Tuesday, 13 December 2016.

NEW YORK: World oil prices jumped Monday after non-OPEC producers struck a deal to cut output, while US and European stocks were subdued before a key Fed meeting this week.

OPEC, non-OPEC agree first global oil pact since 2001

By Reuters - Saturday, 10 December 2016.

VIENNA: OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.

OPEC seeks to nail down oil output cut

By AFP - Wednesday, 30 November 2016.

VIENNA: OPEC sought Wednesday to defy expectations and finalise a deal reducing its oil output for the first time in eight years, in an effort to boost painfully low crude prices.

Chinese travel site Ctrip buys Skyscanner for $1.7 bn

By AFP - Thursday, 24 November 2016.

SHANGHAI: China’s largest online travel agency Ctrip will buy British flight search app Skyscanner for $1.7 billion, the companies said, as it steps up its overseas ambitions.

Despite Trump's statement, investors believe TPP isn't quite dead yet

By LIDIANA ROSLI - Tuesday, 22 November 2016.

KUALA LUMPUR: It is not the end of the Trans-Pacific Partnership Agreement (TPPA) yet, as investors are opting for a wait-and-see approach to President-Elect Donald Trump's actual moves in his first 100 days in the White House.

Volkswagen to cut 30,000 jobs in huge post-Dieselgate revamp

By AFP - Friday, 18 November 2016.

FRANKFURT AM MAIN: Volkswagen on Friday said it will cut 30,000 jobs at its own brand unit under a huge savings plan aimed at helping the German auto giant recover from the dieselgate emissions cheating scandal.

Oil wars: How Kremlin's US$13 bln Indian deal almost fell apart

By Reuters - Wednesday, 16 November 2016.

LONDON: A multi-billion-dollar Russian deal to buy Indian refiner Essar was nearly sunk at the eleventh hour by a rival bid from Saudi Arabia as the two oil superpowers vie for supremacy across the world.

Tokyo stocks open higher

By AFP - Tuesday, 15 November 2016.

TOKYO: Tokyo stocks opened higher on Tuesday as exporters extended gains with the yen dropping to its lowest level against the dollar in over five months.

British Airways offers M'sian SMEs 'On Business' loyalty programme

By BILQIS BAHARI - Thursday, 10 November 2016.

KUALA LUMPUR: British Airways has launched an 'On Business' loyalty programme as part of its commitment to the Malaysian market.

Marks & Spencer to close stories in UK, worldwide to cut costs

By Reuters - Tuesday, 8 November 2016.

LONDON: Britain's Marks & Spencer said on Tuesday it would shut stores at home and abroad, with its new chief executive seeking to cut costs as part of a revival plan.

Thailand's rice committee unveils loan schemes for rice storage to help farmers

By Reuters - Tuesday, 8 November 2016.

BANGKOK: Thailand’s rice committee announced new loan schemes for storage of white paddy and Pathum Thani fragrant rice on Monday to help rice farmers struggling with falling prices.

Saudi Arabia threatens to raise oil output again

By Reuters - Friday, 4 November 2016.

DUBAI/LONDON: Old disputes between Saudi Arabia and rival Iran resurfaced at a meeting of OPEC experts last week, with Riyadh threatening to raise oil output steeply to bring prices down if Tehran refuses to limit its supply, OPEC sources say.

Renminbi is gaining currency among M'sian companies, says HSBC

By LIDIANA ROSLI - Friday, 4 November 2016.

KUALA LUMPUR: HSBC Bank Malaysia Bhd expects usage of the renminbi by Malaysian corporations to grow substantially over the medium term.

'Crazy' hike in Saudi visa fees could impact business ties

By AFP - Friday, 21 October 2016.

RIYADH: A seven-fold hike in visa fees to do business in Saudi Arabia risks deterring the foreign investment needed to transform its oil-dependent economy, diplomats and other sources say.

Note 7 fiasco could burn a $17 bln hole in Samsung accounts

By Reuters - Wednesday, 12 October 2016.

SEOUL: Samsung Electronics’ worst-ever recall could cost the company as much as $17 billion after it halted sales of its flagship Galaxy Note 7 for a second time, spelling an almost certain end for the ill-fated premium model.

Brexit all bad? Tourists lap up plunging pound for bargain visits

By Reuters - Wednesday, 12 October 2016.

LONDON: When the pound plunged this month on new worries about Brexit, New Yorkers Derek Hotter and Ian Clark hopped on a plane for an impromptu holiday in Britain.

Pound suffers 'flash crash' after Hollande warning

By AFP - Friday, 7 October 2016.

TOKYO: The pound suffered a “flash crash” in Asia Friday on a computer-generated sell-off in the beleaguered currency, as tough talk from French President Francois Hollande underscored the perils ahead for Brexit-bound Britain.

Japanese traders cheer central bank policy tweeks

By AFP - Wednesday, 21 September 2016.

TOKYO: Tokyo shares shot up and the yen sank after the Bank of Japan tweaked its policy measures Wednesday, as it ramped up its attempts to kickstart inflation.

Most Asia markets up ahead of central bank meetings

By AFP - Monday, 19 September 2016.

HONG KONG: Asian markets mostly rose Monday as traders gear up for huge central bank meetings in the US and Japan this week, hoping authorities press on with their loose monetary policies.

Most Asian markets sink again, led by Tokyo

By AFP - Thursday, 15 September 2016.

World Bank chief Kim heads for 2nd term, as no other nominees

By AFP - Thursday, 15 September 2016.

WASHINGTON: World Bank President Jim Yong Kim effectively won a second five-year term after nominations to lead the global development bank closed Wednesday with no other candidates proposed.

Nokia to cut deeper as red ink spills

By AFP - Thursday, 4 August 2016.

HELSINKI: Finnish telecom equipment manufacturer Nokia said Thursday it aims to accelerate savings after costs of absorbing former French-American rival Alcatel-Lucent pushed it into a second-quarter loss.

Oil down 5 pct to 2-month lows as U.S. crude draw disappoints

By Reuters - Friday, 8 July 2016.

NEW YORK: Oil prices fell 5 percent to two-month lows on Thursday after the U.S. government reported a weekly crude draw within analysts’ forecasts that disappointed market bulls expecting larger declines.

Samsung Electronics flags 17% jump in operating profit

By AFP - Thursday, 7 July 2016.

SEOUL: Samsung Electronics on Thursday flagged its biggest operating profit in more than two years, boosted by cost-cutting efforts and solid sales of its latest flagship smartphone.

Bank of England to take to 'all necessary steps'

By AFP - Friday, 24 June 2016.

LONDON: The Bank of England will take “all necessary steps” to ensure monetary and financial stability after Britain’s decision to leave the European Union, it said Friday.

Indonesia growth slower than forecast in blow to Widodo

By AFP - Wednesday, 4 May 2016.

JAKARTA: Indonesia’s growth rate was slower than forecast in the first quarter of 2016, official data showed Wednesday, in a blow to President Joko Widodo’s efforts to boost Southeast Asia’s top economy.

Samsung to reform authoritarian culture to act like startup

By AP - Thursday, 24 March 2016.

SEOUL: Samsung Electronics says it will reform its authoritarian, top-down corporate culture in a bid to act like a lean startup.

Moody's downgrades Hong Kong outlook to 'negative'

By AFP - Saturday, 12 March 2016.

HONG KONG: Ratings agency Moody’s downgraded its outlook for Hong Kong on Saturday, citing increasing political riskiness and closer economic ties with China, which is facing a growth slowdown.