|Saturday, May 27, 2017

Business News

Cathay Pacific to cut 600 jobs, including management staff

HONG KONG, May 22: Hong Kong’s flagship carrier Cathay Pacific Airways Ltd said on Monday (May 22) it will cut around 600 staff, including 190 management jobs and 400 non-management staff by mid-June. Cathay Pacific said no frontline employees, pilots or cabin crew would be affected by the announcement. In March, Cathay Pacific had said in an internal memo ...Full Article

New Trump trade rep Lighthizer spars over protectionism in Asia

HANOI, May 22: In a stormy first foray abroad for Robert Lighthizer, the new U.S. Trade Representative disagreed over protectionism with Asian and Pacific countries that look skeptically at ...Full Article

Softbank-Saudi tech fund becomes world’s biggest with US$93 bil of capital

RIYADH, May 21: The world’s largest private equity fund, backed by Japan’s Softbank Group and Saudi Arabia’s main sovereign wealth fund, said on Saturday it had raised over US$93 ...Full Article

US, Saudi firms sign tens of billions of dollars of deals as Trump visits

RIYADH, May 21: U.S. and Saudi Arabian companies signed business deals worth tens of billions of dollars on Saturday during a visit by U.S. President Donald Trump, as Riyadh ...Full Article

Ringgit to stay firm at around 4.30 to USD next week

KUALA LUMPUR, May 20: The ringgit is expected to stay firm at around the 4.30 level to the US dollar next week, driven by the positive Gross Domestic Product (GDP) ...Full Article

Brazil watchdog opens new probes into JBS-related insider trading

SAO PAULO, May 20: Brazil’s securities regulator said it launched four new probes against meatpacker JBS SA and other companies controlled by J&F Investimentos on Friday to investigate suspicious ...Full Article

Wall St. ends off session highs after fresh Russia probe reports

NEW YORK, May 20: U.S. stocks rose but closed below their session highs on renewed concerns about Donald Trump’s presidency, after two new reports related to a federal investigation into ...Full Article

Malaysia’s economy grows 5.6 pct in Q117

KUALA LUMPUR, May 19: Malaysia’s economy recorded robust growth of 5.6 per cent in the first quarter of this year (1Q17) against the 4.1 per cent registered in the ...Full Article

Ringgit extends losses to open lower against US dollar

KUALA LUMPUR, May 19: The ringgit extended yesterday’s losses to open lower today as most investors shifted their interest towards safe haven currencies, dealers said. At 9.05 am, the ...Full Article

China-Hong Kong bridge to unity, or tentacle of Beijing control?

PEARL RIVER ESTUARY, May 19: As a 30-kilometre bridge between Hong Kong and China across the Pearl River estuary nears completion, Chinese officials are hoping it will bring more ...Full Article
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