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Money
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Sterling extends losses after new Covid-19 restrictions
LONDON, September 23 — Sterling is having its worst month in four years and extended its fall against the dollar and euro on Wednesday after new long-lasting coronavirus...
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Top shipping insurance group will not cover ships linked to Nord Stream 2
MOSCOW, Sept 23 — The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because...
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KL shares broadly lower at midday
KUALA LUMPUR, Sept 23 — Bursa Malaysia ended the morning session broadly lower on persistent selling activities and also in line with regional markets. At 12.30pm, the benchmark...
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Covid-19 travel restrictions ravaged Spain hotel bookings in August
MADRID, Sept 23 — Travel restrictions around Europe aimed at curbing coronavirus contagion ravaged Spain’s tourism industry during the crucial month of August, depriving it of...
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Huawei chairman urges US to reconsider 'attack' on global supply chain
SHANGHAI, Sept 23 — Chinese telecom giant Huawei Technologies said today its supply chain was under attack from the United States and called on Washington to reconsider its...
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Malaysia Airlines defers payments on RM1.5b Islamic bonds
KUALA LUMPUR, Sept 23 — Malaysia's national carrier has deferred by six months payments to holders of RM1.5 billion in Islamic bonds, CIMB Investment Bank, the facility agent,...
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Asian business confidence rebounds sharply, pandemic casts shadow, survey shows
BENGALURU, Sept 23 — Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the...
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German consumer confidence ticks up despite virus fears
FRANKFURT, Sept 23 — The mood among German consumers has improved slightly, boosted by a stable labour market despite an upswing in coronavirus cases, a closely watched survey...
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Asian stocks struggle to build on Wall Street gains, US dollar rises
SINGAPORE, Sept 23 — Asia's stock markets struggled to emulate Wall Street's rebound today as persistent worries about the global economic recovery kept investors cautious,...
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Ringgit extends downtrend against US dollar at opening
KUALA LUMPUR, Sept 23 — The ringgit extended its downtrend against the US dollar at the opening today as the greenback resumed its sturdy position across the board. At 9am, the...
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Bursa Malaysia opens higher
KUALA LUMPUR, Sept 23 — Bursa Malaysia opened higher on mild buying interest across the market. At 9.20am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.60 points,...
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US dollar holds gains as virus woes hurt euro and sterling
TOKYO, Sept 23 — The US dollar held onto gains against major currencies today, supported by positive US economic data and concerns about a second wave of coronavirus infections...
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China's Ant takes another step towards US$35b IPO with registration move
SHANGHAI, Sept 23 — China's Ant Group submitted documents to the securities regulator for registration of the Shanghai portion of its IPO, the city's bourse said late yesterday,...
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Tesla's value drops US$50b as Musk's promised cheaper battery 3 years away
FREMONT, Sept 23 — Investors slashed US$50 billion (RM205.8 billion) from Tesla Inc's market value yesterday despite CEO Elon Musk's promise to cut electric vehicle costs so...
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Japan's SBI wants to shake up regional banks. It may get a Suga boost
TOKYO, Sept 23 — Japanese financial firm SBI Holdings Inc has ambitions to revive struggling regional banks by taking stakes and pushing them into higher-margin businesses — a...
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US airlines make urgent call for new bailout ahead of Oct 1 job cuts
WASHINGTON, Sept 23 — Major US airlines launched a last-ditch bid to persuade Congress to grant them a new US$25 billion (RM102.89 billion) bailout to help avert tens of...
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Air industry urges rapid testing instead of quarantine
GENEVA, Sept 23 — The global aviation industry called yesterday for the development of rapid virus tests for all passengers before departures as an alternative to quarantine...
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Libya's NOC says oil output to rise as it seeks to revive industry
LONDON Sept 23 — Libya's National Oil Company said it expected oil production to rise to 260,000 barrels per day (bpd) next week, as the Organisation of Petroleum Exporting...
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Nike cheers return of pro sports as earnings top expectations
NEW YORK, Sept 23 — Nike shares rocketed higher yesterday after the company reported blowout quarterly earnings on strong digital sales and its CEO cheered the return of pro...
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Wall Street closes higher on Amazon boost, despite economic worries
NEW YORK, Sept 23 — Wall Street stocks rebounded yesterday, led by a jump in Amazon.com, even as a likely delay in new fiscal stimulus by Congress and an increase in the number...
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Feuding minority shareholder agrees to exit India's Tata group
MUMBAI, Sept 23 — The largest minority shareholder in India's massive Tata group announced late yesterday that it would exit the conglomerate, ending a bitter years-long battle...
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Despite aid impasse, Mnuchin sees strong US rebound in Q3
WASHINGTON, Sept 23 — The United States is set for a strong economic rebound in the third quarter but additional government spending is still needed, Treasury Secretary Steven...
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Venezuela launches London appeal in battle for US$1b in gold
LONDON, Sept 23 — The Nicolas Maduro-backed Venezuelan central bank launched a landmark appeal in London yesterday over US$1 billion (RM4.1b) of gold reserves held in the Bank...
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Biden would end trade war with EU but focus on fixing imbalance in agricultural trade, says adviser
WASHINGTON, Sept 23 — Democrat Joe Biden would end the “artificial trade war” that US President Donald Trump has waged against Europe, while working to address persistent...
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US existing home sales approach 14-year high, prices scale record peak
WASHINGTON, Sept 23 — US home sales surged to their highest level in nearly 14 years in August as the housing market continued to outperform the overall economy, but record high...
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Nasdaq, S&P 500 edge higher on Amazon boost; Dow under pressure
SEPT 22 — The S&P 500 and the Nasdaq edged higher today, led by a bounce in shares of Amazon.com, while uncertainty over more US fiscal stimulus kept trading in Dow...
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French presidential palace requested LVMH letter, sources say
PARIS, Sept 22 — France’s presidential palace asked Foreign Minister Jean-Yves Le Drian to send luxury goods company LVMH a letter advising it to defer its acquisition of US...
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Dollar bounceback pauses, Aussie and Kiwi regain lost ground
LONDON, Sept 22 — The tide of risk-aversion which saw the dollar hit new six-week highs early today ebbed as the session wore on, as European equity markets rose, the dollar’s...
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IJM Corp announces three-year strategic focus
KUALA LUMPUR, Sept 22 — IJM Corporation Bhd has announced a three-year strategic focus built around three pillars: build resilience, drive growth, and nurture capabilities. Its...
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Asdion directors reprimanded by Bursa Malaysia
KUALA LUMPUR, Sept 22 — Bursa Malaysia Securities Bhd has reprimanded Asdion Bhd and five of its directors for breaches of the Bursa Malaysia Securities ACE Market...
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Ringgit eases against US dollar
KUALA LUMPUR, Sept 22 — The ringgit continued to close lower against the US dollar today despite a rebound in oil prices, due to the stronger greenback . As at 6pm, the local...
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As cash flees Macau junkets, gambling hub faces long odds of quick recovery
HONG KONG, Sept 22 — Fears China is broadening a crackdown on offshore gambling has sparked a rush to withdraw billions of dollars from the world’s biggest gambling hub Macau,...
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Bank Muamalat revises loan growth target to 7pc this year
KUALA LUMPUR, Sept 22 — Bank Muamalat Malaysia Bhd has revised its loan growth target to seven per cent this year from the 13 per cent initial target it set this year. Chief...