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Money
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US Treasury names small businesses that took pandemic aid, says 51.1m jobs supported
WASHINGTON, July 6 — The Trump administration today released the names of hundreds of thousands of businesses which took money from a high-profile US$660 billion (RM2.8...
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Report: Britain set to axe Huawei 5G involvement
LONDON, July 6 — China’s ambassador to Britain today warned that London faced a risk to its international reputation if it blocked Huawei from the nation’s 5G network. The...
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AirAsia posts RM803.85m loss in Q1 despite Ebitda breakeven
KUALA LUMPUR, July 6 — AirAsia Group Bhd recorded a net loss of RM803.85 million for the first quarter ended March 31, 2020, compared with a net profit of RM96.09 million in the...
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Indonesia’s Lion Air slashes 2,600 jobs as virus bites
JAKARTA, July 6 — Indonesia’s Lion Air Group is slashing 2,600 jobs as the coronavirus pandemic hammers Sout-east Asia’s biggest carrier, a company spokesman said today. The...
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US stocks open stronger, continuing rally
NEW YORK, July 6 — Wall Street opened higher after the long holiday weekend today, extending last week’s rally that was fuelled by positive economic signs despite the...
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Uber buys delivery startup Postmates for US$2.65b
WASHINGTON, July 6 — Uber said today it was buying delivery startup Postmates for US$2.65 billion (RM11.4 billion) in stock, in a move shaking up the sector which has seen...
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Survey: US services sector returned to growth in June
WASHINGTON, July 6 — The US services sector grew in June after the coronavirus pandemic caused its steepest-ever contraction the month prior, an industry survey said today. The...
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Airbnb recommends extension of tourism incentives to STRA hosts
KUALA LUMPUR, July 6 — Airbnb has lauded the Malaysian government for the several key incentives dedicated to businesses in the tourism sector under the economic stimulus...
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EU will stand firm against Washington over trade disputes, says commissioner
BRUSSELS, July 6 — The European Union will take decisive action against the United States if it is unwilling to settle a long-running row over aircraft subsidies and presses...
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Patchy demand at stores spells more pain for garment suppliers
MADRID, July 6 — Fashion brands and retailers re-opening around the world to patchy demand, and carrying unsold stock from spring have cut fall orders by as much as two-thirds...
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Britain’s Pret A Manger to close 30 UK shops, could cut over 1,000 jobs
LONDON, July 6 — British coffee and sandwich chain Pret A Manger said today it will not reopen 30 UK shops after the coronavirus lockdown and could cut around 1,000 jobs,...
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UMK proposes centre for national business incubator
KOTA BARU, July 6 — The proposed National Business Incubator at Universiti Malaysia Kelantan (UMK) is expected to provide numerous benefits to the residents as well as the local...
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IILM issues US$1.01b sukuk
KUALA LUMPUR, July 6 — The International Islamic Liquidity Management Corporation (IILM) has reissued a total amount of US$1.01 billion (RM4.3 billion) short-term A-1 rated...
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MASKargo makes maiden freighter flight to Myanmar
KUALA LUMPUR, July 6 — MAB Kargo Sdn Bhd’s (MASkargo) inaugural freighter flight to Myanmar arrived in Yangon International Airport (RGN) last Saturday evening with 60 tonnes...
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Ringgit ends higher
KUALA LUMPUR, July 6 — The ringgit ended higher against the US dollar today on the back of higher oil prices amid tight supply in the market. As at 6pm, the ringgit was quoted...
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Lloyds Bank boss Horta-Osorio to step down after a decade at the helm
LONDON, July 6 — Lloyds Bank Chief Executive Antonio Horta-Osorio said today he would step down next year after a decade at the helm, leaving Britain’s biggest domestic bank...
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MPOB: 96.04pc of oil palm estates have achieved MSPO certification
KUALA LUMPUR, July 6 — As of June 30, some 3,040 oil palm estates or 96.04 per cent of the total, comprising 4.06 million hectares, have obtained the Malaysian Sustainable Palm...
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Bursa Malaysia ends on a firm note, up 1.56pc
KUALA LUMPUR, July 6 — Bursa Malaysia ended 1.56 per cent firmer today in tandem with the performance of its regional peers, taking a cue from the surge in Chinese blue chips....
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British insurer Aviva appoints female CEO
LONDON, July 6 — British insurer Aviva today appointed Amanda Blanc as chief executive, replacing with immediate effect Maurice Tulloch who has stepped down for “family health...
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1,000 jobs to go at German aircraft engine firm
BERLIN, July 6 — German aircraft engine manufacturer MTU Aero Engines said today it is planning to cut at least 1,000 jobs as the impact of the coronavirus continues to hammer...
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Asian markets rally on recovery hopes, despite virus surge
HONG KONG, July 6 — Asian markets rallied out of the blocks today, with further signs of economic recovery continuing to resonate with investors more than a surge in coronavirus...
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Chipmaker SMIC plans biggest China’s IPO in a decade
SHANGHAI, July 6 — China’s largest chipmaker, Semiconductor Manufacturing International Corporation, is planning to raise as much as US$7.5 billion (RM32 billion) in a...
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Sterling falls vs euro, steady vs dollar; Chancellor’s support measures in focus
LONDON, July 6 — The pound fell against the euro, as the common currency rose today, and held steady against the US dollar, as traders looked ahead to this month’s Brexit...
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UK decision on Huawei not set in stone, says minister
LONDON, July 6 — Britain’s decision to allow China’s Huawei to play a limited role in building its 5G network is not “fixed in stone” and is being reviewed following the...
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Hong Kong stocks end with more big gains
HONG KONG, July 6 — Hong Kong stocks soared again Monday, tracking a surge in mainland Chinese markets and extending a rally into a fourth day on hopes for the economic recovery...
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China rally triggers gains in European cyclical stocks
FRANKFURT, July 6 — European shares jumped in early trading today, with a rally in China's markets setting an upbeat tone as investors banked on the world's second biggest...
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British homebuilder Barratt's volumes drop by a third, but order book thickens
LONDON, July 6 — Barratt Developments said today its deliveries had fallen by a third as the coronavirus crisis halted construction activity, though the British homebuilder...
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In Israeli settlements, money is on annexation real estate boom
ARIEL, July 6 — In the Jewish settlement of Ariel, Perri Ben Senior can't wait for Israel to annex this part of the occupied West Bank, hoping it will be a boon for her real...
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Bursa ends morning session higher
KUALA LUMPUR, July 6 — Bursa Malaysia ended the morning session higher tracking the performance of regional peers, taking the cue from the surge of Chinese blue chip stocks....
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UK new car sales post smaller slump in June on annual basis
LONDON, July 6 — British new car registrations fell by a third on an annual basis in June when many dealerships reopened after Covid-19 lockdown measures were lifted, according...
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Uber, Postmates agree on US$2.65b all-stock deal, reports Bloomberg News
NEW YORK, July 6 — Ride-sharing company Uber Technologies Inc has agreed on a deal to buy food-delivery app Postmates Inc in a US$2.65 billion (RM11.35 billion) all-stock...
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Brexit talks move to London after tough week in Brussels
LONDON, July 6 — Britain's separation talks with the European Union resume today with few signs of compromise on a new trade agreement and time running out to avoid a messy...
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Ringgit edges up against US dollar at opening
KUALA LUMPUR, July 6 — The ringgit opened slightly better than the US dollar following the weaker greenback as risk appetite rose amidst the rising Covid-19 cases in the United...