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Money
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Hong Leong Bank to continue providing financial relief assistance
KUALA LUMPUR, May 12 — Hong Leong Bank and Hong Leong Islamic Bank will continue to extend its targeted assistance payment/repayment packages to those facing cash-flow...
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US removes Xiaomi from blacklist, reversing late China jab by Trump
WASHINGTON, May 12 — The US Department of Defence will remove China’s Xiaomi Corp from a government blacklist, a court filing showed, marking a noteworthy reversal by the...
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Sources: Tesla seeks entry into US renewable fuel credit market
NEW YORK, May 12 — Tesla Inc is seeking to enter the multi-billion dollar US renewable credit market, hoping to profit from the Biden administration’s march toward new...
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Ringgit ends lower against greenback for second day running
KUALA LUMPUR, May 12 — The ringgit ended lower against the US dollar for a second consecutive day today, as inflation fears sweep Asia, coupled with the high number of daily...
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Rubber gloves, banks lift Bursa Malaysia higher
KUALA LUMPUR, May 12 — Bursa Malaysia ended the half-day trading day today modestly higher despite minor volatility in its key index, thanks to gains in banking and rubber glove...
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European stocks steady after yesterday’s rout, eyes on US inflation data
BRUSSELS, May 12 — European stocks steadied today after their worst selloff this year as strong earnings reports and signs of a speedy economic recovery offset concerns about a...
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Airbus revives plan for new single-aisle jet plant in Toulouse
PARIS, May 12 — Airbus has revived plans for a new production line for its A321neo jet in Toulouse, France, as it reshapes production of the medium-haul single-aisle jets that...
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Fed talk keeps dollar tied as focus remains on inflation
LONDON, May 12 — The US dollar hovered above a 2-1/2-month low versus major peers today, as traders hung on to bets that the Federal Reserve would remain steadfast in its easy...
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EU raises eurozone growth forecast as Covid-19 vaccinations ramp up
BRUSSELS, May 12 — The EU today sharply revised its growth forecasts for this year and next, saying an accelerated vaccination drive and the bloc’s landmark recovery plan...
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Commerzbank beats expectations despite costly restructuring
FRANKFURT, May 12 — Germany’s second-largest lender Commerzbank today turned in a solid first-quarter performance, surprising markets despite the drag on profits of a major...
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Pound stays strong, UK GDP beats expectations
LONDON, May 12 — The pound held steady above US$1.41 (RM5.82) today after UK GDP data for March beat market expectations, keeping investors optimistic about the UK’s economic...
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Kerjaya Prospek announces changes in boardroom following mandatory takeover
KUALA LUMPUR, May 12 — Following on conditional mandatory take-over offer in Eastern & Oriental Bhd (E&O), Amazing Parade Sdn Bhd is now the major shareholder of...
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IEA: Oil demand drops as Covid-19 surges
PARIS, May 12 — Oil demand dropped last month as the coronavirus surged in India and elsewhere, the IEA said today, in a reminder that the global recovery from the pandemic...
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Taiwan stocks plummet on virus restrictions and tech selloff
TAIPEI, May 12 — Taiwan’s stock exchange plunged more than eight per cent on Wednesday as investors fretted over fresh coronavirus restrictions and a wider selloff in global...
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Lessons from 2011 disaster help Toyota ride out chip shortage
TOKYO, May 12 — The global microchip shortage dragging on the auto industry has put barely a dent in production at Toyota, the world’s biggest automaker, thanks to lessons it...
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Toyota annual net profit jumps 10.3pc, further growth forecast
TOKYO, May 12 — Toyota’s full-year net profit jumped 10.3 per cent even as the pandemic hit the auto industry, the Japanese firm said today, projecting growth despite the...
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UK economy shrank 1.5pc in first quarter, official data shows
LONDON, May 12 — Britain’s economy contracted by 1.5 per cent in the first quarter as the country suffered a fresh coronavirus lockdown, official data showed today. The UK...
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Rubber gloves, banks lift Bursa Malaysia higher
KUALA LUMPUR, May 12 ― Bursa Malaysia ended the half-day trading day today modestly higher despite minor volatility in its key index, thanks to gains in banking and rubber glove...
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Inflation anxiety jolts stocks, Asia tumbles to two-month lows
SYDNEY, May 12 — An extended sell-off drove Asian shares to their lowest in seven weeks on Wednesday as surging commodity prices and growing inflationary pressure in the United...
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Bursa Malaysia slightly higher at mid-morning
KUALA LUMPUR, May 12 — Bursa Malaysia was slightly higher at mid-morning despite a minor volatility in its key index amid the emergence of bargain-hunting ahead of the long...
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Australia PM, seeking to secure economic revival, flags prolonged budget deficits
CANBERRA, May 12 — Australia’s budget will be in the red for the foreseeable future, Prime Minister Scott Morrison said today, as he defended the government’s big spending...
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Public Bank shares shine in early trade
KUALA LUMPUR, May 12 — Shares of Public Bank rose today and the counter was among the top five actively traded stocks on Bursa Malaysia this morning, hours after the...
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Fed rhetoric restrains dollar as traders eye inflation
SINGAPORE, May 12 — The US dollar hovered near its lowest levels of the year today as traders hung on to bets that the Federal Reserve would remain steadfast in its easy policy...
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Public Bank lifts Bursa Malaysia in early trade
KUALA LUMPUR, May 12 — Bursa Malaysia recovered from yesterday’s losses to open higher on Wednesday, thanks to buying support in the index-linked counters led by Public Bank....
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Ringgit eases against US dollar in early trade
KUALA LUMPUR, May 12 — The ringgit fell against the US dollar in the morning session today, weighed down by a high number of Covid-19 cases in recent days, said an analyst. At...
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Asia shares wallow near one-month lows on inflation anxiety
SYDNEY, May 12 — Asian shares languished near one-month lows today as investors speculated surging commodity prices and growing inflationary pressure in the United States could...
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Pipeline outage causes US gasoline supply crunch, panic buying
NEW YORK, May 12 — Gas stations from Florida to Virginia began running dry and prices at the pump rose yesterday, as the shutdown of the biggest US fuel pipeline by hackers...
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Wall Street closes lower as inflation jitters spark broad sell-off
NEW YORK, May 12 — US stocks closed lower yesterday as rising commodity prices and labour shortages fed fears that despite reassurances from the US Federal Reserve, near-term...
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Inflation woes push US stocks to one-month low, greenback struggles
NEW YORK, May 12 — US stocks hit a one-month low yesterday as speculation that rising inflation pressure could prompt interest rate hikes sooner rather than later dragged on...
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Mexico scraps tainted GM union vote, cites ‘irregularities’
MEXICO CITY, May 12 — Mexico’s labour ministry yesterday said it found “serious irregularities” in a union-led vote at the General Motors Co plant in the city of Silao,...
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EBay taps into NFT frenzy, allows sale on platform
NEW YORK, May 11 — Ebay Inc today allowed the sale of non-fungible tokens for digital collectibles like trading cards, images or video clips on its platform, the first...
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Veteran AP journalist to head Washington Post, first woman to hold the job
WASHINGTON, May 11 — The Washington Post named Sally Buzbee, a veteran journalist with the Associated Press, as executive editor on Tuesday, the first time a woman will head the...
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Major airline CEOs call for summit to speed UK-US travel
WASHINGTON, May 11 — The chief executives of major US and UK passenger airlines today called for a summit with the two governments to speed the reopening of transatlantic...