News

Sat, 13 Oct 2018 13:12:37 GMT

Fitch says tensions with US did not affect ratings

Credit rating agency Fitch has not changed its stable credit forecast for the Asian region, saying that the current trade tensions with US were not enough to speak about ratings downgrades.

Sat, 13 Oct 2018 13:08:08 GMT

China to maintain stable value of yuan

The People's Bank of China Governor Yi Gang promised on Saturday to ensure and maintain "broadly stable" value of its national currency.

Sat, 13 Oct 2018 12:28:36 GMT

StanChart "actively working" on PT Bank Permata's stake

Standard Chartered's CEO Bill Winters stated that the British lender was "actively working" on various options for its Indonesian bank Permata on the back of speculations that its ownership structure might be changed.

Sat, 13 Oct 2018 12:22:05 GMT

China's Shenzhen to provide listed firms with liquidity support

China's Shenzhen city government is planning to provide a liquidity support, worth billions of yuan, to listed companies, as it seeks to lower the pressure from forced liquidations due to a downturn.

Sat, 13 Oct 2018 11:36:34 GMT

ST Engineering gets $5.5M Singapore contract for smart lamp-posts tests

ST Engineering has been granted with a $5.5M Singapore contract to test the smart lamp-post project that includes fitting cameras and sensors to the city-state posts.

Sat, 13 Oct 2018 11:33:06 GMT

Alibaba's Jack Ma plans institute opening for tech entrepreneurs

On Saturday, Alibaba Group Holding's executive chairman Jack Ma stated he was seeking to establish an institute for thousands of technology entrepreneurs in Indonesia, as he has become the government's adviser on e-commerce.

Sat, 13 Oct 2018 10:31:05 GMT

China's Icicle acquires French couture house Carven

China's high-end retailer Icicle Fashion Group has acquired France's label Carven, saving the brand from bankruptcy and planning to revive the couture house, it stated on Friday.

Sat, 13 Oct 2018 10:27:44 GMT

Sears plans 150 store shutdown amid bankruptcy

Sears Holding is planning to shut down about 150 of its discount and department stores, keeping up to 300 stores open amid its restructuring plan under the US bankruptcy protection.

Sat, 13 Oct 2018 09:37:36 GMT

RWE may phase out mining jobs as court delays expansion plan

Germany's utility RWE may cut mining jobs at the Hambach site, after a court has delayed the plan for mine expansion by clearing ancient forest, utility's CEO stated on Saturday.

Sat, 13 Oct 2018 09:36:05 GMT

Australia's delivery of F-35 jets still on track

On Saturday, Australia's Defence Force stated that its F-35 jet deliveries from the United States were not disrupted, despite a crash that took place in September.

Sat, 13 Oct 2018 08:25:17 GMT

Bundesbank head sees less chances for US-China trade war to escalate

On Saturday, the President of Germany's Bundesbank Jens Weidmann stated he thought there were little chances that the trade war between the United States and China would escalate.

Sat, 13 Oct 2018 08:23:00 GMT

Ceconomy's CEO resigns amid profit warnings

The EU largest consumer electronics retailer Ceconomy stated on Saturday that its Chief Executive Officer would quit with immediate effect after the company's shares plunge on the back of profit warnings.

Sat, 13 Oct 2018 07:00:46 GMT

Japan wants to discuss global imbalances

According to government officials, as a chair of the next G20 meeting Japan wants to emphasize the importance of global imbalances and discuss ways to fix them.

Sat, 13 Oct 2018 07:00:40 GMT

China to continue work with Britain despite US restrictions

China General Nuclear Power Corp (CGN) stated on Saturday that it would continue participating in project in Britain despite restrictions imposed on acquisition of the US technology.

Sat, 13 Oct 2018 06:01:24 GMT

ST Engineering gets major Singapore contract

Singapore Technologies Engineering has become a winner of a $5.5M contract to install and probe smart lampposts in the country's centre within the framework of a "Smart Nation" government's plan.

Sat, 13 Oct 2018 06:01:19 GMT

Yuan depreciation contradicts country's interest

The US Treasury Secretary Steven Mnuchin stated on Saturday that several Chinese officials said him this week that continuation of yuan depreciation did not correspond with the country's interests.

Sat, 13 Oct 2018 05:21:14 GMT

Mnuchin: China-US trade war is not threat to global economy

On Saturday, the US Treasury Secretary Steven Mnuchin claimed that a trade dispute between China and the US is not a threat to the growth of the global economy and pushing China to open would be beneficial for everyone. 

Sat, 13 Oct 2018 05:14:24 GMT

Central Bank of China: market should play the major role in yuan's rate

On Saturday, the governor of the Central Bank of China Yi Gang claimed that the government of China would continue to let the market play the major role in establishing Yuan's currency exchange rate.

Sat, 13 Oct 2018 03:32:10 GMT

Broadcom obtains anti-monopoly clearance from the EU for CA Technologies deal

On Friday, US chipmaker Broadcom Inc claimed that it has got antimonopoly clearance from the EU for its upcoming $19B deal to acquire a software making company CA Technologies Inc.

Sat, 13 Oct 2018 03:31:41 GMT

US Bolton urges Trump's administration to be tougher to China

On Friday, the US national security advisor John Bolton claimed that the administration of the US President Donald Trump needs to maintain tough approach to China.

Sat, 13 Oct 2018 02:38:42 GMT

Facebook: cyber attackers steal data from 29 million users

On Friday, Facebook Inc claimed that cyber attackers have stolen personal data from 29 million users of the social network using a program which moved from one friend to another one.

Sat, 13 Oct 2018 02:37:03 GMT

Walmart acquires US lingerie retailer Bare Necessities

On Friday, US retail giant Walmart Inc reported that it has acquired online lingerie retail company Bare Necessities, confirming the second acquisition of apparel brand in the last two weeks.

Fri, 12 Oct 2018 19:51:26 GMT

New York Fed publishes US GDP forecast

On Friday, the New York Fed revealed its Nowcast model's GDP forecast for the fourth quarter. The projected growth is set at 2.77%.

Fri, 12 Oct 2018 19:51:17 GMT

US investigates possible Chinese dumping

The US Department of Commerce revealed on Friday that an investigation is ongoing into possible dumping of Chinese-made mattresses.

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