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09 December 2016 MARC has affirmed its AAA(bg) and AAA(fg) ratings on Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million 7-year Medium-Term Notes (MTN) Programme (Tranche 1) and RM300 million 9-year MTN Programme (Tranche 2) respectively with a stable outlook. Tranche 1 and Tranche 2 are guaranteed by Malayan Banking Berhad (Maybank) and Danajamin Nasional Berhad (Danajamin) respectively, and the ratings reflect the credit strength of the […]

The Twitter account of Indian entrepreneur Vijay Mallya was apparently hacked Friday morning after messages were posted on his page by individuals who claimed to be part of the same group that broke into the accounts of prominent opposition politicians last week. A message on Mr. Mallya’s Twitter said that his account had been hacked. Messages were briefly posted on his page inviting readers to follow a […]

The European Central Bank’s supervisory arm has rejected a request from Rome to delay a private sector-led rescue for Monte dei Paschi di Siena, leaving Italy little option but to inject state funds and impose losses on creditors. MPS asked the ECB for an extra five weeks to pull off a last-ditch €5bn equity injection for the lender, which emerged as the weakest in the European bank […]

By Luiza Ilie | BUCHAREST BUCHAREST When Romania’s leftist government collapsed a year ago amid outrage over a deadly nightclub fire, many people spied an opportunity for sweeping change in a country plagued by corruption and inept public services. But after the upswelling of public anger over the deaths of 64 people in the Club Colectiv, which lacked emergency exits and fire safety permits, the clamour for […]

Good morning. Regrets laced with irony Glenn Beck is sorry. He really is. He swears. He’s sort of like Miss Otis in Cole Porter’s oft-recorded 1934 “Miss Otis Regrets” (I’ll take Bette Midler’s version). She “woke up and found that her dream of love was gone, madam.” And, them, “from under her velvet gown, she drew a gun and shot her lover down, madam.” In this case, […]

FRANKFURT German semiconductor chipmaking machinery company Aixtron (AIXGn.DE) is considering reducing the size of the business with a partial sale, its chief executive said in an interview published on Friday, opening the door for bidders after a deal with a Chinese firm collapsed. “There are two options: First, we could hope that the markets for our products recover and continue investing high sums in new equipment. But […]

In 2011, as skincare brand Nivea marked its centenary with a string of parties across the world, Indian billionaire BR Shetty hosted his own private celebration in his extraordinary apartment in Dubai’s Burj Khalifa. No humble pied-à-terre, this pad occupies the entire 100th floor of the tallest building in the world — not bad for the former pharmaceutical salesman, who was one of the first people to […]

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By Lisa Twaronite and Wayne Cole | TOKYO/SYDNEY TOKYO/SYDNEY Asian shares edged down on Friday but were on track for weekly gains, while the euro became more settled after the volatility seen in the wake of the European Central Bank’s decision to trim the size of its asset purchase program while also extending it for longer than many analysts had expected. MSCI’s broadest index of Asia-Pacific shares […]

For the 2014-15 financial year, Apple, Samsung, Microsoft, and Google all upped the amount of tax they paid in Australia over the year prior. According to the Australian Taxation Office (ATO) 2014-15 Corporate Tax Transparency report, with revenue in the region totalling AU$8.3 billion, Apple coughed up AU$146 million in tax — AU$72 million more than the iPhone maker did in 2013-14. Similarly, Samsung, with 2014-15 revenue […]

Shares in casino operators took a tumble on Friday before recovering some poise, following a response from China’s UnionPay to a report that its daily withdrawal limit from ATMs in the gambling haven of Macau was to be halved as part of Beijing’s battle against capital flight from the mainland. China has moved in recent weeks to staunch capital gushing from the mainland, including tightening scrutiny of cross-border […]

Madrid, Spain – 09 November 2016 Fotowatio Renewable Ventures (FRV), a leading global developer of large-scale solar power plants and part of Abdul Latif Jameel Energy, has been awarded a 30 year 300 MW solar project in the second electricity market auction, conducted by the National Energy Control Center (CENACE) of Mexico. With this Build-Operate-Own agreement, FRV extends its global footprint into the Mexican market at very […]

Brexit may have come at the most fortunate time for the GCC. As the Gulf seeks greater support to fend off security risks in the region, including Iranian actions, and avenues to shore up bilateral trade in replacement of lost oil revenues, the UK is reaching out to old friends in a bid to strengthen non-mainland European relationships. “We will make it a priority, when the UK […]

Two days after the Mayor of Dallas, Mike Rawlings, filed a lawsuit against the Dallas Police and Fire Pension system to block withdrawals, which he referred to as a “run on the bank” of an “insolvent” pension system in “financial crisis, the Pension’s board has finally taken steps to halt further withdrawals.  Of course, this delayed action has come only after $500 million in deposits have been […]

Investors have valued Athene at about $7.4bn in a stock market launch of the US pensions provider, according to people familiar with the matter. Selling shareholders led by private equity house Apollo Global Management are set to raise $1.08bn as bankers handling the float prepare to price shares in the company at $40 apiece, the people said. That is the middle of a range of between $38 […]

08 December 2016 “The power and energy landscape in Africa is undergoing significant change” says Evan Schiff, African Utility Week event director, adding that current trends include “the availability of private investment for power and energy projects, the fast development of energy storage, renewable energy is becoming cheaper, gas that is an increasingly attractive mode of power generation in Africa, and that in the next 10 years, […]

Major U.S. stock indexes climbed again on Thursday and set fresh record highs as a month-long rally following the presidential election of Donald Trump rolled on. Investors have driven up equities since Trump’s Nov. 8 election over optimism about domestic economic stimulus and reduced corporate taxes and regulations. Supporting the upbeat sentiment on Thursday was a report that showed the number of Americans filing for unemployment benefits […]

RAK Properties has signed a AED30 million ($8.1 million) enabling works contract with Al Nuaimi Group for its upcoming Anantara Resort & Spa within the Mina Al Arab development. The contract between Al Nauimi Group and RAK Properties includes piling and earthworks for a 306-room resort, which will be operated by Minor Hotels under its Anantara brand when it opens in late 2018. The property will feature […]

For emerging markets, fears over the election of Donald Trump have yet to fully materialise. The prevailing view, says Ousmene Mandeng of EM investment fund New Sparta Asset Management, is that a Trump presidency is “negative for emerging markets”. Investors could foresee some benefit from a supply-side US boom that adds to world aggregate demand — but a less co-operative, protectionist US will have a structural negative […]

The deals, if finalized, would bring much-needed expertise and foreign investment to Iran’s ailing energy sector. Continue reading the main story Just as important, the agreements provide a lifeline to the rest of the world, experts say, critical to keeping dollars flowing and in cementing relations with European and Asian countries. Few Iranian officials like to acknowledge that in public, insisting that the country is immune to […]

By Estelle Shirbon and Michael Holden | LONDON LONDON Britain’s Supreme Court will decide as quickly as possible whether Prime Minister Theresa May can trigger Britain’s exit from the European Union by the end of March without parliament’s assent, its president said on Thursday. Last month, the High Court decided that May could not invoke Article 50 of the Lisbon Treaty, the EU’s exit clause, using executive […]

China’s Fujian Grand Chip Investment said it had dropped its offer for Aixtron, the German chip equipment maker, six days after President Barack Obama blocked the deal on national security grounds. Fujian’s takeover vehicle Grand Chip Investment said its offer had lapsed because it had failed to gain regulatory approval from the US Committee on Foreign Investment. Aixtron’s shares fell more than 4 per cent to €3.73 […]

DUESSELDORF, Germany Germany’s highest court will decide next year on complaints brought by utilities against a tax on nuclear fuel rods, a spokesman said on Thursday, in a further challenge to the government’s energy policy. E.ON, RWE and EnBW have demanded exemption from the tax, introduced in 2011, and are claiming back the roughly 5.8 billion euros ($6.2 billion) they have already paid. The tax requires companies […]

FRANKFURT China’s Fujian Grand Chip Investment Fund has dropped its takeover bid for German chip equipment maker Aixtron after U.S. President Barack Obama blocked the deal. Fujian’s takeover vehicle Grand Chip Investment said on Thursday its offer had lapsed as it had failed to obtain U.S. regulatory approval for the purchase, which had been a condition of the deal. Investors who had already accepted its takeover offer […]

The 19th edition of realty exhibition expecting to attract thousands of NRIs over the 3-day expo Investor confidence gets boost due to demonetisation, home loan rates to be down to 7-8%; RERA, GST and REIT to further improve transparency and bring healthier, sustainable growth Top developers across India meet for exclusive face-to-face interaction. Properties boast features such as eco-friendly housing, water recycling units and […]

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