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Nissan said to be repatriating cash as Renault tensions simmer

BEIJING: Nissan Motor Co. plans to repatriate more than $1 billion in cash from its Chinese subsidiary, according to people familiar with the matter, a sign the Japanese automaker is building its financial firepower amid tensions with French partner Renault SA.

Bermaz Auto H1 results beat forecast, says CIMB Research

KUALA LUMPUR: Bermaz Auto results for the first of its financial year 2019 (1HFY19) Bermaz’s revenue grew by 36% on-year due to stronger sales in Malaysia (+67%), in spite of the weaker sales in the Philippines (-38%) due to the implementation of the Tax Reform for Acceleration and Inclusion law in January 2018.

Bermaz Auto is targeting 18,500 units from Malaysia and the Philippines in FY19F, which implies a softer 2HFY19 in view of the competitive market and cautious consumer sentiment due to uncertainties over the domestic and global economies.

Asia stocks up on Sino-US trade hopes, sterling nurses losses

SYDNEY: Asian stock markets edged ahead on Wednesday as U.S. President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with talk of an imminent party coup against British Prime Minister Theresa May.

Markets were careful to not get too optimistic and MSCI's broadest index of Asia-Pacific shares outside Japan firmed a modest 0.27 percent.  Japan's Nikkei rose 1.5 percent, while E-Mini futures for the S&P 500 were up 0.07 percent.

World stocks choppy on political sparring

NEW YORK: A gauge of global stock markets edged higher in volatile trade on Tuesday as investors waded through a chunk of geopolitical headlines, including threats by U.S. President Donald Trump to shut down the government over a funding fight and signs of a thaw in the U.S.-China trade battle.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York yesterday. - Reuters

Hyundai readies Palisade SUV in another shot at US market

SEOUL: Hyundai Motor Co began South Korean sales of its Palisade large sport-utility vehicle (SUV), a model it hopes will spearhead a sales recovery in the United States when launched in its major overseas market next year.

Latest model: An attendee photographs the 2020 Hyundai Palisade SUV after it was unveiled at AutoMobility LA trade show. The Palisade will replace the larger version of the Santa Fe as Hyundai’s biggest SUV. — AFP

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