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Vehicle sales up in January on CNY promotions

PETALING JAYA: Total vehicle sales in January rose 9% to 48,450 units from 44,560 units a year earlier, underpinned by promotions for the Chinese New Year (CNY) festive celebrations and clearance of 2018 stocks.

An analyst from a bank-backed brokerage said sales in January were boosted by the demand for both Proton’s and Perodua’s new sport-utility vehicles (SUVs).

Vehicle sales up 9% to 48,450 units in January

KUALA LUMPUR: Total industry vehicle (TIV) sales rose 9% to 48,450 units in January from a year ago due to the cleareance of 2018 stocks and promotions for the Chinese New Year festive celebrations.

World stocks lifted to 2 1/2-month highs by trade optimism

London: Hopes for progress in Sino-U.S. trade talks and expectations of policy stimulus from central banks lifted world stocks to 2 1/2- month highs on Monday, though European gains were held back by concern over the outlook for auto makers.

MSCI's All-Country World Index rose 0.4 percent after Japan's Nikkei closed up 1.8 percent at its high for the year and MSCI's index of Asian equities rose almost 1 percent. Shanghai blue chips surged 2.7 percent to their highest finish in more than six months.  Wall Street futures suggested that U.S. stocks would maintain last week's gains when trading starts again on Tuesday, after Monday's holiday.  The Dow and the Nasdaq had boasted eight consecutive weeks of gains on wagers the United States and China can resolve their protracted trade dispute.

China’s car sales tumble, road ahead bumpy

SHANGHAI: China’s automobile sales fell for a seventh straight month in January, the country’s top auto industry association said as demand slowed in the world’s largest auto market.

Steeper fall: A file picture showing cars on a main road in Beijing’s central business area. Car sales fell a steeper 15.8 from a year earlier to 2.37 million vehicles last month. — Reuter

Uber posts US$50bil in annual bookings

SAN FRANCISCO: Uber Technologies Inc had US$50bil in total bookings for its ride-service and food-delivery businesses last year, a testament to the size and global reach of the company as it prepares to woo investors in one of the biggest public stock listings to date.

Report: Nissan panel to recommend outside director to chair board

TOKYO: A Nissan Motor governance committee will recommend the appointment of an external director as board chairman, a role distinct from company chairman, in a move to decentralise power at the top level, the Nikkei business daily reported.

Go-Jek fields bank pitches amid US$3bil funding drive

HONG KONG: Go-Jek, Indonesia’s most valuable startup, is choosing an adviser to help with fundraising as it expands rapidly in the competitive Southeast Asian ride-hailing industry, people with knowledge of the matter said.