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Trump says US may not impose more tariffs on China

WASHINGTON:U.S. President Donald Trump said on Friday that he may not impose more tariffs on Chinese goods after Beijing sent the United States a list of measures it was willing to take to resolve trade tensions, although he added it was unacceptable that some major items were omitted from the list.

The U.S. tariff rate on $200 billion in Chinese goods is set to increase to 25 percent from 10 percent on Jan. 1. Trump has threatened to impose tariffs on all remaining Chinese imports - about $267 billion more in goods - if Beijing fails to address U.S. demands.  "We may not have to do that," Trump told reporters at the White House. "China would like to make a deal.

Oil edges up in volatile session but falls for 6th straight week

NEW YORK: Oil ended slightly firmer after volatile trading on Friday, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns.

Brent settled up 14 cents, or 0.2 percent, at $66.76 a barrel. The global benchmark fell 4.6 percent in the week, the sixth consecutive decline.  U.S. crude settled unchanged at $56.46 a barrel after trading between $55.89 and $57.96. The contract, which had its steepest one-day loss in more than three years on Tuesday, fell 5.6 percent in the week, also its sixth straight weekly decline.

S&P, Dow advance on trade optimism

NEW YORK: The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq

The Dow Jones Industrial Average rose 123.95 points, or 0.49 percent, to 25,413.22, the S&P 500 gained 6.07 points, or 0.22 percent, to 2,736.27 and the Nasdaq Composite dropped 11.16 points, or 0.15 percent, to 7,247.87

Kossan Rubber reports higher Q3 profit

KUALA LUMPUR: Kossan Rubber Industries Bhd's net profit for the third quarter ended Sept 30, 2018 rose to RM54.1mil from RM45.7mil in the same quarter last year.

Mulpha to distribute shares in Mudajaya as dividend

KUALA LUMPUR: Mulpha International Bhd has proposed to distribute its entire stake in Mudajaya Group Bhd to its shareholders as dividend on the basis of one Mudajaya share for every 3.537 Mulpha shares held.

TM acting group CEO Bazlan Osman resigns

KUALA LUMPUR: Telekom Malaysia Bhd said on Friday that acting group chief executive officer Datuk Bazlan Osman has resigned effective immediately.

Datuk Bazlan Osman (left) and Imri Mokhtar (right) at a TM Unifi event in July.