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China, HK shares slump tech leads losses after Huawei CFO arrest

HONG KONG: Sharp losses in technology shares pulled down benchmark stock indexes in China and Hong Kong on Thursday, after the global chief financial officer of Chinese technology giant Huawei was arrested in relation to alleged violations of US sanctions.

Global chief financial officer of Chinese technology giant Huawei was arrested in relation to alleged   violations of US sanctions.

MyEG assures investors about Indonesian ops

KUALA LUMPUR: My EG Services has assured fund managers about the expected losses at the Indonesia operations as it would over time, trim down its stake to below 20% in the special purpose vehicle (SPV) and treat it as an investment in its balance sheet.

My EG Services has assured fund managers about the expected losses at the Indonesia operations as it would over time, trim down its stake to below 20% in the special purpose vehicle (SPV) and treat it as an investment in its balance sheet.

CIMB Research sees Kossan recording strong quarters

KUALA LUMPUR: CIMB Equities Research expects glove maker Kossan Rubber Industries Bhd to record stronger quarters ahead, with full contribution from Plants 16 and 17 (1.5 billion pieces per annum capacity) which were fully commissioned in August and November, respectively.

IMB Equities Research expects glove maker Kossan Rubber Industries Bhd to record stronger quarters ahead, with full contribution from Plants 16 and 17 (1.5 billion pieces per annum capacity) which were fully commissioned in August and November, respectively.

Noripah Kamso new chairman of Bank Rakyat

KUALA LUMPUR: The Entrepreneur Development Minister has appointed Datuk Noripah Kamso as the new chairman of Bank Rakyat with effect from Thursday.

Datuk Noripah Kamso is the new chairman of Bank Rakyat.

World's biggest oil traders paid bribes in Brazil scandal

RIO DE JANEIRO/SAO PAULO: Leading global oil traders Vitol [VITOLV.UL], Trafigura [TRAFGF.UL] and Glencore paid more than US$30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday.

Top executives of the international companies had "total and unequivocal" knowledge of the graft involving Petroleo Brasileiro SA, known as Petrobras, investigators said at a news conference. The bribes took place between 2011 and 2014, investigators said.

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