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Trump weighs six-month window for EU, Japan to curb auto sales


WASHINGTON: President Donald Trump will give the EU and Japan 180 days to agree to a deal that would “limit or restrict” imports into the U.S. of automobiles and their parts in return for delaying new auto tariffs, according to a draft executive order seen by Bloomberg.

MIDA approves RM129b investments for Penang

KUALA LUMPUR: Malaysian Investment Development Authority (Mida) approved 4,084 manufacturing projects for Penang in 2018 with investments totaling RM129.1bil.

 Companies such as Inari Group, Southern Steel, and DSEM System Technology hold much promise for business collaborations and opportunities, says Mida.

Economy expands by 4.5% in Q1 of 2019, above forecast

KUALA LUMPUR: The economy expanded by 4.5% at in the first quarter of March 31, 2019 (Q1 2019), which was slightly above economists' forecast of 4.3%, underpinned by services and manufacturing.

Indonesia has a grand US$412b plan to rebuild the country

JAKARTA: Indonesia is drafting ambitious plans for more than $400 billion in building projects, from constructing 25 airports to new power plants, as the government seeks to stoke growth in Southeast Asia’s largest economy, according to the country’s planning minister.

Trade war pushes ringgit to new low for the year

PETALING JAYA: The ringgit has hit a new low for the year, following continued uncertainty from the ongoing US-China trade war which has intensified over the past few days.

Commenting on the present moves in the currency market, Socio-Economic Research Centre executive director and economist Lee Heng Guie told StarBiz that the foreign exchange market volatility is likely to persist in the near term, given the considerable uncertainties surrounding the global environment.

Saudi’s non-oil stimulus may last beyond 2021

DUBAI: Saudi Arabia’s 200 billion-riyal (US$53bil) lifeline to its non-oil economy may be in place for longer than planned as the kingdom supports industries struggling to cope with reforms that pushed up costs and dampened demand.

Trump poised to sign order restricting foreign telcos

WASHINGTON: President Donald Trump plans in coming days to sign an executive order that would prohibit American firms from using gear made by foreign telecommunications companies that pose a security threat, according to an administration official.

Alibaba beats estimates as recommendations boost sales

HONG KONG (Bloomberg): Revenue at China’s biggest e-commerce company rose 51% to 93.5 billion yuan (US$13.6bil) in the three months ended in March, above the 91.7 billion-yuan average of analysts’ estimates compiled by Bloomberg. Adjusted earnings-per-share was 8.57 yuan, topping projections for 6.5 yuan.