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Sime port ops, disposal will benefit bottomline

PETALING JAYA: The liquidation of Sime Darby Bhd’s Guozhuang Port in Jining, China last week has raised questions whether the group will finally exit its port and logistics business in the republic.

US-China trade war: Fund managers pick stocks to boost portfolio

PETALING JAYA: With the US-China trade war heating up with no signs of abatement, fund managers on the home turf, who have been profit-taking, are actively buying into fundamentals locally and regionally to boost their equity portfolios.

Fortress Capital Asset Management CEO Thomas Yong (pic) said after a healthy portfolio performance in the first quarter, it has continued to stay invested in Asian equities.  “Having said that, cash levels have risen to almost 25% recently, as some of our portfolios profit-take on earlier positions and realign towards other undervalued opportunities."

Saudi Arabia says oil producers want to reduce inventories

JEDDAH, Saudi Arabia: Saudi Energy Minister Khalid al-Falih said on Sunday there was consensus among OPEC and allied oil producers to drive down crude inventories "gently" but his country would remain responsive to the needs of what he called a fragile market.

At the OPEC meeting on Sunday: Clockwise: UAE Energy Minister Suhail bin Mohammed al-Mazroui speaks to the media, Mohammed Barkindo, Secretary General of OPEC, is seen before the OPEC, An employee adjusts the Mexican flag at the meeting room before the OPEC meeting, Russian Energy Minister Alexander Novak is seen in the meeting room, Mustafa Sanalla, Libya's National Oil Corporation (NOC) chief speaks to the media, Nigerian oil minister Emmanuel Ibe Kachikwu speaks to the media. - Reuters

Beware of downside risks to the ringgit

DESPITE some optimism on the direction of the ringgit, there are concerns over downside risks fuelled by, among other factors, flaring trade tensions and the weakening of the yuan.

Investor confidence is expected to gradually return but there are concerns on the movement of the yuan to which the local currency is strongly correlated.

Direct entry by Petronas Chemicals into silicone business

PETALING JAYA: Petronas Chemicals Group Bhd’s (PetChem) acquisition of Dutch firm Da Vinci Group BV gives it immediate entry into the growing silicone business and will allow it to command higher and more stable profit margins.

J&J’s largest India plant lies idle

NEW DELHI: It was supposed to be Johnson & Johnson’s (J&J) biggest manufacturing plant in India. It was to eventually employ at least 1,500 people and help bring development to a rural area near Hyderabad in southern India.

Dubai free zone to refund US$354mil in fees

DUBAI: Dubai’s main port and biggest free zone authority plans to return 1.3 billion dirhams (US$354mil) in cash and bank guarantees to its clients in an effort to stimulate the broader economy.