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Business

Major banks predict bullish outlook for oil

PETALING JAYA: The rally in the oil market is fuelling speculation that the price of Brent crude futures, the international benchmark, could reach US$70 a barrel by the end of the year. It had risen 23% over the past six months

Business

Snap revamps app to draw users after sluggish growth

SAN FRANCISCO: Snap Inc still isn’t meeting much-lowered projections for growth. Now the company is taking drastic measures to shape its future.

Business

Thailand holds rate with inflation seen meeting goal in 2018

BANGKOK: Thailand’s central bank kept its benchmark interest rate unchanged near a record low and said it could meet its inflation target next year.

Business

US, European stocks edge higher despite US tax-cut doubts

NEW YORK: Gains in technology shares helped push the U.S. stock market to record highs on Wednesday despite concerns that Republicans' plans to cut corporate taxes may not win congressional approval as early as expected, prolonging a rally that started in Asia and sent the MSCI All World Index to a record high.

Markets

Wall Street loses steam as banks, energy stocks weigh (Update 1)

NEW YORK: US stocks stalled in late morning trading on Wednesday as weak oil prices weighed on energy stocks and doubts over a Republican tax plan and the broader outlook for US growth hurt banks.

World

Short on boots and backing, West Africa force faces uphill battle

SEVARE, Mali (Reuters) - Snipers from a new West African force lie prone on a rooftop in central Mali, scanning the horizon for Islamist militants who have infiltrated this sparsely populated region south of the Sahara and made it a launchpad for deadly attacks.

Business Premium

Rising oil price helps Reach financing

PETALING JAYA: The rising oil price has worked in favour of Reach Energy Bhd which needs to raise about RM180mil to ramp up production of at its oil and gas fields in Kazakstan.

Business

Top foreign and local stories at 4pm

Top foreign and local stories at 4pm

TECH

Snapchat launches redesign as growth disappoints Wall Street

Snap Inc is redesigning its disappearing-message app Snapchat in an attempt to reach a broader audience, going back to the drawing board as Wall Street clobbered it for another quarter of slowing user growth.

Business

Virgin Australia considers going private as profits return

SINGAPORE: Virgin Australia Holdings Ltd said on Wednesday it was considering going private as it swung to profitability in the first quarter from a loss a year ago and forecast a continued improvement in the second and third quarter.