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Business 12 Jul 2017 | 12:00 AM

Mt. Gox chief denies embezzlement as trial opens

TOKYO: The 32-year-old chief executive of defunct Mt. Gox pleaded not guilty to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world’s biggest bitcoin exchange.

Auto 12 Jul 2017 | 12:00 AM

China vehicle sales rebound in June amid price cuts

BEIJING: China’s vehicle sales rebounded in June, the country’s top industry association said, shaking off weakness seen in the previous two months as carmakers grappled with a rollback in tax incentives that drove strong growth last year.

Commodities 12 Jul 2017 | 12:00 AM

Aramco to spend US$300bil as CEO frets about supplies

ISTANBUL: Saudi Aramco, which plans what could be the world’s biggest initial public offering (IPO), will invest more than US$300bil over the next decade to maintain its spare oil-production capacity and explore for more natural gas, president and chief executive officer Amin Nasser said.

Economy 12 Jul 2017 | 12:00 AM

China may start pumping cash into the system again

BEIJING: An onslaught of maturing funds may see China’s central bank reaching for the fire hose.

Economy 12 Jul 2017 | 12:00 AM

The Philippines posts record trade deficit in May

SINGAPORE: The Philippines posted its biggest trade deficit since data became available, fueled by a rapidly expanding economy. The currency slumped to its weakest level since 2006.

Corporate News 12 Jul 2017 | 12:54 AM

Trading ideas: ML Global, BHIC, UPA, Sealink

KUALA LUMPUR: JF Apex Research expects ML Global, Boustead Heavy Industries Corporation (BHIC), UPA Corporation and Sealink to be among the stocks to watch on Wednesday.

Telcos 12 Jul 2017 | 2:52 AM

Axiata-Telekom remerger will enhance value, says AmInvest Research

KUALA LUMPUR: AmInvestment Research is maintaining its Buy call on Axiata Group with unchanged forecasts and sum-of-parts-based fair value of RM6.30 a share.

Corporate News 12 Jul 2017 | 5:04 AM

Axiata: No order from Nepal govt to bar repatriating of dividends

KUALA LUMPUR: Axiata Group Bhd says its Nepal subsidiary Ncell Private Ltd has been fully cleared of the capital gains tax (CGT) payment after it made a further deposit of 13.6 billion Nepalese rupees (RM563.63mil) to the Nepalese tax department, also known as the Large Taxpayers Office (LTPO).

Corporate News 12 Jul 2017 | 6:46 AM

HSBC sees rupee drop as foreigners put brakes on India flows

MUMBAI: The Indian rupee may weaken as global funds start to hit buying limits for the nation’s debt and valuations for equities look expensive, according to HSBC Holdings Plc.

Corporate News 12 Jul 2017 | 9:04 AM

Reach Energy, Mangystau ink MoU to enhance M’sia-Kazakhstan ties

ASTANA (Kazakhstan): Reach Energy Bhd, a listed Malaysian oil and gas exploration production company, on Wednesday inked a memorandum of understanding (MoU) with Akimat, the regional government of Mangystau, southwestern region of Kazakhstan.