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World

India watchdog members quit over jobs data dispute

NEW DELHI (Reuters) - The acting chairman and another member of a body that checks the quality of India's official data have resigned in protest at a delay in releasing jobs statistics as the economy comes under the spotlight before an election.

Business

Oil gains on tighter US supply, Venezuela sanctions

NEW YORK: Oil prices rose on Wednesday, as U.S. government data that showed signs of tightening supply and investors remained concerned about supply disruptions following U.S. sanctions on Venezuela's oil industry.

Business

US Fed says will be 'patient' on future rate hikes

WASHINGTON: The Federal Reserve on Wednesday signaled its three-year-drive to tighten monetary policy may be at an end amid a suddenly cloudy outlook for the U.S. economy due to global headwinds and impasses over trade and government budget negotiations.

Business

Stocks surge on Fed pledge to pause, US$ slips

NEW YORK: The dollar slid and equities surged on Wednesday, fuelled by Boeing and Apple's results and extended after the Federal Reserve pledged to be patient with future interest rate hikes, a change in tone that stock investors interpreted as a buy signal.

Business

Alibaba earnings growth slows as entertainment losses deepen

LOS ANGELES: Chinese e-commerce giant Alibaba on Wednesday unveiled revenue of $17 billion in the last three months of 2018, with net profits of $4.5 billion, up 33% from the same period the year before.

Business

Malaysia’s 2018 exports beat expectations

KUALA LUMPUR: Malaysia’s total exports growth in 2018 has beaten expectations as it rose to RM998.01bil, amid the US-China trade war and the uncertainties in the global environment.

TECH

Foxconn reconsidering plans to make LCD panels at Wisconsin plant

Foxconn Technology Group is reconsidering plans to make advanced liquid crystal display panels at a US$10bil (RM205bil) Wisconsin campus, and said it intends to hire mostly engineers and researchers rather than the manufacturing workforce the project originally promised.

Business

MARC lowers outlook on Segi Astana's RM415m notes to negative

KUALA LUMPUR: Malaysian Rating Corporation (MARC) has affirmed Segi Astana Sdn Bhd’s RM415mil debt notes but revised the outlook to negative from stable.

Business

Apple will lean more on subscriptions as iPhone sales drop

TOKYO: After reporting its toughest quarter since 2001 on slowing smartphone sales, Apple Inc. is eyeing services like Apple Pay and music that come on its gadgets to help drive growth: The company aims to increase the number of subscriptions to half a billion by 2020, from 360 million now.

Business

RAM expects lacklustre export growth at 3.1% in December

KUALA LUMPUR: RAM Ratings expects Malaysia’s export growth to remain lacklustre at 3.1% in December 2018 (November 2018: 1.6%) while export stimuli for Malaysia will remain limited through the next few months.