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Business 24 Feb 2021 | 7:00 AM

Petrobras shares slump as Bolsonaro slams policies

RIO DE JANEIRO: Petrobras shares plunged 22% on Monday, wiping out 71 billion reais (US$13bil) in market value, as Brazilian President Jair Bolsonaro again slammed its pricing policies after he replaced the state-controlled oil company’s market-friendly chief executive officer with a retired army general.

Business 27 Jun 2019 | 12:00 AM

Funds flock to India, Indonesia to escape slumping yields

SINGAPORE: Never mind the trade war. A looming US interest-rate cut is set to replace tariff headlines as the key driver of developing Asian bonds, according to money managers.As traders count down to the Group of 20 summit this week, global funds are looking beyond the outcome to focus on an expected easing in Federal Reserve policy. Portfolio managers reason that regional central banks are likely to follow in the Fed’s footsteps, and this would galvanise demand for Asian bonds.

Business 04 May 2019 | 12:00 AM

UK property brokers shun Brunei fund over anti-gay laws

London: Brunei is facing unexpected hurdles on a prestigious London property project as the kingdom comes under fire for introducing laws persecuting homosexuals.

Business 30 Apr 2019 | 7:08 AM

Singapore’s US$200b investor seeks more US holdings

SINGAPORE: Singapore’s US$200bil state investor is gearing up for more deals in the U.S.

Corporate News 12 Mar 2019 | 11:28 PM

Largest college admissions fraud scam in US history unearthed

BOSTON: Federal authorities arrested dozens on Tuesday for a US$25 million (£19.1 million) scheme to help wealthy Americans, including actresses Felicity Huffman and Lori Loughlin and some CEOs, cheat their children's way into elite universities, such as Yale and Stanford.

Economy 30 Jan 2019 | 12:00 AM

Sneakers auction company opens in London

LONDON: As the European retail industry tries to bat off the incursion from Inc, a new US rival has just touched down in London: StockX, a three-year-old company that runs online auction markets for products like sneakers.