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Financial stocks drag on KLCI, broader market stays positive

KUALA LUMPUR: The FBM KLCI ceded more ground at the start of the week as declines in financial stocks set the local market at odds with most regional peers.


Talk is cheap. Unless you’re a UBS banker

CARELESS talk costs dollars.


Huawei urges US to drop loser's attitude as carrier business revenue slips

HONG KONG: China's Huawei Technologies called on Washington to drop the "loser's attitude" and once again rubbished U.S. allegations its gear could be used by Beijing for spying, as its network business weakened amid mounting global scrutiny.

Corporate News

Handbag maker Hermes still benefiting from buoyant Asian demand

PARIS (Reuters): Upmarket handbag maker Hermes , one of the luxury brands still riding high on strong demand from Asian clients, said on Wednesday it had not observed any change in sales trends so far this year.


No rush to reverse Philippine rate hikes, central banker says

MANILA: Philippine central bank Deputy Governor Diwa Guinigundo said a quick reversal of last year’s monetary tightening -- either through a reduction in the amount of cash that banks must hold as reserves or a cut in key interest rates -- would be “bad economic or monetary policy.”


Most Malaysians believe financial sector strong, says MHP survey

KUALA LUMPUR: More than four-fifth of Malaysians believe the banking sector has a good reputation, 10 years after the global financial crisis and in the aftermath of the 1MDB scandal, according to a survey carried out by MHP Communications.


Facebook to invest US$300mil to help local news survive

(Reuters): Facebook Inc will invest US$300mil over three years in local news globally as it faces blistering criticism over its role in the erosion of the news business worldwide.


Belt and Road is more chaos than conspiracy

IS China’s Belt and Road Initiative a bold infrastructure vision, or a slush fund? The question is becoming more pressing.


WSJ investigation: China offered to bail out troubled Malaysian fund in return for deals

The secret discussions show how China uses its political and financial clout to bolster its position overseas


Nissan's Ghosn says he is innocent in first appearance since Nov arrest

TOKYO: Nissan Motor Co Ltd's ousted Chairman Carlos Ghosn defended himself against allegations of financial misconduct in a Tokyo court on Tuesday, declaring his innocence in his first public appearance since his arrest in November.