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Gold market authority threatens to blacklist UAE, other centres
THE world’s most influential gold market authority is threatening to stop bullion from countries including the United Arab Emirates (UAE) entering the mainstream market if they fail to meet regulatory standards, a letter seen by Reuters showed.
Westpac hobbled by spending needs as Australian banks adjust to pandemic economy
SYDNEY: Westpac Banking Corp lags rivals as its dated systems is forcing it to spend, rather than save, while profit margins are eroded by record-low interest rates, investors said after Australia's biggest banks issued earnings and trading updates.
Japan finds luring business from Hong Kong may be tough
TOKYO: Tokyo is on a charm offensive, hoping to lure firms in Hong Kong spooked by protests and a controversial security law imposed by China. But the city is proving a tough sell.
Key witness in Huawei CFO's arrest in U.S. extradition case declines to testify in Canada court
VANCOUVER/TORONTO: A key witness involved in the arrest of Huawei Chief Financial Officer Meng Wanzhou two years ago has decided not to testify in the Canadian court as part of Meng's ongoing witness cross-examination, the court heard on Monday.
Indonesia fund aims to raise US$15bil by offering multiple funds
JAKARTA: Indonesia’s new sovereign wealth fund will offer dedicated industry funds in a bid to drum up US$15bil investment and deepen access to global capital by South-East Asia’s biggest economy, Finance Minister Sri Mulyani Indrawati told Reuters.
Most US firms in China optimistic about Biden
BEIJING: Over 60% of American businesses in China are more optimistic about doing business in China after the results of the United States presidential election, according to a business group survey released on Friday.
Hard predicting in the age of polarisation
THE United States elections are nearly over, maybe. The country is divided down the middle but we still do not know whether the loser will get out of his playpen and concede to the winner.
Glove makers income tax RM2.8b this yr, RM4.7b next yr
The government decided no windfall tax will be imposed on glove manufacturers to avoid potential “opportunity costs/losses” such as glove manufacturing companies investing overseas instead of in Malaysia, and sending wrong signal to existing and potential investors in other industries.
Astra-Oxford shot is key to escaping pandemic
LONDON: Trial successes from Pfizer Inc and Moderna Inc have buoyed hopes that a Covid-19 vaccine is coming soon. But much of the world, outside of rich nations like the United States, is counting on another company’s shot to escape the crisis
Chinese fund managers look elsewhere to ride bitcoin bull
SHANGHAI/HONG KONG: As the price of bitcoin soars, Chinese cryptocurrency asset managers are looking to expand in places such as Hong Kong and Singapore, skirting an intensified crackdown at home.
