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Top Glove’s core net profit above forecast, says CIMB Research
KUALA LUMPUR: Top Glove’s core net profit of RM101mil for the first quarter ended Nov 30, 2017 (1QFY18) was above expectations, at 26% of CIMB Equities Research and consensus’ FY18 estimates.
Oil gains on big drop in US crude stockpiles
Inventories down 5.2 million barrels last week
Bitcoin to be included in tax code for Denmark
COPENHAGEN: No one pays more tax, as a percentage of GDP, than the Danes.
Workers contribution to EPF reverts to 11% from January
KUALA LUMPUR: The employees' statutory contribution to the Employees Provident Fund (EPF) will revert to the original 11% for members below age 60, and 5.5% cent for those aged 60 and above with effect from Janauary 2018.
Fitch Rating upgrade for Indonesia months after S&P move
JAKARTA: Indonesia won a second sovereign rating upgrade this year, with Fitch Ratings raising its assessment to the second-lowest investment grade, months after S&P Global Ratings lifted the nation out of junk status. The nation’s stocks and currency rallied.
Asia’s most overworked country pushes for right to rest
SEOUL: President Moon Jae-in’s drive to give South Koreans their “right to rest” by slashing work hours is making little headway as lawmakers haggle over pay rates for weekends.
Leading index up 0.2% to 120.1 in October
KUALA LUMPUR: The Leading Index (LI), which monitors economic performance in advance, and the Coincident Index, which measures current economic activity, have improved in October 2017 compared to the previous month.
Could this be the start of a bubble bursting?
YESTERDAY the price of bitcoin was down more than 25% from an all-time high of nearly US$20,000 reached this past weekend.
Goldman sees rate hikes ahead as slack wrung out of labour market
WASHINGTON: President Donald Trump’s tax cuts hand him ownership of wherever the US economy turns starting in 2018, and at Goldman Sachs the view is that tighter monetary policy is ahead.
Credit Suisse risks 3rd straight loss on Trump tax overhaul
ZURICH: Credit Suisse Group AG is at risk of posting a third consecutive annual loss after predicting it will take a 2.3 billion-francs (US$2.33bil) hit from a US tax overhaul signed into law by President Donald Trump.
