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Business 11 Oct 2016 | 12:00 AM

Indonesia’s new social contract

Finance Minister Indrawati sees tax amnesty programme as part of democratic reforms

Business 11 Oct 2016 | 12:00 AM

The threat posed by high global debt

THE world’s debt pile, standing at an unprecedented US$152 trillion, is posing a stiff challenge to central banks and governments as they look to lower these borrowings that threaten global growth.

Markets 10 Oct 2016 | 11:50 PM

Oil hits one year high as Russia ready to join output caps

NEW YORK: Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non-OPEC producers.

Economy 10 Oct 2016 | 4:55 PM

Contract theory earns pair Nobel Economics Prize

STOCKHOLM: Two US-based academics won the Nobel Economics Prize on Monday for groundbreaking research on contract theory that has helped design insurance policies, executive pay and even prison management.

Corporate News 10 Oct 2016 | 1:23 PM

Bina Puri, China firm to develop RM15bil Kuantan Waterfront Resort City

KUALA LUMPUR: Bina Puri Holdings Bhd and CCCC Dredging (Group) Co Ltd will form a consortium to build the Kuantan Waterfront Resort City with a gross development value (GDV) of RM15bil over the next 10 years.

Corporate News 10 Oct 2016 | 10:53 AM

KLCI closes flat, Sime weighs but Axiata, Maybank offset decline

KUALA LUMPUR: Blue chips closed flat on Wednesday, with Sime Darby, CIMB Group and Public Bank weighing on the FBM KLCI but gains by Axiata Group and Malayan Banking Bhd helped shore up the index.

Economy 10 Oct 2016 | 10:14 AM

UK, Finland-born economists win 2016 Nobel Prize for Economics

STOCKHOLM: UK-born Oliver Hart and Finland-born Bengt Holmstrom won the 2016 Nobel Economics Prize for “their contributions to contract theory”, the Royal Swedish Academy of Sciences said on Monday.

Business 10 Oct 2016 | 12:00 AM

Global elites step up defence of openness

WASHINGTON: Global policy makers are stepping up their resolve to combat an isolationist backlash that threatens to undermine years of opening borders to trade and investment.

Business 10 Oct 2016 | 12:00 AM

Kuroda: BoJ has room to increase monetary stimulus

WASHINGTON: Japan’s central bank still has room to increase monetary stimulus and doesn’t intend to reduce its bond-buying programme soon, governor Haruhiko Kuroda said in an interview.

Banking 09 Oct 2016 | 5:07 AM

Brazil is years away from regaining investment grade, says S&P

BRASILIA: The initial approval of a public spending cap is a step in the right direction, but it will still take years and other tough reforms for Brazil to regain its coveted investment-grade rating, a senior analyst with S&P Global Ratings told Reuters.