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Business

Oil prices resume fall, shed most of their gains from last session(Update)

BEIJING/SINGAPORE: Oil prices fell on Thursday to erase most of their gains from the day before, resuming declines seen earlier in the week amid worries about oversupply and the outlook for the global economy..

Business

Malaysian palm oil price hits 8-week high, tracking stronger edible oils

KUALA LUMPUR: Malaysian palm oil futures rose more than 2 percent to an eight-week high on Wednesday evening, tracking gains in U.S. soyoil on the Chicago Board of Trade and palm olein on China's Dalian Commodity Exchange.

Business

AirAsia urges regulator, policymakers to rescind PSC hike

KUALA LUMPUR: Regulators and policymakers in the airline industry have been urged to rebuff the additional RM23 passenger service charge (PSC), which AirAsia believes is an unfair and unreasonable attempt by Malaysia Airports Holdings Bhd (MAHB).

TECH

Bitcoin declines won't get (too much) worse, says expert

Michael Novogratz doesn’t expect Bitcoin’s price declines to deepen much more, despite a dismal run for virtual currency investors in 2018.

TECH

Elon Musk unveils his first Los Angeles-area tunnel

Billionaire entrepreneur Elon Musk made a brief public appearance late on Tuesday to unveil the first tunnel completed by the underground transit venture he launched two years ago as an ambitious remedy to Los Angeles' infamously heavy traffic.

Business

Elon Musk unveils his first Los Angeles-area tunnel

LOS ANGELES: Billionaire entrepreneur Elon Musk made a brief public appearance late on Tuesday to unveil the first tunnel completed by the underground transit venture he launched two years ago as an ambitious remedy to Los Angeles' infamously heavy traffic.

Business

Sydney's property plunge will be central bank's biggest worry

SYDNEY: Sydney’s plunging house prices are usurping a prolonged wage slump as the key worry for the central bank, with markets now showing more chance of an interest-rate cut than a hike in 2019.

Business

Crypto market rife with pump-and-dump schemes, study shows

HONG KONG: Scammers have been successfully manipulating the price of digital assets including Bitcoin so they can dump their holdings onto unsuspecting traders at a higher price, according to a new academic paper mapping out the extent of market abuse in cryptocurrencies.

Business

Chinese city's property easing a test of central govt resolve as economy slows

BEIJING/SHANGHAI: The Chinese city of Heze has reversed a rule designed to curb real estate flipping, boosting shares in property developers on Wednesday and sparking speculation that more cities could follow suit as slowing sales weigh on the economy.

Economy

November CPI up 0.2% year-on-year

KUALA LUMPUR: The Malaysian consumer price index (CPI) rose 0.2% in November to 121.0 compared with 120.8 recorded in the same period a year ago, said the Department of Statistics.