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Brokers call for India to probe claims of unfair exchange access

New Delhi / Bloomberg A panel advising India’s markets regulator found evidence that high-frequency traders gained unfair access to the nation’s biggest stock exchange, prompting two of the country’s largest brokerage associations to call for a formal investigation. The National Stock Exchange of India Ltd. “violated norms of fair access,” according to a copy of the panel’s internal report seen ...

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BlackRock joins $46bn Japan pullout

Tokyo / Bloomberg For global equity investors and Shinzo Abe, it’s splitsville. Starting in the first days of 2016, foreign traders have been pulling out of Tokyo’s stock market for 13 straight weeks, the longest stretch since 1998. Overseas investors dumped $46 billion of shares as economic reports deteriorated, stimulus from the Bank of Japan backfired and the yen’s surge ...

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Malaysia suspends Sharia-compliant plane

Kuala Lumpur / AFP Malaysia’s first Islamic-compliant airline has been suspended for three months after it failed to adhere to aviation regulations, a senior official said on Monday, as the government announced a safety audit of the carrier. “Rayani Air has been suspended for three months,” Azharuddin Abdul Rahman, director-general of the Department of Civil Aviation, said. “They contravened civil ...

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Indonesia to cut corporate tax cut by 20 percent

Jakarta / Bloomberg Indonesia plans to cut corporate tax to 20 percent this year, from 25 percent, as it tries to attract investment to spur the economy. The move will need parliamentary approval, Finance Minister Bambang Brodjonegoro said on Monday. A 20 percent rate will be “competitive,” he said. “If possible we will discuss it immediately, this year,” Brodjonegoro said. ...

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Taiwan’s exports retreat for 14 straight months

Taipei / DPA Taiwan Finance Minister Chang Sheng-ford said that exports in March showed no signs of improvement and suffered another double-digit decline in the midst of a slow economy. Chang broke the news to the Central News Agency one day before the Ministry of Finance is due to release March’s exports report. Given that adverse factors such as falling ...

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Greece points finger at IMF as German FM sees deal in weeks

Bloomberg Greece said it’s aiming for an agreement with creditors on the next tranche of emergency loans by the beginning of May as German Finance Minister Wolfgang Schaeuble sought to play down debt relief expectations. “We have almost identical estimates with the European Commission,” Minister of State Nikos Pappas, Prime Minister Alexis Tsipras’s closest ally in the government, said in ...

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UK’s Daily Mail in talks with potential Yahoo bidders

Bloomberg The publisher of Britain’s Daily Mail newspaper is interested in buying Yahoo! Inc.’s media and news properties, according to a person familiar with the matter, and is in talks to join with potential bidders who would carve up the U.S. Internet company. “Discussions are at a very early stage,” a representative for Daily Mail said on Monday in an ...

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Ukraine bonds rally as PM quits clearing way for overhaul

Bloomberg Ukraine’s bonds rose the most in a month after Prime Minister Arseniy Yatsenyuk resigned, boosting speculation a new cabinet will help end two months of infighting and pave the way for resuming international aid payments. The yield on the eastern European nation’s $1.65 billion note due September 2019 fell 26 basis points to 9.70 percent, the biggest drop since ...

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