March, 2017

• 22 March

  China’s shadow banks hit by money market squeeze

  

    Bloomberg This week’s squeeze in Chinese money markets is proving especially painful for the country’s shadow banks. While interbank borrowing rates have climbed across the board, the surge has been unusually steep for non-bank institutions, including securities companies and investment firms. They’re now paying what amounts to a record premium for short-term funds relative to large Chinese banks, according ...

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• 22 March

  Japanese exports jump most in two years in February

  

    Bloomberg Japan’s exports rose the most in two years in February, after a lull in January that was due to the Lunar New Year celebrations in Asian trading partners. Exports rose 11.3 percent from a year earlier (median estimate 10.1 percent), according to government data. Imports increased 1.2 percent (estimate 1.3 percent). The trade surplus for February was 813.4 ...

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• 22 March

  Tencent profit misses estimates amid surging operating costs

    Bloomberg Tencent Holdings Ltd. posted fourth-quarter profit that missed analysts’ estimates amid a surge in costs and rising competition in the mobile gaming market. Net income rose 47 percent to 10.5 billion yuan ($1.5 billion) in the three months ended December, the Shenzhen-based company said on Wednesday. That compares with the 11 billion-yuan average of analyst estimates compiled by ...

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• 22 March

  Oil near $50 hurts Gulf

  

  DUBAI / Reuters Major stock markets in the Middle East fell on Wednesday, following international bourses lower as crude oil prices traded down near $50 a barrel, but Kuwait jumped in heavy trading by local retail investors. The Saudi Arabian index lost 1.2 percent in low turnover, with all but one of the 14 petrochemicals makers falling by at least ...

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• 22 March

  US stocks mixed as rout eases, treasuries rise

  

    Bloomberg US stocks fluctuated after suffering the first 1 percent decline since October, while havens from Treasuries to the yen remained in demand as investors assessed the prospects for pro-growth policies in America. The S&P 500 Index struggled for direction in afternoon trading, with gains in technology shares offset by renewed selling in banks that bore the brunt of ...

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• 22 March

  Asia shares sink as investors fret over Trump reforms

    SEOUL / AP Shares fell in Asia on Wednesday after US stocks took their biggest loss in five months. The sell-off overnight on Wall Street was spurred by obstacles to a health care bill backed by President Donald Trump that also raised questions over prospects for his agenda of boosting growth by cutting taxes and regulations. Japan’s Nikkei 225 ...

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• 22 March

  New security measure could force travellers to reroute trips

  

    DALLAS / AP A new security measure banning many electronic devices on flights from 10 mostly Muslim countries is leading travellers to reconsider their plans to fly through some airports in the Middle East and Africa. Paula Berger, an energy-company manager, and a co-worker have tickets to fly from the US through Dubai to Hyderabad, India, where her company ...

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• 22 March

  Kraft Heinz expands sustainability push after UK’s unilever offer

  

    Bloomberg Kraft Heinz Co., rebuffed recently in its bid to buy Unilever, is investing $200 million in an expanded corporate social responsibility program that includes a pledge to fight malnutrition and decrease its environmental footprint. The Kraft Heinz announcement comes about a month after the company pulled a $143 billion bid to buy Unilever, saying it didn’t want to ...

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• 22 March

  Lazada brings Alibaba’s biggest bazaar to Singapore

    Bloomberg Alibaba’s bringing its teeming Taobao internet marketplace to Singapore. Alibaba Group Holding Ltd. and Lazada Group SA are teaming up to sell select Taobao products direct to shoppers in the affluent island-state, striking their first partnership since the Chinese company took control of Southeast Asia’s largest e-commerce operator a year ago. Lazada is launching a dedicated website that ...

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• 22 March

  Rehlat reveals top five travel hacks

  

    Emirates Business Rehlat, the hottest new online travel company in the region offers the best experience possible for its customers. A team of experts compiled quick and easy guidelines to help travellers have an easier journey, alongside the online travel agency’s most sought after deals. WARNING: FRAGILE! Did you know that if you put fragile tape on your luggage ...

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