G7 finance ministers called for full implementation of G20 debt freeze, says US Treasury

The US Treasury Department building is seen next to an almost empty 15th Street at noon in Washington March 13, 2020. — AFP pic WASHINGTON, July 13 — Group of Seven finance ministers today called for full implementation of a G20 freeze in debt service payments by all official bilateral creditors and adherence to debt data transparency standards, a US Treasury spokesperson said in a statement.In a teleconference...

‘Impossible’ to remove Huawei from UK within decade, says BT boss

BT said today that it would be “impossible” to remove controversial Chinese giant Huawei’s equipment from UK’s infrastructure in under 10 years. ― Reuters pic LONDON, July 13 — The head of British telecommunications giant BT said today that it would be “impossible” to remove controversial Chinese giant Huawei’s equipment from UK’s infrastructure in under 10 years.BT chief executive Philip Jansen, speaking to the BBC, also warned that...

Google to invest US$10b in India, says CEO

File picture shows Google’s Senior Vice President Sundar Pichai giving a keynote address during the opening day of the 2015 Mobile World Congress (MWC) in Barcelona March 2, 2015. — AFP pic NEW DELHI, July 13 — Google said today it will invest US$10 billion (RM42.6 billion) in India over the next five to seven years as it battles rivals like Facebook and Amazon in the vast market...

Poll: UK business struggling with Brexit preparedness

A worker arrives at his office in the Canary Wharf business district in London February 26, 2014. — Reuters pic LONDON, July 13 — Only a quarter of UK businesses are “fully ready” for the end of the Brexit transition period, with some blaming the coronavirus pandemic for delays in their preparations, a survey revealed today.“With so much going on, many directors feel that preparing for Brexit proper...

IMF predicts worst Mideast downturn in half century due to Covid-19, low oil prices

Medical volunteers wait outside a drive-through Covid-19 coronavirus testing centre in al-Khawaneej district of the gulf emirate of Dubai April 9, 2020. — AFP pic DUBAI, July 13 — The IMF today again sharply lowered its Middle East and North Africa Economic Outlook, to its lowest level in 50 years, over the “twin shock” of the coronavirus pandemic and low oil prices.The region’s economy will contract by 5.7...

Top Glove now third largest stock on Bursa Malaysia

Top Glove Corporation Bhd has emerged as the third biggest company on Bursa Malaysia as the glove maker’s market capitalisation increased to RM64.73 billion as of the close of trading today. — Picture courtesy of Top Glove Corporation KUALA LUMPUR, July 13 — Top Glove Corporation Bhd has emerged as the third biggest company on Bursa Malaysia, overtaking Tenaga Nasional Bhd (TNB), as the glove maker’s market capitalisation...

Analog Devices to acquire Maxim Integrated, form US$68b firm, says statement

The Maxim Integrated logo is seen in this illustration photo January 30, 2018. — Reuters pic NEW YORK, July 13 — American semiconductor firm Analog Devices has agreed to buy rival Maxim Integrated in an all-stock transaction valued at US$20.91 billion (RM89.1 billion), the companies announced today.The acquisition, one of the biggest deals of the year, would create an enterprise with a combined worth of US$68 billion and...

Global markets rise before US earnings season

Passersby walk past an electronic board showing Japan's Nikkei share average (top right) and Asian countries' stock indexes outside a brokerage in Tokyo December 19, 2014. — Reuters pic LONDON, July 13 — World stock markets advanced today, spurred higher by investor hopes over upcoming US earnings and a coronavirus vaccine, dealers said.Asian and European equities bounded higher as investors followed a strong performance on Wall Street, though...

UK set to ban Huawei from 5G, though timescale unclear

A 3-D printed Huawei logo is seen in front of displayed 5G words in this illustration taken February 12, 2019. — Reuters pic LONDON, July 13 — Prime Minister Boris Johnson is set ban Huawei from UK’s 5G network in a landmark decision that will anger Beijing but win plaudits from President Donald Trump as the US grapples with China’s rising economic and technological clout.The US...

Ringgit higher against US dollar at close

A foreign tourist inquires about exchange rates on the Malaysian ringgit at a foreign currency money-changer in Kuala Lumpur on August 24, 2015. — AFP pic KUALA LUMPUR, July 13 — The ringgit ended higher against the US dollar today as the greenback retreated on concerns of the surge in Covid-19 cases in the US.The return of risk-on appetite to emerging markets had also helped to lift the...

Russia to push back deadline for US$360b spending on national projects to 2030 over Covid-19

Mikhail Mishustin speaks during a session of the State Duma, the lower house of parliament, in Moscow January 16, 2020. — Reuters pic MOSCOW, July 13 — Russian President Vladimir Putin today supported a proposal to extend the deadline for a 25.7 trillion rouble (RM1.5 trillion) package of state spending, known as the national projects, by six years until 2030 due to the coronavirus pandemic.Prime Minister Mikhail Mishustin...

Bursa Malaysia ends at six-month high, Top Glove and Hartalega lead

Bursa Malaysia ended above 1,600 points today, a level last seen in January this year. — Bernama pic KUALA LUMPUR, July 13 — Bursa Malaysia ended above 1,600 points today, a level last seen in January this year, with the key index movers — Top Glove and Hartalega, both increased by more than three per cent.At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.59 points...
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