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Updated: 22 hours 18 min ago

Global Markets: Stocks nurse New Year hangover as China data disappoint

Wed, 01/02/2019 - 07:10
Asian shares turned tail on the first trading day of the new year as more disappointing economic data from China darkened the mood and upended U.S. stock futures.

Palm hits near two-week high as India cuts import tax

Wed, 01/02/2019 - 07:09
Malaysian palm oil futures rose to their highest in nearly two weeks at the midday break of the first trading day of 2019, after world's largest edible oil importer India announced import tax cuts, amid expectations of a fall in production.

Indian manufacturing growth slows in December despite price cuts: PMI

Wed, 01/02/2019 - 07:07
Indian manufacturing activity expanded at a slower pace in December as growth in new orders and output waned, despite factories cutting their prices, a private survey showed on Wednesday.

Oil opens 2019 with losses on surging supply, signs of economic slowdown

Wed, 01/02/2019 - 06:32
Oil markets dropped by around 1 percent in 2019's first trading on Wednesday, pulled down by surging U.S. output and concerns about an economic slowdown in 2019 as factory activity in China, the world's biggest oil importer, contracted.

South Korean 'forced labour' plaintiffs seek Nippon Steel asset seizure - newspaper

Wed, 01/02/2019 - 06:02
South Korean plaintiffs in a World War Two forced labour court case against Japan's Nippon Steel & Sumitomo Metal Corp have applied to seize some of Nippon Steel's Korean assets, a South Korean newspaper reported on Wednesday.

China December factory activity shrinks for first time in 19 months: Caixin PMI

Wed, 01/02/2019 - 05:57
China's factory activity contracted for the first time in 19 months in December as domestic and export orders continued to weaken, a private survey showed, pointing to a rocky start for the world's second-largest economy in 2019.

China's Didi launches credit, crowdfunding services in diversification push

Wed, 01/02/2019 - 05:49
China's Didi Chuxing has launched a suite of financial products, including crowdfunding and lending, as it continues to diversify outside the ride-hailing business following a year of safety scandals.

Palm opens higher on India import tax cut, but gains seen limited

Wed, 01/02/2019 - 05:47
Malaysian benchmark crude palm oil futures opened firmer on the first day of trading for 2019 on Wednesday, supported by a cut in Indian import taxes, but traders expected gains to be short-lived due to high inventory levels.

Singapore fourth quarter GDP growth cools as trade woes darken outlook

Wed, 01/02/2019 - 05:15
Singapore's economy grew more slowly than forecast in the fourth quarter after the manufacturing sector shrank, adding to jitters that a trade dispute between the United States and China will drag on growth in 2019.

Jet Airways defaults on debt payment to banks

Wed, 01/02/2019 - 05:01
Debt-laden Jet Airways Ltd has delayed the payment to a consortium of Indian banks, led by State Bank of India Ltd, the airline said late Tuesday.

Dubai 2019 budget halts spending growth as revenue rise slows

Tue, 01/01/2019 - 18:28
Dubai expects to almost halt the growth of state spending this year as revenues expand more slowly because of the emirate's efforts to stimulate business investment, according to the 2019 state budget released on Tuesday.

Deutsche Telekom sues Germany's Federal Network Agency over 5G: Paper

Tue, 01/01/2019 - 18:26
Deutsche Telekom has filed a lawsuit against Germany's Federal Network Agency protesting the preconditions for participating in a next-generation mobile network frequency auction, Germany's Die Welt newspaper said on Tuesday.

RBI to allow banks to restructure some defaulting small business loans

Tue, 01/01/2019 - 18:05
The Reserve Bank of India (RBI) said it will allow banks to restructure loans to small and medium sized-companies that are in default but standard as of the beginning of the year. The dispensation is “one time”, the RBI said in a circular on Tuesday. 

UAE Energy Minister remains optimistic about energy market balance

Tue, 01/01/2019 - 14:17
United Arab Emirates Energy Minister Suhail al-Mazrouei said on Tuesday he remains optimistic about achieving a market balance during the first quarter of 2019.

RBI governor wanted to step down months before resignation: Modi

Tue, 01/01/2019 - 14:11
Former Reserve Bank of India (RBI) governor Urjit Patel had personally written to Prime Minister Narendra Modi about wanting to resign, citing personal reasons, several months before stepping down from the office in December, Modi said in an interview with Reuters partner ANI.

India cuts tax on crude, refined palm oil imports from ASEAN countries

Tue, 01/01/2019 - 07:46
India slashed import tax on crude and refined palm oil sourced from Southeast Asian (ASEAN) countries after request from suppliers, a government notification said late on Monday.

Nifty, Sensex mark cautious start to 2019

Tue, 01/01/2019 - 07:45
Indian shares began the year on a negative note on Tuesday as investors stayed away from making bets, with the corporate earnings season slated to begin next week.