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Gold prices fell B100 to B19,400


Gold prices dropped 100 baht to 19,400.00 baht per baht-weight in Bangkok on Thursday. The Gold Traders Association announced the buying price at 19,300.00 baht and the selling price at 19,400.00 baht per baht-weight for bullion. For ornaments, the buying and selling prices were 18,950.00 baht and 19,900.00 baht per baht-weight respectively. On Wednesday the buying and selling prices closed ... Read More »

Could February change South Africa’s financial outlook for 2019


2018 was a tumultuous year laden with events that shook the market in so much that it yielded negative double-digit returns. Over the last 58 years, this has only happened on the JSE All Share Index during seven calendar years, including 1969/70 and 1975/76 where this occurred in consecutive years. \This begs the question: will history repeat itself? Should we ... Read More »

EU investigates Nike’s tax status in the Netherlands


The European commission has opened an investigation into the tax treatment of Nike in the Netherlands, saying it may have given the US sportswear maker an illegal advantage. The commission said in a statement that Dutch authorities had issued five tax rulings from 2006 to 2015, two of which were still in force, endorsing a method to calculate the royalty ... Read More »

Ronaldo pleads guilty to tax fraud


The Juventus forward, who was facing charges stemming from his days at Real Madrid, was in court for about 45 minutes and signed an agreement which will cost him nearly 19 million euro in fines. Ronaldo arrived at court in a black van and was wearing a black sports coat and black trousers. He walked up some stairs leading to ... Read More »

€20 million for Finnish health innovation company


Finnish health innovation company Nightingale Health has secured a €20 million loan from the European Investment Bank EIB to boost research and development of the Helsinki-based firm’s bloody analysis technology which makes it easier to predict and prevent chronic diseases like diabetes and heart diseases. . “Nightingale wants to create a world where healthcare keeps people healthy throughout their lifetimes, ... Read More »

China says it is not a threat to Norway, denies cyber espionage


A Norwegian intelligence assessment that China posed a threat to the Nordic country’s security by seeking to steal its secrets was “ridiculous”, the Chinese Embassy said on Monday as Norway mulled the future status of China’s Huawei Technologies. While Russian security services posed the biggest threat, China also conducted intelligence operations against Norwegian interests and businesses, including trying to penetrate ... Read More »

Fast Asia Open: Indonesia GDP, SoftBank


Snap, the parent of disappearing message app Snapchat, stemmed recent declines in users and beat revenue expectations in its fourth-quarter results, despite investor concern over growing competition from Instagram and recent management upheaval. The Los Angeles-based company posted a 36 per cent rise in revenues in the fourth quarter of 2018 to $390m, beating analyst estimates of about $379m. Net losses ... Read More »

EU anti-fraud group heads for Estonia, Denmark to learn Danske Bank lessons


COPENHAGEN: In the wake of Danske Bank’s money laundering scandal, an EU committee will visit Estonia and Denmark this week to meet regulators, prosecutors and the bank’s new management to discuss ways to crack down harder on fraud. Between 2007 and 2015, 200 billion euros (175 billion pounds) of suspicious payments from Russia and other states flowed through the Estonian ... Read More »

November trade surplus revised down to EUR 478 mln


In a first reading published January 9, the KSH had put the November surplus at EUR 496 mln. Imports rose 7.3% year-on-year in value terms to EUR 8.996 bln in November, while exports were up 4.5% at EUR 9.474 bln. The trade surplus was down EUR 204 mln from the same month a year earlier. The import volume of machinery ... Read More »

Blue Star posts Q3 net loss of Rs 94 crore, to exit JV in Oman


Air conditioning and commercial refrigeration firm Blue Star posted a loss of Rs 94 crore in the December quarter compared to a profit of Rs 13.36 crore in the year-ago period. The company reasoned that this was due to a one-time expense of Rs 7.17 crore on its platinum jubilee celebrations and provision of Rs 14.46 crore towards exposure in ... Read More »

Nepal-India trade treaty review meet tomorrow


A Nepal-India Trade Treaty review meeting between the commerce joint secretaries of the two countries is set to kick off in Pokhara from Thursday. The Ministry of Industry, Commerce and Supplies (MoICS) has already prepared the draft of agendas to be presented at the meeting. The finalised agendas were briefed to Prime Minister KP Sharma Oli today. At the two-day ... Read More »

Eni eyes New Opportunities in Iraq


Oil Minister Thamir A. Al-Ghadhban met Eni’s CEO Claudio Descalzi in Baghdad. Eni’s CEO outlined the Company’s current activities in the country in light of the recent achievements of the Zubair field development. Mr. Al-Ghadhban and Mr. Descalzi also discussed future opportunities and development investments that will further strengthen Eni’s relationship with the country. At Zubair oil production has grown ... Read More »

Taliban to take part in ‘intra-Afghan’ talks in Moscow


The Taliban say they will participate in what they call “intra-Afghan” talks in Moscow among prominent Afghan figures, including former President Hamid Karzai and tribal elders — but no Kabul government officials. The office of Afghan President Ashraf Ghani has criticized the meeting in the Russian capital, expected on Tuesday, as a gathering of the power-hungry. Zalmay Khalilzad, the US ... Read More »

Bank of Taiwan opens branch office in Manila, Philippines


TAIPEI: The Bank of Taiwan is continuing its expansion into Southeast Asian markets in accordance with the government’s Southbound Policy, in an effort to increase financial links and capital flow between Taiwan and the region. the Bank of Taiwan held an opening ceremony for a new representative office in Manila, Philippines. The offshore banking office is expected to become a ... Read More »

Tuesday Feb 04 — Monday Feb 11, 2019

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Top German conservative hints at slower coal phase-out in nod to party right

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BERLIN: Germany’s phasing out of coal-fired power stations could be delayed beyond 2038 if the deadline creates problems for the security of electricity supply, a senior legislator in Chancellor Angela Merkel’s party said. The phase-out, proposed last Saturday by a commission tasked with mapping out Germany’s transition to a more environmentally friendly low-carbon economy, drew criticism from some in industry ... Read More »

Belgium agrees to take in former Ivory Coast president


Belgium has agreed to take in the former Ivory Coast president Laurent Gbagbo following his acquittal at the international criminal court in The Hague, a foreign ministry spokesman has said. Karl Lagatie confirmed the agreement on Saturday, and added that he did not know if the ex-president was already in Belgium. “That is also part of the framework of our ... Read More »

Wairarapa vineyard sold to Japan brewing company for $9m


Long-established Japanese brewer, Nishi Sake, has won Overseas Investment Office approval to buy Wairarapa vineyard, Urlar Farms, for $8.75 million. According to its application, Nishi Sake is a family company which has specialised in distilled beverage production for eight generations. Nishi Sake had recently expanded its product offering to include sake, bottled water and other Japanese soda drinks and now ... Read More »

General Motors says in talks to invest $2.73 billion in Brazil till 2024


General Motors Co said it is negotiating “feasibility conditions” to invest 10 billion reais ($2.73 billion) in Brazil from 2020 to 2024, after having warned last month that new investments would depend on returning to profit. The automaker also said it is completing an investment plan of 13 billion reais between 2014 and 2019. “As market leaders, we are taking ... Read More »

Japan insurers to target China M&A in new phase after £38.26 billion overseas push


HONG KONG/TOKYO: Japanese insurance companies have spent more than $50 billion (38.26 billion pounds) on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down any time soon. The cashed-up insurers are expected to step up their hunt in new markets, with Asia, mainly China, at the ... Read More »