MONEY

SoftBank’s Saudi ties unnerve investors as shares drop 8 percent

SoftBank Group Corp saw its shares drop on Monday as fallout from the disappearance of a Saudi journalist spread to the Japanese conglomerate, whose nearly $100 billion Vision Fund is almost half financed by Saudi Arabia.

REUTERS, Oct 17 2018

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Record number of older Australians seeking financial help: Debt hotlines

A record number of elderly Australians are living in poverty, debt assistance services have warned. The National Debt Helpline (NDH), the government’s financial counselling service,

XINHUA, Oct 17 2018

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Sweden’s Northvolt lands BMW deal in boost before fund raising

Sweden’s Northvolt has secured a partnership with German carmaker BMW and is seeking more funds from the European Investment Bank (EIB) to help its plans to build Europe’s largest battery factory.

REUTERS, Oct 17 2018

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Singapore, Germany sign MoU to boost startup collaboration

Enterprise Singapore, the Singapore Economic Development Board (EDB) and German Accelerator Southeast Asia (GASEA) signed a Memorandum of Understanding (MoU) on Tuesday to boost startup collaboration between Singapore and Germany.

XINHUA, Oct 17 2018

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Bankruptcy judge approves financing to keep Sears open

A bankruptcy judge on Monday approved $300 million in financing to keep department store chain Sears Holdings Corp open through the holiday season, giving the century-old retailer that once dominated US shopping malls a chance to remain in business.

Oct 17 2018

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IBM takes cybersecurity training on the road

Two years ago, IBM opened one of the nation’s first commercial cybersecurity ranges in Cambridge, Mass., to let companies practice responding to simulated cyberattacks. It describes the experience as “a game of Clue mixed with a Disney roller-coaster ride.”

STACY COWLEY, Oct 17 2018

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‘Potential of Nepali herbal products still untapped’

Nepali herbal products have immense potential to secure notable exports earnings but the lack of research, absence of proper processing and failing to label appropriate specifications have been impeding its business prospects, experts have said.

Post Report, Oct 17 2018

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Mongolia set to export live sheep and goats

Mongolia is planning to export live sheep and goats from the first quarter of next year, the government’s press office said on Tuesday.

XINHUA, Oct 17 2018

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Amazon to buy 8 percent stake in Future Retail

Amazon.com Inc is likely to buy an at least 7 percent to 8 percent stake in India’s Future Retail Ltd through an investment arm, CNBC-TV 18 reported, citing sources.

REUTERS, Oct 17 2018

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IMF to reopen office in Argentina

The International Monetary Fund said on Monday it has decided to reopen an office in Argentina, six years after leaving.

Oct 17 2018

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China’s cooling factory-gate inflation signals waning demand

China’s factory-gate inflation cooled for a third straight month in September amid ebbing domestic demand, pointing to more pressure on the world’s second biggest economy as it remains locked in an intensifying trade war with the United States.

REUTERS, Oct 17 2018

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Global steel body hikes demand forecasts

The World Steel Association on Tuesday doubled its 2018 and 2019 forecasts for growth in global demand for the material used in everything from cars to construction, but said that trade tensions were clouding the outlook for the sector.

REUTERS, Oct 17 2018

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American Airlines boosts profile in Cuba

American Airlines announced on Monday that it would offer more daily flights to Cuba, by 2019, despite US restrictions on Americans traveling to that country.

AGENCE FRANCE-PRESSE, Oct 17 2018

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ECB still set to turn off QE taps despite cocktail of risks: Poll

The European Central Bank will end its bond-buying programme in less than three months, with a low likelihood of an extension despite a cocktail of political and trade concerns, economists unanimously said in a Reuters poll.

REUTERS, Oct 17 2018

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Bridge lifts economy

The China-Maldives Friendship Bridge connecting Maldives’ capital Male with neighboring Hulhumale, which opened to traffic in August, has brought tangible benefits and improved lives of local people.

XINHUA, Oct 17 2018

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Investors react to Italy’s draft budget

Investors have reacted with calm to the new Italian budget draft that delivers on electoral promises to restore pensions to thousands whose retirement age had been pushed back and the creation of a basic salary for some job-seekers.

AFP, Oct 17 2018

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India’s Federal Bank net profit up 0.9 percent

India’s Federal Bank Ltd posted a 0.9 percent rise in second-quarter net profit on Tuesday, helped by higher interest income. Net profit was 2.66 billion rupees ($36.08 million) in the quarter ended Sept. 30, compared with 2.64 billion rupees a year earlier, the mid-sized private-sector lender said bit.

REUTERS, Oct 17 2018

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Volvo shares slump on truck emissions fault

Shares in Swedish auto giant Volvo slumped on Tuesday after the firm said it had discovered a fault in truck emission controls. Shares fell back more than six percent in early morning trading to 133.4 kronor on a Stockholm market which was up 0.3 percent overall.

AFP, Oct 17 2018

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China’s small firms get more loans on paper but not in reality

Beijing is keen to show results after four rounds of policy easing, so China’s big banks are playing along, highlighting their efforts to boost lending to cash-starved small firms, offering collateral waivers and setting loan targets.

REUTERS, Oct 17 2018

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US budget deficit hits 6-year peak

The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump’s tax cuts caused the government to borrow more heavily in order to cover its spending.

ASSOCIATED PRESS, Oct 17 2018

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China prices rise as cost of food spikes

A spike in the price of fruit and vegetables pushed up China’s inflation rate in September, official figures showed on Tuesday.

AGENCE FRANCE-PRESSE, Oct 17 2018

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Asian stocks struggle for clear direction

Asian shares struggled for clear direction Tuesday following another volatile session on Wall Street, as a perfect storm of risks hovering over the global economy curbed investors’ enthusiasm.

AGENCE FRANCE-PRESSE, Oct 17 2018

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Can India’s Infosys adjust to Trump’s ‘Hire American’?

When Infosys, a big Indian technology outsourcing company, opened a new office in Indianapolis this year, executives hailed it as a step along a new path.

Steve Lohr, Oct 17 2018

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As companies embrace AI, it’s a job-seeker’s market

Dozens of employers looking to hire the next generation of tech employees descended on the University of California, Berkeley in September to meet students at an electrical engineering and computer science career fair. 

REUTERS, Oct 17 2018

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Customs revenue jumps on soaring Dashain imports

The customs office in Rasuwa on the northern border with China collected revenue totalling more than Rs2.30 billion in one month as traders started importing clothes from the northern neighbour for the Dashain festival earlier than usual.

BALRAM GHIMIRE, Oct 17 2018

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Rs500 accommodation fee

The Trekking Agencies Association of Nepal (TAAN) said its serious attention had been drawn to the decision by the local government in the Everest region to charge an extra Rs500 as accommodation fee from foreign trekkers.

Post Report, Oct 17 2018

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Nepalis have to pay entry fee to conservation areas

Nepalis too will have to pay entry fees to visit the Annapurna Conservation Area Project, Manaslu Conservation Area Project and Gauri Shanker Conservation Area Project. The federal government on Monday published a directive in the Nepal Gazette fixing the new entry fees for Nepali and foreign tourists visiting the three conservation areas in the Himalaya.

DEEPAK PARIYAR, Oct 17 2018

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