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Monthly Archives: March 2021

Oil falls 2% as fresh lockdowns, demand concerns weigh on OPEC+

NEW YORK (April 1): Oil prices fell about 2% on Wednesday as fresh lockdowns in Europe stoked fuel consumption fears and a pessimistic demand outlook from OPEC and its allies ahead of their meeting to decide on production curbs. Brent crude for May, which expired on Wednesday, settled at $63.54 a barrel, down 60 cents, […]

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Asian shares set to edge up, after Wall Street tech rally

NEW YORK (April 1): Asian stocks were set to edge higher early on Thursday after big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan. The dollar, meanwhile, hit a one-year high against the yen and multi-month peaks with other currencies as investors bet U.S. fiscal stimulus and […]

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Biden Tax Plan Charts New Path to Economic Growth

President Biden’s ambitious plan to increase corporate taxes does more than just reverse much of the overhaul pushed through by his predecessor. It also offers a profoundly different vision of how to make the United States more competitive and how to foot the bill. When President Donald J. Trump and a Republican Congress rewrote the […]

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Exxon Mobil signals better first-quarter earnings as oil prices climb

NEW YORK: Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least US$2 billion improvement from prices for oil and gas driving profits, the company signalled in a securities filing on Wednesday (Mar 31). The largest US oil producer last year posted four consecutive quarterly losses as falling oil prices […]

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Tech stocks surge ahead of Biden’s stimulus speech

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THE S&P 500 and Nasdaq rose on Wednesday, boosted by gains in technology shares, and the three major Wall Street indexes registered their fourth straight quarterly rise as investors positioned themselves for President Joe Biden’s massive infrastructure plan. Bets on a strong economic rebound supported Wall Street during the quarter even as jitters cropped up […]

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Shootout at Indonesia’s national police HQ

JAKARTA: Indonesian authorities shot a person who entered the national police headquarters in Jakarta Wednesday, local media said, describing it as an “alleged terror attack”. Major TV broadcasters aired images that showed what appeared to be a person wearing a veil and long black clothes entering the complex as gunshots rang out. The lone figure […]

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Datuk Seri allegedly paid ‘top money’ to avoid authorities’ radar

JOHOR BARU: The investigation that eventually led to the unravelling of alleged Macau scam ringleader Datuk Seri Nicky Liow Soon Hee, who is now on the wanted list, started with a probe into a handphone deal. Johor police investigations into the syndicate started earlier this year following a report lodged in Pontian about the bogus […]

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Bursa Malaysia ends sharply lower, KLCI down 2.22pc | Money

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Bursa Malaysia ended sharply lower today with the key index declining 2.22 per cent, weighed mainly by glove stocks as well as weak sentiment in the local market, but managed to recoup a bit of the losses to close off its intraday low. — Picture by Hari Anggara Subscribe to our Telegram channel for the […]

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Market oversold, technical rebound expected

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PETALING JAYA: The local benchmark index has plunged to below 1,600 points, dragged down by glove stocks, in what observers called an oversold market. The weakness in the local market was in line with its regional peers which also saw declines, largely due to the surge in US government bond yields and a strengthening US […]

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Bullish on bank and industrial stocks, soft on tech

Don’t count on tech stocks outperforming as the second quarter kicks off, CNBC’s Jim Cramer cautioned on Wednesday. “If you’re hoping that happy days are here again for tech, I’ve got some lukewarm news,” he said on “Mad Money.” “As the second quarter gets rolling, I think this market will become even kinder to the […]

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