16 August

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Malaysia’s Muhyiddin quits as PM, agrees to caretaker role By Reuters

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(Reuters) -Malaysian Prime Minister Muhyiddin Yassin resigned https://www.reuters.com/world/asia-pacific/malaysian-pm-expected-resign-after-months-political-turmoil-2021-08-16 on Monday citing a lack of parliamentary support, but agreed with the king to remain caretaker premier until a government can be formed. Following is reaction from political and market analysts: NIK AHMAD KAMAL NIK MAHMOD, LAW EXPERT, INTERNATIONAL ISLAMIC UNIVERSITY OF MALAYSIA "The king will have to wait until he can find a replacement, someone who can command the majority in parliament. It might take a few days or weeks. "If it will take more than a month then it will raise a lot of issues,...

16 August

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The rise and fall of Malaysia’s Muhyiddin Yassin By Reuters

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KUALA LUMPUR (Reuters) - Malaysian Prime Minister Muhyiddin Yassin resigned on Monday, ending a torrid 17 months in office as he battled political infighting and questions over his legitimacy, while his government faced a raging pandemic and an economic downturn. Muhyiddin's grip on power had been precarious since coming to power in March 2020, but he lost his thin majority this month after lawmakers from a key ally withdrew support. Here is a timeline of the rise and fall of Malaysia's eighth prime minister. FEB 24, 2020 Prime Minister Mahathir Mohamad resigns as infighting...

16 August

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China’s Didi improves pay transparency for drivers By Reuters

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By Yilei Sun and Brenda Goh BEIJING (Reuters) - China's Didi Global Inc said on Monday it will provide its drivers in several Chinese cities with more details on the fees they receive, the first big move by the ride-hailing giant after state media accused it of paying drivers unfairly. Didi said drivers in seven Chinese cities including Shenyang and Changchun will be the first to know details of how much they get and how much passengers pay for each ride through a new function it added to its app for drivers on Monday, it said...

16 August

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Analysis-Valuing China assets no easy task after $1 trillion wipeout By Reuters

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By Tom Arnold and Marc Jones LONDON (Reuters) - Any veteran investor will tell you that financial markets overshoot when trouble hits, but what if that market is the world's second-largest economy and the government has decided the rules of the game have changed? China's months-long regulatory crackdown https://www.reuters.com/world/china/education-bitcoin-chinas-season-regulatory-crackdown-2021-07-27 has included big names in e-commerce, the gig economy, exam cramming and most recently online insurance. Close to $1 trillion in market value has been wiped off China Inc since February. For big firms that also list on markets like Wall Street because it brings in...

16 August

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Meggitt publishes Parker-Hannifin takeover documents By Reuters

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LONDON (Reuters) - Britain's Meggitt (LON:MGGT) said that it published the scheme document for its recommended takeover by Parker-Hannifin, as the process for that offer continues despite the possibility of a higher bid coming in from U.S. rival TransDigm. Megggitt, which makes components for aircraft, said on Monday that Britain's Takeover Panel is due to announce a deadline by which TransDigm must clarify its intentions. A meeting to vote on the offer from Parker-Hannifin is set for Sept. 21. ...

16 August

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HSBC snaps up Axa’s Singapore insurance assets for $575 million in Asia expansion By Reuters

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By Anshuman Daga and Alun John SINGAPORE/HONG KONG (Reuters) -HSBC Holdings agreed to acquire French insurer Axa's Singapore assets for $575 million, part of its strategy of scaling up its wealth-management business in Asia and boosting fee income. HSBC said in a statement that the combined unit comprising HSBC Life Singapore and Axa Singapore would be the seventh-largest life insurer and the fourth-largest retail health insurer in Singapore, with over 600,000 policies in-force covering life, health and property and casualty insurance. HSBC is 10th in life insurance in Singapore, and does not have a health insurance...

16 August

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UK’s Future Plc to buy ‘The Week’ publisher for $415 million By Reuters

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(Reuters) -Future Plc is set to buy the owner of "The Week" and "Moneyweek" for 300 million pounds ($415.4 million), giving the British media company a new source of subscription revenue and a stronger foothold in the United States. Future said on Monday it would buy Dennis Publishing Ltd from Exponent Private Equity LLP in a deal that also includes the publications Kiplinger, Science & Nature, IT Pro, Computer Active, PC Pro, Minecraft World and Coach. The deal, however, does not include Dennis-owned publications Viz, Fortean Times, Cyclist and Expert Reviews. More than half of...

16 August

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Dollar languishes near one-week low after consumer sentiment blow By Reuters

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By Kevin Buckland TOKYO (Reuters) - The dollar held near a one-week low versus major peers on Monday, after slumping the most in almost seven weeks on Friday as diving U.S. consumer confidence hurt bets for an early tightening of Federal Reserve policy. The dollar index, which measures the greenback against six rivals, was little changed at 92.528, maintaining a 0.50% tumble from the end of last week. It dipped as far as 109.455 yen for the first time since Aug. 5 on Monday, before trading 0.13% weaker at 109.465. Against the euro, it was mostly...

16 August

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Japan’s economy rebounds in Q2, COVID clouds outlook By Reuters

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By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic's initial hit. But many analysts expect growth to remain modest in the current quarter as state of emergency curbs reimposed to combat a spike in infections weigh on household spending. The world's third-largest economy grew an annualised 1.3% in April-June after a revised 3.7% slump in the first quarter, preliminary gross domestic product...

16 August

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China cbank offers more medium-term loan than expected to cushion economic slowdown By Reuters

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SHANGHAI (Reuters) - China's central bank injected billions of yuan through medium-term loans into the financial system on Monday, which many market participants interpreted as an effort to prop up the economy, although the cost of such borrowing was left unchanged. Widening outbreaks of the Delta variant across the country, torrential rains and flooding, and slowing economic growth momentum suggested by recent data all required more easing measures to cushion the slowdown, analysts say. The People's Bank of China (PBOC) kept the rate on a one-year medium-term lending facility (MLF) loan worth 600 billion yuan ($92.64...

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Malaysia’s Muhyiddin quits as PM, agrees to caretaker role By Reuters

The rise and fall of Malaysia’s Muhyiddin Yassin By Reuters

China’s Didi improves pay transparency for drivers By Reuters

Analysis-Valuing China assets no easy task after $1 trillion wipeout By Reuters

Meggitt publishes Parker-Hannifin takeover documents By Reuters

HSBC snaps up Axa’s Singapore insurance assets for $575 million in Asia expansion By Reuters

UK’s Future Plc to buy ‘The Week’ publisher for $415 million By Reuters

Dollar languishes near one-week low after consumer sentiment blow By Reuters

Japan’s economy rebounds in Q2, COVID clouds outlook By Reuters

China cbank offers more medium-term loan than expected to cushion economic slowdown By Reuters

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