Finance and Economy
Apple – America’s first trillion-dollar company – is now worth only US$720 billion. The technology giant recently revised its first quarter sales forecast downward, blaming the global economic slowdown, Trump’s trade war and a slowdown in the Chinese market. CEO Tim Cook should blame the company itself instead for greedily raising the iPhone prices. […]
... written on Jan 13 2019Three Chinese warships arrived in Cambodia on Wednesday on a visit aimed at strengthening already close ties between the two nations. As early as 2016, Cambodia hosted its first major naval joint exercises with Chinese forces. This round, as many as 700 crew members docked at the port of Sihanoukville, also known as “Kampong Som”. […]
... written on Jan 10 2019For years, former Prime Minister Najib Razak had been lying through his teeth about 1MDB financial health. As early as 2015, the crook claimed the sovereign wealth fund 1Malaysia Development Berhad (1MDB) had more assets than liabilities. Amazingly, gullible and ignorant village folks actually believed his simplistic cock and bull story. Like a broken […]
... written on Jan 09 2019Finally, the much overdue price reduction of fuel is here. While Americans enjoyed gasoline as low as US$1.49 a gallon or RM1.63 a litre, Malaysians had to pay RM2.20 a litre for RON95. Effective 12.01am Saturday (Jan 5), RON95 and RON97 will see a reduction of 27 sen from RM2.20 per litre to RM1.93 per […]
... written on Jan 05 2019As feared, tech giant Apple plunged and brought along with it the rest of the stock markets not only in the U.S., but also the world. The earning warning from the iPhone maker was sufficient to erase 660 points off the Dow Jones Industrial Average (DJIA). S&P 500 lost 62 points and NASDAQ tumbled 202 […]
... written on Jan 04 2019Dell CEO Michael Dell warned in July last year that the U.S. and China face a “mutual assured destruction” if trade relations collapse, adding that “no one will win” a trade war. But judging by Donald Trump and Xi Jinping’s latest antics, losing face is not an option. In denial, the U.S. president even said […]
... written on Jan 03 2019A couple of moons ago, 93-year-old Mahathir Mohamad proudly declared that corruption in Malaysia has become a thing of the past following the change in government. The world’s oldest prime minister won the country’s general election in May on promises of fighting corruption and reforming institutions, blaming the previous Najib Razak regime for plunging the country into […]
... written on Dec 31 2018In what appears to be the next level of retaliation against the Government of Canada over the arrest of Huawei’s CFO (chief financial officer), Sabrina Meng Wanzhou, the Chinese may have already decided what to do with Robert Lloyd Schellenberg, a Canadian citizen on charges of drug smuggling. Although information is sketchy, it’s highly possible […]
... written on Dec 27 2018Crude oil has a new buddy – the S&P 500. Less than 2 months after the oil entered the bear market territory on Nov 8, the S&P 500 – the American stock market index based on the market capitalizations of 500 large companies – joins the club on Christmas Eve. On Monday, just before the […]
... written on Dec 26 2018President Donald Trump couldn’t hide his frustration anymore. The stock market sell-off will wipe out his only achievement as his government is officially shut down over funding. The U.S. shutdown could stretch into January, 2019. But the president’s biggest worry is the stock market meltdown, which could spell an economy slowdown and subsequently a recession. […]
... written on Dec 24 2018
