Straits Inter Logistics to acquire 38% stake in HK bunker oil trader
KUALA LUMPUR: Straits Inter Logistics Bhd has entered a heads of agreement to acquire 1.44 million shares or 38% equity interest in Banle International Ltd from CBL (Asia) Ltd in a RM14.99mil share deal.
KUALA LUMPUR (Nov 13): The ringgit continued its downtrend against the US dollar in the early session today as expectations of an interest rate hike by the US Federal Reserve (Fed) next month hampered demand for the local note.
At 9.17 am, the ringgit stood at 4.1940/1970 versus the greenback from 4.1860/1900 at the close yesterday.
A dealer said the greenback rose to its 16-month high yesterday as market players strongly believed that the Fed would increase interest rates next month, which renewed the ringgit's weakness.
Flipkart, the largest online store in India, just saw its company group CEO and co-founder Binny Bansal resign over allegations of misconduct. The news follows an independent investigation into Bansal’s actions at the Walmart-owned firm, and his denial of the allegations. Details of the incident are scant; Walmart noted in a press release: While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign. "The allegations left… This story continues at The Next Web