Author Archive: Free Malaysia Today

rss feed

Author's Website

Indonesia’s Pertamina to take stake in French oil company

Indonesia’s Pertamina to take stake in French oil company

If the deal is cleared by regulators and Maurel & Prom’s directors approve, “Pertamina commits itself to launch a voluntary tender offer” under the same conditions. PARIS: Indonesia’s state oil company Pertamina will become the top shareholder in Maurel & Prom and intends to make a public offer for the French oil operator that pumps […]

August 1, 2016 | By | Reply More
GSK forms bioelectronics venture with Alphabet

GSK forms bioelectronics venture with Alphabet

“GSK has been active in this field since 2012 and believes certain chronic conditions such as arthritis, diabetes and asthma could potentially be treated using these devices.” LONDON: British drugs giant GlaxoSmithKline announced Monday that it will form a joint venture with Google’s parent company Alphabet to research and develop so-called bioelectronic medicines. GSK has […]

August 1, 2016 | By | Reply More
Heineken fizz falls flat as half-year profits drop

Heineken fizz falls flat as half-year profits drop

THE HAGUE: Dutch brewing giant Heineken had little to cheer Monday as it unveiled a 48.8 drop in half year net profits, warning of “a challenging economic backdrop”. Year-on-year net profits in the first half of 2016 fell to 586 million euros ($654 million) from 1.14 billion euros the previous year, Heineken said in a […]

August 1, 2016 | By | Reply More
Singapore launches unit to fight money laundering

Singapore launches unit to fight money laundering

Officials of the Monetary Authority of Singapore (MAS) have said plans to create the special unit predated a continuing scandal involving state fund 1MDB in neighbouring Malaysia and banks operating in Singapore. SINGAPORE: Singapore’s central bank on Monday formally launched a unit to fight money laundering, strengthening the financial hub’s safeguards against illicit fund flows. […]

August 1, 2016 | By | Reply More
Didi to merge with Uber China operations in USD35b deal

Didi to merge with Uber China operations in USD35b deal

BEIJING: China’s dominant ride-hailing firm Didi Chuxing will merge with Uber’s business in China in a $35 billion deal that will end bruising competition between the two firms, according to a source familiar with the matter. The deal between the pair – which have been spending heavily to gain market share and battling fiercely for […]

August 1, 2016 | By | Reply More
Crescent Wealth launches Islamic fund in Malaysia

Crescent Wealth launches Islamic fund in Malaysia

The fund would provide Malaysian investors with exposure to Australia’s property market, feeding into a commercial property fund launched by Crescent in 2013. SYDNEY: Australian fund manager Crescent Wealth said on Monday it had launched an Islamic property fund in Malaysia alongside KAF Investment Funds Berhad, aiming to tap one of the largest markets for […]

August 1, 2016 | By | Reply More
Value of Malaysian economy is RM1.16 trillion

Value of Malaysian economy is RM1.16 trillion

Department of Statistics says the overall economy recorded a growth of 4.6 per cent last year. KUALA LUMPUR: Malaysia’s economy registered a value of RM1.16 trillion last year. This is an increase over the RM1.11 trillion recorded in 2014, according to the Department of Statistics. In a statement last Friday, the department said gross operating […]

August 1, 2016 | By | Reply More
Dollar struggles, most stocks up in Asia after US data

Dollar struggles, most stocks up in Asia after US data

HONG KONG: Fading expectations for a US interest rate rise this year hit the dollar and boosted stocks in Asia on Monday, although Shanghai equities took a hammering from weak manufacturing data. Friday’s report showing the world’s number one economy expanded just 1.2 percent in April-June poured water on speculation the Federal Reserve will lift […]

August 1, 2016 | By | Reply More
Oil dips as global supplies rise, fresh concerns over Asian economies

Oil dips as global supplies rise, fresh concerns over Asian economies

SINGAPORE: Oil prices started August trading with fresh falls on Monday after several bearish reports, including rising output from OPEC, a rise in US drilling and weak economic data from Asia. Brent crude futures were trading at $43.46 per barrel at 0126 GMT (9:26 p.m. ET on Sunday), down 7 cents from their last close […]

August 1, 2016 | By | Reply More
Uber to invest USD500m in global mapping project

Uber to invest USD500m in global mapping project

SAN FRANCISCO: Ride-hailing service Uber has decided to invest $500 million into an ambitious global mapping project to wean itself off dependence on Google Maps and pave the way for driverless cars, the Financial Times reported on Sunday. The San Francisco-based company is ramping up spending in new technologies such as mapping and driverless cars […]

July 31, 2016 | By | Reply More