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Mah: We should ban butter from the EU

Mah: We should ban butter from the EU

TELUK INTAN: The EU should ban the production and exports of butter since this commodity’s carbon footprint is 10 times more polluting than that of palm oil, said a Malaysian cabinet minister. “If the EU wants to justify the palm oil ban on the basis of carbon footprint, it should ban butter which is 10 […]

January 28, 2018 | By | Reply More
Trade with countries boycotting Palm Oil to be reviewed

Trade with countries boycotting Palm Oil to be reviewed

BAGAN DATUK: Malaysia will review trade with European Union (EU) countries following the proposal by the economic and political bloc to ban palm oil biofuels by 2020, said Deputy Prime Minister, Datuk Seri Dr Ahmad Zahid Hamidi. He said if approved by the EU, the proposal would affect the incomes of some 500,000 smallholders across […]

January 28, 2018 | By | Reply More
Hacked Tokyo cryptocurrency exchange to repay customers US$425m

Hacked Tokyo cryptocurrency exchange to repay customers US$425m

TOKYO: Tokyo-based cryptocurrency exchange Coincheck Inc said on Sunday it would return about 46.3 billion yen (US$425 million) of the virtual money it lost to hackers two days ago in one of the biggest-ever thefts of digital money. That amounts to nearly 90 percent of the 58 billion yen worth of NEM coins the company […]

January 28, 2018 | By | Reply More
Ringgit likely to be firmer against USD next week

Ringgit likely to be firmer against USD next week

KUALA LUMPUR: The ringgit is likely to stay firm against the US dollar next week on the back of higher commodity prices, particularly the crude oil, coupled with positive regional sentiment. Affin Hwang Investment Bank Vice-President/Head of Retail Research, Datuk Dr Nazri Khan Adam Khan, said oil prices had been rising following news on the […]

January 27, 2018 | By | Reply More
India may review palm oil duties: PM Najib

India may review palm oil duties: PM Najib

NEW DELHI: India will consider reviewing its high import duty on Malaysian crude palm oil (CPO), Prime Minister Datuk Seri Najib Razak said. In November 2017, the Indian government doubled the import duty on Malaysian CPO to 30 per cent from 15 per cent previously, in order to support its local refiners. “The palm oil […]

January 26, 2018 | By | Reply More
Takaful Malaysia records RM205.1m net profit in FY17

Takaful Malaysia records RM205.1m net profit in FY17

KUALA LUMPUR: Syarikat Takaful Malaysia Bhd posted a record net profit for the financial year ended December 31 2017, with an 18 per cent increase in profit after tax and zakat (PATZ) to RM205.1 million from RM174.5 million in the previous financial year. During the year under review, the company’s operating revenue rose 8 per […]

January 26, 2018 | By | Reply More
Mydin attributes success to govt policy continuity, stability

Mydin attributes success to govt policy continuity, stability

PETRA JAYA: Continuity in the implementation of government policies has helped Mydin Mohamed Holdings Bhd (Mydin), a leading local hypermarket operator, prosper over the past six decades. Mydin managing director Datuk Ameer Ali Mydin said a stable government, which is responsive to the welfare of the people, is essential for any businesses to flourish. Ameer […]

January 26, 2018 | By | Reply More
Jan 26: Ringgit rises to 3.8690 against US dollar

Jan 26: Ringgit rises to 3.8690 against US dollar

KUALA LUMPUR: The ringgit extended it gains over the US dollar at the end of the trading week today, to a level last seen on April 20, 2016. At 6pm, the local note ended at 3.8690/8720 against the greenback, from 3.8840/8870 on Thursday. FXTM Research Analyst Lukman Otunuga said the week has been incredibly positive […]

January 26, 2018 | By | Reply More
KLCI surpass 1,850 at 32 mth high, after Bank Negara rate hike

KLCI surpass 1,850 at 32 mth high, after Bank Negara rate hike

KUALA LUMPUR: Positive sentiment towards the banking sector has pushed FTSE Bursa Malaysia KLCI higher to hit 32-month high after Bank Negara Malaysia increased the Overnight Policy Rate (OPR) on Thursday, analysts said. The surge which brought the key benchmark index to close at 1,853.92, up 8.06 points from Thursday’s close of 1,845.86, was also supported […]

January 26, 2018 | By | Reply More
FMM calls for minimum wage status quo

FMM calls for minimum wage status quo

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) appeals to the government to maintain the current minimum wage, following MTUC’s suggestion for a 50 per cent hike to RM1,500. “Any increase in the immediate term should be deferred,” it said, urging that the current minimum wages of RM1,000 for Peninsular Malaysia and RM920 for Sabah […]

January 26, 2018 | By | Reply More