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Ringgit opens lower against USD

Ringgit opens lower against USD

KUALA LUMPUR: The ringgit extended yesterday’s loss to open slightly lower today dampened by a stronger US dollar following growing expectations of US Federal Reserve increasing interest rate, dealers said. At 9.08 am, the local unit was traded at 4.4480/4530 versus the greenback from 4.4470/4510 on Thursday. Senior trader at OANDA, Stephen Innes, said investors […]

March 3, 2017 | By | Reply More
Short-term rates to remain stable on Bank Negara intervention

Short-term rates to remain stable on Bank Negara intervention

KUALA LUMPUR: Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) continuous intervention to absorb excess liquidity from the financial system. The central bank estimated today’s liquidity at RM34.24 billion in the conventional system and RM11.90 billion in Islamic funds. BNM will conduct three conventional money market tenders, each worth RM1 […]

March 3, 2017 | By | Reply More
Bursa Malaysia opens lower

Bursa Malaysia opens lower

KUALA LUMPUR: Bursa Malaysia opened lower today, retreating from yesterday’s gains taking the cue from the lower overnight Wall Street. At 9.08 am, the FBM KLCI stood at 1,715, fell 0.67 of-a-point, from Thursday’s close of 1,715.67. The index opened 1.14 points lower at 1,714.53. Market breadth was positive with gainers leading losers at 142 […]

March 3, 2017 | By | Reply More
Investors see Snap's IPO as 'too big to fail'

Investors see Snap's IPO as 'too big to fail'

NEW YORK: Institutional investors anxious not to be left out of this year’s marquee initial public offering helped Snap Inc pull off the biggest U.S.-listed technology share sale this week since Chinese e-commerce juggernaut Alibaba Group Holding Inc smashed records in 2014. Keen to boost returns and with a dearth of new stocks to buy, […]

March 2, 2017 | By | Reply More
SapuraKencana wins RM433.6mil in contracts

SapuraKencana wins RM433.6mil in contracts

KUALA LUMPUR: SapuraKencana Petroleum Bhd (SKPB) subsidiaries have been awarded contracts with a combined value of approximately US$97.4 million (RM433.6 million), the company announced yesterday. First, SapuraKencana TL Offshore Sdn Bhd (SKTLO) was awarded an umbrella contract by Petronas for the provision of Pan Malaysia Transportation and Installation of Offshore Facilities. The work consists of […]

March 2, 2017 | By | Reply More
TNB signs two solar power deals

TNB signs two solar power deals

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has entered into large-scale solar (LSS) photovoltaic power purchase agreements (PPAs) with two special-purpose companies (SPCs). The two SPCs are UITM Solar Power Sdn Bhd and TNB Sepang Solar Sdn Bhd. The SPCs were set up by several companies, which won the Energy Commission’s competitive bidding exercise last year, […]

March 2, 2017 | By | Reply More
Investments in Malaysia remain healthy in 2016: Mustapa

Investments in Malaysia remain healthy in 2016: Mustapa

KUALA LUMPUR: Malaysia held up the investment growth momentum last year against a global backdrop fraught with risks and uncertainties. For 2016, Malaysia attracted RM207.9 billion in total approved investments and this will fund 4,972 projects in the manufacturing, services and primary sectors, announced International Trade and Industry Minister Datuk Seri Mustapa Mohamed. This will […]

March 2, 2017 | By | Reply More
Consistency needed in 'Buy Malaysia First' directive, FMM tells govt

Consistency needed in 'Buy Malaysia First' directive, FMM tells govt

KUALA LUMPUR: Manufacturers have urged the government to be more consistent in its ‘Buy Malaysian First’ directive in order to boost domestic demand and curb unnecessary imports. “By consuming more good quality Made-in-Malaysia products in mega-projects, the private sector and the government can bring about multiplier benefits to the economy,” said Federation of Malaysian Manufacturers […]

March 2, 2017 | By | Reply More
OPR maintained at 3 per cent, says Bank Negara

OPR maintained at 3 per cent, says Bank Negara

KUALA LUMPUR: Bank Negara Malaysia left the Overnight Policy Rate unchanged at 3.00 per cent. The monetary policy committee, which met for the second time this year, warned of risks to global growth even though there is recovery in economic activities. These include threats such as protectionism, geopolitical developments, heightened volatility of financial markets and […]

March 2, 2017 | By | Reply More
This year's Toyota Eco Youth focuses on carbon footprint reduction

This year's Toyota Eco Youth focuses on carbon footprint reduction

SHAH ALAM: UMW Toyota Motor Sdn Bhd (UMWT) has launched the 2017 Toyota Eco Youth (TEY) programme, marking another year of environmental activities with the overriding theme to reduce carbon footprint by students from selected schools in Malaysia. Since TEY’s inception in 2001, UMWT had spent more than RM6 million for the programme which enabled […]

March 2, 2017 | By | Reply More