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Ringgit continues decline against US dollar

Ringgit continues decline against US dollar

KUALA LUMPUR– The ringgit continued its decline in early trade today, testing the 4.38 level per US dollar for the first time since the Asian financial crisis 17 years ago. At 9.30am, the ringgit was quoted 0.62 per cent lower at 4.3720/3810 against the greenback from 4.3450/3480 at 5pm on Wednesday. The market was closed […]

September 25, 2015 | By | Reply More
Japan PM unveils 600 trln yen GDP goal, short on details

Japan PM unveils 600 trln yen GDP goal, short on details

TOKYO: Japanese Prime Minister Shinzo Abe vowed on Thursday to raise gross domestic product by nearly a quarter to 600 trillion Japanese yen (US$5 trillion), pledging to refocus on the economy after the passage of controversial security bills that eroded his popularity. Abe unveiled the plan at a news conference marking his election to a […]

September 24, 2015 | By | Reply More
Most Asia markets bounce, Tokyo sinks on return

Most Asia markets bounce, Tokyo sinks on return

HONG KONG: Asian markets mostly recovered Thursday from the previous day’s sharp losses but Tokyo tumbled as investors returned from a long weekend to play catch-up, with auto giants hit by the Volkswagen scandal. The dollar edged up against most emerging market currencies ahead of a closely watched speech later in the day by Federal […]

September 24, 2015 | By | Reply More
‘RM9b LRT3 jobs up for bidsearly  next year’

‘RM9b LRT3 jobs up for bidsearly next year’

KUALA LUMPUR: MRCB George Kent Sdn Bhd will start awarding some 65 packages worth up to RM9 billion for the Light Rail Transit 3 (LRT3) project from early next year, say sources. The company, a 50:50 joint venture between Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd, is the project delivery partner (PDP) […]

September 24, 2015 | By | Reply More
‘RM9b LRT3 jobs up for bids early  next year’

‘RM9b LRT3 jobs up for bids early next year’

KUALA LUMPUR: MRCB George Kent Sdn Bhd will start awarding some 65 packages worth up to RM9 billion for the Light Rail Transit 3 (LRT3) project from early next year, say sources.

September 24, 2015 | By | Reply More
Hold off  property purchases, says buyers association

Hold off property purchases, says buyers association

KUALA LUMPUR: Property buyers should hold off on purchases until at least next year to enjoy lower prices as cooling measures implemented by Bank Negara Malaysia set in. Prices have stayed stagnant and the property market slowed somewhat in the last year, indicating that tighter lending rules and related measures are achieving their desired impact. […]

September 24, 2015 | By | Reply More
Reliance expects business to improve

Reliance expects business to improve

KUALA LUMPUR: Reliance Pacific Bhd (Reliance), a company engaged in hotel, property and tourism businesses, said its fiscal 2016/17 will improve partly driven by the launch of its Admiral Hill hotel project. “The project, if it does take off, will be a very good project. We are planning to market it to foreigners,” said Reliance […]

September 23, 2015 | By | Reply More
Chinese firms sign deal to buy 300 Boeing planes

Chinese firms sign deal to buy 300 Boeing planes

SHANGHAI: US giant Boeing has signed deals with Chinese firms to sell 300 aircraft and open a completion centre in the Asian giant, China’s official Xinhua news agency reported, as President Xi Jinping began his first state visit to the United States. The Xinhua report, which was datelined from Seattle, where Xi’s trip started on […]

September 23, 2015 | By | Reply More
ADB maintains 4.7pct growth outlook for 2015

ADB maintains 4.7pct growth outlook for 2015

KUALA LUMPUR: The Asian Development Bank has maintained its 4.7 per cent growth outlook for Malaysia this year but expects the economy to moderate slightly next year. In its latest Asian Development Outlook 2015, the bank expects the second half of the year to slow through the second half. “Private consumption faces headwinds from sagging […]

September 23, 2015 | By | Reply More
Malaysia needs immediate housing restructuring

Malaysia needs immediate housing restructuring

KUALA LUMPUR: Malaysia needs a more structured and modernised construction industry before it produces a ‘homeless generation’ in future, says National House Buyers Association. Speaking at the Does Greater Prosperity Come with Less Housing Affordability Forum today, its secretary-general Chang Kim Loong said the shrinking buyer affordability may result into a homeless generation if no […]

September 23, 2015 | By | Reply More