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Bursa Malaysia opens lower on lack of leads

Bursa Malaysia opens lower on lack of leads

KUALA LUMPUR: Bursa Malaysia opened lower today on lack of fresh leads to drive follow up buying after a rebound on Friday, dealers said. At 9.26am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,782.23, down 4.1 points, against Friday’s close of 1,786.33. Earlier, the benchmark index opened 3.4 points easier at 1,782.93. A […]

September 18, 2017 | By | Reply More
Ringgit opens higher against US dollar

Ringgit opens higher against US dollar

KUALA LUMPUR: The ringgit opened higher against the US dollar this morning on buying interest as the greenback remained weak following uncertainties lingering over the upcoming US Federal Open Market Committee meeting this month. At 9am, the local unit was quoted at 4.1870/1900 against the US dollar from 4.1880/1910 last Friday. Oanda Head of Trading […]

September 18, 2017 | By | Reply More
Will local stocks rally in run-up to GE14?

Will local stocks rally in run-up to GE14?

PETALING JAYA: Will the local stock market see another round of rally as the August 2018 deadline for the 14th General Election (GE14) nears? The answer looks more likely to be a “nay”, rather than an “aye”. Hong Leong Investment Bank Research head Sia Ket Ee said both external headwinds and lacklustre corporate earnings are […]

September 17, 2017 | By | Reply More
China's Fosun Pharma to buy smaller stake in Indian pharma firm

China's Fosun Pharma to buy smaller stake in Indian pharma firm

BEIJING: Shanghai Fosun Pharmaceutical Group has agreed to cut the size of the stake it will buy in India’s Gland Pharma to 74%, the Chinese drugmaker said on Sunday. It said Gland Pharma’s founding family wanted to retain a higher stake in the Indian firm because of its good performance. Fosun had previously been targetting […]

September 17, 2017 | By | Reply More
Khazanah Nasional: US$410m invested in US to date

Khazanah Nasional: US$410m invested in US to date

PETALING JAYA: Khazanah Nasional Bhd has made a total of 15 investments worth about US$410 million (RM1.7 billion) in the US to date, principally in the technology sector. The government’s strategic investment fund said in a statement last Friday that its investments in the US represented 1.3% of its portfolio’s realisable asset value of RM145.3 […]

September 17, 2017 | By | Reply More
NetX Holdings buys equity interest in Mlabs System for RM7.2m

NetX Holdings buys equity interest in Mlabs System for RM7.2m

PETALING JAYA: NetX Holdings Bhd’s (NetX) subsidiary First United Technology Ltd has acquired 8.43% equity interest in Mlabs System Bhd (Mlabs) for RM7.2 million cash. NetX told the stock exchange last Friday, the proposed investment into Mlabs will allow the group to potentially collaborate with an established company to expand its revenue base and to […]

September 17, 2017 | By | Reply More
Shunning dollar, Venezuela lists oil prices in Chinese yuan

Shunning dollar, Venezuela lists oil prices in Chinese yuan

CARACAS: Venezuela on Friday began listing the price of its oil in the Chinese yuan, following President Nicolas Maduro’s announcement last week that he would rid the economy of the “US imperialist system.” The move was seen as a bid to weather US-imposed sanctions on the embattled country. The country’s petroleum ministry listed the week’s […]

September 16, 2017 | By | Reply More
'Lively' investor interest in Air Berlin: CEO

'Lively' investor interest in Air Berlin: CEO

BERLIN: Bidding ended Friday for bankrupt Air Berlin, after a raucous battle for Germany’s second-largest airline that could see the carrier broken down for parts. “The lively interest from investors speaks well for Air Berlin,” chief executive Thomas Winkelmann said, as the firm announced “several” bids had arrived before the deadline. Some 8,500 employees, 140 […]

September 16, 2017 | By | Reply More
First cracks emerge in EU plan to raise online giants' tax bill

First cracks emerge in EU plan to raise online giants' tax bill

TALLINN: First signs of open skepticism appeared on Saturday over a European Union plan to raise the tax bill of digital multinationals, as some finance ministers from smaller EU states raised concerns about the economic impact. France is pushing for a new way of taxing online giants on the basis of their turnover, rather than […]

September 16, 2017 | By | Reply More
Ant Financial to try again for US approval of MoneyGram deal – Source

Ant Financial to try again for US approval of MoneyGram deal – Source

CHINESE payments company Ant Financial is planning to resubmit its application for US review of its deal to buy MoneyGram International Inc for $1.2 billion (RM5.03 billion), a source familiar with the matter said on Friday. Ant Financial and MoneyGram have already refiled for clearance from Committee on Foreign Investment in the United States (CFIUS) […]

September 16, 2017 | By | Reply More