RSSCategory: News

Ringgit opens lower against US dollar

Ringgit opens lower against US dollar

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today on the back of worries over escalating trade tensions between the United States and China. At 9am, the local currency stood at 4.1550/1580 against 4.1515/1545 recorded at Wednesday’s closing. Oanda Head of Trading in Asia-Pacific Stephen Innes said the US Treasury would likely […]

October 11, 2018 | By | Reply More
3rd national car: Asean effort to weather trade war?

3rd national car: Asean effort to weather trade war?

Bloomberg pic. KUALA LUMPUR: Malaysia’s third push to build a national car brand may see it sourcing parts from Southeast Asian neighbours, as the region forges stronger ties to weather out the US-China trade tensions. Prime Minister Dr Mahathir Mohamad’s dream of developing a homegrown automotive brand has courted interest from neighbouring countries, International Trade […]

October 11, 2018 | By | Reply More
Asia braces for losses after US stocks plunge

Asia braces for losses after US stocks plunge

SINGAPORE: Traders were set for losses in Asian stocks after a rout in US equities that deepened late in the day amid concerns the trade war is heating up as financial conditions tighten, dampening the outlook for profits. The yen and Treasuries climbed. Futures indicated Japanese shares will decline more than 3%, with Hong Kong […]

October 11, 2018 | By | Reply More
Stock investors brace for volatility as budget looms

Stock investors brace for volatility as budget looms

Bloomberg pic. KUALA LUMPUR: Five months after the surprise election win by Prime Minister Dr Mahathir Mohamad, investors in Malaysia’s stock market may finally be coming to grips that there will be more pain before any gain in the months ahead. Volatility in Malaysian stocks jumped to its highest since July and the FTSE Bursa […]

October 10, 2018 | By | Reply More
Ikea plans a dozen new markets in coming years

Ikea plans a dozen new markets in coming years

Branded flags fly outside the Ikea store in Hitech City on the outskirts of Hyderabad. (Bloomberg pic) STOCKHOLM: Ikea plans to expand to about a dozen new markets in the coming years, including branching into South America, as the Swedish furniture giant aims to reach a total of 3 billion potential customers by 2025. The […]

October 10, 2018 | By | Reply More
EU’s Barnier says Brexit deal “within reach” next week

EU’s Barnier says Brexit deal “within reach” next week

Michel Barnier said October will prove decisive to ‘see if a Brexit agreement is within reach’. (AFP pic) BRUSSELS: European Union Brexit negotiator Michel Barnier on Wednesday said an agreement with Britain was “within reach”, calling for decisive progress in the talks in time for a summit of all 28 EU leaders next week. Brexit […]

October 10, 2018 | By | Reply More
Michael shuts nearly 40% of US Gulf of Mexico oil output

Michael shuts nearly 40% of US Gulf of Mexico oil output

An oil rig at sea. (Bloomberg pic) PORT FOURCHON: Nearly 40% of daily crude oil production and more than one-third of natural gas output was lost from offshore US Gulf of Mexico wells on Wednesday because of platform evacuations and shut-ins ahead of Hurricane Michael. Michael intensified to a Category 4 storm and is expected […]

October 10, 2018 | By | Reply More
Affordable homes pipeline expands, deals in property market flat

Affordable homes pipeline expands, deals in property market flat

PETALING JAYA: Malaysian property developers are launching more residential units that are priced RM500,000 and below, but judging from the Real Estate and Housing Developers’ Association Malaysia’s (Rehda) Property Industry Survey 1H 2018, it has done little to move transaction numbers. The survey revealed that 65% of residential units launched in 1H 2018 were priced […]

October 10, 2018 | By | Reply More
Top Glove open to further M&As, undeterred by troubled Asdion deal

Top Glove open to further M&As, undeterred by troubled Asdion deal

SHAH ALAM: Top Glove Corp Bhd remains open to further merger and acquisition (M&A) opportunities despite the company’s troubled RM1.3 billion acquisition of Aspion Sdn Bhd from Singapore’s Adventa Capital Pte Ltd. Speaking to reporters after its EGM today, Top Glove founder and executive chairman Tan Sri Lim Wee Chai (pix) said the company is […]

October 10, 2018 | By | Reply More
Gamuda, MMC shares continue to weaken after scathing letter from Pua

Gamuda, MMC shares continue to weaken after scathing letter from Pua

PETALING JAYA: Gamuda Bhd and MMC Corp Bhd shares continued their losing streak today, after Finance Minister Lim Guan Eng’s political secretary Tony Pua wrote a scathing letter admonishing the MMC-Gamuda Joint Venture for implying that the decision to terminate its Mass Rapid Transit 2 (MRT2) underground works contract was hasty and ill-conceived, along with […]

October 10, 2018 | By | Reply More