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Dollar little changed against euro, yen

Dollar little changed against euro, yen

NEW YORK: The dollar was little changed against the euro and the yen on Wednesday, while the pound rallied on solid economic data on the eve of the Bank of England’s policy decision. The euro slipped slightly to US$1.1237 and the dollar edged up to 120.00 yen. “Neither has moved much of recent, perhaps due to the upswing in […]

October 7, 2015 | By | Reply More
VW's US chief apologises to Congress for emissions scandal

VW's US chief apologises to Congress for emissions scandal

NEW YORK: The head of Volkswagen’s US division apologised to Congress and said the company takes “full responsibility” for an emissions cheating scandal, according to testimony released on Wednesday (Oct 7). Michael Horn, president and chief executive of Volkswagen Group of America, said it was “deeply troubling” that the company installed a “defeat device” on […]

October 7, 2015 | By | Reply More
S&P 500 reaches three-week high as health stocks rally

S&P 500 reaches three-week high as health stocks rally

REUTERS: U.S. stocks ended stronger after a volatile session on Wednesday, led by a rebound in biotechnology companies that pushed the S&P 500 to its highest level in three weeks. Materials shares also rose, helped by rising gold and silver prices. Investors’ focus is turning to earnings, and Yum! Brands was the S&P’s biggest loser […]

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TPPA cost-benefit analysis out next month

TPPA cost-benefit analysis out next month

PUTRAJAYA: The much awaited cost-benefit analysis is expected to be finalised two weeks after the Trans-Pacific Partnership Agreement (TPPA) text is made public in early November, according International Trade and Industry Minister Datuk Seri Mustapa Mohamed. The Malaysian Institute of Strategic & International Studies (Isis) and PricewaterhouseCoopers (PwC) Malaysia are responsible for the cost-benefit analysis, […]

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International reserves at RM415.1 billion on September 30

International reserves at RM415.1 billion on September 30

PETALING JAYA: The international reserves of Bank Negara Malaysia amounted to RM415.1 billion (equivalent to US$93.3 billion) as at Sept 30, 2015. The decline in reserves in US dollar terms as at Sept 30 was mainly due to the quarterly adjustment for foreign exchange revaluation changes. The reserves position is sufficient to finance 8.6 months […]

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August exports up 4.1%, beat expectations

August exports up 4.1%, beat expectations

PETALING JAYA: Malaysia’s exports expanded 4.1% in August from a year ago, accelerating from the 3.5% growth seen in July this year. However, imports contracted 6.1%, a sharp reversal from an expansion of 5.9% seen in the previous month. Consequently, the trade surplus widened to RM10.2 billion in August from RM2.4 billion in July – […]

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Carrier unaware of privatisation

Carrier unaware of privatisation

PETALING JAYA: AirAsia Bhd says it is unaware of claims that the low-cost carrier will be taken private by its founders. However, AirAsia confirmed that it is in discussions with certain bankers to partially finance the buyback of its shares. “Referring to yesterday’s (Tuesday’s) wire and media reports stating that the company will be taken […]

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YTL, Malakoff, TNB secure short-term power supply contracts

YTL, Malakoff, TNB secure short-term power supply contracts

KUALA LUMPUR: YTL Power International Bhd, Malakoff Corp Bhd and Tenaga Nasional Bhd (TNB) have been granted short-term contracts to supply electricity, said Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili. “The three companies have already received extensions because there is an expansion shortage with some project delay, so we opened competitive […]

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OpenSys upbeat on cash recycling machines segment

OpenSys upbeat on cash recycling machines segment

PETALING JAYA: OpenSys (M) Bhd is optimistic on its business growth, given the market potential and positive ecosystem in the country. The company, which provides financial services solutions, operates three business segments, namely self-service kiosks, bill payment systems and customer support and services segments. Speaking to reporters after its EGM yesterday, president and CEO Tan […]

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DRB-Hicom: Aerospace division to post 18-20% revenue growth in FY16

DRB-Hicom: Aerospace division to post 18-20% revenue growth in FY16

SHAH ALAM: DRB-Hicom Bhd, which has secured a 15-year contract extension to supply aircraft composite components to UTC Aerospace System, expects its aerospace arm to register an 18-20% revenue growth for the financial year ending March 31, 2016 (FY16). During a press conference after the signing ceremony yesterday, DRB-Hicom’s subsidiary CTRM Aero Composites Sdn Bhd […]

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