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Ministry evaluating China group’s Gemas-JB rail proposal

Ministry evaluating China group’s Gemas-JB rail proposal

KUALA LUMPUR: The Ministry of Transport (MoT) is evaluating the proposal submitted by a consortium of Chinese companies for the Gemas-Johor Baru electrified double-tracking rail project. In a statement issued on Saturday, the ministry clarified an earlier report by Bernama that said the project would be awarded to China Railway. MoT said a letter of […]

December 13, 2015 | By | Reply More
Petronas Dagangan divests Vietnam LPG biz

Petronas Dagangan divests Vietnam LPG biz

KUALA LUMPUR: Petronas Dagangan Bhd is divesting its liquefied petroleum gas (LPG) businesses in Vietnam as part of its portfolio rationalisation strategy. In a filing with Bursa Malaysia on Friday, Petronas Dagangan said its unit, PDB (Netherlands) BV (PDBN), had entered into two share sale and purchase agreements with Totalgaz Vietnam Ltd. “Under these agreements, […]

December 13, 2015 | By | Reply More
Zuma drops new finance minister after market backlash

Zuma drops new finance minister after market backlash

PRETORIA: South African President Jacob Zuma fired his new finance minister on Sunday just four days after the appointment sparked a market backlash, the presidency said. Zuma has now named Pravin Gordhan, who held the post for five years until 2014, to replace little known ruling party legislator David van Rooyen who was sworn in […]

December 13, 2015 | By | Reply More
Volkswagen to start recalls in France in February

Volkswagen to start recalls in France in February

PARIS: German auto giant Volkswagen, still reeling from its massive pollution cheating scandal, will begin recalling some 940,000 vehicles in France in February, VW Group France President Jacques Rivoal said on Sunday (Dec 13). Rivoal said in an interview with French newspaper Journal du Dimanche that the recall will “begin February 2016”, and that each […]

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Wall Street veterans say rate-hike past is not prologue for markets

Wall Street veterans say rate-hike past is not prologue for markets

NEW YORK: It has only been six years since the U.S. stock market rout brought on by the financial crisis, but as far as Deena Katz’s clients are concerned, that might as well be ancient history. “People have a thirty-second memory,” said Katz, 65, co-chairman at Evensky & Katz/Foldes Financial Wealth Management. “We’re used to […]

December 13, 2015 | By | Reply More
For big business seeking CO2 emissions price, a ray of hope from Paris

For big business seeking CO2 emissions price, a ray of hope from Paris

PARIS: For the most part, big business wanted one thing from the climate accord in Paris on Saturday: a price on carbon dioxide (CO2) emissions. While on the surface their hopes were dashed, looking deeper may give them cause for hope. Multinational companies from oil giant BP to consumer products maker Unilever have called for […]

December 13, 2015 | By | Reply More
China economy shows signs of steadying, more policy support needed

China economy shows signs of steadying, more policy support needed

China’s activity data was stronger than expected in November, with factory output growth picking up to a five-month high, signaling that a flurry of stimulus measures from Beijing may have put a floor under a fragile economy. Still, analysts believe more policy steps are needed to weather nagging headwinds from a cooling property market, risks […]

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Cuba seals 'historic' debt pact with Paris Club

Cuba seals 'historic' debt pact with Paris Club

PARIS: Cuba on Saturday (Dec 12) concluded a “historic accord” over debt that was not paid to foreign creditors for the last 25 years, French Finance Minister Michel Sapin announced. “This accord helps to definitively resolve the issue of Cuba’s medium-term debt … which has not been honoured since the 1980s,” he said in a […]

December 12, 2015 | By | Reply More
Engineering climate: from pariah to saviour?

Engineering climate: from pariah to saviour?

LE BOURGET, France: Once dismissed as dangerous science fiction, schemes to stave off global warming by re-engineering Earth’s climate may well gain in traction as a result of the Paris agreement. The landmark climate deal reached in Paris on Saturday poses a dilemma. It sets ambitious targets for capping global warming yet Earth’s economy remains […]

December 12, 2015 | By | Reply More
China economy shows signs of steadying, but more support needed

China economy shows signs of steadying, but more support needed

BEIJING: China’s activity data was stronger than expected in November, with factory output growth picking up to a five-month high, signalling that a flurry of stimulus measures from Beijing may have put a floor under a fragile economy. Still, analysts believe more policy steps are needed to weather nagging headwinds from a cooling property market, […]

December 12, 2015 | By | Reply More