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Bursa Malaysia opens lower

Bursa Malaysia opens lower

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today, tracking the performance of regional peers and Wall Street over China’s move to devaluate the yuan by two per cent, dealers said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.88 points down at 1,624.83, after opening 7.5 points easier at 1,629.21. […]

August 12, 2015 | By | Reply More
Ringgit breaches 3.99 in early trade

Ringgit breaches 3.99 in early trade

KUALA LUMPUR: The ringgit continued its slump in early trade today, breaching the 3.99 level per dollar for the first time since the Asian financial crisis 17 years ago. At 9.30am, the ringgit was quoted 0.8% lower at 3.9920/9970 against the greenback from 3.9600/9630 at 5pm yesterday. Dealers said foreign banks continued to offload the […]

August 12, 2015 | By | Reply More
Bursa M'sia opens lower

Bursa M'sia opens lower

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today, tracking the performance of regional peers and Wall Street over China’s move to devaluate the yuan by two per cent, dealers said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.88 points down at 1,624.83, after opening 7.5 points easier at 1,629.21. […]

August 12, 2015 | By | Reply More
Asia extends losses after shock yuan devaluation, dollar sought

Asia extends losses after shock yuan devaluation, dollar sought

TOKYO: Asian stocks and commodities extended losses on Wednesday, feeling the aftershocks of China’s surprise devaluation of the yuan, which hit US equities overnight and pushed down already-weak emerging currencies. This benefited the dollar, which rallied even against the safe-haven yen. What caught the equity, commodity and currency markets off balance was a boon to […]

August 12, 2015 | By | Reply More
Impact of GST & weaken MYR to e-commerce business

Impact of GST & weaken MYR to e-commerce business

This week is the extended deadline of GST submissions for many businesses (with less than RM5 million turnover). There is no doubt that GST has became a burden for many merchants, not only limited to e-commerce. Furthermore, the situation has made worse with the weaken currency (MYR) recently. We have spoken to a couple of e-commerce […]

August 12, 2015 | By | Reply More
M’sia’s Hong Leong Bank plans up to $757 mln rights issue-sources

M’sia’s Hong Leong Bank plans up to $757 mln rights issue-sources

August 12, 2015 KUALA LUMPUR/SINGAPORE: Aug 11 Hong Leong Bank Bhd is planning to raise up to 3 billion ringgit ($757 million) in rights issues this year to strengthen its capital, two sources with direct knowledge of the matter told Reuters. The bank, Malaysia’s fifth largest by assets, is the last of its peers to […]

August 11, 2015 | By | Reply More
Oil prices skid on China currency move

Oil prices skid on China currency move

August 12, 2015 NEW YORK: US oil prices sank to their lowest level in more than six years Tuesday after a surprise currency devaluation in China raised worries about the world’s second-biggest economy. US benchmark West Texas Intermediate for delivery in September fell $1.88 to $43.08 a barrel on the New York Mercantile Exchange, the […]

August 11, 2015 | By | Reply More
US busts hacking/insider trading ring

US busts hacking/insider trading ring

NEW YORK: An international team of computer hackers and stock traders was charged with pocketing more than $100 million in illicit profits based on stolen market-moving financial information, US officials announced Tuesday. The Department of Justice charged nine people in a criminal conspiracy with making more than $30 million in illegal trades on the pilfered […]

August 11, 2015 | By | Reply More
Huge bailout for Greece agreed ‘in principle’

Huge bailout for Greece agreed ‘in principle’

ATHENS: Greece’s government on Tuesday announced it had reached the outline of a deal for an international bailout worth 85 billion euros ($94 billion) to save its stricken economy from collapse. The European Commission said Athens and its creditors had reached a technical agreement “in principle” on a bailout — the third for the debt-crippled […]

August 11, 2015 | By | Reply More
US says ‘too early to judge’ China currency devaluation

US says ‘too early to judge’ China currency devaluation

WASHINGTON: The United States said it would be premature to assess China’s surprise yuan devaluation Tuesday, warning than any reversal in Chinese reforms would be “troubling”. In the first reaction from the Obama administration to the People’s Bank of China’s nearly 2.0 percent cut in the yuan’s reference rate to the dollar, the Treasury said […]

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