Recent Articles

Britain's Sainsbury's boosts pay on shop floor

Britain's Sainsbury's boosts pay on shop floor

LONDON: British supermarket chain Sainsbury’s will hand its 137,000 non-management store staff their highest pay increase in more than a decade this month, it said on Thursday, lifting its basic pay above the recently announced national living wage. Sainsbury’s, locked in a price war with Tesco , Asda and Morrisons as the so-called Big Four […]

August 26, 2015 | By | Reply More
Ackman says Pershing Square down for the year after markets drop

Ackman says Pershing Square down for the year after markets drop

BOSTON: Billionaire investor William Ackman, one of last year’s best performing hedge fund managers, is now losing money after the recent market plunge wiped out a double-digit gain. The shift of fortunes shows how much tumbling markets, sparked by sharp declines in Chinese stock prices, have hurt the world’s most prominent investors. “At the date […]

August 26, 2015 | By | Reply More
Wall Street is for sale – but is it cheap?

Wall Street is for sale – but is it cheap?

NEW YORK: During more than a week of stock market sell-offs, investors have been exhorted to use declines to pick up bargains: and with a 7.7 percent drop on the S&P 500 since August 17, stocks have certainly gotten less expensive. To determine how cheap they are, investment pros look at yields, earnings and more. […]

August 26, 2015 | By | Reply More
Dollar gains as Wall Street rebounds from six-day rout

Dollar gains as Wall Street rebounds from six-day rout

NEW YORK: The dollar broadly strengthened on Wednesday as a strong US equities rally snapped a six-day rout, signalling resilience in the face of China’s woes that have roiled markets. A better-than-expected official US manufacturing report, showing orders for durable goods – products expected to last at least three years – jumped 2.0 per cent in July. […]

August 26, 2015 | By | Reply More
Market turmoil makes September rate hike 'less compelling': Fed's Dudley

Market turmoil makes September rate hike 'less compelling': Fed's Dudley

NEW YORK: A Federal Reserve interest rate hike next month seems less appropriate given the threat posed to the U.S. economy by recent market turmoil, an influential Fed official said on Wednesday in the clearest sign that fears of a Chinese slowdown are influencing U.S. monetary policy. New York Fed President William Dudley said the […]

August 26, 2015 | By | Reply More
Selangor Dredging seeks land, says prices more reasonable now

Selangor Dredging seeks land, says prices more reasonable now

KUALA LUMPUR: Selangor Dredging Bhd (SDB) is looking to replenish its landbank in Malaysia and Singapore as land prices have become more reasonable, said its managing director Teh Lip Kim. “Land prices have become more reasonable. Before this, land prices increased to a level that was not feasible to be developed and we held off […]

August 26, 2015 | By | Reply More
Sime Darby’s FY15 net profit down 31%

Sime Darby’s FY15 net profit down 31%

KUALA LUMPUR: Sime Darby Bhd, which suffered a 31% drop in net profit for the financial year ended June 30, 2015 (FY15), expects crude palm oil (CPO) prices to average between RM1,900 and RM2,000 per tonne from now till end of September. “Beyond that it is difficult to predict because it is an interplay of […]

August 26, 2015 | By | Reply More
Kwasa Land awards
Project R2-1 to Naza TTDI

Kwasa Land awards Project R2-1 to Naza TTDI

PETALING JAYA: Kwasa Land Sdn Bhd, the master developer for the 2,330-acre iconic Kwasa Damansara township has awarded Project R2-1, a proposed residential development of a site measuring 12.7 acres, to Naza TTDI Sdn Bhd. The award letter dated Aug 24, 2015 stipulated conditions for the parties to finalise and to sign the Development Rights […]

August 26, 2015 | By | Reply More
STMB, RHB ink deal

STMB, RHB ink deal

PETALING JAYA: Syarikat Takaful Malaysia Bhd (STMB) has yesterday entered into a 10 year exclusive bancatakaful relationship with RHB Islamic Bank for a total service fee of RM110 million. Under the agreement, RHB Islamic will distribute family and general takaful products developed by STMB.

August 26, 2015 | By | Reply More
TNB inks supplemental power
purchase deal with Jimah East

TNB inks supplemental power purchase deal with Jimah East

PETALING JAYA: Tenaga Nasional Bhd (TNB) has signed a supplemental power purchase agreement (PPA) with Jimah East Power Sdn Bhd (JEP) for the development of the 2x1000MW coal-fired power plant in Mukim Jimah. In a filing with Bursa Malaysia yesterday, TNB said the supplemental PPA governs the obligations of the parties to sell and purchase […]

August 26, 2015 | By | Reply More