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Barakah get contract from Petronas Carigali

Barakah get contract from Petronas Carigali

PETALING JAYA: Barakah Offshore Petroleum Bhd’s wholly-owned unit, PBJV Group Sdn Bhd (PBJV), has bagged a contract estimated between RM20 million to RM30 million from Petronas Carigali Sdn Bhd. “The contract comprises the supply, refurbishment, and maintenance of cleaning pipeline inspection gauges (pig) and associated services in Sabah and Sarawak,” it told Bursa Mlaysia yesterday. […]

August 12, 2015 | By | Reply More
Ringgit heads further south against dollar

Ringgit heads further south against dollar

PETALING JAYA: The ringgit, which breached the psychological 4.0 per dollar barrier yesterday, is likely to weaken further with the continued devaluation of the yuan and ongoing domestic and political issues plaguing the country. Political uncertainties, especially controversies around the debt-ridden 1Malaysia Development Malaysia (1MDB) has accelerated the decline of the ringgit, even as other […]

August 12, 2015 | By | Reply More
Ringgit heads further south against dollar

Ringgit heads further south against dollar

PETALING JAYA: The ringgit, which breached the psychological 4.0 per dollar barrier today, is likely to weaken further with the continued devaluation of the yuan and ongoing domestic and political issues plaguing the country. Political uncertainties, especially controversies around the debt-ridden 1Malaysia Development Malaysia (1MDB) has accelerated the decline of the ringgit, even as other […]

August 12, 2015 | By | Reply More
M’sian ringgit slumps to weakest level in 17 years

M’sian ringgit slumps to weakest level in 17 years

The ringgit’s level on Wednesday was the lowest since then-leader Mahathir Mohamad imposed capital controls and a peg of 3.8 ringgit per dollar in 1998 to shield the economy amid a regional financial crisis. KUALA LUMPUR: Malaysia’s ringgit currency slid past 4.0 to the dollar on Wednesday for the first time in 17 years, pounded […]

August 12, 2015 | By | Reply More
New business solution aims to revolutionise international trade in Nigeria

New business solution aims to revolutionise international trade in Nigeria

Lagos, Aug 12: A new business solution that is expected to revolutionise international trade in Nigeria has been developed, introduced and launched by two major organisations in the country – Access Bank Plc. and GMT Nigeria Limited. They called the business solution FLOWS which is an acronym for Finance and Logistics Worldwide Scheme.   Speaking […]

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China central bank under pressure to weaken yuan further

China central bank under pressure to weaken yuan further

The Commerce Ministry, which on Wednesday publicly welcomed the devaluation as an export stimulus, had led the push for Beijing to abandon its previous strong-yuan policy. BEIJING: China’s move to devalue its currency reflects a growing clamor within government circles for a weaker yuan to help struggling exporters, ensuring the central bank remains under pressure […]

August 12, 2015 | By | Reply More
Ringgit breaches 4.0 amid yuan devaluation

Ringgit breaches 4.0 amid yuan devaluation

KUALA LUMPUR: The ringgit closed 1.96% lower, breaching the psychological level of 4.0 against the US dollar today, amid China’s central bank weakening the midpoint for the yuan for a second day. At 5pm, the local note was quoted at 4.0375/0415 against the greenback from 3.9600/9630 yesterday. “Spot yuan eased further today to 6.3870 per […]

August 12, 2015 | By | Reply More
KL shares close lower on persistent selling

KL shares close lower on persistent selling

KUALA LUMPUR: Share prices on Bursa Malaysia closed lower across the board today on persistent selling in line with the easier regional markets, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 26.78 points, or 1.64 per cent, to close at 1,609.93. The benchmark index had opened 7.5 points lower at 1,629.21 […]

August 12, 2015 | By | Reply More
Iran: Lifting of sanctions will lower oil prices and boost domestic economy if managed well

Iran: Lifting of sanctions will lower oil prices and boost domestic economy if managed well

Washington, Aug 12: Lifting sanctions related to Iran’s nuclear programme will have a significant impact on the world oil market, the Iranian economy and Iran’s trading partners. Iran’s full return to the global market will eventually add about a million barrels of oil a day, lowering oil prices by US$10 per barrel next year, according […]

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Sealing Pacific trade deal will be tough: Australia

Sealing Pacific trade deal will be tough: Australia

SYDNEY: Australia’s trade minister said Wednesday the last negotiating stages of a massive Pacific trade pact were “very difficult”, with the deal more likely to fail when the US presidential election cycle kicks in. Australia and 11 other Asia-Pacific countries have for more than five years been negotiating the Trans-Pacific Partnership (TPP), an agreement that […]

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