US Senate votes to examine Federal Reserve lending
WASHINGTON: The Senate voted unanimously to peer into Federal Reserve decision-making Tuesday, authorizing an examination of the central bank’s emergency lending to financial institutions in the months surrounding the 2008 financial crisis.
Euphoria fades over euro rescue
BRUSSELS: The German government backed a US$1 trillion rescue package for Europe’s troubled currency union as European Union officials readied tougher oversight over budgets and economies of most member countries in an effort to contain the region’s troubling debt crisis.
Bank of Korea keeps rate at record-low
SEOUL: South Korea’s central bank has left its key interest rate at a record low for a 15th straight month amid expectations the country’s economy will rebound strongly in 2010.
Microsoft offers free software
SEATTLE: Microsoft Corp. is rolling out a new edition of its Office programs to businesses Wednesday, and for the first time it’s adding versions of Word and other programs that work in a Web browser and will be free for consumers.
US stocks down slightly
NEW YORK: The stock market mostly held on to its big comeback Tuesday after investors set aside worries about Europe’s debt struggles.
Oil prices fall slightly with attention on euro
NEW YORK: Oil prices seesawed Tuesday as investors continued to assess the impact of a US$1-trillion-dollar bailout package in Europe.
David Cameron becomes new British PM; Brown out
More EPF withdrawal applications seen
KUALA LUMPUR: The number of withdrawal applications to the Employees Provident Fund (EPF) for unit trust investments is expected to reach 500,000 this year due to the introduction of a new online system.
World Cup on multiple platforms for Astro subscribers
KUALA LUMPUR: Astro subscribers will, for the first time, be able to watch the worlds biggest sporting event the 2010 FIFA World Cup in South Africa, via television, online and mobile without any extra charges.
Vincent Tans Ascot Sports gaming licence somes with conditions
KUALA LUMPUR: The sports gaming licence issued to tycoon Tan Sri Vincent Tans Ascot Sports Sdn Bhd early this year comes with several conditions attached.
Companies Commission forms special taskforce to fight crime
KUALA LUMPUR: The Companies Commission of Malaysia (SSM) has established a special taskforce that would collaborate with other government agencies to help fight against white collar crimes and build greater investor confidence, among locals and foreigners.
Tune Hotels, Plato in RM100mil JV
KUALA LUMPUR: Tune Hotels.com has entered into a joint venture with Singapore-based Plato Capital Ltd to develop and operate Tune Hotels throughout key countries in South-East Asia, Australia and the United Kingdom.
PIDM’s jurisdiction to expand
KUALA LUMPUR: The Malaysia Deposit Insurance Corp (PIDM) is expanding its role from covering bank depositors to include policy holders of insurance and takaful schemes by establishing an insurance compensation scheme.
TNB looks at other power options from Sarawak
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is looking for other options on bringing power from Sarawak to Peninsular Malaysia after the idea of dedicating power from Bakun has been shelved, says president/chief executive officer Datuk Seri Che Khalib Mohamed Noh.
Industrial output accelerated in March
KUALA LUMPUR: Malaysias industrial output expanded significantly in March compared with the same period last year, as indicated by the countrys industrial production index (IPI) as released by the Department of Statistics yesterday.
Sime Darby should be telling investors more
IF I were a shareholder of Sime Darby Bhd, Id naturally be miffed that the conglomerates engineering division may have suffered significant cost overruns in some of its major projects. And Id also be irked about the lack of clarity about how bad the situation is.
Analysts bullish about PLUS
DESPITE all the hoopla surrounding Asas Serba Sdn Bhd and its now well-publicised interest in taking over the toll highway operators, analysts remain positive on the biggest player, PLUS Expressways.
Financial reforms must continue
IN the midst of the furore over the Greek debt crisis, we should not forget financial reforms that were painfully crafted earlier have to still go ahead.
New Alliance Bank group CEO identified
PETALING JAYA: Alliance Bank Malaysia Bhd has identified a candidate as its new group chief executive officer (CEO).
Petra Perdana proposes private placement
KUALA LUMPUR: Petra Perdana Bhd is proposing a private placement of up to 29.76 million new ordinary 50 sen shares or not more than 10% of the issued and paid-up capital share of the company as well as a proposed rights issue of new ordinary shares together with free warrants attached.
K-Star launches IPO prospectus
KUALA LUMPUR: K-Star Sports Ltd, which will be the fourth China company to be listed on the Main Market of Bursa Malaysia launched the prospectus for its initial public offering (IPO) yesterday.
Asean e-trading link soon
PETALING JAYA: Bursa Malaysia Bhd hopes to roll out an electronic trading initiative that will allow local investors direct access to stocks listed in other exchanges within the Asean region in about a year from now, said chief executive officer Datuk Yusli Mohamed Yusoff.
Shares down, gold up to near record on crisis worries
PETALING JAYA: Shares in mainland China fell into a bear market yesterday on lending curb worries that weighed down on investors sentiment across Asia, while Mondays optimism fizzled out as doubt takes over on whether the debt problem in Europe can be solve quickly.
Higher demand lifts Hartalega Q4 net profit
KUALA LUMPUR: Hartalega Holdings Bhd reported a 49.7% jump in net profit to RM46.4mil for the fourth quarter ended March 31 from RM31mil a year ago.
Lower Q4 net profit for PGas
PETALING JAYA: Petronas Gas Bhd posted a lower net profit of RM201.4mil in the fourth quarter ended March 31, 2010 from RM261.82mil registered on the same period last year due to lower revenue.
Mini-Circuits sees net profit, sales up 20%
GEORGE TOWN: Mini-Circuits Technologies (Malaysia) Sdn Bhd expects both its revenue and net profit to grow by about 20% compared to 2009.
Toyotas fourth quarter profit beats forecasts
TOKYO: Toyota Motor Corp beat forecasts with a fourth-quarter profit yesterday as it cut costs and its aggressive sales incentives swiftly drew US customers back to showrooms after its worst recall crisis.
Yinson sees growing demand in marine transportation services
JOHOR BARU: Yinson Holdings Bhd sees the global oil and gas (O&G) sector offering good business opportunities especially demand for the marine-related transportation services.
Nasim raises vehicles sales prediction
KUALA LUMPUR: Nasim Sdn Bhd, the official distributor of Peugeot vehicles in Malaysia, has revised upwards its sales forecast for this year by nearly 30% to 3,800 units from 2,930 units previously.
Essence in tie-up to take top position
PETALING JAYA: Burson-Marsteller (B-M), one of the worlds largest public relations agencies, is forming an alliance with Petaling Jaya-based PR firm Essence Communications which will see the latter be its exclusive affiliate partner in Malaysia.
Samsung to spend US$21bil on new businesses
SEOUL: South Koreas biggest business conglomerate Samsung Group said yesterday it would invest 23.3 trillion won (US$20.6bil) by 2020 in new businesses including health care and green energy technology.
Rising prices point to more China tightening
BEIJING: Chinese annual inflation pushed up to an 18-month high in April and property prices rose at a record clip, showing that the government still has its work cut out to keep the worlds third largest economy from boiling over.
US begins new Toyota probe
WASHINGTON: Toyota Motor Corp came under new scrutiny on Monday over its recall practices just after the Obama administration said the company was paying closer attention to safety matters.