Oil settles lower after Fed revises outlook
NEW YORK (AP): Oil prices drifted lower Wednesday after the Federal Reserve lowered its forecast for U.S. economic growth this year.
Weaker Fed forecast sends interest rates lower
NEW YORK (AP): Interest rates fell in the Treasury market Wednesday as a weaker economic forecast from the Federal Reserve boosted buying of safe-haven assets.
Companies spending more on tech but still cautious
SAN FRANCISCO (AP): Companies finally appear to be muscling up their spending on the most expensive kinds of computers after slashing budgets during the recession, but fears of more economic uncertainty are proving tough for the technology industry to shake.
IMF: Japan’s recovery will slow later this year
WASHINGTON (AP): The International Monetary Fund says that Japan’s economic recovery will likely slow in the second half of the year as the pace of exports eases and stimulus measures end.
Stocks mixed after weaker Fed economic outlook
NEW YORK (AP): A weaker economic forecast from the Federal Reserve chilled the stock market’s winning streak.
Felda to announce Bakkes successor
PETALING JAYA: Felda will announce today the successor to Datuk Mohd Bakke Sallehs post as Felda Global Ventures Holdings Sdn Bhd president and chief executive officer.
Gamuda, MMC eye tunnel works
PETALING JAYA: Gamuda Bhd and MMC Corp plan to bid for the RM14bil tunnelling works if their joint-venture mass rapid transit (MRT) system proposal is accepted by the Government, said Gamuda group managing director Datuk Lin Yun Ling.
Singapore raises growth forecast to 13%-15%
SINGAPORE: Singapores economy may expand at a record pace this year after the government substantially raised its growth forecast yesterday on the back of a strong first half.
Asian markets rise on investors upbeat mood
PETALING JAYA: Asian stock markets roared yesterday, with Singapores stunning growth providing fresh evidence that the regions economy is doing well despite lingering concern about potential fallout from the eurozone debt crisis and a fledgling recovery in the United States.
Analysts expect subsidy cut in August
PETALING JAYA: Analysts expect the subsidy rationalisation plan is on track and scheduled to take place in August although several research reports have expressed uncertainty over its implementation.
Keck Seng to get mandate over Parkway stake
PETALING JAYA: Plantation and property firm Keck Seng (M) Bhds board has decided to obtain a shareholders mandate in respect of the companys stake in Singapore-listed healthcare provider Parkway Holdings Ltd.
MRT to give high economic investment return
STARBIZ: Can you elaborate on how the wheel and spoke network for the proposed MRT is easier for future expansion?
Revisiting corporate governance
CORPORATE governance issues have been put under the microscope again recently. And its hardly surprising, given the parade of miscreants making the headlines lately.
Kumpulan Jetson investors confused by his resignation, followed by retraction
Penang airport getting hotel and more carparks
GEORGE TOWN: The expansion of the Penang International Airport will include a privatised project to build a business-class hotel on top of a four-storey carpark, extend the floor space of the terminal to 36,000 sq m, and install a multiple aircraft ramp system.
SC rejects WWEs restructuring scheme
PETALING JAYA: Turnkey water and environmental specialist WWE Holdings Bhds proposed restructuring scheme has been rejected by the Securities Commission (SC) for non-compliance to certain issues related to equity guidelines.
Xian Leng to widen ornamental fish range
BATU PAHAT: Xian Leng Holdings Bhd will focus on breeding more ornamental fish in the next two to three years for the domestic and export markets.
Dolomite contract
PETALING JAYA: Dolomite Corp Bhds (DCB) wholly-owned subsidiary has received a letter of award worth RM60.5mil to construct a 3,060-student capacity hostel for Universiti Technical Malaysia in Malacca.
Nikko wont appeal
PETALING JAYA: Nikko Electronics Bhds board of directors has decided not to appeal against the Securities Commissions (SC) rejection of the companys proposed restructuring scheme.
Support Line
Toyota to assemble Camry sedan in Shah Alam
PETALING JAYA: Toyota Motor Corp of Japan will produce its Camry sedan at Assembly Services Sdn Bhds plant in Shah Alam in two years.
H2 hotel occupancy in Penang expected to rise
GEORGE TOWN: The hotel industry in Penang is expected to register a higher occupancy rate of about 70% in the second half of 2010, compared with about 65% in the corresponding period of 2009.
Revenue from Azman complex to support needy students
KUALA LUMPUR: The rental income from the new Azman Hashim Complex, launched yesterday, will be used to sponsor 15 selected local and foreign students from the International Islamic University Malaysia (IIUM).
Call for review of Kg Baru land restriction
KUALA LUMPUR: There is a need to change the law on land ownership restriction in Kampung Baru to allow non-Malays rent or occupy properties there.
Damansara Realty defers revamp plan
PETALING JAYA: Damansara Realty Bhd is deferring its application to the relevant authorities for the proposed corporate restructuring pending certain issues to be resolved by it and Johor Corp.
Chemical and petrochemical sector poised for recovery this year
KUALA LUMPUR: The chemical and petrochemical industry is poised for recovery this year based on better overall performance in the first five months, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
Miti and EPU to put up joint paper on gas supply issue
KUALA LUMPUR: The International Trade and Industry Ministry (Miti) and the Economic Planning Unit (EPU) will be putting up a joint paper to address the gas supply issue, said Minister Datuk Seri Mustapa Mohamed yesterday.
TNB profit up in Q3 on higher power demand
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) posted a net profit of RM1.11bil for its third quarter (Q3) ended May 31, thanks to higher demand for power, particularly from the industrial and commercial sectors.
1st MEMC-owned solar wafer ops by year-end
KUCHING: MEMC Electronic Materials Incs first internal solar wafer manufacturing facility at the Sama Jaya Free Industrial Zone will have an initial annual production of 600 megawatt (equivalent of solar energy) when it begins operation in five to six months.
Insurers cautiously optimistic
PETALING JAYA: Insurers are cautiously optimistic the second half of 2010 will be better than the first amid the stable economic environment despite volatility in the global markets.
KFH Msia posts Q1 loss on higher provisioning
PETALING JAYA: Kuwait Finance House (M) Bhd, the locally incorporated subsidiary of Kuwait Finance House KSC, posted a first quarter loss of RM63.3mil compared with a net profit of RM17.7mil a year earlier due to higher provisioning for non-performing financing (NPF).
Landmark US banking bill faces final vote this week
WASHINGTON: President Barack Obama on Tuesday secured the 60 votes he needs in the Senate to pass a sweeping overhaul of US financial regulations, all but ensuring that he soon will sign into law one of the top initiatives of his presidency.
Maybank gets three awards from Asiamoney
KUALA LUMPUR: Malayan Banking Bhd (Maybank) achieved a rare three Asiamoney Annual Private Banking Poll 2010 awards for a Malaysian private banking services provider.
|