Germany may prevent Facebook checks by employers
BERLIN: Ever thought twice about posting a party picture on Facebook, fearing it could someday hurt your chance at a dream job?
Oil settles higher after six days of declines
NEW YORK: Oil prices settled higher on Wednesday, coming back from earlier lows that followed reports of weak orders for big-ticket durable goods and falling new home sales.
US stocks up, but most global stocks fall
Development of former Pudu Jail site to cost RM5bil
KUALA LUMPUR: UDA Holdings Bhd is talking to a few joint-venture partners to develop the former Pudu jail site and the 22-acre land next to it, but UDA will remain the sole master developer. The project is estimated to cost about RM5bil.
Airlines see strong forward bookings in H2
PETALING JAYA: While airlines in Malaysia are seeing strong forward bookings for the second half of 2010, the International Air Transport Association (IATA) has warned that growth in the aviation sector will slow as consumer demand remains weak.
Selangor receives RM3.47bil investments in H1 this year
SHAH ALAM: Selangor received investments worth RM3.47bil involving 166 projects for the first half of this year, said Teresa Kok, Selangor state executive councillor for investments, industrialisation and trade.
Stronger results from most plantation firms
PETALING JAYA: Listed plantation companies which released their quarterly results yesterday generally posted stronger performances buoyed by higher average selling prices of crude palm oil (CPO) and palm kernel (PK) as well as higher sales volume.
Kenmark receives liquidators notice
PETALING JAYA: Kenmark Industrial Co (M) Bhd received a notice of appointment of provisional liquidators from Deloitte Corporate Solutions Sdn Bhd notifying the appointment by an order of the High Court.
MMC forms joint venture with Zelan
PETALING JAYA: MMC Corp Bhd forms a joint-venture company with Zelan Bhd, under the name MMC Zelan Sdn Bhd to prepare and submit tenders for infrastructure projects under the 10th Malaysia Plan.
Investors’ perception not affected by Carrefour’s proposal, says Mukhriz
MALACCA: Carrefour’s proposal to sell its hypermarket business in Malaysia will not have a negative effect on investors’ perception towards the country, Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said yesterday.
AmInvestment sees higher takeup rate for AmGlobal fund
KUALA LUMPUR: AmInvestment Bank Group expects the takeup rate for its AmGlobal Agribusiness feeder fund to increase by 50% in coming months in line with improved global economic conditions.
MMCs Saudi port project to go on despite harbour being aborted
PETALING JAYA: MMC Corp Bhds port project at Jazan Economic City (JEC) in Saudi Arabia will proceed despite the tender for the construction of its harbour being aborted, said a MMC Corp spokesperson.
MyPartnership Portal to further raise transparency of UKAS
PUTRAJAYA: The MyPartnership Portal is expected to further increase the transparency of the Public Private Partnership Unit (UKAS), Minister in the Prime Ministers Department, Tan Sri Nor Mohamed Yakcop said.
Big money awaits SMEs in biomass
KUCHING: There is big money in biomass if small and medium enterprises could tap into technology developed by local universities and research institutions.
New market for private hospitals in Johor
NUSAJAYA: Private healthcare providers should consider setting up specialist medical centres in southeast Johor following the development of an oil and gas (O&G) hub there.
M’sia to open up 15 services sub-sectors
KUALA LUMPUR: International Trade and Industry Ministry said Malaysia will meet its Asean commitments for the liberalisation of services sector when it liberalises 15 new services sub-sectors.
Indonesian association says RSPO certification too costly
JAKARTA: Only 10.5% members of the Indonesian Palm Oil Producers Association (Gapki) have the Roundtable on Sustainable Palm Oil (RSPO) status due to the high cost for certification and low premiums for sustainable crude palm oil (CPO).
Growing concerns over outlook pull down markets
PETALING JAYA: Asian markets fell yesterday with the Tokyo bourse slumping to the lowest since April 30 last year, as concerns heightened following a spate of gloomy macro news.
Metech on verge of PN17
PETALING JAYA: Bursa Malaysia Securities Bhd said Metech Group Bhd has triggered the criteria pursuant to Practice Note No 17 (PN17) of the Main Market Listing Requirements of Bursa Securities.
F&N believed to be keen on substantial stake in Cocoaland
PETALING JAYA: Fraser & Neave Holdings Bhds (F&N) is believed to be the interested party acquiring a substantial stake in Cocoaland Holdings Bhd following requests for suspension of trading in the two companies shares today pending an announcement.
Support Line
K.M. Lee writes on Genting, Hirotako and Supermax
Axiata commits to pay investors at least 30% of earnings
KUALA LUMPUR: Axiata Group Bhd, which posted a 9.5% increase in profit after tax and minority interest (patami) to RM576.8mil for the second quarter ended June 30 on improved contributions from its operating companies, intends to pay at least 30% of earnings as dividends from next year.
CIMB seen beating estimates in Q2
PETALING JAYA: CIMB Group Holdings Bhd is expected to report its second quarter results today, and analysts are expecting the banking groups earnings to outpace consensus estimates for the third consecutive quarter on lower sequential loan loss provisions, further traction in PT Bank CIMB Niaga Tbks earnings growth, and recognition of various one-off gains.
OSK Holdings Q2 net profit tumbles to RM19mil
PETALING JAYA: OSK Holdings Bhd posted a 55% lower net profit to RM18.6mil for the second quarter ended June 30 against RM41.7mil it gained during the previous corresponding period.
IJM posts 21.1% rise in net profit
SUBANG: IJM Corp Bhd posted a 21.1% increase in net profit to RM90mil for its first quarter ended June 6, compared with RM70.8mil in the corresponding period last year. Revenue stood at RM986.1mil from RM1.16bil previously.
MIDF expects IOI to perform satisfactorily
KUALA LUMPUR: MIDF Research is optimistic that IOI Corp Bhd will perform satisfactorily in the new financial year.
E&O profit up on property arm
PETALING JAYA: Eastern & Oriental Bhd (E&O) net profit for the first quarter ended June 30 rose 103% to RM10.2mil from RM5.1mil in the same period last year, driven mainly by its property development arm.
Glass business to lift LTKM earnings
SHAH ALAM: Egg producer LTKM Bhd, which is diversifying into processed glass manufacturing, expects the new business to start contributing to its earnings in the next financial year ending March 31, 2012.
VW making inroads into Asean via Vietnam
FRANKFURT: Europes biggest carmaker, Volkswagen AG (VW), is eyeing the Asean market.
Maybank to drive car loans growth
SHAH ALAM: Malayan Banking Bhd (Maybank) expects to take pole position in terms of market share for motor vehicle loans within the next three years.
CIMB invests in foreign cash ATMs
KUALA LUMPUR: CIMB Bank is investing about RM4mil to set up South East Asias first foreign cash automated teller machines (ATMs) in Malaysia, says head of retail banking Peter England.
SEB in talks with Govt on sale of Bakun power
KUCHING: Sarawak Energy Bhd (SEB) has been holding regular talks with federal authorities on the purchase of power from the Bakun hydro-electric dam, said chief executive officer Torstein Dale Sjotveit.
RAM expects economy to expand 7.4% this year
KUALA LUMPUR: RAM Holdings Bhd expects the economy to expand by 7.4% this year, albeit at a moderate momentum in the second half of this year.
AIG to decide on AIA pre-IPO sale soon
HONG KONG: American International Group Inc (AIG) is expected to decide by early next week whether to enter into formal negotiations with strategic investors for its Asian life insurance business, AIA, according to sources familiar with the process.
US existing-home sales at 15-year lows
WASHINGTON: Sales of previously owned US homes took a record plunge in July to their slowest pace in 15 years, underlining the housing markets struggle to find its footing without government aid.
US investors may win more rights to influence boards
WASHINGTON: Shareholders may soon get more power to shake up corporate boardrooms in the United States after the financial crisis exposed glaring weaknesses in how companies are managed.
Dubai World eyes sale of prized assets to cut debt
DUBAI: Dubai World plans to sell its prized assets over a period of eight years to generate as much as US$19.4bil to pay off creditors burnt by its over-ambitious expansion, according to a restructuring document obtained by Reuters yesterday.
A painful holidays end for Europe
EUROPES long summer holiday still has a week to run but this years re-entry will bring with it evidence that very little progress has been made on the issues that threaten to rend the currency union and upend the global economy.
S&P cuts Ireland’s long-term credit rating
NEW YORK: Standard & Poor’s on Tuesday cut its ratings on Ireland and assigned the country a negative outlook, saying it expects Ireland to face substantially higher costs to support its ailing financial institutions.
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