Samsung unveils iPad competitor Galaxy
BERLIN: Samsung Electronics Co. unveiled a new tablet PC named Galaxy Tab as the latest device meant to rival Apple Inc.’s popular iPad.
Xstrata reaches deal on US$4.2 bln Peru copper mine
LIMA, Peru: Peru’s government and Anglo-Swiss miner Xstrata signed a deal Thursday under which the company will spend $4.2 billion to develop the Las Bambas copper mine, in what President Alan Garcia called the “contract of the century.”
Oil prices rise after mixed economic news
NEW YORK: Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.
Asian and US stocks rise on improving US data(update)
TOKYO: Most Asian stock markets climbed Friday as investors took heart from improving U.S. housing and jobs data amid lingering worries over the pace of the global economic recovery.
Facebook’s new security feature: remote logouts
NEW YORK: Facebook is rolling out a new security feature that lets users log out of their accounts remotely from another computer.
The US$2bil showdown between two of the world’s biggest technology companies
SAN FRANCISCO: The showdown over 3Par Inc. that ended Thursday was a puzzling spectacle. It pitted two of the world’s biggest technology companies against each other for control of a company that was obscure outside of technology circles and flat-out unloved on Wall Street, with a stock that was stuck around US$10 for a year and a half.
General Motors plans to sell shares on Nov. 18
DETROIT: General Motors plans to start trading shares again on Nov. 18, timing that allows the company one more quarter of earnings to build its case to investors, a firm that researches initial public offerings said Thursday.
Another oil platform explodes in Gulf of Mexico off US
Analysts see new high for Malaysia’s main market index
PETALING JAYA: With four months to go before 2010 ends, a number of brokerages have unveiled their 2011 year-end targets for FTSE Bursa Malaysia KL Composite Index (FBM KLCI).
Nine M’sian firms make it to Forbes’ Best under a Billion
SINGAPORE: Nine Malaysian companies made it to the Forbes Asia’s Best under a Billion list this year compared with eight companies last year, according to Forbes Asia.
Overnight policy rate remains unchanged
KUALA LUMPUR: Bank Negara has kept the overnight policy rate (OPR) unchanged at 2.75% after its monetary policy committee (MPC) meeting yesterday.
Genting chairman sells shares
KUALA LUMPUR: Genting Bhd chairman and chief executive Tan Sri Lim Kok Thay has disposed of 269,000 and 260,000 shares in Genting Bhd and Genting Malaysia Bhd respectively.
What must chairmen of companies do?
IN my last article I wondered whether we are setting impossibly high standards for independent non-executive directors. The same applies to independent non-executive chairmen who have three distinct roles to play.
UMW to beef up O&G division
SHAH ALAM: UMW Holdings Bhd is looking at consolidating its oil and gas (O&G) division and may consider mergers and acquisitions again only after a year or so, according to president and group chief executive officer Datuk Abdul Halim Harun.
DRB-HICOM to raise volume of auto production in Pekan
KUALA LUMPUR: DRB-HICOM Bhd, which inked a joint-venture agreement with a UK company on Wednesday to make sports cars in Malaysia, is moving towards adding more volume to its automotive complex in Pekan, Pahang.
PPB plans flour mill expansion
KUALA LUMPUR: PPB Group Bhd, whose main businesses include flour and feed milling as well as consumer products distribution, is planning an expansion of the companys flour-milling operations in Indonesia and Vietnam.
ARREIT assets set to hit RM1.8bil next year
KUALA LUMPUR: Amanah Raya Real Estate Investment Trust (ARREIT), Malaysias fourth largest real estate investment trust (REIT), expects its assets to grow to RM1.8bil next year with its planned acquisition of more assets.
Panasonic unveils new 3D HDTVs
PETALING JAYA: Panasonic Malaysia Sdn Bhd aims to sell 1,500 units of its newly launched Viera series 3D full high-definition (HD) plasma televisions by the end of its current fiscal year ending March 2011, a company spokesman said.
Clarification
With reference to the article Bank Loan Price War that appeared on Wednesday, Hong Leong Bank Bhd clarified that its mortgage rate is base lending rate (BLR) minus 1.8% to minus 2.2%, depending on the loan taken and not BLR minus 2.3%.
Kenmark and Evermaster to remain suspended
KUALA LUMPUR: Trading suspension on Kenmark Industrial Co (M) Bhd and Evermaster Group Bhd shares will continue as they have failed to submit their quarterly reports for the financial period ended June 30, Bursa Securities said yesterday.
Mangotone wont appeal delisting
PETALING JAYA: Mangotone Group Bhd has decided not to appeal against Bursa Securities decision to de-list its shares on Sept 8, it told the exchange yesterday.
AIG files for AIAs listing in HK
HONG KONG: American International Group Inc (AIG) has filed an application with the Hong Kong Stock Exchange seeking approval to list its Asian life insurance business AIA Group Ltd, a source familiar with the matter told Reuters yesterday.
Asia Bioenergy to place shares
PETALING JAYA: Technology incubator Asia Bioenergy Technologies Bhd (ABT) has proposed to issue up to 118 million new 10 sen shares, representing up to 30% of the companys enlarged paid-up share capital, to third party investors at an issue price to be determined after getting all relevant approvals.
GM IPO roadshow after US elections
NEW YORK: US automaker General Motors Co plans to begin courting investors for its initial public offering immediately after the Nov 2 US mid-term congressional elections, two sources familiar with the plans said on Wednesday.
Possible mortgage cap on property not a concern
KUALA LUMPUR: Preemptive measures to curb purchases in certain property segments may yield temporary results as buoyant consumer sentiment and demand for good locations are expected to sustain.
SunCity to raise stake in Sunway Lagoon
KUALA LUMPUR: Sunway City Bhd (SunCity) plans to acquire 45% stake in Sunway Lagoon Sdn Bhd for RM128.6mil cash.
FSBM to sell, land office for RM51m
KUALA LUMPUR: FSBM Holdings Bhd plans to dispose of a piece of freehold land with a five-storey office building in Cyberjaya, known as FSBM Plaza, to AmFirst Real Estate Investment Trust for RM51.5mil.
Exports data show more sustainable growth rate
PETALING JAYA: Malaysias exports declined for a fourth month in July, with the latest data from the Statistics Department released yesterday showing exports grew 13.5% to RM55.43bil from a year ago.
Takaful operators need to up their game
PETALING JAYA: Existing takaful operators will have to up their game and gear up for stiffer competition as the granting of four new licences by Bank Negara on Wednesday will see more players fighting for a share of the profit slice.
AMMB wont sacrifice property loan margins
KUALA LUMPUR: AMMB Holdings Bhd will not sacrifice its property loan margins for the sake of gaining market share, said group managing director Cheah Tek Kuang.
Sale of Carrefour may interest Competition Commission
PETALING JAYA: The sale of hypermarket Carrefours Malaysian outlets may be closely watched by the soon-to-be-formed Malaysian Competition Commission, according to lawyers familiar with the new Competition Act.
MAE signs pact with Air Mauritius
KUALA LUMPUR: Malaysia Airlines unit, MAS Aerospace Engineering Sdn Bhd (MAE), has signed a one-year agreement with Air Mauritius for the maintenance of eight aircraft six Airbus 340-200s and two Airbus 330-200s.
Scomi unit opens plant in Norway
PETALING JAYA: Scomi Group Bhds Norwegian subsidiary Scomi Oiltools AS has officially opened its drilling waste treatment plant in Sandnessjoen, Norway.
Mudajaya names non-exec chairman
PETALING JAYA: Mudajaya Group Bhd has appointed Asgari Mohd Stephens as its non-executive chairman effective Aug 30.
WTO chief: World past crisis
PARIS: Trade data show that the world has emerged from the global economic crisis even though the rate of recovery varies from region to region, the head of the World Trade Organisation said yesterday.
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