GLOBAL MARKETS-Stocks, euro slide on European summit doubts
NEW YORK: Global stock indexes and the euro sank on Monday on doubts that a European summit this week would move any closer to solving the region’s festering debt crisis, a pessimistic outlook that sparked a bid for safe-haven assets……
Moody’s cuts 28 Spanish banks on sovereign downgrade
NEW YORK: Moody’s Investors Service on Monday downgraded the long-term debt and deposit ratings for 28 Spanish banks and two issuer ratings, following on the heels of a cut to Spain’s sovereign rating to just above junk status earlier this month……
Facebook taps COO Sandberg to be first woman on board
SAN FRANCISCO: Facebook Inc named Chief Operating Officer Sheryl Sandberg a director on Monday, adding the first woman to a board that includes seven men……
Volatile ringgit
PETALING JAYA: Views are still mixed on the ringgit for the remainder of the year as external and domestic uncertainties continue to have an impact on the currencys performance……
New speculation on possible Affin merger and acquisition
PETALING JAYA: Speculation has surfaced yet again about a possible merger and acquisition (M&A) exercise involving the countrys second smallest banking group Affin Holdings Bhd……
KPJ Healthcare sets aside RM2bil capital expenditure to boost position
JOHOR BARU: KPJ Healthcare Bhd is allocating RM2bil in capital expenditure (capex) over the next five years to further strengthen its position in the countrys private healthcare sector……
Many throughout the globe inspired to work better after the death of selfless bus driver
MANY of you would have read the news about Wu Bin The Most Beautiful Driver in China. He was accorded a city-level funeral and bereavement for his selfless act of driving 25 passengers to safety after an iron object flew into the bus he was drivi…..
Malaysia bags four silvers, two bronzes at Cannes
PETALING JAYA: Malaysia netted four silvers and two bronzes Lions at the week-long Cannes Lions International Festival of Creativity……
Investment in paper and printing stays at RM533mil
GEORGE TOWN: The investment in the paper and printing industries in Malaysia this year is expected to be maintained at last years figure of RM533.6mil due to the global economic challenges……
Zecon vies to get contract for 250-bed specialist hospital in Cheras
KUCHING: Zecon Bhd is vying for a contract to build a 250-bed university specialist hospital in Cheras, Kuala Lumpur under the private finance initiative (PFI)……
Nasir Ali re-elected MNPA chairman
KUALA LUMPUR: Datuk Mohd Nasir Ali ( pic ), group executive director of Utusan Melayu (M) Bhd, has been re-elected chairman of the Malaysian Newspaper Publishers Association (MNPA) at its AGM held recently for an unprecedented eighth term. He has hel…..
Privasia to expand in Peninsular Malaysia
PETALING JAYA: ACE market company Privasia Technology Bhd (Privasia) hopes to expand its operations in Peninsular Malaysia……
FBM KLCI hits all-time intra-day high but ends the day flat
PETALING JAYA: Bucking regional trend, the Malaysian stock market kicked off the week on a positive note, as buying momentum picked up pace on a somewhat improved sentiment……
Positive outlook for Malaysias real estate investment trusts
KUALA LUMPUR: The outlook for Malaysias real estate investment trusts (M-REITs) continues to be positive, with plenty of room for further growth, according to speakers at the two-day REITs conference at Hotel Istana……
Top Glove unit to buy PT Agro stake for RM22mil
KUALA LUMPUR: Top Glove Corp Bhds wholly-owned sub-subsidiary, Best Advance Resources Ltd, will acquire 95% equity or 5,700 shares in PT Agro Pramata Sejahtera for RM22mil……
Apex issued with unusual market activity query
PETALING JAYA: Financial services company Apex Equity Holdings Bhd had been issued with an unusual market activity (UMA) query by the stock market regulator after its share price hit limit-up……
Telco stocks offer shelter
DESPITE offering sustainable and visible dividend distribution, telecommunications stocks are underappreciated for their high yields vs consumer peers……
Off-market trade in SP Setia shares
KUALA LUMPUR: SP Setia Bhd saw 45.198 million shares or 2.3% of its paid-up capital transacted in an off-market deal……
76mil Luster shares change hands
KUALA LUMPUR: Luster Industries Bhd saw 76.139 million shares transacted in an off-market deal……
Lower Felda Global Ventures Q1 profit
PETALING JAYA: Felda Global Ventures Holdings Bhd (FGVH)s net profit fell 87% to RM192.17mil in its first quarter ended March 31, 2012, from RM359.05mil a year earlier, on higher cost of sales and administrative expenses as well as the incurrence of…..
Kelington sees more earnings
KUALA LUMPUR: Kelington Group Bhd, which installs ultra-high purity gas and chemical infrastructure, expects contribution to earnings from recently acquired Puritech Tech Ltd in the second half of this year……
BLand sees profit in Q4 through property, gaming, hotel units
PETALING JAYA: Berjaya Land Bhd (BLand) raked in a net profit of RM58.64mil for its fourth quarter ended April 30, 2012, from a net loss of RM4.69mil a year ago……
Dijaya subsidiary to buy Johor land
PETALING JAYA: Dijaya Corp Bhds 80%-owned subsidiary, Aliran Peluang Sdn Bhd, has entered a sales and purchase agreement to buy 11 parcels of land, measuring a total of 2.4 million sq ft, or 55.07 acres, in Mukim Pulai, Johor, for a total cash consi…..
Platform to help SMEs penetrate European e-commerce sector
KUALA LUMPUR: Malaysian small and medium enterprises (SMEs) can soon penetrate the European e-commerce sector through an integrated platform provided by e-commerce and payment solutions provider Multimedia Prospect Sdn Bhd and Belgium national post s…..
Maegma seals natural gas deal with Petronas
IPOH: Maegma Steel HRC Sdn Bhd, a steel manufacturing company, has signed a gas sales agreement (GSA) with Petroliam Nasional Bhd (Petronas) for the supply of 60 million standard cu ft per day of natural gas, after a seven-year delay……
Petronas Dagangan to build warehouses, LPG terminals to maintain growth
KUALA LUMPUR: Petronas Dagangan Bhd (PetDag) would be allocating RM200mil in capital expenditure to nurture its recent downstream acquisitions, in a bid to maintain its growth momentum……
Minister urges plantation players to initiate own action plans
KUALA LUMPUR: Plantation industry players should initiate their own action plans to meet future challenges while the Government continues to assist them by identifying measures to ensure the industrys long-term resilience, said Primary Industries an…..
Land acquisitions to speed up
KUALA LUMPUR: Acquisitions of both greenfields and brownfields for oil palm and rubber plantations are expected to hasten up given continued interest to invest in plantation agriculture crops in the next decade, said Malaysian Palm Oil Council (MPOC)…..
Bernas plans to expand and allocates RM100mil for new mills, foreign joint ventures
KUALA LUMPUR: Padiberas Nasional Bhd (Bernas) has allocated RM100mil for new mills acquisition in the country and joint-venture (JV) arrangement with foreign mills for the next two years……
Experience, policy flexibility helping M’sian economy
PUTRAJAYA: Although strong external headwinds continue to dog Malaysias economy, its experience after the Asian financial crisis and relative flexibility in policy-making are factors working in its favour, according to Minister in the Prime Minister…..
Singapore May inflation slows to 5%
SINGAPORE: Singapores inflation slowed to 5% in May from a year earlier and authorities cited moderating price pressures from wages and other business costs, indicating the central bank might have room to ease monetary policy slightly in October……
Asia investment banks launch round of job cuts
HONG KONG: Investment banks and brokerages across Asia have launched a sweeping round of job cuts as Europes debt crisis and Chinas economic slowdown bite into the regions financial activity……
Greek PM to miss summit
Athens: Illness means both Greeces new prime minister and finance minister will miss an anxiously awaited summit of European leaders later this week and delayed a visit by the countrys international lenders……
Morgan Stanleys German head offers to quit
FRANKFURT: The head of Morgan Stanleys German unit has offered to step down following an uproar over emails he reportedly exchanged with a regional politician, and the bank has not yet decided whether to accept his resignation, according to two peop…..
Merkin to pay US$410mil
NEW YORK: Money manager Ezra Merkin has agreed to pay US$410mil to settle a lawsuit brought by New York state that accused Merkin of secretly steering client money to Ponzi schemer Bernard Madoff, according to New York Attorney General Eric Schneider…..
Sony, Panasonic team up on next-generation TVs
TOKYO: Struggling Japanese electronics giants Sony and Panasonic said they would team up to develop televisions with advanced technology, in a bid to claw back market share from overseas rivals……
Lennar in China Devt Bank talks for $1.7 billion capital
Lennar Corp, the third-largest U.S. homebuilder, is in talks with China Development Bank about raising $1.7 billion capital, the Wall Street Journal reported, citing people familiar with the discussions……
Nomura downgrades top three Greek banks
Nomura cut its earnings outlook for Greek banks as financial institutions face sovereign concerns, growth challenges and higher loan-loss charges, and downgraded its rating on the country’s three largest lenders……
Ocado says trade disrupted by Jubilee celebrations
LONDON: British online supermarket Ocado said trade in its third quarter was disrupted by celebrations to mark Queen Elizabeth II’s Diamond Jubilee as it posted a 4.5 percent rise in underlying first half earnings……
News Corp considering splitting into two
Rupert Murdoch’s News Corp is thinking of splitting into two companies, the Wall Street Journal reported, citing people familiar with the situation…..
German consumer morale unexpectedly improves
BERLIN: Consumer morale in Germany unexpectedly edged up going into July on improving income expectations, but worries over the euro zone crisis risk hurting consumption in the months ahead, a survey by GfK market research group showed on Tuesday……
Carpetright profit drops 76 pct on weak UK sales
Britain’s biggest floor coverings retailer Carpetright Plc’s full-year underlying profit fell by 76 percent, weighed down by weaker UK sales……
DBS Indonesia deal may dodge new bank ownership rules
SINGAPORE/JAKARTA: The gloom surrounding DBS Group’s $7.2 billion bid for Indonesia’s Bank Danamon is giving way to renewed optimism, with signals from the central bank in Jakarta on Tuesday suggesting the Singapore lender’s takeover may just scrape…..
|