Ingress eyes Asean tool and die plant
KUALA LUMPUR: Ingress Corp Bhd plans to set up a tool and die business in Asean over the next few years, says executive vice-chairman and group chief executive officer Datuk Rameli Musa……
Lynas selling bonds to fund Malaysia project
BRISBANE: Lynas, the owner of one of the few operational rare earth mines outside of China, has agreed to sell US$225mil (RM698.7mil) in convertible bonds to help fund what will be the world’s largest refinery of the minerals in Malaysia……
Europes debt woes end golden days at Siemens
MUNICH: Europes biggest engineering conglomerate Siemens posted an unexpectedly sharp fall in core profits and saw a six-quarter streak of rising orders come to an end as the eurozones debt woes hit corporate spending and investment……
AWE and Genting unit in deal worth RM120mil
SYDNEY: AWE Ltd (AWE), an Australian-based oil and gas exploration and production company, has entered a sale and purchase agreement with a subsidiary of Genting Bhd, whereby a wholly-owned subsidiary of AWE will acquire a 100% interest and operators…..
BoJ expects Japan to recover from slump
TOKYO: The Bank of Japan (BoJ) forecast the economy will contract in the current fiscal year but kept monetary policy steady, expecting that exports to emerging markets and spending for reconstruction after last year’s earthquake will help fuel…..
ILO pessimistic on global jobs
GENEVA: The International Labour Organisation (ILO) released a pessimistic report for the global jobs market in 2012, saying urgent attention is needed to create 600 million new jobs in the next 10 years……
Eurozone piles pressure on Greece
BRUSSELS: The eurozone has piled pressure on Greece, conditioning new loans on an economic overhaul and demanding banks accept far lower interest rates on replacement bonds under a massive debt writedown……
India cuts reserve requirements
MUMBAI: India has cut the cash reserve requirements for banks by 50 basis points to ease tight liquidity, signalling a policy shift towards reviving growth after nearly two years of fighting inflation……
Developer of Myanmar’s Dawei mega-project seeks funding
BANGKOK: The clay model of Myanmar’s ambitious Dawei deep-sea port and special economic zone sprawls across a long table on the 43rd floor of the headquarters of Italian-Thai Development Pcl. Glossy posters hail it as the “new global gate…..
Petroplus filing for insolvency, defaults on US$1.75bil of notes, bonds
ZURICH: Switzerland-based oil refiner Petroplus is to file for insolvency after lenders put the company on notice to pay off its debts, triggering a default on US$1.75bil of senior notes and convertible bonds……
Indonesia aims to issue project-based sukuk in H1
JAKARTA, Jan 24 (Reuters) – Indonesia plans to issue 2 trillion rupiah ($223.59 million) of project-based sukuk in the first half of this year, the finance minister said on Tuesday, after the country failed to sell the sukuk last year as investors as…..
Bangladesh to pay more for fuel oil for power
DHAKA, Jan 24 (Reuters) – Bangladesh Petroleum Corporation (BPC) has concluded talks with two suppliers to import 240,000 tonnes of fuel oil in 2012 for power generation at sharply stronger premiums, a senior company official said on Tuesday……
Indonesia’s 2012 wheat flour consumption seen up 5%-6%
Listed firms that could gain from any rise in Indonesian wheat consumption include Indofood Sukses Makmur, Singapore’s Wilmar International and Malaysia’s PPB Group……
Apple returns to form, blows Street targets away
SAN FRANCISCO (Reuters) – Apple Inc’s quarterly results blew past Wall Street’s expectations after U.S. consumers snapped up near-unprecedented numbers of iPhones and iPads, sending its shares up 8 percent into record territory……
Mixed earnings, Greece end Wall Street’s 5-day run
NEW YORK (Reuters) – Stocks edged lower on Tuesday, ending a five-day rally for the S&P 500, as talks to resolve Greece’s debt crisis hit a snag and earnings from a number of blue chips disappointed investors……
Ford marks turnaround juncture with new slogan
NEW YORK (Reuters) – A history of Ford Motor Co could be told with the succession of slogans it has used over the decades – some remembered within the company as rallying cries, some more as punch lines……
AMD expects lower revenue in weak PC market
NEW YORK (Reuters) – Advanced Micro Devices Inc forecast lower quarterly revenue as a shortage of hard drives and a shaky economy hurt PC makers, sending its shares lower in after-hours trading……
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