• World Biz  |  MARCH 29, 2015 6:15 PM

    Chevron to exit Australian shale gas

    Story by

    Chevron Corp. abandoned Australian shale exploration and said it will sell its 50% stake in that nation’s largest oil refiner. Chevron notified Beach Energy Ltd., its partner in the central Australian shale project, that “the opportunity does not align strategically” …

  • World Biz  |  MARCH 29, 2015 2:55 PM

    Spotify in talks to add podcasts to challenge Apple ITunes

    Story by

    Spotify Ltd. has held talks with potential content partners to add podcasts to its music-streaming service, challenging Apple Inc. in a business it dominates, according to people briefed on the matter. Spotify, which hosts some podcast-like audio such as Spanish …

  • World Biz  |  MARCH 29, 2015 12:33 PM

    China should not focus on growth rate only

    Story by

    Chinese President Xi Jinping said on Saturday that the country should not focus on its economic growth rate only, reiterating China’s push for a more sustainable, higher-quality expansion. Chinese leaders have announced an economic growth target of around 7% for this year, below the …

  • World Biz  |  MARCH 29, 2015 9:48 AM

    Police arrest Grupo Galvão CEO in Petrobras probe

    Story by

    Brazilian police on Friday arrested the CEO of Grupo Galvão, the latest executive seized in a corruption probe focused on state-run oil firm Petroleo Brasileiro SA. Dario Galvão, chief executive of the construction group, and Guilherme Esteves, a lobbyist who is being investigated for funneling …

  • Commodities  |  MARCH 28, 2015 12:30 PM

    Tin price to trade between US$17,100 – US$17,200

    Story by

    The Kuala Lumpur Tin Market (KLTM) is expected to trade between US$17,100 and US$17,200 next week, supported by the continuous consumer buying, a dealer said. He said the European and Japanese traders were expected to maintain the metal’s prices at these levels as …

  • Commodities  |  MARCH 28, 2015 12:26 PM

    Short supply to drive rubber mart higher

    Story by

    The Malaysian rubber market is likely to trade higher next week amid the shortage in supply in the local market due to wintering season. The lower crude oil prices and the movements of the ringgit would also influence the local market next week. …

  • Commodities  |  MARCH 28, 2015 12:16 PM

    Gold futures to trade in a cautious mode

    Story by

    Gold futures contracts on Bursa Malaysia Derivatives are likely to trade in a cautious mode next week on concerns over the West East situation, a dealer said. He said the tensions escalated with Saudi Arabia and its allies bombing targets in Yemen. These …

  • Finance  |  MARCH 28, 2015 12:08 PM

    Ringgit to be volatile against USD

    Story by

    The ringgit is expected to be volatile against the US dollar next week amid the upbeat outlook for Malaysia’s economic fundamentals versus favourable sentiment skewed towards US economy. Several local dealers said they expected the local currency to trade between 3.65 and 3.70 …

  • Markets  |  MARCH 28, 2015 12:02 PM

    FBM KLCI to trade higher driven by USD retreat

    Story by

    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade higher next week, tracking reduced geopolitical tensions and broad commodities strength driven by US dollar retreat and positive external factors. Affin Hwang Investment Bank vice-president/head of retail research, Nazri Khan Adam …

  • World Biz  |  MARCH 28, 2015 10:45 AM

    Carney says BoE rates likely to rise

    Story by

    The Bank of England expects its next move in interest rates to be an increase not a cut despite record low inflation, Bank of England Governor Mark Carney said on Friday, underscoring his difference of view with the Bank’s chief economist. “We’re still in …

  • Editor's Picks & Featured and Exclusive  |  MARCH 28, 2015 10:00 AM

    At SP Setia, a conflicted ex-chief judge

    Story by
    [email protected]

    Can the chairman of a public-listed company rightly hold shares in another public-listed company — a direct rival at that? Common sense says no. In fact the law also says this should not be. But this scenario is exactly what …

  • World Biz  |  MARCH 28, 2015 9:35 AM

    Brazil will join China-backed Asia investment bank

    Story by

    Brazil said on Friday it had accepted China’s invitation to join its Asian Infrastructure Investment Bank (AIIB) as a founding member. “Brazil is very interested in participating in this initiative,” the office of President Dilma Rousseff said in a short statement. It said no …

  • World Biz  |  MARCH 28, 2015 9:28 AM

    US oil rig decline smallest since December

    Story by

    The number of rigs drilling for oil in the United States declined by 12 this week to 813, the smallest decline since December, oil services firm Baker Hughes said in its closely watched survey on Friday. That compares with declines of 41 and …

  • World Biz  |  MARCH 28, 2015 9:20 AM

    Citibank Argentina suspended from capital market opers

    Story by

    Argentina’s central bank said on Friday it was temporarily suspending Citibank Argentina from conducting capital market operations. The central bank said it was taking the measure due to what it called Citigroup’s deal with litigating hedge funds in the US law courts in the …

  • Economy, Featured and Exclusive, World Biz  |  MARCH 28, 2015 8:00 AM

    The banker who saved Russia’s economy

    Story by

    It was Dec 16 -- the day Russian traders would later christen Black Tuesday -- and the rouble was in a freefall.

  • Corporate & Property  |  MARCH 27, 2015 10:12 PM

    CIDB takes 32 contractors to court in 1Q 2015

    Story by

    A total of 32 contractors have been charged in court by the Construction Industry Development Board (CIDB) for various offences in the first quarter, this year.

  • Commodities & World Biz  |  MARCH 27, 2015 9:59 PM

    China’s CNOOC to boost oil output by 18%

    Story by

    China's top offshore oil producer CNOOC Ltd said on Friday its 2014 net profit rose 6.5%, beating forecasts, as cost cuts and higher output helped it offset the slide in global oil prices.

  • Economy  |  MARCH 27, 2015 9:35 PM

    ’97% of Asean roadmap touch points completed’

    Story by

    97% of the 339 touch points for the implementation of the Roadmap for an Asean Community (2009-2015) has been achieved, said Tourism and Culture Ministry secretary-general, Ong Hong Peng.

  • Corporate  |  MARCH 27, 2015 9:24 PM

    Mercury Industries seeks 70% stake in Paramount Bounty

    Story by

    Mercury Industries Bhd has proposed to acquire a 70% stake in Paramount Bounty Sdn Bhd (PBSB) for RM42 million.

  • Featured and Exclusive & World Biz  |  MARCH 27, 2015 9:08 PM

    UNHCR orders 30,000 shelters from Ikea

    Story by

    Sweden's Ikea has received its first order for temporary flat-pack refugee shelters and expects to double or triple production in the coming three years, it said on Friday.