STORIES TAGGED WITH

  • Commodities & Corporate  |  JULY 2, 2015 8:30 AM

    Shell proceeds with giant Gulf of Mexico field after cost cuts

    Story by
    www.reuters.com

    Royal Dutch Shell has given the green light for the development of its largest platform in the Gulf of Mexico after making steep cost cuts which made the deep water project economical despite low oil prices. The decision to pour …

     
  • Enterprise & Issues  |  JULY 2, 2015 8:00 AM

    Creating an international presence

    Story by
    [email protected]

    Starting her own line of clothing was no easy feat for former retail fashion executive Pat Liew, but she persevered and BritishIndia was born. In a recent interview with KINIBIZ, she shares some of her recent challenges as an entrepreneur and her plans to take the brand global.

     
  • Commodities  |  JULY 2, 2015 7:51 AM

    Gold drops on strong dollar, revived hopes for Greece

    Story by
    www.reuters.com

    Gold fell on Wednesday, as the dollar strengthened and hopes for progress in the Greek crisis revived after the country told international creditors Athens could accept their bailout offer if some conditions were changed. The Greek situation has failed to …

     
  • Finance & Markets  |  JULY 2, 2015 7:40 AM

    Euro dips on strong US data & renewed Greece concerns

    Story by
    www.reuters.com

    The euro fell against the US dollar on Wednesday after strong US economic data raised expectations the Federal Reserve will hike rates in September, while a combative address from Greece’s prime minister also weighed on the euro. The ADP National …

     
  • Commodities  |  JULY 2, 2015 7:34 AM

    US crude prices fall the most since April

    Story by
    www.reuters.com

    US crude prices fell 4% on Wednesday, posting their biggest daily drop since April after oil stockpiles in the United States rose for the first time in more than two months. The selloff was a jolt to crude traders and …

     
  • Markets  |  JULY 2, 2015 7:27 AM

    Wall St ends higher but Greece hopes waver

    Story by
    www.reuters.com

    US stocks closed higher on Wednesday but were down from earlier highs as energy stocks declined and Greece’s debt crisis showed no clear signs of resolution. The benchmark S&P 500’s energy sector was dragged down by the biggest slide in …

     
  • Economy  |  JULY 1, 2015 10:50 PM

    US construction spending rises to 6-1/2-year high

    Story by
    www.reuters.com

    US construction spending rose in May to its highest level in just over six and a half years as outlays increased across the board, the latest sign of momentum in the economy. Construction spending increased 0.8% to an annual rate of …

     
  • Corporate  |  JULY 1, 2015 10:39 PM

    Maybank NY to boost US loan market visibility

    Story by
    www.reuters.com

    Malayan Banking Bhd New York (Maybank NY) has hired Peter Sonza, former executive director and head of the loan markets group at Sumitomo Mitsui Banking Corp (SMBC), as head of corporate banking and loan syndication, according to an internal memo …

     
  • OTHERS  |  JULY 1, 2015 10:00 PM

    How Greece went bust

    Story by
    www.reuters.com

    It was a small room with a plain wooden table a few feet wide. The Greek Prime Minister Alexis Tsipras sat on one side, along with a translator and Angela Merkel, the German chancellor. On the other sat President Francois Hollande …

     
  • Economy  |  JULY 1, 2015 9:07 PM

    Construction sector to contribute 10%-12% to GDP

    Story by
    www.bernama.com

    The construction sector will maintain its 10% to 12% contributions to the national gross domestic product (GDP) this year, driven by the number of projects from the ministry and private sector. Works Minister Fadillah Yusof said several projects will be completed this year, including …

     
  • Economy & Featured and Exclusive  |  JULY 1, 2015 8:33 PM

    US trade rep hopes to wrap up TPPA by year-end

    Story by
    www.reuters.com

    US Trade Representative Michael Froman says he hopes to wrap up a trade deal with 11 other Pacific Rim nations soon and send it to the US Congress for approval before the end of the year. “I think the likelihood …

     
  • World Biz  |  JULY 1, 2015 8:13 PM

    Sao Paulo city council votes to ban Uber

    Story by
    www.reuters.com

    The city council of Sao Paulo, South America’s largest metropolis, votes to ban the US-based Uber ride-sharing service late Tuesday, the latest setback for the company after several countries took similar steps in recent months. City lawmakers decided 48 to …

     
  • Corporate  |  JULY 1, 2015 7:38 PM

    Innity sees up to 30% regional adex growth

    Story by
    www.bernama.com

    Innity Corp Bhd, an online media and advertising technology provider, expects its digital advertising expenditure (adex) to grow at an average of 20% to 30% year-on-year across the region. Chief executive officer Peter Phang Chee Leong said the region’s digital adex growth is slightly higher than …

     
  • Corporate  |  JULY 1, 2015 7:29 PM

    NCB reappoints Idris Kechot as Northport chairman

    Story by
    www.bernama.com

    NCB Holdings Bhd reappoints Idris Kechot as the board of directors’ chairman of its wholly-owned subsidiary Northport (Malaysia) Bhd effective today. The appointment comes after the resignation of Northport chairman and director Wan Abdul Rahman Wan Yaacob, the company said in a …

     
  • Corporate  |  JULY 1, 2015 7:25 PM

    MMC denies approaching KWAP for NCB stake

    Story by
    www.bernama.com

    MMC Corp Bhd refutes a newspaper report saying that it approached Retirement Fund Inc (KWAP) to acquire an interest in NCB Holdings Bhd. “We wish to clarify that MMC Corp did not approach KWAP to acquire its interest in NCB Holdings as published by …

     
  • Featured and Exclusive & Finance  |  JULY 1, 2015 7:19 PM

    Tsipras offers conditional OK to bailout; creditors sceptical

    Story by
    www.reuters.com

    Greek Prime Minister Alexis Tsipras has written to international creditors saying Greece could accept a bailout offer published on June 28 if several conditions were changed, but Germany said the letter had come too late and did not go far enough. …

     
  • Corporate, Economy, Markets  |  JULY 1, 2015 7:09 PM

    StanChart: Reprieve from ringgit temporary

    Story by
    [email protected]

    Although the ringgit has experienced an initial rebound following Fitch Ratings’ revision of Malaysia’s sovereign rating from “A- negative” to “A- stable”, this reprieve may be temporary, according to Standard Chartered Bank. In a report today, the bank attributed the …

     
  • Featured and Exclusive & Opinion  |  JULY 1, 2015 7:00 PM

    The future for emerging markets

    Story by
    www.project-syndicate.org

    BERKELEY – Over the past year, the global economic environment changed markedly and in unexpected ways. Energy and commodity prices plunged. Growth in China (which accounts for about 40% of global growth) fell to its lowest rate since 1996, even …

     
  • TigerTalk  |  JULY 1, 2015 6:53 PM

    Time to act on construction safety, Putrajaya

    Story by
    [email protected]

    Tiger read with great alarm yesterday that over 90% of construction sites inspected during the first five months of 2015 did not comply with safety regulations. With the construction sector being an important contributor to the nation’s GDP, something must be done about this. And soon.

     
  • Corporate, Economy, Markets  |  JULY 1, 2015 6:38 PM

    Franklin Templeton positive on Fitch rating move

    Story by
    [email protected]

    Franklin Templeton Investments expresses optimism towards Fitch Ratings’ latest revision to Malaysia’s sovereign rating from “A- negative” to “A- stable”. “We are pleased to see that our sovereign credit outlook has been upgraded to ‘stable’ by Fitch, while Standard & …

     
  • Corporate & Featured and Exclusive  |  JULY 1, 2015 6:27 PM

    CIMB books RM443.3 mil charge in MSS exercise

    Story by
    www.reuters.com

    CIMB Group Holdings Bhd, Malaysia’s second-largest lender by assets, says it will book RM443.3 million in costs from a voluntary redundancy programme in Malaysia and Indonesia. CIMB, which employs 40,000 people, has been implementing cost-cutting measures to improve efficiency after a period of …

     
  • Markets  |  JULY 1, 2015 6:10 PM

    KL shares end higher; CI up 1.25%

    Story by
    www.bernama.com

    Bursa Malaysia closed on a firm note in buoyant trading today with the benchmark index surging forward as the market reacted positively to the “stable” outlook status accorded by Fitch Ratings on the Malaysian economy. At 5pm, the FTSE Bursa Malaysia KLCI finished …

     
  • Featured and Exclusive & Finance  |  JULY 1, 2015 5:58 PM

    Greece accepts proposals but disagrees on pensions, taxes

    Story by
    www.bloomberg.com

    Greek Prime Minister Alexis Tsipras accepts creditors’ proposals as a basis for compromise to end a standoff over its bailout. In a letter to European Commission president Jean Claude Juncker, European Central Bank president Mario Draghi, and International Monetary Fund …

     
  • Markets  |  JULY 1, 2015 5:54 PM

    Ringgit ends stronger against US dollar

    Story by
    www.bernama.com

    The ringgit closed firmer against the US dollar today as the “stable” outlook by Fitch Rating Agency helped bolstered demand for the local unit. At 5pm, the local currency was quoted at 3.7480/7530 against 3.7740/7770 yesterday. Fitch affirmed Malaysia’s long-term foreign currency issuer …

     
  • Economy  |  JULY 1, 2015 5:45 PM

    Ukraine halts Russian gas imports after pricing talks fail

    Story by
    www.reuters.com

    Ukraine halted natural gas imports from Russia on Wednesday after energy officials from the two countries failed to agree on quarterly prices, state transport monopoly Ukrtransgaz says. “From today, Ukraine is not getting gas from Russia. Transit supplies are as normal,” …

     
  • Economy  |  JULY 1, 2015 5:37 PM

    China aims to become mid-developed economy by 2050

    Story by
    www.reuters.com

    China aims to graduate from its status as a developing country by the middle of this century, Chinese Premier Li Keqiang says. “China remains the world’s biggest developing country,” Li said at the Organisation for Economic Co-operation and Development. “Our …

     
  • Commodities  |  JULY 1, 2015 5:30 PM

    Rubber market ends mixed

    Story by
    www.bernama.com

    The Malaysian rubber market closed mixed today on renewed buying interest, a dealer says. He said the regional market also rebounded today in tandem with the Tokyo Commodity Exchange rubber futures on short-covering after a four-session losing streak. However, he said investors remained …

     
  • Featured and Exclusive & Finance  |  JULY 1, 2015 5:25 PM

    Greek PM Tsipras said to accept bailout – FT

    Story by
    www.bloomberg.com

    Tsipras will accept creditors’ conditions that are on the table this weekend with only a handful of minor changes, the Financial Times reported, citing a letter the prime minister sent on late Tuesday night which the newspaper obtained. — By Alan Soughley & …

     
  • Economy  |  JULY 1, 2015 5:14 PM

    S’wak to push for 20% oil royalty

    Story by
    www.bernama.com

    Sarawak will receive corporate social responsibility (CSR) contributions totalling RM450 million from Petronas for 2015 to 2019. Chief Minister Adenan Satem said this indicates that Petronas has always been a responsible and generous corporate citizen of Malaysia. He was speaking at a function …

     
  • Economy & Featured and Exclusive  |  JULY 1, 2015 5:08 PM

    Najib says govt is addressing concerns raised by Fitch

    Story by
    www.bernama.com

    The government is taking firm steps to address concerns including the country’s narrowing current account surplus and smaller external liquidity ratio as raised by Fitch Ratings Agency, says Prime Minister Najib Abdul Razak. He also assured that the government will look into the …

     
  • Economy  |  JULY 1, 2015 4:56 PM

    ‘Stable outlook a relief, gratifying to M’sia’

    Story by
    www.bernama.com

    The “stable” outlook status accorded by Fitch Ratings for the Malaysian economy is indeed a relief and gratifying to the country, says Asian Strategy & Leadership Institute and Centre of Public Policy Studies chairman Ramon Navaratnam. The US-based ratings agency affirmed the country’s …

     
  • Featured and Exclusive & Finance  |  JULY 1, 2015 4:46 PM

    Greece seeks Eurogroup, ECB support after IMF default

    Story by
    www.reuters.com

    Greece is appealing to its euro zone partners and the European Central Bank (ECB) on Wednesday to keep it afloat after defaulting on its debt to the International Monetary Fund (IMF) and losing frozen international bailout money. Athens is due …

     
  • Economy  |  JULY 1, 2015 4:32 PM

    China adopts security law to make systems ‘controllable’

    Story by
    www.reuters.com

    China’s legislature adopts sweeping national security law on Wednesday that covers everything from territorial sovereignty to measures to tighten cyber security, a move likely to rile foreign businesses. A core component of the law, passed by the standing committee of the …

     
  • Economy  |  JULY 1, 2015 4:21 PM

    ‘Improving fiscal trends augur well for credit outlook’

    Story by
    www.bernama.com

    The improving fiscal trends as indicated by Fitch Ratings augur well for Malaysia’s medium- and long-term sovereign credit outlook. Yeah Kim Leng, dean, School of Business, Malaysia University of Science and Technology, said with Fitch’s rating upgrade, all the big three global credit research …

     
  • Markets  |  JULY 1, 2015 4:13 PM

    Exchange denies Goldman shorting China’s stock market

    Story by
    www.reuters.com

    China’s Financial Futures Exchange squashes rumours that foreign investors including Goldman Sachs have been shorting Chinese stocks using index futures, the latest move by regulators to calm market anxiety following two weeks of panic selling. The deep correction in China …

     
  • Featured and Exclusive & Opinion  |  JULY 1, 2015 4:11 PM

    A new mission for the World Bank

    Story by
    www.project-syndicate.org

    WASHINGTON, DC – The Green Revolution is considered one of the great successes in the history of economic development. In the 1960s and 1970s, the creation and adoption of high-yielding cereal varieties transformed the Indian economy and saved billions of …

     
  • Corporate  |  JULY 1, 2015 4:03 PM

    MIDF: UEM Sunrise may be privatised

    Story by
    [email protected]

    UEM Sunrise Bhd, one of the master developers in Iskandar Malaysia, may be privatised, according to an analyst report by MIDF. “There is a possibility that Khazanah may privatise UEM Sunrise due to its deep valuation currently,” said MIDF in …

     
  • Markets  |  JULY 1, 2015 3:52 PM

    KL shares broadly higher at mid-afternoon

    Story by
    www.bernama.com

    Bursa Malaysia was broadly higher at mid-afternoon today helped by the overnight Fitch Ratings’ upgrade on Malaysia’s outlook. At 3.03pm, the FTSE Bursa Malaysia KLCI, increased 27.79 points to 1,734.43 points. MISC led the rise in the composite index with 3.572 points, followed …

     
  • Singapore  |  JULY 1, 2015 3:47 PM

    SDiX launches physically settled diamond exchange

    Story by
    www.bernama.com

    Singapore Diamond Investment Exchange (SDiX) announces the coming launch of the world’s first commodities exchange in physically settled diamonds here, which is targeted to go live in September 2015. Vertex Ventures Holdings, a fully-owned venture capital unit of Temasek Holdings, is an investor of SDiX. …

     
  • Corporate  |  JULY 1, 2015 3:36 PM

    ‘Broadband speed test report inaccurate’

    Story by
    www.bernama.com

    Deputy Communication and Multimedia Minister Jailani Johari dismisses information in a report released by global broadband speed test operator Ookla that the Internet speed in the country is worse than in Cambodia and Vietnam as inaccurate. He said the method of calculation used by Ookla only …

     
  • Corporate  |  JULY 1, 2015 3:27 PM

    Shell Refining in midst of settling short-term loan

    Story by
    www.bernama.com

    Shell Refining Co (Federation of Malaya) Bhd’s (SRC) is in the midst of settling its short-term loan of RM450 million by year-end. SRC had in 2010 obtained the RM450 million loan to be used as working capital. It is required to make the …

     
  • Corporate & Property  |  JULY 1, 2015 3:20 PM

    UEM Sunrise unveils RM7 bil GDV Puteri Harbour project

    Story by
    www.bernama.com

    UEM Sunrise Bhd unveils the Estuari series of residential properties, surrounding Puteri Harbour area, with a gross development value of RM7 billion. Acting chief marketing officer Zadil Hanief Mohamad Zaidi said the project’s selling point would be the different concept of residential projects over a …

     
  • Featured and Exclusive & Markets  |  JULY 1, 2015 3:14 PM

    Stocks, ringgit rally after Fitch refrains from rating cut

    Story by
    www.bloomberg.com

    Malaysian stocks rallied by the most since 2013 and the ringgit rose along with bonds after Fitch Ratings held off from cutting the nation’s credit rating. Fitch raised the outlook on its fourth-lowest investment grade of “A-” to “stable” from …

     
  • Finance  |  JULY 1, 2015 2:41 PM

    France tries to seek deal with Greece before referendum

    Story by
    www.reuters.com

    France will still try to reach a goal with Greece before a referendum on Sunday, French Finance Minister Michel Sapin says, hours before euro zone finance ministers hold their second conference call in two days to discuss Greece. “Our aim is …

     
  • Corporate  |  JULY 1, 2015 2:17 PM

    Pacific Mutual sees equity market to rebound in 2H15

    Story by
    www.bernama.com

    Investment management company Pacific Mutual Fund Bhd expects a rebound in the Malaysian equity market in the second half of this year (2H15) after a significant pullback in the second quarter of 2015. In a statement today, chief investment officer Koh Huat …

     
  • Corporate  |  JULY 1, 2015 2:06 PM

    Qatar Airways raises Doha-KL route frequency

    Story by
    www.bernama.com

    Qatar Airways will increase flight frequency to Kuala Lumpur from Doha to 24 times weekly from its current 21 times beginning July 2, 2015 until Aug 29, 2015. “This will help to fulfil busy travel demand during this summer season,” the carrier said …

     
  • Opinion  |  JULY 1, 2015 2:00 PM

    From bubbles to bridges

    Story by
    www.project-syndicate.org

    LONDON – As the season in which public companies hold their annual general meetings progresses, one persistent issue is the lack of genuine dialogue between company officials and the general public. In place of robust debate and discussion among investors, …

     
  • Commodities  |  JULY 1, 2015 1:58 PM

    KLTM ends US$380 lower at US$14,000 a tonne

    Story by
    www.bernama.com

    Higher offerings and buyers’ reserve saw the Kuala Lumpur Tin Market (KLTM) dipped to a five-year low of US$14,000 per tonne, down US$380. Most buyers were adopting a wait-and-see attitude anticipating prices to drop further, said a dealer, adding that sellers seemed desperate …

     
  • Markets  |  JULY 1, 2015 1:52 PM

    KL shares bullish at mid-day; CI soars 30.56 pts

    Story by
    www.bernama.com

    The unexpected upward revision by Fitch Ratings of Malaysia’s outlook to “stable” from “negative” prompted saw share prices to spiral across the board. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 30.56 points better at 1,737.20, after opening higher at 1,1709.77. …

     
  • Corporate & Featured and Exclusive  |  JULY 1, 2015 1:45 PM

    Berita Publishing opts out of magazine publishing

    Story by
    [email protected]

    Berita Publishing Sdn Bhd, one of the oldest publishers in the country, is opting out of the magazine publishing business, a company official says today. Sources had earlier told KINIBIZ that staff of the company’s various magazines had been laid …

     
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