• Corporate  |  MARCH 1, 2015 11:35 PM

    1MDB gets US$488mil profit from PetroSaudi partnership

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    1Malaysia Development Bhd (1MDB) received back its investment, in full, with a profit of US$488 million (US$1=RM3.603) when its exited from its business arrangement with PetroSaudi International in 2012. “These facts and all details related to this transaction, may be verified by reference to …

  • OTHERS  |  MARCH 1, 2015 7:08 PM

    Modi’s pro-growth budget keeps subsidies untouched

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    Prime Minister Narendra Modi delivered a pro-growth budget for the coming year, with a wider deficit projection, in an effort to boost Asia’s third-biggest economy while retaining subsidy payments for the nation’s poor. The shortfall will narrow to 3.9% of …

  • World Biz  |  MARCH 1, 2015 6:47 PM

    Abu Dhabi’s Senaat hires HSBC, JPMorgan to sell shares

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    Senaat, which owns Abu Dhabi companies including National Petroleum Construction Co. and Emirates Steel, will sell shares in one of its units this year after postponing its own initial public offering, its chairman said. The state-owned holding company is working …

  • Corporate & Featured and Exclusive  |  MARCH 1, 2015 3:27 PM

    RM2.5 bil 1MDB funds channelled to Jho Low’s firm

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    The RM2.5 billion (US$700 million) which was listed as a loan repayment from 1Malaysia Development Berhad (1MDB) to Petrosaudi International (PSI) during 1MDB’s joint venture with Petrosaudi in 2009, was actually a “front” to channel the money to a company …

  • World Biz  |  MARCH 1, 2015 1:15 PM

    Airbnb to raise funding at US$20 bil valuation

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    Airbnb Inc. is raising money from investors in a financing round that would value the room-sharing service at US$20 billion or more, people with knowledge of the deal said. Airbnb may bring in about US$1 billion in the funding, said the people, …

  • Economy & Featured and Exclusive  |  MARCH 1, 2015 9:25 AM

    M’sia, among the world’s fastest growing economies

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    Emerging markets in Asia and Africa still reign supreme: They’re at the top of global growth projections over the next two years. The world is expected to grow 3.2% in 2015 and 3.7% next year after expanding 3.3%in each of the …

  • World Biz  |  MARCH 1, 2015 8:37 AM

    Next Berkshire CEO must fight arrogance, decay

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    Warren Buffett told shareholders what they should expect from his successor without telling them who it will be. The next Berkshire CEO will need “the ability to fight off the ABCs of business decay, which are arrogance, bureaucracy and complacency,” Buffett, …

  • World Biz  |  FEBRUARY 28, 2015 11:51 PM

    Berkshire profit falls 17% to US$4.16 bil

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    Berkshire Hathaway Inc. said fourth-quarter profit slipped 17% as investment gains narrowed and underwriting results deteriorated at insurance units. Net income fell to US$4.16 billion, or US$2,529 per share, from US$4.99 billion, or US$3,035, a year earlier, Omaha, Nebraska-based Berkshire …

  • World Biz  |  FEBRUARY 28, 2015 11:33 PM

    Four factors why Berkshire Hathaway has done well

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    Warren Buffett’s latest annual letter to Berkshire Hathaway shareholders is out, and because it’s the 50th anniversary, the letter offers a little something extra. Both Buffett and his second-in-command Vice-Chairman Charlie Munger have sections about what they think thenext 50 years …

  • Opinion  |  FEBRUARY 28, 2015 10:32 PM

    Buffett, the King of Cool in the ’70s

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    In March 1971, Warren Buffett signed his name for the first time to the annual “letter to the stockholders” of Berkshire Hathaway. He’d been writing the letters since he bought the foundering New England textile manufacturer in 1965, but had been putting …

  • Corporate & Featured and Exclusive  |  FEBRUARY 28, 2015 9:48 PM

    Pump prices go up 25 sen from midnight

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    After unprecedented fall in pump prices over the past few months, petrol stations will see an increase of 25 sen for RON 95, RON 97 and diesel from midnight.

  • World Biz  |  FEBRUARY 28, 2015 11:59 AM

    Airbus posts 59% bump in 2014 profits

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    The aerospace manufacturer Airbus Group said Friday that it saw a 59% increase in profit in 2014 compared with the previous year, attributing much of the rise to the positive reception of the new fuel-efficient, long-haul A350 jet and strong demand for single-aisle aircraft. …

  • Commodities  |  FEBRUARY 28, 2015 11:55 AM

    Rubber to trade higher on higher demand

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    The Malaysian rubber market is likely to trend higher next week on anticipated higher demand for the commodity. “As more demand comes from tyre-producing China, prices are expected to be well supported. “Besides, there will be some low production for the commodity …

  • Commodities  |  FEBRUARY 28, 2015 11:51 AM

    KLTM to trade above US$18,000 a tonne

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    The Kuala Lumpur Tin Market (KLTM) isnexpected to see active trading next week with the metal hovering above US$18,000 per tonne in anticipation of strong foreign demand, a dealer said. He said the local market would continue to take the cue …

  • World Biz  |  FEBRUARY 28, 2015 10:32 AM

    Tsipras denies Greece will seek third bailout

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    Greek Prime Minister Alexis Tsipras denied on Friday that his country would have to seek a third international bailout when a four month extension to its current programme expires. In a televised speech to his cabinet, Tsipras also said the government had requested a …

  • Commodities  |  FEBRUARY 28, 2015 10:25 AM

    Gold futures on Bursa to trade cautiously

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    Gold futures contract on Bursa Malaysia Derivatives is likely to trade in a cautious mode next week amid low market participation. A dealer said investors are anticipated to adopt the wait-and-see attitude ahead of the release of several key economic data from the …

  • World Biz  |  FEBRUARY 28, 2015 10:22 AM

    Brazil unveils payroll, export tax changes to boost savings

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    Brazilian Finance Minister Joaquim Levy unveiled changes to payroll and export tax benefits on Friday that should help bolster fiscal savings, the latest measures in an austerity push aimed at improving public finances. Levy said in a news conference in Brasilia that a reduction in …

  • Finance  |  FEBRUARY 28, 2015 10:18 AM

    Ringgit to trade within a tight range

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    The ringgit is likely to see range-bound trading next with the currency moving between 3.59 and 3.60 against the US dollar in the absence of fresh leads and lack of appetite. “If there’s a genuine demand especially from fund managers in the …

  • Markets  |  FEBRUARY 28, 2015 10:15 AM

    KL shares to trend higher towards 1,850 points

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    The FTSE Bursa Malaysia KLCI (FBM KLCI), being the key benchmark for Bursa Malaysia, is likely to trend higher towards the 1,850 points resistance level next week. Head of Retail Research at Affin Hwang Investment Bank Head Nazri Khan said the accommodative Federal …

  • World Biz  |  FEBRUARY 28, 2015 10:10 AM

    Apple Watch might replace the need for car keys

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    Apple Inc’s latest product, the Apple Watch, might replace the need for car keys, CE Tim Cook told the Telegraph in an interview. The watch’s battery will last the whole day, and will not take as long to charge as an iPhone, …