• Commodities  |  JULY 31, 2014 7:38 AM

    Oil prices tumble on ample supply, weak demand

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    Oil prices tumbled on Wednesday, with Brent leading the decline weakened by excess supplies in Europe and Asia while US crude followed suit despite a larger-than-expected drop in nationwide stockpiles. A weekly report released on Wednesday by the US Energy Information Administration showed …

  • Markets  |  JULY 31, 2014 7:33 AM

    Dollar pares gains after Fed statement shows dovish tilt

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    The US dollar pared gains against a basket of major currencies on Wednesday after a Federal Reserve statement disappointed expectations that the central bank would take a more hawkish bias on monetary policy. The Fed, in a statement following its latest two-day …

  • Markets  |  JULY 31, 2014 7:28 AM

    S&P 500, Nasdaq end up as Fed in no rush to raise rates

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    The S&P 500 and Nasdaq ended higher on Wednesday after the Federal Reserve gave a rosier assessment of the US economy while reaffirming that it is in no hurry to raise interest rates. The US central bank also, as expected, reduced its …

  • Commodities  |  JULY 31, 2014 7:22 AM

    Gold traders brush aside signs Fed in no hurry to raise rates

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    Gold futures ended lower on Wednesday, but traders largely shrugged off a statement from the Federal Reserve hinting the US central bank was in no rush to hike interest rates, which would reduce appetite for the precious metal. Spot gold maintained earlier losses and …

  • Economy, Featured and Exclusive, World Biz  |  JULY 31, 2014 7:05 AM

    Thai factory output drops 6.5%, fears of recession

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    Thai factory output fell nearly twice as much as expected in June, the latest piece of data showing that easing political tension is not yet generating a revival for the struggling economy.

  • Featured and Exclusive & World Biz  |  JULY 30, 2014 10:01 PM

    Airbus 1H results improves, allays fears on cancellations

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    Airbus Group moved to allay concerns over a wave of order cancellations on Wednesday, sparking a rally in its shares helped by better than expected half-year results.

  • Featured and Exclusive & World Biz  |  JULY 30, 2014 9:29 PM

    Siam Cement 2Q profit falls 14%, weak domestic demand

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    Siam Cement Pcl, Thailand's largest industrial conglomerate, reported a 14% drop in 2Q net profit on Wednesday, hit by weak domestic cement demand and lower chemical earnings after months of political unrest.

  • Corporate, Featured and Exclusive, World Biz  |  JULY 30, 2014 8:53 PM

    Europe leads the way in Crocs revival

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    The success of Crocs Inc in Europe, where the U.S. shoemaker has focused on its trademark colourful foam clogs rather than branching into other products, proves the brand has a future despite difficulties at home, its European head said.

  • Corporate & World Biz  |  JULY 30, 2014 8:12 PM

    Sumitomo reports 20% drop in 1Q profit

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    Sumitomo Mitsui Financial Group Inc (SMFG) reported a 20% decline in quarterly profit as gains in the value of stock holdings paled in comparison with the year prior, when prices rose after government promises of economic growth.

  • World Biz  |  JULY 30, 2014 6:52 PM

    New Jollibee CEO to double earnings in 5 years

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    Jollibee Foods Corp, which outsells McDonald’s Corp in the Philippines, plans to double earnings in five years as it accelerates its expansion in China and seeks an acquisition in the US. The fast-food company has more than 400 stores in …

  • Markets  |  JULY 30, 2014 6:51 PM

    KL shares ends marginally higher in quiet trading

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    Share prices on Bursa Malaysia closed higher today in a quiet trading as investors were still away for an extended Hari Raya Aidilfitri break, said a dealer.

  • Commodities & World Biz  |  JULY 30, 2014 6:42 PM

    Vedanta 1Q profits hit by Zambia operations

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    Lower zinc production and a decline in Zambian copper output weighed on Vedanta Resources Plc's core quarterly earnings, sending the miner's shares down more than 3%.

  • Finance  |  JULY 30, 2014 6:41 PM

    Bitcoin transactions face test at EU’s highest court

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    Tax-free trading of bitcoin faces a legal test at the European Union’s top court after Swedish authorities sought to extend existing levies to virtual currencies. The EU Court of Justice must decide if transactions between virtual and traditional currencies can …

  • Featured and Exclusive & Finance  |  JULY 30, 2014 6:36 PM

    Trust clampdown opens shadow banking to brokerages

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    As increased regulatory oversight curbs the growth of China’s trust companies, securities firms are seizing the opportunity to boost their share of the shadow-banking pie. The value of assets managed by brokerages surged 43 times in the last two years …

  • Finance  |  JULY 30, 2014 6:28 PM

    European banks ease lending rules for first time since 2007

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    Euro-area banks relaxed their lending standards for the first time since the second quarter of 2007, in a further sign of a recovery in credit. The European Central Bank’s quarterly bank lending survey showed that banks made it easier for …

  • Corporate, Featured and Exclusive, World Biz  |  JULY 30, 2014 6:23 PM

    BAT reports lower profits due to strong British pound

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    British American Tobacco reported lower revenue and profit for the six months ended June 30, hurt by the strong British pound and a slight decline in volume.

  • World Biz  |  JULY 30, 2014 6:22 PM

    SIA profit falls on slow travel demand, Tiger Air’s losses

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    Singapore Airlines Ltd (SIA), Asia’s second-largest carrier by market value, said first-quarter profit fell after ticket prices declined and a low-fare carrier affiliate posted losses. Net income in the three months ended June was S$34.8 million (RM88.98 million), compared with …

  • Commodities & OTHERS  |  JULY 30, 2014 5:58 PM

    Rubber market rebounds to end marginally higher

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    The Malaysian rubber market rebounded to close marginally higher today, lifted by buying support for the commodity, a dealer said.

  • Markets  |  JULY 30, 2014 5:51 PM

    Ringgit ends easier against US dollar

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    The ringgit closed easier against the rejuvenated US dollar today as it attracted demand at the start of the trading day this week, a currency trader said.

  • Featured and Exclusive & World Biz  |  JULY 30, 2014 5:46 PM

    Amazon to invest RM6.4 bil in India’s e-commerce sector

    Story by Inc on Wednesday said it will invest a further US$2 billion (RM6.4 billion) in India just a day after the country's largest e-tailer Flipkart attracted US$1 billion of fresh funds, raising the stakes in a nascent but fast-growing e-commerce sector.