• Markets & World Biz  |  APRIL 18, 2014 10:05 AM

    Yen slips to 10-day lows on easing fears

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    The yen slipped to 10-day lows against the dollar on Friday after speculators unwound some safe-haven trades following upbeat U.S. economic data and on hopes for a diplomatic initiative seeking an end to violence in Ukraine. The dollar traded at 102.43 yen, and has …

  • Commodities  |  APRIL 18, 2014 10:00 AM

    Lack of buying interest for gold, say dealers

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    Gold futures contracts opened untraded this morning on lack of buying interest for the precious metal, dealers said. At 9.30am, April 2014 was untraded and pegged at RM135.25 a gramme. May 2014, June 2014 and July 2014 were also untraded and …

  • Corporate  |  APRIL 18, 2014 9:47 AM

    Taiwan’s KKBOX eyes Msian prepaid user segment

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    KKBOX, Taiwan’s digital music provider, is gearing up to penetrate the prepaid user segment with the introduction of its music library applications (apps). Chief Executive Officer, Chris Lin, said the company has focused on the prepaid user segment in Malaysia as it …

  • Markets  |  APRIL 18, 2014 9:41 AM

    Ringgit opens lower against US Dollar

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    The ringgit opened lower against the US dollar today on inadequate buying support, dealers said. At 9am, the local unit was quoted at 3.2380/2400 against the US dollar compared with Thurday’s 3.2370/2390. The dealer said the ringgit was higher against a basket …

  • Markets  |  APRIL 18, 2014 9:39 AM

    Bursa Malaysia opens weaker

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      Trading on Bursa Malaysia was weaker in early session today, weighed down by losses led by the finance index. At 9.13am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.71 points easier at 1,847.83 after opening 1.84 points lower at …

  • World Biz  |  APRIL 18, 2014 8:50 AM

    Sony’s PS4 outsold Microsoft’s Xbox One again

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    Sony Corp.’s PlayStation 4 outsold Microsoft Corp.’s Xbox One game console in the U.S. in March, holding the lead for a third month, as its rival tempted consumers with discounts and a popular new game. Sony fended off the hot-selling …

  • Corporate & Featured and Exclusive  |  APRIL 18, 2014 8:35 AM

    Khazanah’s Turkey investments grow in value

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    The current market value of Khazanah Nasional Bhd’s investments in Turkey has appreciated to more than US$2.0 billion from the original US$1.4 billion (US$1.00=RM3.23) investments, thanks to strong bilateral and commercial relations between Malaysia and Turkey. These investments, made since May 2008, have …

  • Markets  |  APRIL 18, 2014 8:09 AM

    Yen slips with Ukraine worries; pound hits 4-1/2-year high

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    The yen fell on Thursday as efforts toward finding a diplomatic solution to ending violence in eastern Ukraine prompted traders to trim safe-haven yen holdings ahead of the Easter holiday weekend. Trading volumes faded before an extended weekend in the …

  • Commodities  |  APRIL 18, 2014 8:04 AM

    Platinum drops as S.African wage offer eases supply fears

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    Platinum prices fell to their lowest level in more than two weeks on Thursday after South Africa’s biggest platinum producers offered to raise wages for miners in a bid to end a 13-week-old strike that has curbed output. Anglo American …

  • Commodities  |  APRIL 18, 2014 7:48 AM

    Brent oil falls as Ukraine, Russia seek to end violence

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    Brent crude oil fell on Thursday, stalling below US$100 a barrel after the United States, Russia, Ukraine and the European Union jointly called for an end to the violence in Ukraine, taking some risk premium out of the market, while …

  • Markets  |  APRIL 18, 2014 7:44 AM

    European shares end higher on upbeat US company results

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    European equities finished higher on Thursday after losing ground earlier in the session, with upbeat results from major US companies like MorganStanley, Goldman Sachs and General Electric improving sentiment. Morgan Stanley reported a 55% jump in first-quarter earnings, General Electric …

  • Markets  |  APRIL 18, 2014 7:07 AM

    S&P 500 scores biggest weekly percentage gain since July

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    US stocks ended a holiday-shortened week with mostly modest gains on Thursday, though the S&P 500 notched its biggest weekly advance since Julyas Morgan Stanley and General Electric rallied after strong results. The two were the latest to post earnings …

  • Economy & Featured and Exclusive  |  APRIL 17, 2014 11:01 PM

    Malaysia and Turkey sign FTA

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    Malaysia and Turkey have entered into a bilateral Free Trade Agreement (FTA) today in Ankara, Turkey. Minister of International Trade and Industry Mustapa Mohamad signed the agreement on behalf of the Malaysian government, witnessed by the PM Najib Abdul Razak.

  • World Biz  |  APRIL 17, 2014 10:59 PM

    General Electric posts profit increase for industrial biz

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    General Electric posted a 12% increase in industrial profits Thursday, as its jet engine, gas turbine and oil industry segments offset losses in healthcare and mining. “The environment was generally positive, and we executed on our operational priorities with strong …

  • World Biz  |  APRIL 17, 2014 10:20 PM

    Morgan Stanley posts 55% rise in quarterly profits

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    US investment bank Morgan Stanley on Thursday reported a rise in first quarter profits of 55% compared to the same period in 2013. Profits hit US$1.45 billion, beating analysts expectations anddemonstrating Morgan Stanley’s ability to weather inclement market conditions. All …

  • World Biz  |  APRIL 17, 2014 9:44 PM

    Mattel posts quarterly loss as Barbie sales plummet

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    Mattel Inc, the world’s largest toymaker, reported a net loss for the first quarter due to a fall in sales of its iconic Barbie dolls and Fisher-Price toys for preschoolers. Worldwide sales of Barbie fell 14% in the quarter ended …

  • World Biz  |  APRIL 17, 2014 9:39 PM

    China Resources chair under investigation by anti-graft body

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    The chairman of state-owned China Resources Holding Co. Ltd., a holding company for a group of businesses in Hong Kong and mainland China, is being investigated for violating party discipline, China’s top anti-graft body said on Thursday. The announcement on …

  • World Biz  |  APRIL 17, 2014 9:32 PM

    Goldman Sachs profit falls 11% but beats estimates

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    Goldman Sachs Group Inc reported an 11% drop in first-quarter profit on Thursday as client activity remained constrained and fixed-income revenue shrank. The Wall Street bank said its net income fell to US$1.95 billion, or US$4.02 per share, in the …

  • Issues  |  APRIL 17, 2014 9:00 PM

    RM20 billion extra value by breaking up


    The disadvantages of Sime Darby’s current conglomerate structure outweigh the benefits — if any. Breaking it up, even if it is hard to do, is a much better path forward for the group, especially as such an exercise could boost the group’s value by some RM20 billion almost immediately.

  • Corporate  |  APRIL 17, 2014 8:38 PM

    RGB Int’l's unit ends sale and purchase agreement

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    Macrocept Sdn Bhd (MCSB) and Diplomat Technology Co Ltd have mutually agreed to terminate the sale and purchase agreement for a share transfer. The share transfer involved an amount of 115,200 ordinary shares in a Cambodian-based casino, Chateau De Bavet …