• Corporate  |  APRIL 16, 2014 12:03 PM

    MAS privatisation will cost Khazanah RM1.18 bil

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    The possible privatisation of Malaysia Airlines would cost its principal shareholder, Khazanah Nasional Bhd, RM1.18 billion, assuming a 10% premium on its current share price, said Maybank Investment Bank (Maybank IB). “Further assuming that the profitable businesses are spun-off and separately listed with Khazanah …

  • Commodities  |  APRIL 16, 2014 11:58 AM

    Gold struggles below RM4,195; China demand concerns grow

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    Gold extended losses to below US$1,300 (RM4,195) an ounce on Wednesday, after sliding the most in three weeks, on technical selling and fears of slackening demand in top consumer China. The metal’s losses come despite heightened geopolitical tensions in Ukraine. Safe-haven bids for gold …

  • Corporate & Featured and Exclusive  |  APRIL 16, 2014 11:39 AM

    Police to get submachine guns from Czech Republic

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    The Royal Malaysian Police Force is buying 400 submachine guns from the Czech Republic in a deal which is valued at RM2 million at least.

  • Markets  |  APRIL 16, 2014 11:20 AM

    KL shares lower mid-morning

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    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) on Bursa Malaysia was slightly lower mid-morning weighed by weak investor appetite in the absence of any catalyst. At 11.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.17 points to 1,848.71, after opening …

  • Corporate  |  APRIL 16, 2014 11:17 AM

    AirAsia to implement Airbus Managed Inventory service

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    AirAsia has inked an agreement with Airbus to implement the Airbus Managed Inventory (AMI) service for its A320 and A330 fleets at its bases in Kuala Lumpur and Bangkok. The AMI service, which underlines Airbus’ strategy in offering customised services based on latest …

  • World Biz  |  APRIL 16, 2014 11:14 AM

    BHP raises annual iron ore estimate after quarterly gain

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    BHP Billiton Ltd, the world’s biggest mining company, raised its full-year iron ore production guidance after third-quarter output gained 23% to beat analyst expectations. Production was 49.6 million metric tons in the three months ended March 31, 2014, from 40.2 …

  • Markets  |  APRIL 16, 2014 11:00 AM

    Asian shares offer muted cheer to China growth

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    Asian share markets were mostly in the black on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. China’s economy grew 7.4% in the first quarter, from a year earlier, pipping forecasts …

  • Corporate  |  APRIL 16, 2014 10:52 AM

    AirAsia actively traded on Bursa Malaysia

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    AirAsia Bhd emerged among the most active stock this morning following its announcement to move to Kuala Lumpur International Airport 2 (klia2) by May 9, 2014. As at 10.13am, the low-cost airline’s share price rose three sen to RM2.30 with 493,300 lots changing …

  • Featured and Exclusive & World Biz  |  APRIL 16, 2014 10:50 AM

    Weibo just a half-Twitter; IPO seen fetching 18 times sales

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    Weibo Corp’s done half the job that Twitter Inc has in turning its microblogging users into earnings. That may explain why the Chinese company is seeking as little as half the valuation in its initial public offering. Weibo, owned by …

  • World Biz  |  APRIL 16, 2014 10:33 AM

    Fed should beef up low-rate vows, two officials say

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    The US Federal Reserve ought not to raise interest rates until the economy is much closer to full strength, two of the Fed’s most dovish policymakers said on Tuesday. “If you commit to keeping rates low even as the recovery is proceeding, even as …

  • Commodities  |  APRIL 16, 2014 10:23 AM

    Gold futures open lower on lack of buying momentum

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    Gold futures contract opened lower today on lack of buying momentum for the precious metal. At 9:28am, April 2014 fell five ticks to RM135.65 a gramme and May 2014 eased six ticks to RM136.10 a gramme. June 2014 and July 2014 was …

  • World Biz  |  APRIL 16, 2014 10:08 AM

    Yahoo net income, revenue down in 1Q

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    Yahoo Inc reported a net income of US$312 million for the first quarter of 2014, a 20% drop from the first quarter a year earlier, the California-based company said Tuesday. Revenue was US$1.133 billion for the first quarter, a 1% …

  • Markets  |  APRIL 16, 2014 9:59 AM

    Ringgit extends losses against US$

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    The ringgit opened lower against the US dollar this morning on lack of demand for the local unit, dealers said. At 9am, the local unit was quoted at 3.2500/2520 against the US dollar compared with Tuesday’s 3.2425/2455. Against other emerging …

  • Markets  |  APRIL 16, 2014 9:58 AM

    KL shares open higher but eases thereafter

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    Share prices on Bursa Malaysia opened slightly higher today but eased thereafter due to lack of buying momentum in the local market. At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.55 of-a-point lower at 1,853.33 after opening 0.74 of-a-point higher …

  • Markets  |  APRIL 16, 2014 9:45 AM

    Commodity currencies feel the heat as China data looms

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    Commodity currencies nursed heavy losses early on Wednesday, while the other major currencies struggled for clear direction as investors kept a nervous eye on developments in Ukraine and ahead of a slew of Chinese economic data. The market is braced …

  • Commodities  |  APRIL 16, 2014 9:41 AM

    Brent oil rises with Ukraine tension

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    Benchmark Brent oil rose slightly on Tuesday after news that Ukrainian armed forces launched military operations in the east of the country, though gains were limited by the prospect of a resumption of oil exports from Libya. Russia declared Ukraine …

  • Commodities  |  APRIL 16, 2014 9:28 AM

    Gold dives 2% on heavy stop-loss orders, technicals

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    Gold tumbled about 2 percent on Tuesday on heavy stop-loss orders placed by momentum traders as prices broke below the key 200-day moving average. Silver and platinum group metals also sold off after Monday’s rally across the board. In the …

  • Markets  |  APRIL 16, 2014 9:24 AM

    Europe shares sag as Ukraine woes, mixed updates weigh

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    European stocks sank on Tuesday, resuming last week’s sell-off as worries over escalating tension in Ukraine and weak updates by bellwethers including Nestle spooked investors. Renewed concerns over the pace of growth in China ahead of GDP figures due on …

  • Markets  |  APRIL 16, 2014 8:12 AM

    Wall St ends higher as blue chips rally

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    US stocks ended a volatile session higher on Tuesday, lifted by gains in such blue-chip names as Coca-Cola and Johnson & Johnson, though persistent weakness in momentum names limited the Nasdaq’s advance. Coke and J&J, both Dow components, climbed after …

  • Markets  |  APRIL 16, 2014 12:43 AM

    Europe stocks fall on Ukraine violence

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    European stocks declined, erasing their gains for the year, after a report that Russian troops entered towns in eastern Ukraine, and as German confidence data missed economists’ forecasts. SABMiller Plc lost 2.5% after saying it is considering options for the …