• Opinion  |  JULY 28, 2014 12:00 AM

    We must not forget the villages

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    Villages all over the world, including in Malaysia undergo similar development cycles. Urbanisation and access to better education has led to many young people leaving the villages for life in towns. EPU’s latest data shows that more than 70% of …

  • World Biz  |  JULY 27, 2014 10:57 PM

    McDonald’s food supplier recalls Shanghai products

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    OSI Group LLC, a meat supplier to McDonald’s Corp., said it would recall all products made by its Shanghai plant. “To help rebuild the trust of our customers and consumers, as well as to cooperate with the official investigatory process, …

  • Commodities  |  JULY 27, 2014 10:39 PM

    S’pore set to get LNG cargo from Indonesia

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    Singapore LNG Corp., which operates the Asian city-state’s first receiving terminal, is set to get a liquefied natural gas cargo for its third tank delivered tomorrow by the vessel Wilpride. “We confirm that the Singapore LNG Terminal will be receiving …

  • Economy  |  JULY 27, 2014 8:11 PM

    Investors pin growth hopes on US and China

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    With the prospect of stiffer sanctions against Russia rattling confidence inEurope, investors will be looking to the United States and China to underpin the global economy. Wednesday’s US gross domestic product (GDP) reading and jobs data on Friday will help markets to judge the …

  • World Biz  |  JULY 27, 2014 7:59 PM

    Dubai stocks increase most led by Emaar

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    Shares in Dubai ended a three-day losing streak, led by gains in Emaar Properties PJSC amid bets the developer’s second quarter earnings will exceed investor expectations. Stocks in Qatar fell. The DFM General Index advanced 1.7% to 4,728.43, the biggest …

  • World Biz  |  JULY 27, 2014 4:46 PM

    Arabtec declines as second-profit misses estimates

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    Arabtec Holding PJSC, the builder that helped drive Dubai’s stock index into a bear market last month, plunged after reporting second-quarter profit that missed analysts’ estimates. The shares dropped as much as 6.5% before trimming losses to 2.3% at 11.13am …

  • World Biz  |  JULY 27, 2014 3:22 PM

    Hong Kong’s de facto central bank bought US$690mil

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    Hong Kong’s de facto central bank bought US$690 million on July 25 to defend the city’s 31-year-old peg to the greenback as it expects demand for the local currency to continue. “Having regard to the on-going listings, mergers and acquisitions, …

  • Commodities  |  JULY 27, 2014 2:23 PM

    Best mining debt defies gold woe

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    Newcrest Mining Ltd. bonds are delivering the best returns this year among metal producers even as the gold miner prepares for new write downs at a floundering asset inside an extinct volcano. Debt securities issued by Australia’s biggest gold producer …

  • World Biz  |  JULY 26, 2014 10:10 PM

    Google triples deal spending to US$4.2bil in 2014 first half

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    Google Inc. more than tripled spending on acquisitions in the first half of the year to US$4.2 billion, as the Internet company ramps up investments to expand its services. The world’s largest online advertiser spent US$3.2 billion for thermostat company …

  • World Biz  |  JULY 26, 2014 10:00 PM

    Russia to Kazakhstan central banks boosted gold reserves

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    Central banks for Russia to Kazakhstan and Mexico increased gold reserves as Germany trimmed its holdings, International Monetary Fund data show. Kyrgyzstan, Tajikistan, Serbia, Greece and Equador also showed higher gold reserves for June, according to figures published today on …

  • World Biz  |  JULY 26, 2014 9:46 PM

    Deutsche Bank, HSBC sued for silver fix manipulation

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    Deutsche Bank AG, HSBC Holdings Plc and Bank of Nova Scotia were accused in a lawsuit of rigging the price of billions of dollars in silver, an allegation similar to earlier suits involving the London gold fix. The banks unlawfully …

  • Finance  |  JULY 26, 2014 9:34 PM

    Pound drops the most in four months

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    The pound declined the most in four months against the dollar this week as a rally that made it the best-performing currency in the past year was deemed to be losing momentum. Sterling fell below US$1.70 for the first time …

  • World Biz  |  JULY 26, 2014 9:21 PM

    Goldman Sachs downgrades stocks to neutral

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    Goldman Sachs downgraded its global allocation to equities to neutral on a short-term basis on Friday, even though the brokerage remains overweight stocks for the longer term, it said in a research note. The firm said it is worried that a rise in rates will drive stocks lower over the next three …

  • Markets  |  JULY 26, 2014 12:16 PM

    FBM KLCI to move between 1,860 and 1880 points

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    The FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to move between 1,860 and 1,880 points next week as the improving global economic conditions are unlikely to lift investor confidence. Affin Investment Bank Vice-President and Head of Retail Research, Dr Nazri Khan, said …

  • Markets  |  JULY 26, 2014 11:17 AM

    Ringgit to hold firm around 3.17 level

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    The ringgit is likely to hold firm around 3.17 next week on extended slide of the US dollar, dealers said. A dealer said there would be a chance of a stronger upside if the local economic data were to further improve. “There …

  • Commodities  |  JULY 26, 2014 11:04 AM

    Tin prices to trade between US$22,300 and US$22,400

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    The tin price on the Kuala Lumpur Tin Market (KLTM) is expected to trade between US$22,300 and US$22,400 next week on good consumer demand, a dealer said. He said consumer buying support would most likely come from the Japanese and European traders. “The …

  • Commodities  |  JULY 26, 2014 10:54 AM

    Rubber prices is expected to be quiet

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    The Malaysian rubber market is expected to be quiet next week in the absence of traders during the Hari Raya holidays, a dealer said. He said the market would be closed on Monday and Tuesday and was likely to remain quiet for the …

  • Commodities  |  JULY 26, 2014 10:47 AM

    Gold futures likely to be volatile

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    Gold futures contracts on Bursa Malaysia derivatives are expected to be volatile next week. Phillip Futures Sdn Bhd dealer, Low Cheng Yang, said that the domestic gold futures would also be on the receiving end of the US non-farm payroll and unemployment reports, …

  • Finance  |  JULY 25, 2014 10:07 PM

    China to launch three pilot private banks

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    China has formally approved three private banks to launch pilot lending projects as part of a package of financial reforms, the government said on Friday. The three banks will be operated by groups of private companies in the economically developed …

  • World Biz  |  JULY 25, 2014 9:29 PM

    Herbalife hires PepsiCo exec for new public-policy role

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    Herbalife Ltd., the nutrition company being investigated by the Federal Trade Commission over allegations that it’s a pyramid scheme, hired a PepsiCo Inc. executive to take on a newly created public-affairs job. Alan Hoffman, a former aide to US Vice …