• Corporate  |  APRIL 24, 2014 2:33 PM

    Maybank bags two corporate responsibility awards

    Story by

    Malayan Banking Bhd (Maybank) bagged the Best Sustainability Report award at the Asean Corporate Sustainability Awards 2014 held in Manila, the Philippines recently. This is alongside the Platinum award for Excellence in Provision of Literacy & Education at the Global CSR Awards 2014 …

  • Corporate  |  APRIL 24, 2014 2:29 PM

    RAM reaffirms AA1/stable ratings on YTL Corp

    Story by

    RAM Ratings has reaffirmed the AA1/stable ratings of YTL Corp Bhd’s RM500 million Medium Term Note (MTN) programme and MTN programme of up to RM2 billion. In a statement today, RAM Ratings said the ratings were reflective of YTL Corp’s diversified income, given …

  • Corporate & Finance  |  APRIL 24, 2014 2:22 PM

    Ringgit to trend lower by year-end

    Story by

    The ringgit is expected to trade lower towards the year-end due to the outflow of emerging currencies, including the local unit, to the United States and Europe following the economic improvement in both countries, says Malaysian Institute of Economic Research (MIER). Executive director …

  • Corporate  |  APRIL 24, 2014 1:37 PM

    Genting pays RM3.2 mil to join NY gaming selection

    Story by
    [email protected]

    Genting Malaysia Bhd is now part of the selection process for a gaming facility in New York after paying an application fee of US$1 million (RM3.26 million) to the New York State Gaming Commission. In a regulatory filing, Genting Malaysia …

  • World Biz  |  APRIL 24, 2014 1:31 PM

    Hyundai profit misses estimates

    Story by

    Hyundai Motor Co reported profit that missed analysts’ estimates, illustrating how Asia’s fastest-appreciating currency in the past year threatens to set back corporate earnings for exporters. The shares fell. Net income dropped 0.9% to 1.93 trillion won (RM6.1 billion) in …

  • Markets  |  APRIL 24, 2014 1:15 PM

    KL shares extend losses at mid-day, CI down 1.31 points

    Story by

    Shares on Bursa Malaysia continued their downtrend at mid-day today with the FTSE Bursa Malaysia KLCI (FBM KLCI)at 1,866.04, down 1.31 points. The benchmark index had hovered between 1,863.51 points and 1,866.25 points during the morning session. Hong Leong Investment Bank Research said …

  • Markets  |  APRIL 24, 2014 1:09 PM

    Asian stocks drop, US home sales unexpectedly plunge

    Story by

    Asian stocks fell after an unexpected drop in US home sales signaled a housing recover in the world’s largest economy is running out of steam, while investors weighed better-than-estimated earnings from Apple Inc and Facebook Inc. Toyota Motor Corp, the …

  • Commodities  |  APRIL 24, 2014 12:59 PM

    KLTM up to US$23,640 per tonne at close

    Story by

    The Kuala Lumpur Tin Market (KLTM) closed US$60 higher at US$23,640 a tonne today, lifted by scattered buying from Japanese traders, a dealer said. He said some traders, however, withdrew when the price rose, limiting the upside on the KLTM, despite the London …

  • Featured and Exclusive & Opinion  |  APRIL 24, 2014 12:52 PM

    An introduction to World Cup economics

    Story by

    For hundreds of millions of people across the planet, soccer is the sport that matters most, and the World Cup, contested every four years, is the greatest sporting event, bar none. Yes, there’s the Olympics, if you insist — but that …

  • World Biz  |  APRIL 24, 2014 12:35 PM

    Brazil’s top court clears way for Petrobras inquiry

    Story by

    Brazil’s Supreme Court upheld late on Wednesday an opposition request for a congressional inquiry into alleged corruption at state-run oil company Petroleo Brasileiro SA, a ruling that could upset president Dilma Rousseff’s re-election plans. The investigation into the country’s biggest company, known as Petrobras, will …

  • World Biz  |  APRIL 24, 2014 12:27 PM

    Apple CEO defies skeptics with sales surge, boosts buyback

    Story by

    Apple Inc chief executive officer Tim Cook just bought himself more time to prove doubters wrong over the company’s growth prospects. Cook yesterday took dual steps to reassure investors who have raised questions about whether the company’s most robust gains …

  • World Biz  |  APRIL 24, 2014 12:01 PM

    Toyota axes iQ production in Europe

    Story by

    Toyota’s ingenious iQ microcar is being axed in Europe but will continue to be sold in North America and Japan, the company has announced. The final Europe-bound examples of the two-door runabout will be turned out at the Takaoka plant in Japan in …

  • World Biz  |  APRIL 24, 2014 11:52 AM

    Goldman backs case for holding commodities

    Story by

    Goldman Sachs Group Inc said that the case for holding commodities in a portfolio remains strong, bolstering the rationale for investments in oil and metals even as other banks scale back their presence. Commodities still offer a way to diversify …

  • Markets  |  APRIL 24, 2014 11:29 AM

    Share prices edge lower on banking counter losses

    Story by

    Share prices on Bursa Malaysia continued to edge lower at mid-morning today due to losses in banking counters. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.44 points to 1,864.91 points as at 11.03am. The banking sector heavyweights struggled the most, …

  • Commodities  |  APRIL 24, 2014 10:55 AM

    Gold futures opens lower

    Story by

    Gold futures contract opened lower this morning amid the rebound in equities, dealers said. At 9:35am, only two months were traded. April 2014 eased five ticks to RM135.10 a gramme and May fell seven ticks to RM135.35 a gramme. June 2014 was …

  • Markets  |  APRIL 24, 2014 10:53 AM

    Ringgit opens higher against US dollar

    Story by

    The ringgit opened higher against the US dollar on continued buying demand, dealers said. At 9am, the local unit was quoted at 3.2600/2620 against a US dollar from yesterday’s 3.2645/2665. A dealer said the ringgit was higher against major currencies. The ringgit …

  • Opinion & World Biz  |  APRIL 24, 2014 10:44 AM

    The Economic Monster Called Deflation

    Story by

    (This is the second in a three-part series.) In part one of this series, I wrote about the deflation specter that is haunting Europe. Central bankers are so fearful of deflation that they want an inflationary cushion to prevent an economic shock or geopolitical …

  • Markets  |  APRIL 24, 2014 9:57 AM

    Losses in heavyweights weigh on KL shares

    Story by

    Share prices on Bursa Malaysia opened lower prompted by losses in heavyweights, dealers said. At 9:23am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.11 points lower at 1,865.24 after opening 3.06 points easier at 1,864.29. The banking sector heavyweights, in particular, …

  • Featured and Exclusive  |  APRIL 24, 2014 9:51 AM

    Facebook profits triple as revenues climb

    Story by

    Facebook posted a 72% rise in first-quarter revenue Wednesday as its base of active users continued to grow. The social networking giant said it earned US$642 million (RM2.07 billion) in the quarter, up from US$219 million a year earlier. Revenue …

  • World Biz  |  APRIL 24, 2014 9:47 AM

    Apple revenue and profit creep up

    Story by

    Apple posted a modest rise in second-quarter revenue and profits Wednesday, defying dour expectations that a lack of new products would send its performance down year over year. The maker of the iPhone and iPad said it earned US$10.62 billion …