• Featured and Exclusive & Opinion  |  JULY 30, 2015 11:59 AM

    Letting China’s bubble burst

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    NEW YORK – The problems with China’s economic growth pattern have become well known in recent years, with the Chinese stock market’s recent free-fall bringing them into sharper focus. But discussions of the Chinese economy’s imbalances and vulnerabilities tend to …

  • Featured and Exclusive & Opinion  |  JULY 30, 2015 11:37 AM

    Cost savings measures put new MAS on firm footing

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    An initial cost savings of at least RM180 million from catering contracts plus a few hundred million more from lesser payroll expenses due to a leaner workforce for the next three years will put the new Malaysia Airlines (MAS) on a firm …

  • Markets  |  JULY 30, 2015 11:29 AM

    KL shares turn higher at mid-morning on small caps

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    Bursa Malaysia turned higher mid-morning lifted by buying interest in small caps and lower liners, dealers said. At 11.01 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.19 point to 1,703.18. On the scoreboard, the FBM Emas Index …

  • Singapore & World Biz  |  JULY 30, 2015 11:21 AM

    SIA releases seven A350 jet orders back to Airbus

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    Singapore Airlines (SIA) has agreed to a request from Airbus to release seven of its A350-900 widebody jet orders back to the aircraft manufacturer, the carrier said in a statement. This reduces the airline’s A350s on order to 63, it …

  • Markets  |  JULY 30, 2015 11:07 AM

    Bursa issues UMA on BTM Resources

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    Bursa Malaysia has issued an unusual market activity (UMA) query on BTM Resources Bhd due to the recent sharp rise in its share price and volume traded. As at 10.55 am, BTM Resources share price stood at 33.5 sen, down 1.5 sen, with …

  • Commodities  |  JULY 30, 2015 11:04 AM

    Citigroup sees China securing oil market clout

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    As the global oil market grapples with a price slump and a supply glut, Citigroup Inc predicts China will exert the strongest pull on the international flow of crude. Imports by the world’s largest energy user are set to increase …

  • Markets & World Biz  |  JULY 30, 2015 10:50 AM

    With Grexit avoided, some banks say buy Greek bonds

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    It is barely two weeks since Greece was on the brink of crashing out of the euro, yet some investment banks are now encouraging investors to return to its bond market. A last-gasp deal on July 13 saw Athens accept …

  • TigerTalk  |  JULY 30, 2015 10:47 AM

    When public transportation fails…

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    Tiger, not possessing the human skills to maneuver a four-wheeled vehicle (or the motorised two-wheel variety either), is heavily dependent upon public transportation to roam from hunting ground to another. While some may dispute the effectiveness of our public transportation …

  • Featured and Exclusive & World Biz  |  JULY 30, 2015 10:30 AM

    Fed sees improving economy; Sept rate hike in view

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    The US economy and job market continue to strengthen, the Federal Reserve said on Wednesday, leaving the door open for a possible interest rate hike when central bank policymakers next meet in September. Following their latest two-day policy meeting, Fed …

  • World Biz  |  JULY 30, 2015 10:30 AM

    Being frank not enough, Twitter needs to act

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    Twitter Inc interim CEO Jack Dorsey’s harsh criticism of the company’s efforts to woo new users may just be the first step to addressing its long-standing problems. But being frank is not enough, particularly for a social media company struggling …

  • Finance & Markets  |  JULY 30, 2015 10:00 AM

    Ringgit opens lower against US dollar

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    The ringgit opened lower against the US dollar in early trade today as investors’ interest shifted towards the greenback. At 9 am, the ringgit was quoted at 3.8130/8150 against the US dollar from 3.8095/8125 recorded at 5 pm yesterday. A dealer said while …

  • Markets  |  JULY 30, 2015 9:56 AM

    KL shares open lower

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    Shares on Bursa Malaysia traded lower this morning, extending its weak momentum from yesterday, dealers said. At 9.06 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.88 points lower at 1,697.1 after opening 2.25 point easier at 1,696.74. A dealer …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 9:30 AM

    Team sent to Reunion to see if debris is from MH370

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    Malaysia said on Wednesday it has sent a team to Reunion Island off the east coast of Africa to determine whether washed-up debris may be from the missing Malaysia Airlines Flight MH370 that is believed to have crashed in the …

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 9:27 AM

    M’sian Airlines: Premature to speculate on Reunion debris

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    Malaysia Airlines said on Thursday it was premature to speculate on the origin of aircraft debris that had washed up on La Reunion island in the southern Indian Ocean east of Madagascar. No trace has been found of MH370, a …

  • Corporate & World Biz  |  JULY 30, 2015 9:12 AM

    Volkswagen lowers sales goal as China growth slows down

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    Volkswagen lowered its global sales forecast on Wednesday and said it was braced for stagnant volumes in China, after years of double-digit growth in its biggest market. The German carmaker, which overtook Toyota as the world’s largest carmaker by sales …

  • Featured and Exclusive & World Biz  |  JULY 30, 2015 8:50 AM

    Samsung misses estimates as Galaxy S6 disappoints

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    Samsung Electronics Co’s second-quarter profit missed analysts’ estimates after misfiring on its Galaxy S6 sales strategy and losing ground in emerging markets to Chinese smartphone brands. Net income, excluding minority interests, fell to 5.63 trillion won (RM18.4 billion) in the …

  • World Biz  |  JULY 30, 2015 8:07 AM

    Facebook profit falls 9% as costs soar

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    Facebook Inc reported quarterly revenue that beat forecasts but its profit fell 9% as the social media company sharply increased spending to boost mobile revenue and future growth. Expenses will grow 55% to 60% in 2015 from last year, including …

  • Enterprise & Issues  |  JULY 30, 2015 8:00 AM

    Exabytes is going places

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    In this article, Exabytes founder Chan Kee Siak shares his views on the e-commerce scene in Malaysia today and his big plans for the company.

  • Corporate & Featured and Exclusive  |  JULY 30, 2015 7:52 AM

    M’sia hits back at domestic critics of TPP

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    Malaysia’s trade minister vowed to safeguard state-owned enterprises and policies favoring ethnic Malays in a Pacific trade deal, as he hit back at domestic critics of the pact. Mustapa Mohamed said the Trans-Pacific Partnership (TPP) would scrap tariffs on goods …

  • Commodities  |  JULY 30, 2015 7:38 AM

    Gold inches up as Fed leaves door open to Sept rate hike

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    Gold moved up a shade on Wednesday, but remained near last week’s 5-1/2-year low, after a US Federal Reserve statement raised uncertainty about the timing of a possible interest rate hike, leaving the door open for September. Following a two-day …

  • Finance & Markets  |  JULY 30, 2015 7:14 AM

    Dollar rises as Fed’s jobs view hints at rate hike

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    The dollar rose modestly against a basket of currencies on Wednesday as the Federal Reserve upgraded its view of the labor market, supporting some traders’ opinion that it would raise benchmark US interest rates, perhaps as early as September. The …

  • Commodities  |  JULY 30, 2015 7:08 AM

    Oil rises from near 6-month lows on US stock drawdown

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    Oil settled higher on Wednesday, recovering from multi-month lows, after US government data showed a surprisingly large crude stockpile draw that signaled the market may have been wrong in predicting slumping demand for energy. Crude futures lost more than US$10 …

  • Featured and Exclusive & Markets  |  JULY 30, 2015 7:00 AM

    Wall St ends higher after Fed leaves investors unruffled

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    US stocks finished stronger on Wednesday after the US Federal Reserve said the economy and job market continued to strengthen and left its key interest rate unchanged.

  • Corporate  |  JULY 29, 2015 10:12 PM

    Mixed feelings about MMHE

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    Analysts have mixed feelings with Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), both in its results, as well as in its prospects. BIMB Securities upgraded MMHE to a “hold” call with an increased target price of RM1.15 from the …

  • World Biz  |  JULY 29, 2015 9:35 PM

    Analysts: Twitter needs to broaden portfolio

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    Twitter Inc interim chief executive officer Jack Dorsey’s criticism of the company’s efforts to woo new users may just be the first step to address its long-standing problems. But being frank is not enough. To generate long-term earnings growth and …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 8:47 PM

    Putin opposes MH17 tribunal ahead of UN vote

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    Russian President Vladimir Putin says he opposed the creation of an international tribunal to prosecute those who shot down a Malaysian airliner over eastern Ukraine, hours before a United Nations (UN) vote on such a proposal. Putin’s comment was the …

  • Corporate  |  JULY 29, 2015 8:42 PM

    Analyst: RM2.50 reasonable valuation for Apex shares

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    An analyst is of the view that RM2.50 would be within the range of reasonable valuation for Apex Equity Holdings Bhd’s share, but this should be subject to a closer look at the asset composition. “RM2.50 is reasonable as the price should …

  • Finance  |  JULY 29, 2015 8:32 PM

    Greek PM says may have to call early election

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    Greek Prime Minister Alexis Tsipras says he may have to call an early election to bolster a parliamentary majority that has been strained by bailout reforms demanded by creditors. About three dozen of his 149 lawmakers have refused to back reforms …

  • Corporate  |  JULY 29, 2015 8:16 PM

    Cuepacs wants govt to raise pay by 35%

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    The Congress of Unions of Employees in the Public and Civil Service (Cuepacs) wants the government to review the salaries of civil servants by giving a pay hike of 35% when tabling the budget in October. President Azih Muda said Cuepacs had voiced …

  • Commodities  |  JULY 29, 2015 8:05 PM

    Ministry to meet over commodity prices stability

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    The Plantation Industries and Commodities Ministry will discuss strategies with the private sector and interest groups to stabilise commodity prices. Minister Douglas Uggah Embas said meetings will be held beginning August to ensure commodity prices remain competitive in the international market. “It is a proactive measure …

  • Corporate & Featured and Exclusive  |  JULY 29, 2015 7:43 PM

    MACC panels: Don’t hinder 1MDB task force

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    The five independent oversight panels of the Malaysian Anti-Corruption Commission (MACC) say there should be no interference or pressure on the special task force investigating 1Malaysia Development Bhd (1MDB). “The task force must be given the widest possible latitude to …

  • Singapore  |  JULY 29, 2015 7:17 PM

    SGX 4Q net profit up 24%; says to boost listings

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    Singapore Exchange Ltd (SGX) reports a 24% rise in its quarterly net profit to the highest in two years and says it will focus on tackling the weak environment for new listings of companies. “We are conscious of the challenges …

  • Featured and Exclusive, Launches, World Biz  |  JULY 29, 2015 7:03 PM

    Microsoft unveils much-awaited Windows 10

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    Microsoft Corp launches its much-awaited Windows 10 operating system at midnight on Wednesday. Windows 10, which comes almost three years after the launch of the company’s previous operating system, will be available as a free upgrade in 190 countries for …

  • Corporate  |  JULY 29, 2015 6:59 PM

    TA Enterprise: No plans to sell its stockbroking business

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    TA Enterprise Bhd has no plans to sell its stockbroking business, but it is on the lookout for merger and acquisition (M&A) opportunities to diverse its business portfolio. Managing director and chief executive director Alicia Tiah said stockbroking business is still seen as …

  • Corporate  |  JULY 29, 2015 6:49 PM

    TA Global to launch residential project in Australia

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    TA Global Bhd will launch the second phase of its residential property development in Sydney, Australia next month with a gross development value of A$160 million (RM444.97 million). Executive director Kimmy Khoo Poh Kim said the second phase, spread over 33ha, would …

  • Corporate  |  JULY 29, 2015 6:27 PM

    Boustead unit in MOU for O&G upstream project bids

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    Boustead Atlas Hall Sdn Bhd and Olio Resources Sdn Bhd team up to tender for two oil and gas (O&G) upstream projects in the country. Parent company Boustead Holdings Bhd said the first project involves the rental of seawater filter skid for a new …

  • World Biz  |  JULY 29, 2015 6:17 PM

    Uber faces lawsuit as union sues over minimum wage

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    Uber Technologies Inc faces a lawsuit complaining that the ride-sharing service doesn’t ensure minimum wages or paid vacations for drivers. The suit will be filed as soon as next month and may include allegations of health and safety violations, according …

  • Commodities  |  JULY 29, 2015 6:06 PM

    Rubber market ends mixed

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    The Malaysian rubber market closed mixed today on reduced buying momentum. A dealer said some traders were reluctant to buy Malaysian rubber due to the firmer ringgit against the US dollar today which made the commodity expensive compared to that of neighbouring countries. …

  • Corporate, Featured and Exclusive, Finance  |  JULY 29, 2015 6:00 PM

    Power made up 39% of M’sian infra bonds in last decade

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    Power bonds accounted for 39% of Malaysia’s RM239 billion of infrastructure bond issues in the last decade, says RAM Rating Services Bhd’s co-head of infrastructure and utilities ratings Chong Van Nee. In a statement today, the ratings agency said that …

  • Markets  |  JULY 29, 2015 5:51 PM

    KL shares close marginally lower

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    Bursa Malaysia ended slightly lower today in lacklustre trading amid the absence of clear market drivers, dealers say. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 0.71 point to 1,698.98, after fluctuating between 1,696.72 and 1,702.36 throughout the day. A …

  • Singapore & World Biz  |  JULY 29, 2015 5:44 PM

    Temasek, Facebook co-founder invest in startups

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    Facebook Inc co-founder Eduardo Saverin and Temasek Holdings Pte Ltd, Singapore’s state-owned investment company, are among the main investors in a new venture capital fund that will take stakes in technology companies in Southeast Asia. The Golden Gate Ventures Fund …

  • Markets  |  JULY 29, 2015 5:33 PM

    Ringgit ends stronger against US dollar

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    The ringgit ended firmer against the US dollar today as investors’ interest began shifting away from the greenback on cautious sentiment. At 5pm, the ringgit was quoted at 3.8095/8125 against the US dollar from 3.8130/8150 on Tuesday. A dealer said traders were cautious …

  • TigerTalk  |  JULY 29, 2015 5:32 PM

    The 1MDB cabinet reshuffle

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    Whichever way one looks at the changing of the attorney-general, the appointment of a new Special Branch head and the cabinet reshuffle, they have everything to do with that self-styled strategic development company that isn’t – 1MDB. Just what is the prime minister trying to achieve with the 1MDB reshuffle?

  • Featured and Exclusive & World Biz  |  JULY 29, 2015 5:27 PM

    Birkin wants name removed from bags over croc treatment

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    Hermes International SCA says it will penalise any breach of its supply code after Jane Birkin voiced concern over crocodile slaughter processes. The actress has asked Hermes to remove her name from the Birkin bag after an investigation into the …

  • Finance  |  JULY 29, 2015 5:03 PM

    Indonesia regulator open to higher foreign stakes in banks

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    Indonesia’s financial regulator is open to allowing a higher percentage of foreign ownership in local banks as the country wants to tap international funds for trade and project finance. The Southeast Asian nation usually limits foreign purchases of domestic banks …

  • Corporate  |  JULY 29, 2015 4:44 PM

    M’sia-Germany trade set to grow 5-7% this year

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    Malaysia-Germany total trade, which touched a high of 10.9 billion euro (RM45.9 billion) last year, is expected to grow by between 5% and 7% this year, says Malaysian-German Chamber of Commerce and Industry (MGCC). Executive director Alexander Stedtfeld said the total trade would hit …

  • World Biz  |  JULY 29, 2015 4:43 PM

    Peugeot rebounds with RM2.4 bil net income

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    PSA Peugeot Citroen rebounded to a first-half profit, the French carmaker said on Wednesday, turning the page on three years of losses as a recovery plan led by chief executive Carlos Tavares bears fruit.

  • World Biz  |  JULY 29, 2015 4:11 PM

    Nokia launches virtual reality camera

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    Finland’s Nokia, once the world’s largest phone maker, unveils a spherical camera designed for making 3D movies and games that can be watched and played with virtual reality headsets. The device, showcased at an event in Los Angeles, takes video and …

  • Commodities, Economy, Featured and Exclusive  |  JULY 29, 2015 4:00 PM

    S’wak to maximise O&G contribution to state economy

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    Sarawak wants to maximise its oil and gas (O&G) sector’s contribution to the state economy by making Bintulu a petrochemical hub in Malaysia. Chief Minister Adenan Satem said to do it, Sarawak will be intensely involved in developing the high-value downstream products of …

  • Markets  |  JULY 29, 2015 3:39 PM

    KL shares remain subdued at mid-afternoon

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    Shares on Bursa Malaysia remained subdued at mid-afternoon today weighed by losses on TNB and Sime Darby. At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.82 point lower at 1,698.88. TNB topped the losers’ list, down 12 sen to …