• Commodities & World Biz  |  APRIL 25, 2014 1:32 PM

    Turkey, Russia cut gold holdings in March – IMF

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    Turkey and Russia both cut their gold holdings in March 2014 after increases the month before, data from the International Monetary Fund showed on Thursday. Bullion holdings by central banks are closely watched since the group became net buyers in 2010 after …

  • Corporate & Economy  |  APRIL 25, 2014 1:22 PM

    ECER draws RM24.45 bil in investment in Q1 2014

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    The East Coast Economic Region Development Council (ECERDC) succeeded in attracting RM24.45 billion in investments to the  East Coast Economic Region in the first quarter of 2014, said prime minister Najib Tun Razak here today. He said ECER had attracted RM63.58 billion …

  • Markets  |  APRIL 25, 2014 1:11 PM

    Share prices continue downtrend, CI down 2.88 pts

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    Share prices on Bursa Malaysia continued their downtrend at midday today with the FTSE Bursa Malaysia KLCI (FBM KLCI) at 1,862.4, down 2.88 points. The benchmark index hovered between 1,861.45 points and 1,868.29 points during the morning session. Kenanga Research said the technical …

  • Corporate & Featured and Exclusive  |  APRIL 25, 2014 1:07 PM

    Bright prospects ahead for TNB despite 2Q profit slump

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    Tenaga Nasional Bhd has been maintained at an ‘outperform’ call by Kenanga Research on the back of the utility company releasing its 1H14 financials which came within both the house and market expectations. Maybank KE and RHB Research have also maintained their ‘buy’ calls.

  • Corporate  |  APRIL 25, 2014 1:00 PM

    BAT hurt by higher prices

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    Sales volume of BAT (British American Tobacco Bhd) shrunk in the first quarter of the 2014 financial year (1Q14) due to higher cigarette prices, according to an analyst report by TA Securities (TAS). “Although BAT’s 1Q14 net profit grew by …

  • Commodities  |  APRIL 25, 2014 12:55 PM

    KLTM unchanged on cautious sentiment

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    The Kuala Lumpur Tin Market (KLTM) closed unchanged at US$23,640 a tonne today on cautious sentiment despite the London Metal Exchange (LME) edging up US$25 to US$23,775 a tonne in overnight trade, a dealer said. He said the market was quiet as traders …

  • World Biz  |  APRIL 25, 2014 12:49 PM

    Apple, Google, Intel, Adobe to reach RM1.04 bil accord

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    Apple Inc, Google Inc, Intel Corp, and Adobe Systems Inc agreed to pay US$324 million (RM1.04 billion) to settle an employee lawsuit over claims they conspired to suppress salaries by not recruiting one another’s workers, a person familiar with the …

  • Commodities  |  APRIL 25, 2014 12:34 PM

    Gold holds near 2-1/2-month low as jewellers stay away

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    Gold slipped on Friday and held near its weakest level in more than two months on muted demand from jewellers as they waiting for a further drop in prices, although tensions in the Crimean peninsula could underpin the metal’s safe-haven appeal. Gold bar premiums …

  • Corporate  |  APRIL 25, 2014 12:15 PM

    MCMC calls for proposals for research collaborations

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    The Malaysian Communications and Multimedia Commission (MCMC) is inviting researchers attached to registered tertiary institutions in Malaysia to submit their proposals for the Networked Media Research Collaboration Programme (NMRC Programme). The programme is a collaborative initiative between the MCMC and the Malaysian tertiary institutions …

  • World Biz  |  APRIL 25, 2014 12:05 PM

    US, Japan say TPP progressed though no agreement

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    The US and Japan said they identified a path through the bilateral issues impeding the 12-nation Trans-Pacific Partnership trade pact, even as an agreement proved elusive during president Barack Obama’s visit. In a statement issued as Obama left for Seoul …

  • Featured and Exclusive & World Biz  |  APRIL 25, 2014 11:42 AM

    Yellen fears banks’ inflation forecast models broken

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    US Federal Reserve must "watch carefully" if inflation rises as predicted, says US Federal Reserve chair Janet Yellen, as the forecast models failed to predict US prices movement during the last recession.

  • Markets  |  APRIL 25, 2014 11:35 AM

    FBM KLCI edges lower on losses in heavyweights

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    The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) erased earlier gains to edge lower at mid-morning today due to losses in selected heavyweights. The benchmark index eased 1.46 points to 1,863.82 points as at 11.05am. Of the heavyweights, YTL Corporation struggled the …

  • Markets  |  APRIL 25, 2014 11:27 AM

    RM set for biggest weekly drop

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    Malaysia’s ringgit headed for its biggest weekly loss since January 2014 as tensions in Ukraine and a slowdown in China’s manufacturing reduced demand for emerging- market currencies. A Purchasing Managers’ Index of China’s factory output contracted for a fourth month …

  • World Biz  |  APRIL 25, 2014 10:49 AM

    Wal-Mart replaces China CEO in Asia leadership shuffle

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    US retailer Wal-Mart Stores Inc has appointed a new chief executive for the China region, where the world’s largest retailer is battling stiff competition from local rivals. Sean Clarke, a Wal-Mart veteran and current chief operating officer in China, will take over the China …

  • Economy  |  APRIL 25, 2014 10:29 AM

    ‘M’sia-US economic ties will continue to be vibrant’

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    Malaysia-US economic ties will continue to be robust and mutually reinforcing with the US high technology and knowledge intensive investments contributing to Malaysia’s vibrant economic growth. Malaysia’s economic counsellor to the United States Hairil Yahri Yaacob said trade, investment and economic ties have …

  • Commodities  |  APRIL 25, 2014 10:17 AM

    Gold futures open higher on continued demand

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    Gold futures contracts opened higher this morning on continued demand for the precious metal, dealers said. At 9:26am, April 2014 gained 35 ticks to RM136.05 a gramme and May added 30 ticks to RM136.30 a gramme while June 2014 surged 37 ticks …

  • Markets  |  APRIL 25, 2014 10:11 AM

    RM opens lower against US$ on US’ durable goods data

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    The ringgit opened lower against the US dollar in early trading today following encouraging US’ durable goods data, dealers said. At 9am, the local unit was quoted at 3.2745/2765 against a US dollar from yesterday’s 3.2685/2705 close. The dealers said the US’ durable …

  • Markets  |  APRIL 25, 2014 10:07 AM

    Share prices open higher on gains in selected heavyweights

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    Share prices on Bursa Malaysia erased yesterday’s losses to open higher in the early session today, driven by gains in selected heavyweights. At 9:15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.66 points better at 1,866.94, after opening 1.09 points higher …

  • Markets  |  APRIL 25, 2014 9:53 AM

    Asian stocks teeter on Ukraine escalation, earnings

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    Asian stocks swung between gains and losses as investors weighed escalating tensions in Ukraine, Japanese inflation data and corporate earnings. Chugai Pharmaceutical Co. jumped 5.2 percent in Tokyo after the drugmaker reported first-quarter profit nearly doubled. Hitachi Construction Machinery Co. (6305) added 2.6 percent after predicting …

  • Corporate, Economy, World Biz  |  APRIL 25, 2014 9:49 AM

    Corporate cloud spending to hit RM625 bil by 2020

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    Corporate spending on cloud-computing services, software and resources will reach $191 billion (RM625.5 billion) in 2020 as companies replace older equipment and programs with Internet-based systems, a research firm said.