Business

Bank Negara stemming the decline of the ringgit

PETALING JAYA: As the downward pressure on the ringgit mounts, Bank Negara has adopted gentle suasion methods to stem the decline.

Gold heads for longest weekly losing streak in 16 years

MANILA: Gold slipped to near 5-1/2-year lows on Friday and was on course for a sixth straight weekly fall, its longest retreat since 1999, after upbeat U.S. economic data strengthened expectations for a near-term hike in interest rates.

Trade payment defaulters on the rise, stringent checks needed

PETALING JAYA: There is a gradual increase in trade payment defaulters faced by participating members of RAM Credit Information Sdn Bhd (RAMCI). Those extending credit should practise stringent checks

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Oil prices fall on OPEC comments

SINGAPORE: Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cut-back in production, although a fall in the U.S. dollar put a floor under prices.

31 July 2015 | 11:20AM |

Economy

New card: (From left) Visa Malaysia country manager Ng Kong Boon, UOB Malaysia executive director and cards and payment products head Sue Wong and Annie Tan launching the new UOB PRVI Miles credit card.

UOB launches new credit card, especially for travellers

PETALING JAYA: United Overseas Bank (M) Bhd (UOB Malaysia) has launched a new credit card, UOB PRVI Miles, especially for customers who travel a lot. UOB Malaysia managing director and country head of personal financial services Annie Tan said the launch of the UOB PRVI Miles card was timely.

31 July 2015 | 12:00AM |

Banking

KLCI up nearly 13 points on technical rebound

KUALA LUMPUR: Malaysia’s blue chips staged a technical rebound at midday on Friday, led by fund buying of Petronas related stocks and banks, with the FBM KLCI almost 13 points higher.

31 July 2015 | 12:49PM |

Markets

Public Bank net profit up 13% to RM1.2bil

PETALING JAYA: Public Bank Bhd’s (PBB) net profit was up 13.29% to RM1.2bil on the back of a 16.72% jump in revenue to RM4.74bil for its second quarter to June 30. The better earnings were mainly due to a healthy growth in loans and deposits, and stable asset quality.

31 July 2015 | 12:00AM |

Banking

Bursa Malaysia reprimands and fines Lim Yin Chow

KUALA LUMPUR: Bursa Malaysia has reprimanded and imposed a fine of RM30,000 on Lim Yin Chow, a former non-executive director of Stemlife Bhd, Signature International Bhd and Rev Asia Bhd for submitting false information on his education qualifications.

30 July 2015 | 2:54PM |

Business News

In rural China, shoppers go online

TONGLU, China: Cheng Yonghao left his village in central Henan province almost 20 years ago, not expecting to return. He's now back home, and this week opened a village store to help locals shop online.

31 July 2015 | 6:43AM |

Stocks

MMC has healthier balance sheet post Malakoff listing

THE MMC-Gamuda joint-venture (JV) will be the frontrunner for Mass Rapid Transit (MRT) line 2 tunneling works, for which prequalification documents have been released. This should give at least another RM6bil in new orders.

30 July 2015 | 12:00AM |

Stocks

Noble Group shares fall 13 pct, fifth day of declines

SINGAPORE: Shares in Noble Group Ltd fell for a fifth straight session on Friday, deepening a slide which has wiped out 60 percent of its market value since mid-February on worries about its accounting practices.

31 July 2015 | 11:10AM |

Markets

KLCI up nearly 13 points on technical rebound

KUALA LUMPUR: Malaysia’s blue chips staged a technical rebound at midday on Friday, led by fund buying of Petronas related stocks and banks, with the FBM KLCI almost 13 points higher.

31 July 2015 | 12:49PM |

Markets

Uber to invest US$1bil in India

LONDON: Online ride hailing service Uber Technologies Inc is set to invest $1 billion in India, which will bring its investment on par with that in China, the Financial Times reported.

31 July 2015 | 11:23AM |

Technology

Oil prices fall on OPEC comments

SINGAPORE: Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cut-back in production, although a fall in the U.S. dollar put a floor under prices.

31 July 2015 | 11:20AM |

Economy

Noble Group shares fall 13 pct, fifth day of declines

SINGAPORE: Shares in Noble Group Ltd fell for a fifth straight session on Friday, deepening a slide which has wiped out 60 percent of its market value since mid-February on worries about its accounting practices.

31 July 2015 | 11:10AM |

Markets

Maybank drives KLCI beyond 1,700 level

KUALA LUMPUR: Fund buying of key stocks including Maybank pushed the FBM KLCI solidly beyond the critical 1,700 level in Friday morning trade as the volatile July comes to an end.

31 July 2015 | 9:56AM |

Markets

KAF surges on takeover plan

KUALA LUMPUR: Shares of KAF-Seagroatt & Campbell Bhd (KAFSC) jumped in early Friday trade and surged to a high of RM2.62 following a takeover plan at RM2.70 a share.

31 July 2015 | 9:10AM |

Corporate News

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