Business

Public Bank posts strong Q2 earnings, dividend 24 sen (Update)

KUALA LUMPUR: Public Bank Bhd posted a strong financial performance in the second quarter ended June 30, 2015 with earnings up 13.3% to RM1.196bil from RM1.055bil a year ago.

Lloyd’s of London to apply for Malaysia onshore licence (Update)

KUALA LUMPUR: Lloyd’s intends to apply for an onshore reinsurance licence in Malaysia, the UK and Malaysian governments confirmed on Thursday.

MBSB-Muamalat merger, full-fledged Islamic bank on the cards?

PETALING JAYA: Malaysia Building Society Bhd (MBSB), one of the non-conventional banks in the local financial industry, is on track to obtaining a full-fledged Islamic banking licence with plans under way for a merger with Bank Muamalat.

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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

MoF sells entire interest in Bursa Malaysia to KWAP

KUALA LUMPUR: Minister of Finance Inc (MoF Inc), the second largest shareholder in Bursa Malaysia Bhd, has disposed of its entire 16.12% stake in the securities and commodity exchange operator to Retirement Fund Inc (KWAP) effective July 29.

29 July 2015 | 9:49PM |

Corporate News

MAHB posts net loss of RM19.8mil

KUALA LUMPUR: Malaysia Airports Holdings Bhd’s (MAHB) net loss of RM19.88mil narrowed in the second quarter ended June 30, 2015, from a net loss of RM44.67mil a year ago.

30 July 2015 | 6:23PM |

Corporate News

Dollar at week's peak after Fed tiptoes towards rate move

LONDON: The dollar rose to its highest level this week on Thursday after the U.S. Federal Reserve took another small step towards raising interest rates, reinvigorating those betting on another surge for the dollar if and when the Fed delivers.

30 July 2015 | 7:39PM |

Forex

KLCI unable to break past key 1,700 barrier

KUALA LUMPUR: Late selling pressure pushed the FBM KLCI below the critical 1,700 level on Thursday amid the mixed broader market, as gains by heavyweight Sime Darby were offset by selling of Maybank and CIMB.

30 July 2015 | 7:36PM |

Markets

Nippon Paint eyes 15% sales growth

KUALA LUMPUR: Coating expert, Nippon Paint Malaysia, is eyeing an up to 15% hike in sales growth this year, despite the challenging market environment, said Group General Manager Gladys Goh Kaye Jen.

30 July 2015 | 6:44PM |

Business News

Wall Street ends flat; Expedia flies after the bell

NEW YORK: Wall Street ended flat on Thursday as investors digested ho-hum corporate earnings and new data showed that the economy grew more quickly in the second quarter. Procter & Gamble, Facebook and Whole Foods Market all fell after quarterly reports that left investors wanting more.

31 July 2015 | 6:53AM |

Stocks

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

Apple to unveil next Apple TV version in Sept

NEW YORK: Apple Inc will launch the next generation of its Apple TV set-top box in September, with a new remote and support for Siri voice control, online publisher BuzzFeed reported on Thursday.

31 July 2015 | 6:40AM |

Stocks

Muhibbah Engineering bags RM158mil Rapid job

KUALA LUMPUR: Muhibbah Engineering (M) Bhd has won a RM158.2mil job from Toyo Thai Malaysia Sdn Bhd for works related to the steam cracker complex for Petronas’ US$16bil (RM61.2bil) Refinery And Petrochemicals Integrated Development (Rapid) project in Pengerang, Johor.

31 July 2015 | 1:32AM |

Corporate News

Opec chief says oil cartel ‘not ready’ to cut production

MOSCOW: The Organisation of the Petroleum Exporting Countries (Opec) secretary-general Abdullah El-Badri said on Thursday the oil producers’ cartel is not planning to cut production despite the fall in crude prices over recent months and concerns about the possible addition of Iranian oil in the market.

31 July 2015 | 12:20AM |

Foreign News

Asia Poly launches cash call, sets sights on new plant

KUALA LUMPUR: Asia Poly Holdings Bhd has proposed a rights issue and a special bumiputra issue with the aim of raising funds to retire part of its borrowings and to set up a waste management plant, as well as complying with the bumiputra equity requirement.

30 July 2015 | 11:58PM |

Corporate News

Wall Street lower at the open after GDP data

NEW YORK: US stocks opened lower on Thursday after data showed that the US economy grew at a slower-than-expected pace in the second quarter even as the Federal Reserve left doors open for a possible rate hike in September.

30 July 2015 | 10:14PM |

Foreign News

US economy revives in second quarter

WASHINGTON: The US economy picked up sharply in the second quarter, boosted by increased consumer spending and exports after a tepid first quarter, the Commerce Department reported Thursday.

30 July 2015 | 9:23PM |

Foreign News

Maybank’s Indonesian subsidiary records higher profit in first half-year

KUALA LUMPUR: PT Bank Internasional Indonesia Tbk (BII) on Thursday announced that its profit after tax and minority interest (Patami) increased 13.9% to 388 billion rupiah (RM109.9mil) for the first half year (H1) ended June 30, 2015 from 341 billion rupiah (RM96.6mil) in the same period in 2014 despite the macroeconomic slowdown.

30 July 2015 | 8:55PM |

Banking

Dollar at week's peak after Fed tiptoes towards rate move

LONDON: The dollar rose to its highest level this week on Thursday after the U.S. Federal Reserve took another small step towards raising interest rates, reinvigorating those betting on another surge for the dollar if and when the Fed delivers.

30 July 2015 | 7:39PM |

Forex

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