Business

It’s a deal: AirAsia CEO Aireen Omar and Destini group MD Datuk Rozabil Abdul Rahman exchanging documents at the agreement signing. Present are Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar and AirAsia group CEO Tan Sri Tony Fernandes.  See also page 4

Malaysian ringgit at 17-year low

S&P reaffirms Malaysia’s rating, Wahid says country better prepared to handle challenges, Technical analysts say ringgit will test the 4.00 mark against the US dollar

Rate hike: File picture shows a segment of PLUS’ North-South Expressway. Toll rates have not been increased for the past 10 years but highway operators have been compensated by the Government for their reduced income for keeping the rates unchanged.

Toll rate review next year, 5% seen

KUALA LUMPUR: Toll rates under the biggest highway operator in the country – PLUS Malaysia Bhd – will be up for review next year. However, instead of a 10% rate hike, the quantum that is being looked at is about 5%, said sources.

Canadian project to begin soon

KUALA LUMPUR: The construction of Petroliam Nasional Bhd’s (Petronas) multi-billion-ringgit liquefied natural gas (LNG) export terminal in Canada is expected to start this September.

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Fairchild to sell Penang factory, 1,000 set to lose jobs

GEORGE TOWN: Fairchild Semiconductor International Inc, known as National Semiconductor when it first came to Malaysia in 1972, is selling its manufacturing facility in the Free Industrial Zone (FIZ), Bayan Lepas as part of its worldwide realignment exercise. About 1,000 people will lose their jobs.

27 July 2015 | 12:00AM |

Stocks

Ringgit, rupiah at 17-year lows on Fed caution

SINGAPORE: Most emerging Asian currencies eased on Monday amid caution ahead of the U.S. Federal Reserve's policy meeting, while weak commodity prices sent the Malaysian ringgit and the Indonesian rupiah to 17-year lows.

27 July 2015 | 2:29PM |

Forex

Keeping calm: Malaysia lets ringgit fall below 1998-2005 peg

KUALA LUMPUR: For the past three weeks, Malaysian authorities have allowed the ringgit to trade below levels that in 1998 prompted them to impose a dollar peg and capital controls. Economists expect more downside, with the Federal Reserve set to raise U.S. interest rates.

28 July 2015 | 7:17AM |

Economy

Apex’s Chan looking to sell his stake

PETALING JAYA: Apex Equity Holdings Bhd executive chairman Chan Guan Seng, who is looking to dispose of his stake in the Kajang-based stockbroker, has yet to reach any agreement with any potential buyer of his stake.

28 July 2015 | 12:00AM |

Stocks

China stocks tumble, suffer biggest one-day loss in 8 years

SHANGHAI: Chinese shares tumbled more than 8 percent on Monday amid renewed fears about the outlook for the world's No. 2 economy, reviving the spectre of a full-blown market crash that prompted unprecedented government intervention earlier this month.

27 July 2015 | 4:03PM |

Markets

Ringgit slumps to 17 year low versus US dollar

SINGAPORE: The ringgit hit a 17-year low on Monday as a global slump in commodity prices added to concerns over sluggish exports, while investors braced for a US Federal Reserve meeting that might take another step toward lifting interest rates.

27 July 2015 | 11:47AM |

Forex

Malaysian consumer confidence index up on GST

KUALA LUMPUR: The Malaysian consumer confidence index, as measured by Nielsen, slipped to 89 points in the second quarter (Q2), down from 94 in the first quarter, following the introduction of the goods and services tax (GST). The country is now ranked 24th most confident country globally, the market research company said in a statement.

28 July 2015 | 12:00AM |

Economy

Keeping calm: Malaysia lets ringgit fall below 1998-2005 peg

KUALA LUMPUR: For the past three weeks, Malaysian authorities have allowed the ringgit to trade below levels that in 1998 prompted them to impose a dollar peg and capital controls. Economists expect more downside, with the Federal Reserve set to raise U.S. interest rates.

28 July 2015 | 7:17AM |

Economy

US softens view of Malaysia, Cuba in human trafficking report

WASHINGTON: The United States took Malaysia off its list of worst offenders in human trafficking on Monday, removing a potential barrier to a signature Asia-Pacific trade pact despite opposition from human rights groups and nearly 180 U.S. lawmakers.

28 July 2015 | 7:11AM |

Economy

Southeast Asian stocks: Most fall, Malaysia for 4th straight day

BANGKOK: Most Southeast Asian stock markets fell more than 1 percent on Monday as selloffs in China and Asian shares prompted investors to cut risk holdings, with the Thai benchmark hitting a near 14-month low after June exports tumbled more than expected. Singapore fell for a fifth day to a two-week closing low and Malaysia posted a fourth straight day of losses

28 July 2015 | 7:04AM |

Stocks

China stocks rout stings world equities, commodities

NEW YORK: The biggest rout in Chinese shares in eight years stoked concerns over slowing growth in the world's No. 2 economy on Monday, knocking down global equities and the prices of key commodities. The dollar eased on safety bidding for other major currencies and the euro topped $1.11 for the first time in two weeks, supported by strong German business sentiment data.

28 July 2015 | 6:54AM |

Stocks

Wall Street drops as China stock slump stokes growth fears

NEW YORK: Wall Street sank on Monday, with the Nasdaq losing almost 1 percent after the steepest decline in Chinese stocks in eight years increased concerns that cooling growth in the world's No. 2 economy could hurt China's trading partners.

28 July 2015 | 6:51AM |

Stocks

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