Business

Upside for ringgit

PETALING JAYA: The worst seems to be over for the ringgit for now.

Malaysian Retailers Association cut outlook for third time this year

KUALA LUMPUR: Malaysia Retailers Association (MRA) have lowered the projected retail sales growth rate in 2015 for the third time from 4.9% to 4.0% as consumers hold back their spending due to higher costs of living, a weak Ringgit and higher cost of doing business.

UEM Sunrise bets on landed properties

NUSAJAYA: UEM Sunrise Bhd sees demand for landed residential properties in Iskandar Malaysia remaining good, as most prospective property buyers still prefer this type of properties.

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Former MAS CEO and EPU D-G join Taliworks

KUALA LUMPUR: Former Malaysia Airlines managing director and chief executive officer Ahmad Jauhari Yahya and former Economic Planning Unit (EPU) director-general Raja Datuk Zaharaton Raja Zainal Abidin have joined Taliworks Corp Bhd as independent, non-executive directors.

2 July 2015 | 7:15PM |

Corporate News

Market rally seen temporary

PETALING JAYA: The local stock market and the ringgit rallied to their best levels in weeks after Fitch Ratings upgraded its outlook on Malaysia’s government debt to “stable” from “negative”, but market observers warn that the relief may be temporary as concerns continue to loom.

2 July 2015 | 12:00AM |

market

Stiff competition to affect telcos’ profits

PETALING JAYA: Profits of telecommunication companies (telcos) in the second quarter ended June 30 may fall short of market’s expectation, as the industry struggles with weak prepaid reload sales and stiff competition.

2 July 2015 | 12:00AM |

telco

Bumi Armada boosts allocation for FPSO operations

KUALA LUMPUR: Bumi Armada Bhd has revised how its rights issue’s gross proceeds of RM1.979bil will be utilised, raising the allocation for its floating production, storage and offloading (FPSO) and the new floating gas solutions (FGS) business units.

1 July 2015 | 8:28PM |

Corporate News

US$ off after data, global stocks flat; Greek vote eyed

NEW YORK: The U.S. dollar index fell from a three-week high on Thursday as a weaker than expected U.S. payrolls report lowered chances of a U.S. interest rate hike come September, while Wall Street and world stock markets ended little changed after a volatile week.

3 July 2015 | 6:58AM |

Stocks

Wall St edged down on Greece worries tepid US data

NEW YORK: U.S. stocks closed down slightly on Thursday after the International Monetary Fund warned Greece ahead of its Sunday referendum that it faces a huge financial hole, and mixed jobs data dampened the U.S. economic outlook.

3 July 2015 | 6:50AM |

Stocks

Malaysia tells UN Security Council of push for MH17 tribunal

UNITED NATIONS: Malaysia told the United Nations Security Council on Thursday it plans to push for a U.N.-backed tribunal to prosecute those suspected of downing a passenger airliner last year in eastern Ukraine, though Russia described the move as premature, diplomats said.

3 July 2015 | 6:32AM |

Airlines

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