Business

Sentiments remain

PETALING JAYA: Stocks on Bursa Malaysia led losses in Asia outside China, bogged down by fresh domestic political worries amid a still weak market sentiment

Oil price slide sparks selling in emerging market currencies, including ringgit

KUALA LUMPUR: Concerns on crude oil oversupply, which led the West Texas Intermediate (WTI) crude to breach below the key US$50 a barrel mark, has prompted selling momentum in currencies of emerging economies linked to crude exports, including the ringgit.

MPay upbeat on its new payment solution

KUALA LUMPUR: Managepay Systems Bhd (MPay) is looking to capture 10% to 15% of the 1.2 million card acceptance devices to be installed over the next five years, with its new Chip & Pin technology solution, making it the first MyClear certified contact and contactless chip & pin card host and terminal solution to be launched in Malaysia.

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MAHB ruled out suggestions to move back to Low Cost Carrier Terminal

PETALING JAYA: Maintenance works at the KL International Airport 2 (KLIA2) is on-going, according to Malaysia Airports Holdings Bhd (MAHB), but is expected to ‘taper off’ to a minimum level over the next five years. MAHB also ruled out the suggestion to move back to the Low Cost Carrier Terminal (LCCT).

29 July 2015 | 12:00AM |

Airlines

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

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AirAsia X sees shifting back to LCCT a good option for now

KUALA LUMPUR: AirAsia X Bhd contends that the ongoing resurfacing works at the KL International Airport 2 (KLIA2) is affecting its operations, according to AirAsia Bhd chief executive officer Aireen Omar. She said the continued works to address the soil depression of the tarmac could cause the airline to incur additional maintenance costs.

28 July 2015 | 12:00AM |

Airlines

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

28 July 2015 | 12:00AM |

Forex

Loan deal: Chan and Maybank corporate banking MD Caroline Teoh at the agreement signing for a bridging loan facility for the Gardenhill condo project in Melbourne.

Fajarbaru plans RM728m projects

PETALING JAYA: Small-cap contractor Fajarbaru Builder Group Bhd has property projects with a gross development value (GDV) of RM728mil in Malaysia. Besides that, its first overseas joint-venture project in Melbourne, which has a GDV of A$77mil (RM215.6mil), has seen a take-up rate of 80%.

29 July 2015 | 12:00AM |

Property

KLCI closes below 1,700 as MISC falls

KUALA LUMPUR: Malaysia’s blue chips index, the FBM KLCI closed below the critical 1,700 level on Tuesday on extended foreign selling while Sunway Construction ended its first trading day unchanged.

28 July 2015 | 6:12PM |

Markets

US consumer mood darkens, home price growth stalls

NEW YORK: U.S. consumer confidence suffered its biggest blow in four years in July on a less upbeat jobs outlook, while home appreciation in major cities stalled in May, suggesting a spring pause in housing demand.

29 July 2015 | 6:54AM |

Economy

Wall Street ends sharply higher as China jitters ebb

NEW YORK: U.S. stocks ended sharply higher on Tuesday, breaking a five-day losing streak as attention shifted from trouble in Chinese equities to U.S. corporate earnings and to speculation the first Federal Reserve interest rate hike may not come until December.

29 July 2015 | 6:48AM |

Stocks

Greek bourse to reopen Wednesday or Thursday after ECB approval

ATHENS The Greek stock market will reopen on Wednesday or Thursday after a month-long shutdown but with restrictions on trading by local investors at the request of the European Central Bank, the Greek securities regulator chairman told Reuters on Tuesday.

29 July 2015 | 6:40AM |

Stocks

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