Business

TNB unable to determine impact of lower energy prices yet

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is unable to determine the impact of lower energy prices and the weaker ringgit on the company and will not be adjusting tariffs yet.

Ahmad Phesal (2nd from left) exchanging documents with Suhaimi. With them are (from left) DBKL deputy director general for project implementation Datuk Mohd Najib Mohammad, DBKL board of advisors Wilson Lau and DBKL deputy director general Datuk Normah Malik.

Tie-up on zero-emission vehicle charging stations

KUALA LUMPUR: KL Electric Mobility Sdn Bhd (KLEM), a wholly-owned subsidiary of US-based Masers Energy Inc, is investing RM1.5bil to set up 3,000 charging stations for zero-emission vehicles within Kuala Lumpur’s Golden Triangle over the next two years.

Malaysia’s economy will stay resilient next year

KUALA LUMPUR: Malaysia’s economy will still be healthy and resilient next year even though it is facing the problem of lower crude oil prices and a weaker currency, said Deputy Finance Minister I Datuk Ahmad Maslan.

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Depleted Indonesian oil field is window into China's corruption crackdown

LIMAU, Indonesia: In a muddy clearing in southern Sumatra, a portable diesel power plant hammers away alongside a wellhead, struggling to extract crude from a depleted reservoir that lies below farmland and rubber plantations. It was much easier to extract cash from a state-owned Chinese oil giant.

19 December 2014 | 8:15AM |

Oil & Gas

Chinese shopping 'agents' cash in on Russian currency slide

SHANGHAI: In Blagoveshchensk on Russia's side of the Chinese border, Mou Jiani has turned her home into a warehouse, stocking up on Apple Inc iPhones, handbags and milk powder to sell back home as Chinese shoppers take advantage of the rouble's slide.

19 December 2014 | 7:06AM |

Banking

World Bank cuts 2015 Malaysia GDP forecast

PUTRAJAYA: The World Bank has cut its 2015 growth forecast for Malaysia’s economy to 4.7% from an earlier estimate of 4.9% on expectations of slower export growth and investments in the oil and gas industry as well as moderate private consumption next year.

18 December 2014 | 12:00AM |

Business

KLCI up 15 points at midday

KUALA LUMPUR: The local stock market is continuing its climb on Friday after two days of positive runs, adding 0.91% at the break, as the mood stays bright in equity markets around the world from the Fed’s upbeat assessment of the US economy and its promise to go easy on raising interest rates.

19 December 2014 | 12:57PM |

Stocks

Due diligence on 1MDB plant still ongoing

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is still conducting its due diligence to decide whether it will take up a stake in 1Malaysia Development Bhd’s (1MDB) Jimah East coal-fired power plant.

19 December 2014 | 12:00AM |

Stocks

Malaysian palm oil edges up, heavy rains eyed

KUALA LUMPUR/JAKARTA: Malaysian palm oil futures edged up on Thursday, swelled by a jump in crude oil prices, while wet weather warnings across parts of the second-largest grower stoked concern that yields of the tropical oil will drop this month

19 December 2014 | 7:13AM |

Palm Oil

Ahmad Maslan: 1MDB should engage more with the public

KUALA LUMPUR: The management of state investment fund 1Malaysia Development Bhd (1MDB) should increase public engagement to be more transparent and avoid any unclear accusations against the company, said Deputy Finance Minister I Datuk Ahmad Maslan.

19 December 2014 | 12:00AM |

Stocks

Alcatel-Lucent shares jump 8% on Nokia merger report

LONDON/HELSINKI: Two of Europe's top three remaining telecommunications equipment companies, Nokia Networks and Alcatel-Lucent, have revived talks on a possible merger, Germany's Manager Magazin reported on Thursday, citing company sources.

19 December 2014 | 7:02AM |

Stocks

Maybank's Anfin Bhd holds final meeting

KUALA LUMPUR: Malayan Banking Bhd (Maybank) said one of its units Anfin Bhd, which had been placed under members' voluntary liquidation on May 26, 2004 has held its final meeting on Thursday.

19 December 2014 | 1:10PM |

Corporate News

KLCI up 15 points at midday

KUALA LUMPUR: The local stock market is continuing its climb on Friday after two days of positive runs, adding 0.91% at the break, as the mood stays bright in equity markets around the world from the Fed’s upbeat assessment of the US economy and its promise to go easy on raising interest rates.

19 December 2014 | 12:57PM |

Stocks

Workers walk back to a construction site after their lunch break in Beijing. The National Bureau of Statistics has revised up the estimated size of China's economy for 2013 by 3.4% to 58.8 trillion yuan (US$9.5tril) - AFP Photo.

China 2013 GDP revised up, won’t affect 2014 growth

BEIJING: China has revised up the estimated size of its economy for 2013 by 3.4% to 58.8 trillion yuan (US$9.5tril), the National Bureau of Statistics said on Friday, but said the revision would not affect economic growth this year.

19 December 2014 | 11:30AM |

Foreign News

EU leaders agree investment package to boost economy

BRUSSELS: European Union leaders endorsed a new investment programme intended to kick-start economic growth in the bloc at a summit in Brussels, which its chairman said would end late on Thursday, half a day earlier than planned.

19 December 2014 | 10:27AM |

Economy

Thai Union Frozen to buy US tuna firm Bumble Bee for US$1.5mil

BANGKOK: Thai Union Frozen Products PCL, the world's largest canned tuna producer, said on Friday it has signed an agreement to acquire 100 percent of North American tuna company Bumble Bee Foods for US$1.51 billion from a private equity firm.

19 December 2014 | 10:19AM |

Stocks

KLCI up nearly 12 points, banks lift

KUALA LUMPUR: Gains in banks helped push the FBM KLCI to a firm start on Friday, surging almost 12 points as investors sentiments improved in tandem with Wall Street's advance.

19 December 2014 | 9:14AM |

Markets

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