Business

Fernandes bullish on AirAsia X, but CIMB downgrades airline

PETALING JAYA: While Tan Sri Tony Fernandes remains bullish about the prospects of his loss-making AirAsia X Bhd (AAX), one research house downgraded its rating on the long-haul, low-cost airline, giving it a target price of a mere 17 sen. CIMB Research said its downgrade rating from “hold” to “reduce” was on the back of a more challenging outlook and continuing drain on AAX’s cash.

Early groundwork: Liew says Eco World had been building up its customer base and momentum before launching its projects.

Eco World to unveil three London projects

LONDON: Eco World Investment Co Ltd, a private vehicle controlled by Tan Sri Liew Kee Sin, has set a target to launch its three London property projects within the next two years now that “the major approvals” are in place. The three projects – London City Island, Embassy Gardens and Wardian London – have a total gross development value (GDV) of £2.257bil (RM13.33bil).Most units are expected to be snapped up before launches

KETUA Pegawai Eksekutif Malaysia Airlines, Christoph Mueller bercakap pada sidang akhbar pengenalan terbaru MAS di Malaysian Airlines Building Southern Support Zone,KLIA di sini, hari ini.

Mueller unveils a flat MAS structure

PETALING JAYA: Malaysia Airlines Bhd unveiled a structure that is flat and having several new faces at the apex management team. Christoph Mueller, the current Malaysia Airlines (MAS) chief executive officer and CEO designate of the new airline has broken the operations of the loss-making airline into eight divisions.

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KLCI down on China's rout

KUALA LUMPUR: The FBM KLCI lost its gains and fell four points at midday on Friday as China's rout weighed down key regional markets, prompting investors to a mild sell-off.

3 July 2015 | 12:51PM |

Markets

China stocks tumble 6% as govt launches probe

SHANGHAI: Chinese shares tumbled more than 6% on Friday, after the country's securities market regulator said it had opened an investigation into suspected market manipulation as Beijing struggles to head off a full-blown crash that could damage an already slowing economy.

3 July 2015 | 10:54AM |

Corporate News

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

KLCI down on China's rout

KUALA LUMPUR: The FBM KLCI lost its gains and fell four points at midday on Friday as China's rout weighed down key regional markets, prompting investors to a mild sell-off.

3 July 2015 | 12:51PM |

Markets

China stocks tumble 6% as govt launches probe

SHANGHAI: Chinese shares tumbled more than 6% on Friday, after the country's securities market regulator said it had opened an investigation into suspected market manipulation as Beijing struggles to head off a full-blown crash that could damage an already slowing economy.

3 July 2015 | 10:54AM |

Corporate News

Aetna nears deal to buy Humana for about US$34bil

NEW YORK: US health insurer Aetna Inc is nearing an agreement to buy rival Humana Inc for about US$34 billion in a cash and stock deal, people familiar with the matter told Reuters on Thursday.

3 July 2015 | 10:31AM |

Stocks

Ringgit opens marginally higher

KUALA LUMPUR: The ringgit was traded marginally higher against the US dollar this morning on back of mild buying support for the local note, a dealer said.

3 July 2015 | 9:52AM |

Corporate News

In struggle to stem market rout, China hunts manipulators

China's securities market regulator has opened an investigation into suspected market manipulation, in the latest in Beijing's increasingly desperate attempts to head off a potential stock market crash that could damage an already slowing economy.

3 July 2015 | 9:25AM |

Earnings

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