Business

Ultimatum for Malaysia Airlines unions

PETALING JAYA: The proposed law governing Malaysia Airlines Bhd (MAB), the new company that will take over Malaysian Airlines System Bhd (MAS), spells out clearly the terms that ensure unions and associations come to the negotiating table within a stipulated timeframe or risk losing out in any decision-making.

Khazanah is looking to re-negotiate MAS’ contracts with the employees and suppliers, as well as reducing the workforce by some 6,000 people.

Full immunity for Malaysia Airlines administrator

PETALING JAYA: The administrator of Malaysia Airlines (MAS) will have full immunity when exercising its power in running the operations of the national carrier.

Ooi (left) and Tey speaking to the media.

Drama at Protasco EGM, new twist in boardroom tussle

KUALA LUMPUR: It was supposed to be D-Day for Protasco Bhd shareholders as they were to vote on removing company directors at an EGM.

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Kuwait Finance House CEO resigns

PETALING JAYA: Datuk Seri Abdul Hamidy Abdul Hafiz, the chief executive officer (CEO) of Kuwait Finance House (M) Bhd (KFH), has tendered his resignation.

27 November 2014 | 12:00AM |

Stocks

Magnum Q3 Q3 earnings down nearly 30% to RM45m

KUALA LUMPUR: Number forecast operator Magnum Bhd’s earnings fell 29.8% to RM45.42mil in the third quarter ended Sept 30, 2014 from RM64.77mil a year ago due to losses incurred by its investment holdings segment, mainly attributed to fair value losses of quoted investments.

27 November 2014 | 6:43PM |

Corporate News

Asia shares edge higher, oil tumbles to 4 year low

TOKYO: Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded.

27 November 2014 | 11:47AM |

Markets

Foreign funds turn net sellers on Bursa Malaysia

KUALA LUMPUR: Malaysia’s blue chips slipped in early Thursday trade on some selling on Telekom Malaysia, Petronas Dagangan and SapuraKencana Petroleum (SKPetro) after the recent buying interest while foreign funds were net sellers the previous day.

27 November 2014 | 9:35AM |

Corporate News

Perak Corp 3Q earnings up 300% to RM24m

KUALA LUMPUR: Perak Corporation Bhd’s earnings jumped 300% to RM24.20mil in the third quarter ended Sept 30, 2014 from RM7.87mil a year ago, boosted by land sales under its township development.

27 November 2014 | 6:17PM |

Corporate News

The headquarters of Commerzbank (centre) juts out between the euro sign and the ECB in Frankfurt, Germany. The announcement by one of the country’s biggest lenders, Commerzbank, that it will start charging clients with high deposits on their accounts has angered many. — EPA

ECB’s negative interest rates under fire in Germany

FRANKFURT: The European Central Bank (ECB) is under fire in Germany because of its policy of negative interest rates, which is prompting some banks to charge customers for holding money in their bank accounts.

27 November 2014 | 12:00AM |

Stocks

FGV’s Q3 revenue up 34% to RM4.32b

KUALA LUMPUR: Driven by the consolidation of Felda Holdings Bhd (FHB) and Pontian United Plantations Bhd (PUP), Felda Global Ventures Holdings Bhd’s (FGV) revenue jumped 34% to RM4.32bil for the third quarter ended Sept 30 compared to a year earlier.

27 November 2014 | 1:48PM |

Corporate News

Goldman, BASF, HSBC accused of metals price fixing

NEW YORK: Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals.

26 November 2014 | 10:18AM |

Magnum Q3 Q3 earnings down nearly 30% to RM45m

KUALA LUMPUR: Number forecast operator Magnum Bhd’s earnings fell 29.8% to RM45.42mil in the third quarter ended Sept 30, 2014 from RM64.77mil a year ago due to losses incurred by its investment holdings segment, mainly attributed to fair value losses of quoted investments.

27 November 2014 | 6:43PM |

Corporate News

Perak Corp 3Q earnings up 300% to RM24m

KUALA LUMPUR: Perak Corporation Bhd’s earnings jumped 300% to RM24.20mil in the third quarter ended Sept 30, 2014 from RM7.87mil a year ago, boosted by land sales under its township development.

27 November 2014 | 6:17PM |

Corporate News

Tenaga, Maybank, DiGi weigh on KLCI

KUALA LUMPUR: Fund selling of Tenaga, Maybank and DiGi dragged the FBM KLCI into the red at the close of Thursday’s trade, snapping a three-day rally following disappointing corporate earnings and weak oil price.

27 November 2014 | 5:42PM |

Corporate News

FGV’s Q3 revenue up 34% to RM4.32b

KUALA LUMPUR: Driven by the consolidation of Felda Holdings Bhd (FHB) and Pontian United Plantations Bhd (PUP), Felda Global Ventures Holdings Bhd’s (FGV) revenue jumped 34% to RM4.32bil for the third quarter ended Sept 30 compared to a year earlier.

27 November 2014 | 1:48PM |

Corporate News

Singapore central bank may do more to contain household debt

SINGAPORE: Some highly leveraged households in Singapore may be vulnerable if interest rates rise or the economy slows, its central bank said on Thursday, adding that it will take more steps if needed to keep household debt at manageable levels.

27 November 2014 | 12:15PM |

Banking

Asia shares edge higher, oil tumbles to 4 year low

TOKYO: Asian stocks hit a one-month high on Thursday as investors bet that more central bank stimulus in China and Europe would shore up the global economy, while oil prices tumbled to a four-year low as hopes for output cuts by OPEC faded.

27 November 2014 | 11:47AM |

Markets

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