Business

Najib didn't take our money, insists 1MDB

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) insists that none of its funds went to Prime Minister Datuk Seri Najib Tun Abdul Razak.

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

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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.

3 July 2015 | 12:00AM |

Airlines

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

JAKS Resources to make a material announcement

KUALA LUMPUR: JAKS Resources Bhd, whose share price has risen over 17% over the last week, has requested for the trading of its shares to be suspended with effect from 9.00am on Monday, July 6, pending a material announcement.

3 July 2015 | 6:03PM |

Corporate News

Greek PM defends vote, demands 30% debt haircut

ATHENS: Greece’s Prime Minister Alexis Tsipras on Friday defended a weekend referendum he hopes will reset bailout negotiations and demanded creditors forgive a third of the country’s debt and allow delayed repayments for the rest.

3 July 2015 | 10:39PM |

Foreign News

JAKS Resources to make a material announcement

KUALA LUMPUR: JAKS Resources Bhd, whose share price has risen over 17% over the last week, has requested for the trading of its shares to be suspended with effect from 9.00am on Monday, July 6, pending a material announcement.

3 July 2015 | 6:03PM |

Corporate News

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