Business

Foreign buying helps nudge KLCI up 21 pts in late trade (Update)

KUALA LUMPUR: Another day of late buying by foreign funds helped send the FBM KLCI up more than 21 points on Monday after a rather lacklustre day, with buying seen in telcos, UMW and Genting Bhd.

Maybank opens first branch in Yangon

KUALA LUMPUR: Malayan Banking Bhd (Maybank) opened its first branch in Yangon on Monday which will strengthen the group’s international footprint.

After five-week shut down, Greek stocks plunge (Update)

ATHENS: Greece's stock market suffered heavy losses on Monday, plunging nearly 23 percent at the open before recovering slightly, after a five-week shutdown brought on by fears the country was about to be dumped from the euro zone.

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Yong Tai inks MoUs for RM7b GDV projects

KUALA LUMPUR: Yong Tai Bhd has entered into five MoUs which would provide it with five potential property development projects with a combined gross development value (GDV) of approximately RM7bil over the next eight years.

3 August 2015 | 6:43PM |

Corporate News

Myth: You get what you pay for

EVER had someone tell you “you get what you pay for?” May be true in some circumstances; like when you pay RM40,000 for a Myvi, you don’t expect the performance of a RM300,000 BMW, do you?

3 August 2015 | 12:00AM |

Personal Finance

Mohammad Faiz appointed MIA president

KUALA LUMPUR: The Malaysian Institute of Accountants (MIA) has announced the appointments of Datuk Mohammad Faiz Azmi and Datuk Zaiton Mohd Hassan as its new president and vice-president, respectively, for a new term effective July 27.

3 August 2015 | 7:09PM |

Leadership

CPO futures prices to stay at current level

KUALA LUMPUR: Crude palm oil futures prices are expected to stay at current levels, with sentiment dampened by higher stocks and output, said Malaysian Palm Oil Council chairman Datuk Lee Yeow Chor.

3 August 2015 | 2:55PM |

Business

Areva to explore bringing in Chinese investor

PARIS: Areva will seek partnerships with Chinese energy companies that could see them take stakes in the French nuclear reactor maker in an upcoming multi-billion euro capital increase, its chairman told the Journal de Dimanche.

3 August 2015 | 12:00AM |

Stocks

AmResearch upgrades Westports to Buy from Hold

KUALA LUMPUR: AmResearch has upgraded Westports to Buy from Hold with a higher fair value of RM4.87 a share based on management’s expectations of a container tariff hike that could be announced in the next few months.

3 August 2015 | 9:46AM |

Analyst Reports

Commodities, currencies and China in limelight

New York: Commodities and currencies may continue to be in the spotlight for investors this week, as prospects for a Federal Reserve interest rate rise and the Chinese stock market slump work their way around global markets.

3 August 2015 | 2:09PM |

Business

AIG profit beats estimates, boosts buyback by US$5bil

NEW YORK: American International Group Inc, the largest commercial insurer in the United States and Canada, reported a quarterly operating profit that breezed past analysts' estimates, and boosted its share buyback by up to US$5 billion.

4 August 2015 | 6:40AM |

Stocks

Pressure on Malaysian ringgit remains unabated

PETALING JAYA: At RM3.85 to the US dollar, the selling pressure on the ringgit remains unabated on the back of two probable developments – first, the widely speculated put option that traders had gone into a few months ago offering RM4 for every US dollar.

4 August 2015 | 12:00AM |

Economy

Yong Tai signs 5 MoUs involving 5 property projects with GDV of RM7bil

PETALING JAYA: Garment-maker-turned-property developer Yong Tai Bhd has entered into five separate memorandums of understanding (MoUs) to acquire land and businesses that can provide the company with five potential property development projects in the Klang Valley, Malacca and Johor. Yong Tai told Bursa the five projects were expected to carry a combined gross development value (GDV) of RM7bil over the next eight years.

4 August 2015 | 12:00AM |

Stocks

US stocks open busy data week mixed

NEW YORK: Wall Street stocks were mixed early Monday as a heavy week of US economic reports and earnings kicked off with data showing a slight rise in consumer spending in June.

3 August 2015 | 10:26PM |

Foreign News

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