Business

1MDB’s power woes

KUALA LUMPUR: The fate of the controversial 3B power plant project that was awarded to 1Malaysia Development Bhd (1MDB) would be known next week. The project that was supposed to be commissioned in stages beginning Oct 1, 2018 is bogged down by delays and so far there has not been any news of its financing being firmed up.

Biodiesel programme in Malaysia and Indonesia key to CPO price stability

KUALA LUMPUR: The continuous implementation of the biodiesel programme in Malaysia and Indonesia would be the key to ensure price stability of crude palm oil (CPO) prices for this year.

Himmat strikes the gong at the launch of MIFF 2015 exhibition. With him are (from left) Tan, UBM Asia president/CEO Jime Essink and UBM Asean managing director M. Gandhi.

Weak ringgit expected to boost furniture industry

KUALA LUMPUR: The local furniture industry will receive a boost from a weaker ringgit, with exports to gain by more than 10%, according to Malaysian International Furniture Fair (MIFF) chairman Datuk Tan Chin Huat.

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Public Bank top gainer among KLCI stocks

KUALA LUMPUR: The FBM KLCI closed higher on Wednesday, underpinned by strong buying support for Public Bank, Petronas Chemicals and YTL but it was evident the broader market was still cautious.

4 March 2015 | 5:48PM |

Markets

Australia orders fast sale of mansion

SYDNEY: Australia announced it was forcing the Chinese owner of a A$39mil (US$30.5mil) Sydney mansion to sell up within 90 days, the first such crackdown on foreign investment in residential real estate since 2006.

4 March 2015 | 12:00AM |

Australia

Brahim’s slides below RM1 to July 2013 low

KUALA LUMPUR: In-flight caterer Brahim’s Holdings Bhd’s share price has come under pressure and it fell below RM1 on Wednesday after it posted net losses of RM40.32mil in the fourth quarter of FY14.

4 March 2015 | 4:44PM |

Airlines

Investigation of politicians sought in Brazil graft scandal

RIO DE JANEIRO: The inquiry into the biggest corruption scandal yet uncovered in Brazil entered an expansive new phase, as the attorney general formally requested the Supreme Court’s permission to open investigations against 54 people, most expected to be top political figures.

4 March 2015 | 3:27PM |

Oil and gas stocks hit by impairments and narrow margins

PETALING JAYA: The fall in oil prices was clearly felt by oil and gas (O&G) companies in the recent results season, where most had to provide for assets that were lower in value based on the latest outlook for the industry and narrowing margins.

3 March 2015 | 12:00AM |

Oil & Gas

Asian shares drift lower in early trade Wed as caution prevails

TOKYO: An index of Asian shares and the dollar both edged down on Wednesday, as investors grew cautious ahead of central bank meetings and U.S. data later in the week. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1 percent in early trade, while Japan's Nikkei stock average fell 0.8 percent.

4 March 2015 | 8:42AM |

Stocks

Public Bank top gainer among KLCI stocks

KUALA LUMPUR: The FBM KLCI closed higher on Wednesday, underpinned by strong buying support for Public Bank, Petronas Chemicals and YTL but it was evident the broader market was still cautious.

4 March 2015 | 5:48PM |

Markets

Brahim’s slides below RM1 to July 2013 low

KUALA LUMPUR: In-flight caterer Brahim’s Holdings Bhd’s share price has come under pressure and it fell below RM1 on Wednesday after it posted net losses of RM40.32mil in the fourth quarter of FY14.

4 March 2015 | 4:44PM |

Airlines

Investigation of politicians sought in Brazil graft scandal

RIO DE JANEIRO: The inquiry into the biggest corruption scandal yet uncovered in Brazil entered an expansive new phase, as the attorney general formally requested the Supreme Court’s permission to open investigations against 54 people, most expected to be top political figures.

4 March 2015 | 3:27PM |

Maybank IB: Banks to raise capital in 2015

KUALA LUMPUR: Capital raising is one of the themes for 2015 for the banking sector, with RHB Capital, Hong Leong Bank and Hong Leong Financial Group (HLFG) coming to the market for equity injections, said Maybank IB Research.

4 March 2015 | 11:29AM |

Banking

China Feb HSBC services PMI up to 52.0 as orders improve

BEIJING: Activity in China's services sector grew modestly in February as new orders rose at their quickest pace in three months, a private survey showed just a few days after the central bank cut interest rates to stimulate the world's second-largest economy.

4 March 2015 | 10:42AM |

Economy

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