Business

World Bank cuts 2015 Malaysia GDP forecast

PUTRAJAYA: The World Bank has cut its 2015 growth forecast for Malaysia’s economy to 4.7% from an earlier estimate of 4.9% on expectations of slower export growth and investments in the oil and gas industry as well as moderate private consumption next year.

Inflation up 3% in November

PETALING JAYA: Inflation rate, measured by the consumer price index (CPI), rose 3% in November from 2.8% in October, exceeding economists’ forecast of a slower-paced 2.7% growth.

Nirvana CEO: Opportunity to accumulate shares

HONG KONG: Integrated death care service provider Nirvana Asia Ltd that made its debut amid weak market sentiments on the Hong Kong Exchange yesterday feels the current valuation provides an opportunity for investors to accumulate the shares.

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Asia comforted by strong Wall St, confident Fed

SYDNEY: Asian shares rallied on Thursday after U.S. stocks enjoyed their strongest session this year when the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.

18 December 2014 | 8:17AM |

Economy

Jentayu snubbed by Khazanah on offer to buy airlines

PETALING JAYA: Officials of Jentayu Danaraksa Sdn Bhd are disappointed that Khazanah Nasional Bhd cancelled a scheduled appointment with them, dashing their plan that could save 6,000 jobs at Malaysia Airlines (MAS).

17 December 2014 | 12:00AM |

Airlines

Bursa Malaysia publicly reprimands TH Heavy

KUALA LUMPUR: Bursa Malaysia Securities has publicly reprimanded TH Heavy Engineering Bhd for failing to incorporate adjustments which were made in the annual audited accounts for the year ended Dec 31, 2013.

17 December 2014 | 5:34PM |

Corporate News

Wall St rallies after Fed statement; S&P has best day this year

NEW YORK: U.S. stock averages posted their best day this year and the dollar strengthened on Wednesday after the Federal Reserve signaled America's economy was strong enough to handle interest rate hikes in 2015, though it emphasized that shifts in policy would be gradual.

18 December 2014 | 8:15AM |

Economy

Fed confident on US growth, opens door wider to rate hike

WASHINGTON: The Federal Reserve on Wednesday offered a strong signal that it was on track to raise interest rates sometime next year, altering a pledge to keep rates near zero for a "considerable time" in a show of confidence in the U.S. economy.

18 December 2014 | 8:10AM |

Banking

Russian rouble suffers steepest drop in 16 years

MOSCOW: The rouble plunged more than 11 percent against the US dollar on Tuesday in its steepest intraday fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual rate hike.

17 December 2014 | 7:04AM |

Banking

Abric announces special dividend

PETALING JAYA: Abric Bhd has announced a tax exempt special dividend of 30 sen to shareholders. The dividends go ex on Jan 21, 2015 while the entitlement date is Jan 23, 2015.

18 December 2014 | 12:00AM |

Abric

BIMB Research sees bargain hunting on Bursa

KUALA LUMPUR: BIMB Securities Research expects bargain hunting to continue on Thursday but its upside may be limited by the persistent foreign sell-down thus envisage the FBM KLCI to test the 1,690 level.

18 December 2014 | 8:36AM |

Economy

Asia comforted by strong Wall St, confident Fed

SYDNEY: Asian shares rallied on Thursday after U.S. stocks enjoyed their strongest session this year when the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.

18 December 2014 | 8:17AM |

Economy

Wall St rallies after Fed statement; S&P has best day this year

NEW YORK: U.S. stock averages posted their best day this year and the dollar strengthened on Wednesday after the Federal Reserve signaled America's economy was strong enough to handle interest rate hikes in 2015, though it emphasized that shifts in policy would be gradual.

18 December 2014 | 8:15AM |

Economy

Airbus reshuffle prepares planemaker for record jet output

PARIS: A management reshuffle at Airbus this week marks another step towards focusing Europe's biggest aerospace company on industrial performance rather than the political interests of key shareholders France and Germany, industry sources said.

18 December 2014 | 8:12AM |

Airlines

Fed confident on US growth, opens door wider to rate hike

WASHINGTON: The Federal Reserve on Wednesday offered a strong signal that it was on track to raise interest rates sometime next year, altering a pledge to keep rates near zero for a "considerable time" in a show of confidence in the U.S. economy.

18 December 2014 | 8:10AM |

Banking

RM100mil facility to refurbish tunnel boring machines

BIDOR: MMC Gamuda KVMRT (T) Sdn Bhd (MGKT) will spend about RM100mil to build a facility to refurbish its used tunnel boring machines (TBMs) in preparation for its next tunnelling job, said head of tunnelling Ng Hau Wei.

18 December 2014 | 12:00AM |

MMC-Gamuda

ADB trims forecasts for developing Asia

MANILA: The Asian Development Bank (ADB) slightly trimmed its growth forecast for developing Asia for this year and next, but said sliding prices for oil should help economies in the region push through with growth reforms.

18 December 2014 | 12:00AM |

ADB

Aeon Credit Q3 profit below expectations

PETALING JAYA: The increase in Aeon Credit Service (M) Bhd’s non-performing loan (NPL) ratio at the end of the second quarter of financial year 2015 (FY15) and the soft market ahead may cause investors to stay on the sidelines, says RHB Research.

18 December 2014 | 12:00AM |

Business

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