Business

Bank Negara stemming the decline of the ringgit

PETALING JAYA: As the downward pressure on the ringgit mounts, Bank Negara has adopted gentle suasion methods to stem the decline.

Gold heads for longest weekly losing streak in 16 years

MANILA: Gold slipped to near 5-1/2-year lows on Friday and was on course for a sixth straight weekly fall, its longest retreat since 1999, after upbeat U.S. economic data strengthened expectations for a near-term hike in interest rates.

Trade payment defaulters on the rise, stringent checks needed

PETALING JAYA: There is a gradual increase in trade payment defaulters faced by participating members of RAM Credit Information Sdn Bhd (RAMCI). Those extending credit should practise stringent checks

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Maybank and CIMB drive KLCI’s rebound

KUALA LUMPUR: Maybank and CIMB underpinned the FBM KLCI’s technical rebound on Friday, the final day of July, and sent the index up nearly 1.4% in line with the firm regional markets.

31 July 2015 | 7:07PM |

Forex

Oil prices fall on OPEC comments

SINGAPORE: Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cut-back in production, although a fall in the U.S. dollar put a floor under prices.

31 July 2015 | 11:20AM |

Economy

Bursa Malaysia reprimands and fines Lim Yin Chow

KUALA LUMPUR: Bursa Malaysia has reprimanded and imposed a fine of RM30,000 on Lim Yin Chow, a former non-executive director of Stemlife Bhd, Signature International Bhd and Rev Asia Bhd for submitting false information on his education qualifications.

30 July 2015 | 2:54PM |

Business News

Public Bank net profit up 13% to RM1.2bil

PETALING JAYA: Public Bank Bhd’s (PBB) net profit was up 13.29% to RM1.2bil on the back of a 16.72% jump in revenue to RM4.74bil for its second quarter to June 30. The better earnings were mainly due to a healthy growth in loans and deposits, and stable asset quality.

31 July 2015 | 12:00AM |

Banking

New card: (From left) Visa Malaysia country manager Ng Kong Boon, UOB Malaysia executive director and cards and payment products head Sue Wong and Annie Tan launching the new UOB PRVI Miles credit card.

UOB launches new credit card, especially for travellers

PETALING JAYA: United Overseas Bank (M) Bhd (UOB Malaysia) has launched a new credit card, UOB PRVI Miles, especially for customers who travel a lot. UOB Malaysia managing director and country head of personal financial services Annie Tan said the launch of the UOB PRVI Miles card was timely.

31 July 2015 | 12:00AM |

Banking

Airbus H1 profit rises, takes new A400M charge

PARIS: Airbus Group posted a 6 percent rise in first-half core operating profit and revenue on Friday, and confirmed its full-year financial forecasts, as underlying gains in passenger jets and helicopters offset more bad news for the A400M transporter.

31 July 2015 | 2:14PM |

Airlines

KAF posts Q4 net losses of RM797,000

KUALA LUMPUR: KAF-Seagroatt & Campbell Bhd, which is being taken over by KAF Investment Bank Bhd (KAFIB), posted net losses of RM797,000 in the fourth quarter ended May 31, 2015.

31 July 2015 | 8:17PM |

Corporate News

Maybank and CIMB drive KLCI’s rebound

KUALA LUMPUR: Maybank and CIMB underpinned the FBM KLCI’s technical rebound on Friday, the final day of July, and sent the index up nearly 1.4% in line with the firm regional markets.

31 July 2015 | 7:07PM |

Forex

El Nino may hasten rebound in sugar prices

LONDON: An El Nino weather pattern damaging sugar crops may mean global demand will outstrip production to a greater extent than expected in the upcoming season, hastening a rebound in prices from a 6-1/2 year low hit last month.

31 July 2015 | 3:40PM |

Business News

Asian imports of Iran oil rise 13% in June

TOKYO: Asian imports of Iranian crude oil rose from a year ago in June, the last month before a landmark agreement that will eventually lead to more exports from the country was reached on Tehran's disputed nuclear programme.

31 July 2015 | 3:07PM |

Business News

IAG on track to meet annual target

LONDON: British Airways owner IAG, close to sealing its takeover of Aer Lingus, reported a forecast-beating 40% rise in quarterly profit, which it said put it on track to meet its annual target.

31 July 2015 | 2:28PM |

Business

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