Business

Ultimatum for Malaysia Airlines unions

PETALING JAYA: The proposed law governing Malaysia Airlines Bhd (MAB), the new company that will take over Malaysian Airlines System Bhd (MAS), spells out clearly the terms that ensure unions and associations come to the negotiating table within a stipulated timeframe or risk losing out in any decision-making.

Khazanah is looking to re-negotiate MAS’ contracts with the employees and suppliers, as well as reducing the workforce by some 6,000 people.

Full immunity for Malaysia Airlines administrator

PETALING JAYA: The administrator of Malaysia Airlines (MAS) will have full immunity when exercising its power in running the operations of the national carrier.

Ooi (left) and Tey speaking to the media.

Drama at Protasco EGM, new twist in boardroom russel

KUALA LUMPUR: It was supposed to be D-Day for Protasco Bhd shareholders as they were to vote on removing company directors at an EGM.

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Kuwait Finance House CEO resigns

PETALING JAYA: Datuk Seri Abdul Hamidy Abdul Hafiz, the chief executive officer (CEO) of Kuwait Finance House (M) Bhd (KFH), has tendered his resignation.

27 November 2014 | 12:00AM |

Stocks

National Automotive Policy review in mid-January

KUALA LUMPUR: The International Trade and Industry Ministry plans to reveal the progress of the National Automotive Policy (NAP) 2014 and announce details of a few companies that have decided to set up facilities for energy-efficient vehicles (EEV) here in the middle of next January.

26 November 2014 | 12:00AM |

Auto

KNM Q3 earnings soar 160% to RM16.44m

KUALA LUMPUR: KNM Group Bhd saw its net profit jump almost 160% to RM16.44mil in the third quarter ended Sept 30, 2014 from RM6.32mil due to better margin contribution and lower operating cost.

26 November 2014 | 3:25PM |

Corporate News

Malaysia on track to reduce budget deficit to below 3%

PETALING JAYA: Following the recent softening in oil prices, Malaysia’s current account surplus would narrow marginally, but the country would able to achieve its fiscal deficit target for this year and 2015, said International Monetary Fund (IMF).

26 November 2014 | 12:00AM |

Economy

Telekom Malaysia Bhd Tan Sri Zamzamzairani.

Telekom Malaysia posts Q3 earnings of RM188.85m

KUALA LUMPUR: Telekom Malaysia Bhd posted earnings of RM188.85mil in the third quarter ended Sept 30, down 21.6% from RM240.88mil a year ago on higher operating costs and tax charges but it remains upbeat for the year.

26 November 2014 | 1:41PM |

Corporate News

Airport train service expands capacity, buys six trains

KUALA LUMPUR: Express Rail Link Sdn Bhd (ERLSB), the owner and operator of the country’s international airport express train service, is acquiring six new four-car trains from China to boost its capacity by 50% to meet the growing ridership.

26 November 2014 | 12:00AM |

Stocks

Honda recalled cars with Takata air bags in 2002

DETROIT: Honda Motor Co recalled a small number of cars equipped with Takata Corp air bags in March 2002, two years before the first known injury that Honda and Takata have linked to a defective air bag inflator, Reuters has learned.

27 November 2014 | 7:14AM |

Honda recalled cars with Takata air bags in 2002

DETROIT: Honda Motor Co recalled a small number of cars equipped with Takata Corp air bags in March 2002, two years before the first known injury that Honda and Takata have linked to a defective air bag inflator, Reuters has learned.

27 November 2014 | 7:14AM |

Thomas Cook hit by shock CEO departure, slowing growth

LONDON: British holiday company Thomas Cook defended its decision to replace Chief Executive Harriet Green on Wednesday after the abrupt departure of the woman credited with reviving the business hammered its shares.

27 November 2014 | 6:56AM |

Stocks

New US home sales rise in Oct, but Sept revised down

WASHINGTON: Sales of new U.S. single-family homes rose for a third straight month in October, but a downward revision to the prior month's sales pace indicated the housing market recovery would remain gradual.

27 November 2014 | 6:53AM |

Property

S&P 500 ends at record high boosted by tech shares

NEW YORK: U.S. stocks rose on Wednesday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows.

27 November 2014 | 6:46AM |

Stocks

Kuwait Finance House CEO resigns

PETALING JAYA: Datuk Seri Abdul Hamidy Abdul Hafiz, the chief executive officer (CEO) of Kuwait Finance House (M) Bhd (KFH), has tendered his resignation.

27 November 2014 | 12:00AM |

Stocks

YFG's RM256mil contract in Sabah terminated

PETALING JAYA: YFG Bhd’s RM255.9mil contract for the commercial and 27-storey waterfront condominium property project in Sabah has been terminated by Palikota Sdn Bhd.

27 November 2014 | 12:00AM |

Stocks

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