Business

TNB unable to determine impact of lower energy prices yet

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is unable to determine the impact of lower energy prices and the weaker ringgit on the company and will not be adjusting tariffs yet.

Ahmad Phesal (2nd from left) exchanging documents with Suhaimi. With them are (from left) DBKL deputy director general for project implementation Datuk Mohd Najib Mohammad, DBKL board of advisors Wilson Lau and DBKL deputy director general Datuk Normah Malik.

Tie-up on zero-emission vehicle charging stations

KUALA LUMPUR: KL Electric Mobility Sdn Bhd (KLEM), a wholly-owned subsidiary of US-based Masers Energy Inc, is investing RM1.5bil to set up 3,000 charging stations for zero-emission vehicles within Kuala Lumpur’s Golden Triangle over the next two years.

Malaysia’s economy will stay resilient next year

KUALA LUMPUR: Malaysia’s economy will still be healthy and resilient next year even though it is facing the problem of lower crude oil prices and a weaker currency, said Deputy Finance Minister I Datuk Ahmad Maslan.

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According to UBS, Bank Negara is likely to cut its overnight policy rate  by 25 basis points in 2015, with lower oil prices cushioning the pressure on inflation.

Bank Negara likely to cut OPR in 2015, says UBS

KUALA LUMPUR: Bank Negara Malaysia is likely to cut its overnight policy rate (OPR) by 25 basis points in 2015, as the fall in the oil prices would cushion the pressure on inflation, according to UBS.

19 December 2014 | 4:41PM |

Economy

Depleted Indonesian oil field is window into China's corruption crackdown

LIMAU, Indonesia: In a muddy clearing in southern Sumatra, a portable diesel power plant hammers away alongside a wellhead, struggling to extract crude from a depleted reservoir that lies below farmland and rubber plantations. It was much easier to extract cash from a state-owned Chinese oil giant.

19 December 2014 | 8:15AM |

Oil & Gas

Ahmad Maslan: 1MDB should engage more with the public

KUALA LUMPUR: The management of state investment fund 1Malaysia Development Bhd (1MDB) should increase public engagement to be more transparent and avoid any unclear accusations against the company, said Deputy Finance Minister I Datuk Ahmad Maslan.

19 December 2014 | 12:00AM |

Stocks

Chinese shopping 'agents' cash in on Russian currency slide

SHANGHAI: In Blagoveshchensk on Russia's side of the Chinese border, Mou Jiani has turned her home into a warehouse, stocking up on Apple Inc iPhones, handbags and milk powder to sell back home as Chinese shoppers take advantage of the rouble's slide.

19 December 2014 | 7:06AM |

Banking

Due diligence on 1MDB plant still ongoing

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is still conducting its due diligence to decide whether it will take up a stake in 1Malaysia Development Bhd’s (1MDB) Jimah East coal-fired power plant.

19 December 2014 | 12:00AM |

Stocks

According to UBS, Bank Negara is likely to cut its overnight policy rate  by 25 basis points in 2015, with lower oil prices cushioning the pressure on inflation.

Bank Negara likely to cut OPR in 2015, says UBS

KUALA LUMPUR: Bank Negara Malaysia is likely to cut its overnight policy rate (OPR) by 25 basis points in 2015, as the fall in the oil prices would cushion the pressure on inflation, according to UBS.

19 December 2014 | 4:41PM |

Economy

Maybank's Anfin Bhd holds final meeting

KUALA LUMPUR: Malayan Banking Bhd (Maybank) said one of its units Anfin Bhd, which had been placed under members' voluntary liquidation on May 26, 2004 has held its final meeting on Thursday.

19 December 2014 | 1:10PM |

Corporate News

KLCI up 15 points at midday

KUALA LUMPUR: The local stock market is continuing its climb on Friday after two days of positive runs, adding 0.91% at the break, as the mood stays bright in equity markets around the world from the Fed’s upbeat assessment of the US economy and its promise to go easy on raising interest rates.

19 December 2014 | 12:57PM |

Stocks

Workers walk back to a construction site after their lunch break in Beijing. The National Bureau of Statistics has revised up the estimated size of China's economy for 2013 by 3.4% to 58.8 trillion yuan (US$9.5tril) - AFP Photo.

China 2013 GDP revised up, won’t affect 2014 growth

BEIJING: China has revised up the estimated size of its economy for 2013 by 3.4% to 58.8 trillion yuan (US$9.5tril), the National Bureau of Statistics said on Friday, but said the revision would not affect economic growth this year.

19 December 2014 | 11:30AM |

Foreign News

EU leaders agree investment package to boost economy

BRUSSELS: European Union leaders endorsed a new investment programme intended to kick-start economic growth in the bloc at a summit in Brussels, which its chairman said would end late on Thursday, half a day earlier than planned.

19 December 2014 | 10:27AM |

Economy

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