Business

Fitch boost for Malaysia short-lived, ringgit hardest hit in Asia

PETALING JAYA: The simmering economic crisis in Greece and weakness in China continued to roil financial markets across the region, with the ringgit being the hardest hit among Asian currencies. Sentiment on the ringgit was further compounded by rising domestic political risk, lingering concerns about 1Malaysia Development Bhd’s massive debt problems and lower oil revenue.

Power pact: (from left) Goh, JAKS CEO Ang Lam Poah and CPECC assistant to president/director of international department Xue Danfeng at the JV signing ceremony.

JAKS to build RM7bil power plant in Vietnam with China partner

KUALA LUMPUR: Pipe-maker JAKS Resources Bhd will partner China Power Engineering Consulting Group Co Ltd (CPECC) in a 50:50 joint venture (JV) to build a power plant in Hai Duong province in Vietnam for US$1.87bil (RM7.05bil).

Govt retains AP policy for used cars

KUALA LUMPUR: The Government still retains the approved permit (AP) policy for the import of used cars, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.

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Investors look and react at the share index in Kuala Lumpur. FAIHAN GHANI/The Star

Malaysian market down on poor sentiments, foreigners continue to sell

PETALING JAYA: The stock market reacted negatively on the back of heightened political risk and the weakening ringgit, falling by nearly 1%. The FTSE Bursa Malaysia KL Composite Index (FBM KLCI) closed 17.19 points lower at 1,717.05 points while the ringgit was sold down further, hitting a 16-year low of RM3.81 to the US dollar.

7 July 2015 | 12:00AM |

market

China stocks tumble again despite support measures

SHANGHAI: Chinese stocks fell sharply on Tuesday, taking no comfort from a slew of support measures unleashed by Beijing in recent days, and unnerved by Chinese Premier Li Keqiang's failure to mention the market chaos in a statement on the economy.

7 July 2015 | 1:44PM |

Markets

KLCI marginally lower at midday break

KUALA LUMPUR: The FBM KLCI narrowed its losses at midday on Tuesday and was down marginally lower in line with the mixed regional markets, as investors chose to stay on the sidelines amidst the ongoing Greece crisis.

7 July 2015 | 12:56PM |

Markets

Facebook executive Sheryl Sandberg joins board of SurveyMonkey

SAN FRANCISCO: Facebook Inc's Chief Operating Officer Sheryl Sandberg is taking a seat on the board of SurveyMonkey, the online polling company that was run by her late husband, Dave Goldberg. SurveyMonkey is a privately held company valued at $2 billion.

7 July 2015 | 11:15AM |

Stocks

Moody’s says 1MDB does not pose systemic risk

HONG KONG: Malaysia’s economy, its banking system and government finances are not under systemic risk from developments at state fund 1Malaysia Development Bhd (1MDB), rating agency Moody’s said on Monday.

7 July 2015 | 12:07AM |

Economy

11 firms bid to build an icon in Bukit Jalil

PETALING JAYA: The Government wants to promote the National Sports Complex (NSC) in Bukit Jalil, Kuala Lumpur as a tourist destination not only during major sporting events. In this respect, it has been working with the private sector to build new infrastructure and put up an iconic feature at the NSC to attract more visitors.

6 July 2015 | 12:00AM |

Construction

Gold falls despite Greek debt crisis

SINGAPORE: Gold fell today as markets awaited news from a eurozone summit to see whether progress would be made in the Greek debt crisis, even as increasing short positions in the precious metal underlined bearish sentiment towards bullion.

7 July 2015 | 12:49PM |

Business News

Tenaga, IJM, DiGi, QL Resources top buys

KUALA LUMPUR: Amid the volatile equities markets, BIMB Securities Research believes that despite difficulties to bottomfish, its top buys are power giant Tenaga Nasional, IJM Corp, DiGi and QL Resources.

7 July 2015 | 2:28PM |

Analyst Reports

China stocks tumble again despite support measures

SHANGHAI: Chinese stocks fell sharply on Tuesday, taking no comfort from a slew of support measures unleashed by Beijing in recent days, and unnerved by Chinese Premier Li Keqiang's failure to mention the market chaos in a statement on the economy.

7 July 2015 | 1:44PM |

Markets

Lessons learnt from the Tulip and Bulb craze

In the 1600s, the tulip craze hit Holland. At the peak of the market, a person could trade a single tulip for an entire estate, and, at the bottom, one tulip was the price of a common onion.

7 July 2015 | 1:16PM |

Investing

KLCI marginally lower at midday break

KUALA LUMPUR: The FBM KLCI narrowed its losses at midday on Tuesday and was down marginally lower in line with the mixed regional markets, as investors chose to stay on the sidelines amidst the ongoing Greece crisis.

7 July 2015 | 12:56PM |

Markets

Gold falls despite Greek debt crisis

SINGAPORE: Gold fell today as markets awaited news from a eurozone summit to see whether progress would be made in the Greek debt crisis, even as increasing short positions in the precious metal underlined bearish sentiment towards bullion.

7 July 2015 | 12:49PM |

Business News

Facebook executive Sheryl Sandberg joins board of SurveyMonkey

SAN FRANCISCO: Facebook Inc's Chief Operating Officer Sheryl Sandberg is taking a seat on the board of SurveyMonkey, the online polling company that was run by her late husband, Dave Goldberg. SurveyMonkey is a privately held company valued at $2 billion.

7 July 2015 | 11:15AM |

Stocks

Ringgit opens weaker against dollar

KUALA LUMPUR: The ringgit opened weaker against the US dollar on lack of demand following negative sentiment brought about by Greece's debt crisis.

7 July 2015 | 10:20AM |

Forex

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