Business

1MDB’s power woes

KUALA LUMPUR: The fate of the controversial 3B power plant project that was awarded to 1Malaysia Development Bhd (1MDB) would be known next week. The project that was supposed to be commissioned in stages beginning Oct 1, 2018 is bogged down by delays and so far there has not been any news of its financing being firmed up.

Biodiesel programme in Malaysia and Indonesia key to CPO price stability

KUALA LUMPUR: The continuous implementation of the biodiesel programme in Malaysia and Indonesia would be the key to ensure price stability of crude palm oil (CPO) prices for this year.

Himmat strikes the gong at the launch of MIFF 2015 exhibition. With him are (from left) Tan, UBM Asia president/CEO Jime Essink and UBM Asean managing director M. Gandhi.

Weak ringgit expected to boost furniture industry

KUALA LUMPUR: The local furniture industry will receive a boost from a weaker ringgit, with exports to gain by more than 10%, according to Malaysian International Furniture Fair (MIFF) chairman Datuk Tan Chin Huat.

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CI Holdings extends gains after hitting limit-up

KUALA LUMPUR: C.I. Holdings Bhd’s share price extended its gains on Tuesday after hitting limit-up the previous on expectations of a positive corporate exercise, boosted by the sharp improvement in its financial results.

3 March 2015 | 11:22AM |

Corporate News

Apple, Google poaching settlement appears headed for approval

SAN FRANCISCO: A U.S. judge on Monday seemed satisfied with a proposed US$415 million settlement that would end a lawsuit in which tech workers accused Apple Inc, Google Inc and two other Silicon Valley companies of conspiring to hold down salaries.

3 March 2015 | 10:40AM |

Stocks

Asian shares drift lower in early trade Wed as caution prevails

TOKYO: An index of Asian shares and the dollar both edged down on Wednesday, as investors grew cautious ahead of central bank meetings and U.S. data later in the week. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1 percent in early trade, while Japan's Nikkei stock average fell 0.8 percent.

4 March 2015 | 8:42AM |

Stocks

Australia orders fast sale of mansion

SYDNEY: Australia announced it was forcing the Chinese owner of a A$39mil (US$30.5mil) Sydney mansion to sell up within 90 days, the first such crackdown on foreign investment in residential real estate since 2006.

4 March 2015 | 12:00AM |

Australia

Maybank IB: Banks to raise capital in 2015

KUALA LUMPUR: Capital raising is one of the themes for 2015 for the banking sector, with RHB Capital, Hong Leong Bank and Hong Leong Financial Group (HLFG) coming to the market for equity injections, said Maybank IB Research.

4 March 2015 | 11:29AM |

Banking

China Feb HSBC services PMI up to 52.0 as orders improve

BEIJING: Activity in China's services sector grew modestly in February as new orders rose at their quickest pace in three months, a private survey showed just a few days after the central bank cut interest rates to stimulate the world's second-largest economy.

4 March 2015 | 10:42AM |

Economy

AmResearch maintains Buy on IJM

KUALA LUMPUR: AmResearch has maintained its Buy on IJM Corp with a higher fair value of RM8.20/share (RM8.10/share previously), pegged at an unchanged 10% discount to its SOP value.

4 March 2015 | 9:25AM |

Analyst Reports

UK living standards back to pre-crisis level

LONDON: British living standards are back to pre-financial crisis levels but are still slightly below their peak before the country's last national election in May 2010, a leading think tank said on Wednesday.

4 March 2015 | 9:08AM |

Economy

Asian shares drift lower in early trade Wed as caution prevails

TOKYO: An index of Asian shares and the dollar both edged down on Wednesday, as investors grew cautious ahead of central bank meetings and U.S. data later in the week. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1 percent in early trade, while Japan's Nikkei stock average fell 0.8 percent.

4 March 2015 | 8:42AM |

Stocks

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