Business

World Bank cuts 2015 Malaysia GDP forecast

PUTRAJAYA: The World Bank has cut its 2015 growth forecast for Malaysia’s economy to 4.7% from an earlier estimate of 4.9% on expectations of slower export growth and investments in the oil and gas industry as well as moderate private consumption next year.

Inflation up 3% in November

PETALING JAYA: Inflation rate, measured by the consumer price index (CPI), rose 3% in November from 2.8% in October, exceeding economists’ forecast of a slower-paced 2.7% growth.

Nirvana CEO: Opportunity to accumulate shares

HONG KONG: Integrated death care service provider Nirvana Asia Ltd that made its debut amid weak market sentiments on the Hong Kong Exchange yesterday feels the current valuation provides an opportunity for investors to accumulate the shares.

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Khazanah, upset with Jentayu, postpones meeting

KUALA LUMPUR: Khazanah Nasional Bhd is dismayed with Jentayu Danaraksa Sdn Bhd's "unprofessionalism" in presenting its proposed complementary plan to rescue ailing Malaysia Airlines (MAS), describing it as "a very unusual way of conducting business in corporate Malaysia", sources said on Thursday.

18 December 2014 | 1:08PM |

Airlines

Bursa Malaysia issues UMA query to Pan Malaysia

KUALA LUMPUR: Pan Malaysia Holdings Bhd has been issued an Unusual Market Activity (UMA) query from Bursa Malaysia Securities on Thursday for the group's recent rise in price and volume.

18 December 2014 | 12:45PM |

Markets

KLCI continues recovery, up 20 points at midday

KUALA LUMPUR: The gloom seems to have lifted as the local stock market continues to build on Wednesday’s reverse of negative downtrend when the FBM KLCI gained 7.96 points to 1,681.9 at the close. By midday today, the index had climbed 20.3 point to 1,702.2 – a gain of 1.21%.

18 December 2014 | 12:45PM |

Stocks

Jentayu snubbed by Khazanah on offer to buy airlines

PETALING JAYA: Officials of Jentayu Danaraksa Sdn Bhd are disappointed that Khazanah Nasional Bhd cancelled a scheduled appointment with them, dashing their plan that could save 6,000 jobs at Malaysia Airlines (MAS).

17 December 2014 | 12:00AM |

Airlines

OWG opens flat at 88 sen on Bursa Malaysia

KUALA LUMPUR: Only World Group Holdings Bhd (OWG) staged a lukewarm debut on the Main Market of Bursa Malaysia Securities on Thursday, opening flat at its offer price of 88 sen.

18 December 2014 | 9:15AM |

Stocks

BIMB Research sees bargain hunting on Bursa

KUALA LUMPUR: BIMB Securities Research expects bargain hunting to continue on Thursday but its upside may be limited by the persistent foreign sell-down thus envisage the FBM KLCI to test the 1,690 level.

18 December 2014 | 8:36AM |

Economy

Wall St rallies after Fed statement; S&P has best day this year

NEW YORK: U.S. stock averages posted their best day this year and the dollar strengthened on Wednesday after the Federal Reserve signaled America's economy was strong enough to handle interest rate hikes in 2015, though it emphasized that shifts in policy would be gradual.

18 December 2014 | 8:15AM |

Economy

ADB trims forecasts for developing Asia

MANILA: The Asian Development Bank (ADB) slightly trimmed its growth forecast for developing Asia for this year and next, but said sliding prices for oil should help economies in the region push through with growth reforms.

18 December 2014 | 12:00AM |

ADB

IBM says cloud business enjoying "breakthrough year"

IBM aims to expand the number of datacentres it offers clients around the world by 25% to meet fast-rising demand for internet-based services, after what a company executive said has been a "breakthrough year" in 2014 for its cloud computing business.

18 December 2014 | 2:42PM |

Foreign News

Khazanah, upset with Jentayu, postpones meeting

KUALA LUMPUR: Khazanah Nasional Bhd is dismayed with Jentayu Danaraksa Sdn Bhd's "unprofessionalism" in presenting its proposed complementary plan to rescue ailing Malaysia Airlines (MAS), describing it as "a very unusual way of conducting business in corporate Malaysia", sources said on Thursday.

18 December 2014 | 1:08PM |

Airlines

Bursa Malaysia issues UMA query to Pan Malaysia

KUALA LUMPUR: Pan Malaysia Holdings Bhd has been issued an Unusual Market Activity (UMA) query from Bursa Malaysia Securities on Thursday for the group's recent rise in price and volume.

18 December 2014 | 12:45PM |

Markets

KLCI continues recovery, up 20 points at midday

KUALA LUMPUR: The gloom seems to have lifted as the local stock market continues to build on Wednesday’s reverse of negative downtrend when the FBM KLCI gained 7.96 points to 1,681.9 at the close. By midday today, the index had climbed 20.3 point to 1,702.2 – a gain of 1.21%.

18 December 2014 | 12:45PM |

Stocks

VS Industry shares up on strong net profit

KUALA LUMPUR: Shares of VS Industry surged at mid-morning on Thursday after the group saw its net profit soar more than 2½ times year-on-year to RM35.2mil from RM9.6mil in the first quarter ended Oct 31, 2014.

18 December 2014 | 11:05AM |

Stocks Analysis

KLCI opens stronger, to test 1,690 level

KUALA LUMPUR: The FBM KLCI kicked off Thursday firmer in tandem with the stronger Asian equities after US stocks enjoyed their strongest session this year when the Federal Reserve sounded upbeat on the economy and promised to be patient in removing policy stimulus.

18 December 2014 | 9:22AM |

Markets

OWG opens flat at 88 sen on Bursa Malaysia

KUALA LUMPUR: Only World Group Holdings Bhd (OWG) staged a lukewarm debut on the Main Market of Bursa Malaysia Securities on Thursday, opening flat at its offer price of 88 sen.

18 December 2014 | 9:15AM |

Stocks

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