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.

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.

Mobius: Strong growth story from emerging markets

KUALA LUMPUR: Templeton Emerging Markets Group’s head Mark Mobius sees a lot of upside from emerging markets, especially with the strong growth story.

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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

S&P sees worldwide sukuk issuance setting to stall in 2015

KUALA LUMPUR: Standard & Poor's Ratings Services foresees the global Sukuk market heading toward a correction in 2015 after Bank Negara Malaysia (BNM) -- one of the largest issuers of Sukuk worldwide -- stopped issuing earlier this year.

7 July 2015 | 4:45PM |

Banking

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

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

S&P sees worldwide sukuk issuance setting to stall in 2015

KUALA LUMPUR: Standard & Poor's Ratings Services foresees the global Sukuk market heading toward a correction in 2015 after Bank Negara Malaysia (BNM) -- one of the largest issuers of Sukuk worldwide -- stopped issuing earlier this year.

7 July 2015 | 4:45PM |

Banking

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