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

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

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

Alkhair Islamic Bank eyes acquisitions in S-E Asia

KUALA LUMPUR: Alkhair International Islamic Bank Bhd, which had previously eyed a stake in Bank Islam Bhd, is looking at potential acquisitions in South-East Asia to expand its banking footprint in the region.

6 July 2015 | 12:00AM |

Stocks

KLCI sees over 17 pts erased, ringgit at 16-year low (Update)

KUALA LUMPUR: Key Asian markets except for China closed sharply lower on Monday, following Greeks’ move to reject the bailout terms, while the FBM KLCI lost more than 17 points on continued selling by foreign funds and the ringgit sunk to a 16-year low.

6 July 2015 | 5:47PM |

Forex

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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