Business

Greece sets capital controls, 6-day bank shutdown

ATHENS: Greece imposed capital controls and ordered banks to close temporarily after the European Central Bank froze a vital financial lifeline following the breakdown of bailout talks between Athens and foreign creditors.

Eastern & Oriental sees over 3,000 people registering for Tower 1B of Tamarind project

KUALA LUMPUR: Over 3,000 people registered their interest with Eastern & Oriental Bhd (E&O) for Tower 1B of The Tamarind, which was its first executive apartments project, at the Seri Tanjung Pinang development on Penang island.

PPB confident Puteri Harbour project will succeed despite property glut reports

NUSAJAYA: PPB Group Bhd is upbeat that its newly launched integrated waterfront development in Puteri Harbour will attract strong interest from local and foreign buyers. Its managing director Lim Soon Huat said that despite negative news reports on Iskandar Malaysia’s property market outlook due to possible property glut, the company was confident that its project would do well

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Asia Forex hit: Ringgit around 9-1/2-yr low

SINGAPORE: Emerging Asian currencies lost ground on Monday with the Malaysian ringgit around a 9-1/2-year low as Greece was seen on course to a default on its debt repayment this week, causing investors to seek safer assets.

29 June 2015 | 9:56AM |

Banking

KLCI slips below 1,700 level (Update)

KUALA LUMPUR: The FBM KLCI fell below the critical 1,700 level in mid-morning Monday trade as key Asian markets skidded as risks of Greece defaulting on its debt repayment this week spiked dramatically and Athens imposed capital controls to halt bank runs.

29 June 2015 | 9:34AM |

Markets

Beating credit card interest charges

In any financial article which highlights about getting credit from financial institutions, you will come across the importance of interest rate as one of the considerations.

28 June 2015 | 1:40PM |

Felda Global Ventures’ reply on Eagle High deal

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) notes the publication of two articles in StarBizWeek dated Saturday, June 20 on Page 6 (Eagle High Anxiety) and Page 14 (Why Felda is under fire for Rajawali deal).

29 June 2015 | 12:00AM |

Stocks

Furniture export value to boost

KUALA LUMPUR: The Malaysian average furniture export value of RM8bil is expected to increase to RM16bil by 2020 via the Malaysian Timber Industry Board's (MTIB) Professional Designers Programme (PDP).

29 June 2015 | 12:39PM |

Business News

Companies respond to crisis in Greece

Greeks woke up to closed banks and cash machines on Monday as a breakdown in talks between Athens and its creditors plunged the country into crisis. Following are reactions from companies (in alphabetical order):

30 June 2015 | 6:54AM |

Stocks

Greek drama not likely to waylay Federal Reserve's rate hike

WASHINGTON: The fuse may be lit for a Greek exit from the euro zone but the fallout in the United States is expected to be modest and not enough to throw the Federal Reserve's likely September rate hike off course, said former Fed officials and outside analysts watching the latest turn in Greece's crisis.

30 June 2015 | 6:50AM |

Banking

Anti-austerity protests in Greece as bank shutdown bites

ATHENS: Tens of thousands of Greeks rallied on Monday to back their leftwing government's rejection of a tough international bailout after a clash with foreign lenders pushed Greece close to financial chaos and forced a shutdown of its banking system.

30 June 2015 | 6:46AM |

Stocks

Microsoft hands display ads to AOL, maps to Uber

SEATTLE: Microsoft Corp said on Monday it will hand over its display advertising business to AOL Inc and AppNexus Inc, and sell some map-generating technology to ride-hailing app company Uber, as it slims down its money-losing online operations.

30 June 2015 | 6:38AM |

Stocks

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