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CIMB Q2 earnings at RM640m on higher allowance for impairments

28 August 2015

KUALA LUMPUR: CIMB Group Bhd reported net profit of RM639.75mil in the second quarter ended June 30, 2015 on higher loan loss provisions mainly from Indonesia in an increasingly challenging operating environment.

British payments glitch at HSBC leaves thousands without wages

28 August 2015

HSBC reported a computer glitch on Aug 28 which it said prevented some of its British business customers from making payments, leaving thousands of workers without wages ahead of a three-day weekend.

Nokia agrees on "Shanghai Bell" joint venture with China Huaxin

28 August 2015

Finnish telecom equipment maker Nokia said it had agreed to create a Chinese joint venture with Huaxin in a move that could pave the way for China's approval for Nokia's proposed takeover of Alcatel-Lucent.

IHH buys India's Global Hospitals for RM819m

28 August 2015

KUALA LUMPUR/MUMBAI: Malaysia's IHH Healthcare Bhd, the world's second-biggest healthcare firm by market value, is buying a 73.4 percent stake in India-based Ravindranath GE Medical Associates Private Ltd for RM819mil (US$195mil).

Pentagon teams up with Apple, Boeing to develop wearable tech

28 August 2015

The Pentagon is teaming up with Apple, Boeing, Harvard and others to develop high-tech sensory gear flexible enough to be worn by people or moulded onto the outside of a jet.

Maybank, CIMB and oil stocks underpin KLCI’s gains

28 August 2015

KUALA LUMPUR: Maybank, CIMB and petroleum stocks underpinned the blue chips advance on Friday – the fourth straight day of gains – as the FBM KLCI closed comfortably above the 1,600 level.

Oil steadies after strong gains as equities rally

28 August 2015

LONDON: Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong U.S. economic growth and news of low crude supplies from Nigeria.

Olam gets new backer as Mitsubishi spends $1.1 bln on 20 pct stake

28 August 2015

SINGAPORE: Mitsubishi Corp's decision to spend $1.1 billion for one fifth of Olam International is a key vote of confidence that will allow the Singapore agri-trader to exploit M&A opportunities thrown up by the slump in the global commodities market.

Myanmar airport project delayed by four years on fund shortage

28 August 2015

YANGON: A long-delayed international airport project in Myanmar has been postponed again, by four years this time, because of a delay in securing funds, state media and an official source said on Friday.

Uber China closes US$1bil fundraising round: sources

28 August 2015

Uber Technologies Inc's China arm has closed its US$1bil (RM4.18bil) fundraising round early, with investors still hopeful for the US-based ride service despite strong domestic competition.

China stocks rise sharply on signs of fresh government support

28 August 2015

SHANGHAI: China stocks surged on Friday, encouraged by strong gains on Wall Street and signs of fresh support from Beijing after a five-day plunge that panicked global markets.

Thai July factory output falls for 5th month, adds to economic woes

28 August 2015

BANGKOK: Thai factory output fell less than expected in July on strong growth in the auto sector, but a fifth month of persistently weak production will be a challenge for the new economic team tasked with revitalising Thailand's economy.

China's Unigroup chairman visiting US to discuss Micron bid: sources

28 August 2015

The chairman of China's Tsinghua Unigroup travelled to the US this week to meet with board members of Micron Technology and try to revive a politically fraught takeover bid of the US chipmaker, said sources.

Messaging app Line says still considering IPO

28 August 2015

Popular Japanese messaging app Line said it was still considering plans for an initial public offering, after a report said it had shelved the sale for a second year in a row.

Days numbered for barcodes as shoppers demand more data

28 August 2015

Growing demand for more information about the products we buy could mean the end of the simple barcode – the blocks of black and white stripes that adorn most objects for sale and are scanned five billion times a day.

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