Business

Group managing director Datuk Richard Curtis(pic) told StarBiz the recovery in demand for the commodities has enabled the smelting plant in Samalaju Industrial Park, Bintulu to go on full-scale production.

Cahya Mata associate's manganese alloy smelting plant to reach full output in Q3

KUCHING: Cahya Mata Sarawak Bhd (CMS) is expecting its associate company OM Materials (Sarawak) Sdn Bhd’s ferrosilicon and manganese alloy smelting plant to achieve full production by the third quarter of this year.

“We have historically tracked the (rallying) US market more than that in China, but some funds are leaving the US for emerging markets.  “These funds are taking the view that some of the recent strong gains in the US market have chipped away its remaining upside,’’ according to Pong Teng Siew, head of research, InterPacific Securities.

Malaysian market buoyant despite split in major markets

WITH the US and China stock markets going in opposite directions, the impact on the local market is still potentially positive, although it may be on a short timeframe.

“Generally, online grocery shopping is growing at a relatively slow pace, as Malaysians still prefer to shop at traditional markets or grocery stores.  “Consumers still want the physical aspect of grocery shopping.  “They want to touch, see, smell, and pick groceries by hand,” said Ritchie during Star Media Group’s Power Talks Business Series session on Saturday.
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Tesco Malaysia sees better online sales

PETALING JAYA: Tesco Malaysia’s online sales are expected to improve this year, in line with Malaysia’s online shopping growth of 18% per year, said Tesco Stores (Malaysia) Sdn Bhd CEO Paul Ritchie.

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A view of "Elaine", a 7-bedroom Victorian mansion located on the waterfront in the suburb of Point Piper in Sydney on May 1, 2017. - AFP(Inset  Scott Farquhar filepic)

Tech billionare buys Sydney mansion for record US$56mil

SYDNEY: Tech billionaire Scott Farquhar has bought a Sydney waterfront mansion for an Australian record Aus$75 million (US$56 million), a report said Monday, after the owners resisted selling the 1863-built home to developers.

1 May 2017 | 11:11AM |

Property

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent and Japan's Nikkei added 0.1 percent.  Many markets in Asia and Europe are closed for Labour Day

Asian stocks sluggish early Monday after weak US GDP, US$ dips

TOKYO: Asian stocks struggled for traction on Monday after weaker-than-expected U.S. economic growth data, while the dollar dropped against the yen amid tensions over North Korea and slipped versus the euro on evidence of strong euro zone inflation.

1 May 2017 | 8:47AM |

Stocks

Saudi Arabia is pushing a long-term economic transformation dubbed "Vision 2030" to reduce the country's reliance on oil, attract investment and improve the lives of its citizens.  Siemens signed a framework agreement with the Saudi National Industrial Clusters Development Program (NICDP) which the German group said could lead to equipping infrastructure projects worth at least a billion euros. (Siemens logo is pictured at Siemens Healthineers headquarters in Erlangen near Nuremberg, Germany. - Reuters filepic)

Siemens, SAP sign cooperation deals with Saudi Arabia

JEDDAH: Saudi Arabia wants German companies Siemens and SAP to play an important role in furthering the kingdom's "digital transformation", company officials said on Sunday during German Chancellor Angela Merkel's visit to the country.

1 May 2017 | 7:03AM |

Economy

Meeting with the US President: Gou talking to reporters as he exits the White House following a second day of meetings in Washington on Friday

Foxconn’s Gou meets with Trump

TAIPEI: Foxconn Technology Group, the maker of Apple Inc’s iPhones, said it plans a big increase in investments in the US after billionaire chairman Terry Gou visited the White House over consecutive days, including a meeting with President Donald Trump.

1 May 2017 | 12:00AM |

Stocks

Finance Minister Yoo Il-ho added in televised comments he did not expect the free trade agreement will be terminated.

Seoul already working on reducing trade surplus with US

SEOUL: South Korea's finance minister said on Sunday the government was already working on downsizing its trade surplus with the United States, a reference to U.S. President Donald Trump's comments Thursday that Washington will renegotiate or scrap the free trade pact the two countries have.

30 April 2017 | 4:45PM |

Economy

NZ central bank seeks views on bank capital needs

WELLINGTON: New Zealand's central bank called on Monday for consultations on its review of capital requirements to counter risk to the country's banking sector, saying it retained an open mind about any new rules.

1 May 2017 | 1:55PM |

Banking

Blackstone's GSO snaps up J. Crew debt in restructuring gambit

NEW YORK: GSO Capital Partners, private equity firm Blackstone Group LP's credit arm, is acquiring more of J. Crew Group Inc's debt, hoping for a profitable trade that could also give the U.S. fashion retailer more time to stave off bankruptcy, people familiar with the matter said.

1 May 2017 | 1:51PM |

Corporate News

A view of "Elaine", a 7-bedroom Victorian mansion located on the waterfront in the suburb of Point Piper in Sydney on May 1, 2017. - AFP(Inset  Scott Farquhar filepic)

Tech billionare buys Sydney mansion for record US$56mil

SYDNEY: Tech billionaire Scott Farquhar has bought a Sydney waterfront mansion for an Australian record Aus$75 million (US$56 million), a report said Monday, after the owners resisted selling the 1863-built home to developers.

1 May 2017 | 11:11AM |

Property

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent and Japan's Nikkei added 0.1 percent.  Many markets in Asia and Europe are closed for Labour Day

Asian stocks sluggish early Monday after weak US GDP, US$ dips

TOKYO: Asian stocks struggled for traction on Monday after weaker-than-expected U.S. economic growth data, while the dollar dropped against the yen amid tensions over North Korea and slipped versus the euro on evidence of strong euro zone inflation.

1 May 2017 | 8:47AM |

Stocks

Saudi Arabia is pushing a long-term economic transformation dubbed "Vision 2030" to reduce the country's reliance on oil, attract investment and improve the lives of its citizens.  Siemens signed a framework agreement with the Saudi National Industrial Clusters Development Program (NICDP) which the German group said could lead to equipping infrastructure projects worth at least a billion euros. (Siemens logo is pictured at Siemens Healthineers headquarters in Erlangen near Nuremberg, Germany. - Reuters filepic)

Siemens, SAP sign cooperation deals with Saudi Arabia

JEDDAH: Saudi Arabia wants German companies Siemens and SAP to play an important role in furthering the kingdom's "digital transformation", company officials said on Sunday during German Chancellor Angela Merkel's visit to the country.

1 May 2017 | 7:03AM |

Economy

U.S. President Donald Trump’s first 100 days and the next 1,000, as well as the outlook for liberal democracy in Europe in the wake of Brexit are also set for debate at the Milken Institute Global Conference.  The event aims to convene "the best minds in the world to tackle the most stubborn challenges," but political and market surprises over the past year serve as a reminder that predictions made by its roster of elite speakers are far from certain.

Global elite businessmen regroup at Milken conference

BEVERLY HILLS, Calif: Titans of U.S. industry and Wall Street gather in Beverly Hills this week to discuss how to navigate - and profit from - hot topics such as U.S. tax reform, the upcoming French election and Chinese economic growth.

1 May 2017 | 6:44AM |

Economy

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