Business

Spotlight on Bank Negara reserves

PETALING JAYA: All eyes are on the next international reserve data to be released by Bank Negara tomorrow to determine how much has been used to defend the ringgit against the US dollar since Nov 11

Other measures to increase the demand for the ringgit included placing a cap on the amount that companies and individuals could invest locally or abroad in foreign currencies.

Less volatility in ringgit forex rate

PETALING JAYA: Volatility in the US dollar-ringgit foreign exchange (forex) rate is reducing, with the ringgit strengthening by 0.39% to RM4.4490 since the year’s lowest point on Nov 30.

Winning team: The Leaderonomics Team celebrating winning their awards – (from left) Jayson Chik, Prema Jayabalan, Roshan Thiran, Kathleen Tan, Justin Ooi and Sashe Kanapathi.

Leaderonomics wins three awards

PETALING JAYA: Leaderonomics Sdn Bhd, a leading learning and development organisation and a subsidiary of Star Media Group Bhd, won three awards at the recent Human Resources Vendor of the Year Award 2016.

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“We are seeing great forward bookings and our loads are good ... this would be a great boost for us and Malaysian tourism,” Bellew said in response to queries from StarBiz.

Malaysia Airlines bookings jump

PETALING JAYA: Malaysia Airlines Bhd (MAS) has benefitted from a combination of aggressive marketing strategy and the adjustment in passenger service charges (PSC) for flights within the Asean region. Forward bookings at MAS for the next six months are 50% more than a year ago, said its group chief executive officer Peter Bellew.(inset pic)

5 December 2016 | 12:00AM |

Airlines

U.S. West Texas Intermediate crude rose early in the day and began to pare gains in the late afternoon, settling at $51.79 a barrel, up 11 cents or 0.21 percent, before retreating to as low as $51.11 a barrel.  Brent crude settled at $54.94 a barrel, up 48 cents - or 0.88 percent - before retreating to $54.22 a barrel.

Oil retreats on doubts OPEC cuts can ease glut

NEW YORK: U.S. crude futures strengthened Monday before retreating in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased U.S. drilling

6 December 2016 | 6:25AM |

Oil & Gas

Gold price had skidded from US$1,331 on Dec 9

Gold tumbles after Italian vote as investors flee to US$

SINGAPORE: Gold swung after voters in Italy rejected a referendum on constitutional reform and Prime Minister Matteo Renzi announced his resignation, with investors seeking a haven in the dollar rather than the precious metal as they pored over this year’s latest ballot box-driven shift.

5 December 2016 | 6:20PM |

Investing

Is this a new beginning for oil price?

OPEC members on Nov 30th pledged to reduce 1.2 million barrels per day (bpd) from global oil production. The reduction will take effect from Jan 1st and will last for six months.

5 December 2016 | 12:00AM |

Oil & Gas

Rhone Ma gets fair value of RM1

PETALING JAYA: Rhone Ma Holdings Bhd, an end-to-end animal health solutions provider, has been given a fair value of RM1 by JF Apex Securities.

5 December 2016 | 3:13PM |

IPO

Making a point: (from left) Tiong, Ahmad Zaini and MBSB senior vice-president Datuk Nor Azam at the briefing.

MBSB to complete impairment by next year

PETALING JAYA: Malaysia Building Society Bhd (MBSB), whose earnings have been impacted by impairments for almost two years, hopes to end its impairment programme by next year, says its president and chief executive officer Datuk Ahmad Zaini Othman.

6 December 2016 | 12:00AM |

Stocks

U.S. West Texas Intermediate crude rose early in the day and began to pare gains in the late afternoon, settling at $51.79 a barrel, up 11 cents or 0.21 percent, before retreating to as low as $51.11 a barrel.  Brent crude settled at $54.94 a barrel, up 48 cents - or 0.88 percent - before retreating to $54.22 a barrel.

Oil retreats on doubts OPEC cuts can ease glut

NEW YORK: U.S. crude futures strengthened Monday before retreating in post-settlement trade as the market lost confidence OPEC cuts would be sufficient to reduce oversupply given increased U.S. drilling

6 December 2016 | 6:25AM |

Oil & Gas

Aixtron sees slim path to salvage China sale

BERLIN: Aixtron SE was left with a narrow path to salvage its sale to Chinese investors after US President Barack Obama limited his opposition to the semiconductor-equipment supplier’s US assets.

6 December 2016 | 12:00AM |

Aixtron

Financial assistance: People walk in front of the logo of Gazprom at a forum on energy efficiency in Moscow. Mizuho Bank and SMBC are in talks to finalise a loan deal for Gazprom during Russian President Vladimir Putin’s visit to Japan on Dec 15-16. — EPA

Mizuho and SMBC may provide loans to Gazprom

TOKYO: Japan’s Mizuho Bank Ltd and Sumitomo Mitsui Banking Corp (SMBC) are working on a deal to provide 800 million euros (US$845mil) in loans to Russian gas giant Gazprom, people familiar with the matter said, less than two weeks before Japanese Prime Minister Shinzo Abe meets Russian President Vladimir Putin.

6 December 2016 | 12:00AM |

Mizuho

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