The Galaxy S8 will be announced in late March and go on sale on or around April 21.PHOTO: AFP
MarketWatch: US President Donald Trump's planned economic agenda has fanned the flames for Wall Street's record-setting run, but some investors worry that his first major address to Congress this week risks dousing it if his plans look slow to execute or are overly vague. - Reuters
Top foreign stories
Buffett scorns tricky Wall Street accounting, but defends buybacks: Billionaire investor Warren Buffett attacked what he saw as tricks used by US companies to boost earnings and stock prices, but he defended one oft-criticised practice: share buybacks. - Reuters
Samsung launches new tablets in flagship phone hiatus: Samsung Electronics launched two new tablets on Sunday, marking its first major announcement since being forced to withdraw the flagship Galaxy Note 7 smartphone after some of the devices caught fire. The Galaxy Tab S3 and the Galaxy Book were presented at the Mobile World Congress in Barcelona. - Reuters
LSE, Deutsche Boerse deal in jeopardy as EU set to block: London Stock Exchange said its proposed merger with Deutsche Boerse AG was unlikely to be approved by the European Commission, leaving the stock market operators' third attempt at combining on the brink of failure. The LSE said the commission had asked it to sell its 60% stake in fixed-income trading platform MTS to satisfy antitrust concerns over the merger of Europe's two largest market operators. - Reuters
Nokia goes back to the future with 49 euro phone: Nokia's newly revitalised phone business went back to the future on Sunday, re-introducing a brightly coloured version of the classic 3310 talk and text phone, the world's most popular device in the year 2000. The new model has bigger screens and is priced at just 49 euros (US$52). - Reuters
Top local stories
AirAsia eyes double-digit growth: AirAsia Group will push for higher passenger loads while keeping a tight lid on costs to sustain earnings this year to mitigate the effects from rising oil prices and volatility in currency. AirAsia group CEO Tan Sri Tony Fernandes said he is forecasting a 10% revenue growth this year after a similar jump to RM6.9bil last year. - StarBiz
Jag turns around, sees brighter days ahead: After a tumultuous financial year ended Dec 31, 2015, Jag Bhd says that things are looking up again in the current financial year. The rise in copper prices in FY16, especially in the final quarter, has helped boost the company’s performance. - StarBiz
PSA to make Malaysia R&D centre if its partners Proton: Frances PSA Group has an ambitious plan to transform Malaysia into a strategic base to develop and manufacture a new range of cars destined for the global market if its proposed partnership with Proton comes to fruition, an industry source said. The group is looking to open an Asian research and development (R&D) centre. - Bernama
Banks competing for special space in investment banking: Banks are strategising to compete in niche areas in investment banking at a time when the investment climate is affected by global economic uncertainties and market volatility. Debt capital market, loan syndication and mergers and acquisitions are among the areas banks in the country see good prospects to strengthen their investment banking portfolios and earnings. - StarBiz
LNG Resources allocates RM50m for M&A: LNG Resources Bhd is allocating RM50mil for a merger and acquisition (M&A) exercise this year to expand its presence in the aerospace industry. The group is in discussions with three companies that make parts and components for the aerospace sector, says group managing director Jackie Yong Chan Cheah. - StarBiz
FNS Avenue doubles stake in Sterling Progress: FNS Avenue Sdn Bhd, the vehicle that is the major shareholder of Ace-listed company Sterling Progress Bhd, has increased its stake in the company from 7.46% to 13.83% as of Feb 24. - StarBiz
Reach board changes test SPAC rules: The recent board changes in Reach Energy Bhd
which saw the appointment of an executive chairman is once again testing the rules governing companies that found their origins as a special-purpose acquisition company (SPAC). - StarBiz
Gabungan AQRS frontrunner for Pahang police HQ job: Gabungan AQRS Bhd is believed to stand a good chance of securing the contract to build the police headquarters in Kota Sultan Ahmad Shah, say sources. The contract is estimated to be worth RM160 million to RM200 million, the sources said. - Edge FD
Dancomech eyes double-digit growth in FY17: Dancomech Holdings Bhd hopes to grow its revenue and profit by about 15% for the current year as it expands its operations in Malaysia and Indonesia. Managing director Daniel Aik said the group’s growth for the year ending Dec 31, 2017 will be partly driven by the expected pickup in the palm oil industry in Indonesia after a slight slowdown in FY16. - Edge FD
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