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EPF, PNB not GLCs; only Khazanah, KWAP are: Shahril

KUALA LUMPUR: The Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB) should not be classified as government-linked investment companies (GLICs) because their source of funds is money from their members and has nothing to do with the government.

“When you actually look at the question of what is a GLC or GLIC, you have to be very clear on the definition of what really is a GLC.  “I was running the EPF and the point of view is that the EPF should not be a GLC. The source of funds of the EPF and PNB is actually the members’ money. It has nothing to do with the government,” Shahril (pic) said.

Drop in coal, gas prices unlikely to affect electricity tariff

KUALA LUMPUR: The recent drop in global coal and gas prices would not likely affect the electricity tariff in Malaysia as they are still higher than the base prices set during the three-year revision in 2018, says Tenaga Nasional Bhd (TNB).

Wall St. treads water after rally

NEW YORK: The benchmark S&P 500 stock index paused on Tuesday, taking a breather from Monday's strong quarterly kickoff as a decline in shares of Walgreens Boots Alliance Inc weighed and economic data did little to ease growth concerns.

The Dow Jones Industrial Average fell 79.29 points, or 0.30%, to 26,179.13, the S&P 500 gained 0.05 points to 2,867.24, and the Nasdaq Composite added 19.78 points, or 0.25%, to 7,848.69.

Boeing rolls out software fix to defend 737 MAX franchise

SEATTLE/WASHINGTON: Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months.

Boeing, in the midst of one its worst crises in years, is under pressure from crash victims' families, airlines, lawmakers in Washington and regulators around the world to prove that the automated flight control systems aboard its 737 MAX aircraft are safe, and that pilots have the training required to override the system in an emergency.