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Bursa’s positive start to second half

PETALING JAYA: The FBM KLCI kicked off the second half of the year on a positive note, with the benchmark index rising 11.49 points or 0.69% to 1,683.62.

Good impact: Gains made on Bursa Malaysia yesterday were due to the positive sentiment in Asian markets and the rise in US stock futures after the US and China agreed not to impose more tariffs on each other’s products.

‘Is that a typo?’ Australia recoils at record-low yields

SYDNEY: Australia is about to reach its last percentage point of interest-rate ammunition, dragging the country’s economy and markets deeper into the low-yield world that’s already engulfed many of its developed-world peers.

Muted outlook for banking

PETALING JAYA: Despite the recovery in loan growth, the outlook for the banking sector in Malaysia remains relatively muted due to net interest margin (NIM) compression.

Factory sentiment gets more frigid across Asia

SINGAPORE: Factory sentiment across Asia became even more frigid in June, signalling a worsening in the region’s growth outlook as US-China trade tensions continue to simmer.

China to tighten rules on cash management products

SHANGHAI: China’s banking regulator plans to tighten rules on so-called cash-management products (CMP), according to people familiar with the matter, impacting an estimated US$2 trillion worth of the investments.

Bank Muamalat posts RM241.2mil PBT for FY19

KUALA LUMPUR: Bank Muamalat Malaysia Bhd’s (BMMB) profit before tax increased 4.6 per cent to RM241.2 million for the financial year ended March 31, 2019, from RM230.5 million posted in the corresponding period of 2018.

Gold sinks most in a year as trade truce deals blow to bulls

SINGAPORE: Gold opened the third quarter with a slump back below $1,400 an ounce after the U.S. and China agreed to a truce in their trade war, dealing a blow for now to havens that were bolstered in recent months by the long-running tensions as well as prospects for looser monetary policy.

China's AIIB eyes US$10-12b a year in project financing, steady growth

DALIAN: The Asian Infrastructure Investment Bank (AIIB) aims to finance infrastructure projects worth $10-12 billion annually over the coming years, and will maintain a prudent approach in investing in such deals, the bank's vice president of policy and strategy said.