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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.

Exim Bank’s new president/CEO is Shahrul Nazri

PETALING JAYA: Datuk Shahrul Nazri Abdul Rahim (pic) is the new president/chief executive officer (CEO) of Export-Import Bank of Malaysia Bhd (Exim Bank) effective today.

Shahrul Nazri, who holds a Bachelor of Law (LLB) (Hons) from Anglia University, UK, has a long track record in the financial services industry, and has led large-scale and complex transformation and change programmes.

CGS-CIMB starts Malaysian stockbroking operations

KUALA LUMPUR: CGS-CIMB Securities Sdn Bhd (CGS-CIMB Malaysia), a joint venture between CIMB Group Holdings Bhd (CIMB) and China Galaxy International Financial Holdings Ltd (CGI), a wholly-owned subsidiary of China Galaxy Securities Co Ltd (CGS), will officially commence operations today.

“I am confident this partnership will result in a differentiated value proposition for existing and future clients of CGS-CIMB, as well as CGS and CIMB separately,” said CEO of group wholesale banking, CIMB Group, Shahnaz Jammal.