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Heineken out to maintain fine run

AS the first Malaysian managing director of brewery giant Heineken Malaysia Bhd, much will be expected of Roland Bala, the 53-year-old Sarawakian who assumed the role six months ago.

UBS sets aside 450m euros for French tax case

ZURICH: Switzerland’s biggest bank, UBS, on Friday reported a nearly $400 million boost to its litigation provisions after a French court slapped it with a 4.5 billion euro ($5.09 billion) penalty last month.

HDC remains optimistic of RM50bil halal export by 2020

PETALING JAYA: Halal Industry Development Corporation (HDC) remained optimistic of hitting RM50 billion export target by 2020, despite recording a lower halal export of RM40 billion last year, says vice president Hanisofian Alias.

RAM reaffirms YTL Corp's debt notes ratings

KUALA LUMPUR: RAM Ratings has reaffirmed the AA1/Stable ratings of YTL Corporation Bhd’s RM500mil medium term notes (MTN) programme (2004/2019) and RM2bil MTN programme (2013/2038).

Additionally, excess generating capacity still plagues the Singaporean power market, causing YTL PowerSeraya Pte Ltd to incur a pre-tax loss in 1H FY Jun 2019.

Ringgit lower against US$ despite better than expected local data

KUALA LUMPUR: The ringgit extended Thursday's downtrend to be lower against the US dollar early Friday as the greenback strengthened amid talks of delay to US-China summit, offsetting several better-than-expected Malaysia economic data.

At 9 am (0100 gmt), the ringgit stood at 4.0900/0940 against the US dollar from 4.0890/0940 at the close Thursday.

Abu Dhabi's Mubadala halts business with Goldman Sachs amid 1MDB lawsuit

DUBAI/ABU DHABI: Abu Dhabi state investor Mubadala has suspended new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the U.S. bank and others to recover losses suffered through its dealings with Malaysian state fund 1MDB.

"We have suspended any activities with Goldman Sachs pending outcome of the litigation," Brian Lott, spokesman of Mubadala Investment Co, said in response to questions from Reuters.