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Tabung Haji shifts to buy more bonds, reduce equities

KUALA LUMPUR: Lembaga Tabung Haji (TH) plans to shift to a more conservative asset allocation strategy by owning more bonds, while reducing its exposure to the equities market as part of its turnaround plan.

Datuk Seri Zukri Samat group managing director and Ceo of Tabung Haji speaks during a briefing on the progress of  Lembaga Tabung Haji's turnaround plan, seated on the right is Datuk Zaiton Mohd Hassan, chairman of risk, audit and management committee. - RAJA FAISAL HISHAN/The Star

Sinopec wins approval for IPO of retail unit

HONG KONG: Sinopec, China’s top oil refiner, won approval from the country’s cabinet for a long-awaited initial public offering (IPO) of the retail unit that runs its vast chain of gas stations and convenience stores, sources said.

Opportunity for investors: A Sinopec petrol station in Hong Kong. Sinopec’s retail operations include more than 30,600 fuel stations and nearly 27,000 convenience stores. — EPA

Huawei founder breaks silence amid US attacks

BEIJING: Ren Zhengfei, the billionaire founder of Huawei Technologies Co, broke a years-long silence as his technology empire faces its biggest crisis over three decades of existence.

Recalibrating the way forward

KUALA LUMPUR: Globalisation has been a polarising force with policymakers being challenged to find the right balance between various and opposing objectives, said Bank Negara Assistant Governor Marzunisham Omar at the World Bank International Conference today.