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Economy grows 4.5% in first quarter

KUALA LUMPUR: Malaysia’s economy performed above expectations in the first quarter of 2019 (1Q19) and the country’s foreign investments staged a strong improvement, amid elevated external challenges. However, despite these positive developments, more warnings signs on the economy have begun to crop up.

Malaysia's Economic Performance Chart. Source: Department of Statistics Malaysia.

PetChem buys Da Vinci Group BV for RM761mil

PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) is making a foray into specialty chemicals by acquiring Netherlands-incorporated Da Vinci Group BV for €163mil (about RM760.6mil).

The petrochemical group announced on Thursday that it had signed a sale and purchase agreement to buy 100% of Da Vinci from its shareholders, including, among others, funds managed by Bencis Capital Partner

Geneva’s allure may be fading

ZURICH: Just off rue du Rhone, Geneva’s luxury shopping street, a six-story building once home to a private bank lies vacant, its brass door shuttered and the marble siding cracked.

Funding crisis seen worsening in India

MUMBAI: India needs to pump more cash into its financial system to prevent a worsening of the funding crisis among shadow banks and the corporate sector, according to one of the nation’s biggest money managers.

Iran exercises restraint despite US sanctions

TOKYO: Iran is committed to its obligations under an international nuclear deal despite the US withdrawal from the landmark agreement, its foreign minister said, calling the reimposition of US sanctions “unacceptable”.

Late selling sends KLCI below 1,600; Leong Hup unchanged

KUALA LUMPUR: Late selling pressure on Public Bank, Maybank and Tenaga Nasional forced the FBM KLCI to close below the key 1,600 level on Thursday while Leong Hup International ended its first trading day unchanged.