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Economy expands by 4.5% in Q1 of 2019, above forecast

KUALA LUMPUR: The economy expanded by 4.5% at in the first quarter of March 31, 2019 (Q1 2019), which was slightly above economists' forecast of 4.3%, underpinned by services and manufacturing.

Rising oil prices lift ringgit against USD

KUALA LUMPUR: The ringgit opened slightly higher against the greenback today as global oil prices surged overnight and amid an improvement in commodity price.

Palm oil price at week high on stronger soyoil, weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures climbed to a one-week top in early trade on Wednesday, in line to chart a third consecutive day of gain, as it tracked an increase in U.S. soyoil on the Chicago Board of Trade (CBOT) and a weaker ringgit.

Benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was up 1.4% at 2,043 ringgit ($489.69) a tonne at the midday break on Wednesday, its strongest levels since May 8.

Buffett's Berkshire unveils US$861mil Amazon stake

NEW YORK: Warren Buffett's Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos

Wednesday's filing includes investments by Buffett(pic) and his portfolio managers Todd Combs and Ted Weschler, but does not say who bought and sold what.

Saudi’s non-oil stimulus may last beyond 2021

DUBAI: Saudi Arabia’s 200 billion-riyal (US$53bil) lifeline to its non-oil economy may be in place for longer than planned as the kingdom supports industries struggling to cope with reforms that pushed up costs and dampened demand.

KL Kepong Q2 net profit 34.6% up

PETALING JAYA: Plantation company Kuala Lumpur Kepong Bhd’s (KLK) net profit in its second quarter ended March 31, 2019 (2Q19) rose 34.6% to RM142.95mil from RM106.15mil a year ago, mainly due to a surplus of RM25.6mil arising from government acquisition of plantation land.

For its plantation sector, net profit dipped 55.8% to RM100.9mil from RM228.4mil previously, dragged by weaker selling prices of crude palm oil and palm kernel.