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World stocks lifted to 2 1/2-month highs by trade optimism

London: Hopes for progress in Sino-U.S. trade talks and expectations of policy stimulus from central banks lifted world stocks to 2 1/2- month highs on Monday, though European gains were held back by concern over the outlook for auto makers.

MSCI's All-Country World Index rose 0.4 percent after Japan's Nikkei closed up 1.8 percent at its high for the year and MSCI's index of Asian equities rose almost 1 percent. Shanghai blue chips surged 2.7 percent to their highest finish in more than six months.  Wall Street futures suggested that U.S. stocks would maintain last week's gains when trading starts again on Tuesday, after Monday's holiday.  The Dow and the Nasdaq had boasted eight consecutive weeks of gains on wagers the United States and China can resolve their protracted trade dispute.

EPF: Can't be 'too adventurous' in a challenging 2019

KUALA LUMPUR: Uncertainties worldwide will be the new norm as businesses adjust into 2019, and as far as the Employees Provident Fund (EPF) is concerned, it is not a time for it to be “too adventurous.”

Stressing that the EPF is a long-term fund, CEO Tunku Alizakri Alias said that when markets head south, the EPF comes out to hunt.  “Don’t think because markets are bad, it’s necessarily a bad thing.  “It’s going to be challenging this year so let’s stick to what we know and let’s really hunt for the assets that will bring the returns."

Petronas Gas FY18 net profit weighed by Kimanis Power

KUALA LUMPUR: Petronas Gas Bhd posted a marginal increase in its net profit of RM1.81bil in the financial year ended Dec 31, 2018 as it was weighed down by share of losses from a joint-venture company, Kimanis Power Sdn Bhd.

evenue increased by 12.3% to a historic high of RM5.498bil from RM4.896bil driven by successful full year operations of the group’s LNG Regasification Terminal in Pengerang.

India's rupee goes from first to last

MUMBAI: India’s rupee has gone from being the best-performing Asian currency last quarter to the worst this year as rising crude prices and tensions over Kashmir weigh on sentiment.

ILE PHOTO: A cashier checks Indian rupee notes inside a room at a fuel station in Ahmedabad, India, September 20, 2018. REUTERS

Hyflux unveils survival plan as Singapore bondholders watch

SINGAPORE: Cash-strapped Singapore water-treatment company Hyflux Ltd. unveiled a restructuring plan that’s been highly anticipated by retail investors in the city-state, who own millions worth of the firm’s debt.

Hyflux said its Chief Executive Officer Olivia Lum and the board of directors intend to distribute their preference shares and perpetual capital securities to other holders when the proposed revamp is completed.

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