• Corporate News

    Toyota, Panasonic to set up EV battery JV in 2020

    TOKYO: Toyota Motor Corp and Panasonic Corp are set to launch a joint venture next year to produce batteries for electric vehicles (EV) in an effort to compete with Chinese rivals, a source familiar with the matter said.

  • Corporate News

    Indian govt sacks two Punjab National Bank execs over US$2b fraud

    NEW DELHI: India has sacked two senior executives of state-run Punjab National Bank (PNB) for allegedly failing to prevent a US$2 billion fraud, two sources with direct knowledge of the matter said on Sunday, nearly a year after the country's biggest bank scam came to light.

    Punjab National Bank said the government had removed K. Veera Brahmaji Rao and Sanjiv Sharan "from the office of executive director" with immediate effect.
  • Markets

    World markets themes for the week ahead

    NEW YORK: Following are five big themes likely to dominate thinking of investors and traders in the coming week.

    BREXIT: Markets now reckon the March 29 deadline will be extended to give parliament more time to negotiate the manner of exit or even to organize a second referendum.
  • Economy

    Fed policymakers leave little doubt: Rate hikes can wait

    SOMERSET, N.J./SAN FRANCISCO: Patience" is the new mantra at the Federal Reserve, less than two weeks ahead of the U.S. central bank's first policy meeting of the new year, as officials leave little doubt they want to stop raising interest rates - at least for a while.

    Fed Chair Jerome Powell(pic first used the word "patient" to describe his approach to monetary policy early this month, in words that soothed financial markets after months of volatility.  This week seven other policymakers followed Powell in embracing a "patient" approach or otherwise signaling an inclination to pause the cycle of rate hikes.
  • Stocks Analysis

    Improved sentiment pushes FBM KLCI up

    REVIEW: The consolidation phase may be brief as the investment community received yet more good news on a trade resolution.

  • Corporate News

    4As holding IPA creative directors bootcamp

    THE Association of Accredited Advertising Agents of Malaysia (4As) is presenting a Chartered Institute of Practitioners in Advertising (IPA) course called the IPA Creative Directors Bootcamp from Feb 25-26 at Aloft Hotel, Kuala Lumpur.

  • Insurance

    Private retirement schemes attract strong interest

    THE private retirement schemes (PRS) attracted strong interest, especially among those aged below 30 years as the net asset value (NAV) rose 20% to RM2.66bil last year.

  • Stocks Analysis

    Global Forex Market

    THE US dollar edged higher over the week, up 0.48% to 96.1 largely due to a sharp weakening in the euro. Meanwhile, the US government shutdown has stretched to 27 days as both President Trump and the Democrats remained unwilling to back off from their stands over the border wall funding. The concerns on the continued shutdown have weighed slightly on the dollar.

  • Investment

    People the biggestfactor in stock picking

    AFFIN Hwang Asset Management Bhd director of equities strategy and advisory Gan Eng Peng is known for his high conviction, bottoms-up approach to stock picking that emphasises strong business models with quality management combined with the need for yearly income generation.

    Gan Eng Peng, Director of Equity Strategies & Advisory, Affin Hwang Asset Management
  • Analyst Reports

    Russian roulette behind the wall of chaos

    TWO years after the election of Trump and the UK referendum on Brexit, we have the bizarre events of a US government shutdown over the building of a wall with Mexico, and the UK Prime Minister overwhelmingly rejected on her proposals for Brexit.

  • Oil & Gas

    Oil set for longest weekly rally since October

    SEOUL: Oil headed for its longest weekly rally in three months on expectations that production cuts by Opec and resilient fuel demand will keep global markets in balance.

  • Corporate News

    Japan Inc profits under siege

    TOKYO: Two prominent Japanese electronics and equipment makers warned of profit declines over the past week due to the impact of the US-Sino trade war, stoking worries of widespread cuts to corporate earnings forecasts and a hit to economic growth.

  • Government

    Felda: Guan Eng’s statement on late payments untrue

    PETALING JAYA: The statement by Finance Minister Lim Guan Eng claiming that there were late payments of arrears to Sungai Koyan settlers is untrue, says the Federal Land Development Authority (Felda).

  • Short Position

    Goldman says sorry, what about the rest?

    Goldman Sachs’ apology to the people of Malaysia comes too late in the day to save the colossal damage inflicted on the investment bank for its role in diverting funds due to the scandal-ridden 1Malaysia Development Bhd (1MDB).

  • Analyst Reports

    What’s wrong with rights issues?

    Malayan Flour Mills Bhd (MFM) and Sapura Energy Bhd (SEB) recently came into the limelight as two companies with two distinct business operations which decided to tap into the deep pockets of their respective shareholders via a rights issue exercise.

  • SMEBiz

    Building friendships, growing together

    The fact that employees at Forefront International are a tight-knit lot is probably nothing new. A steamboat lok-lok truck party, a Songkran-themed water fest, fun outings, games, trips – their activities are the stuff of legend.

  • Stocks Analysis

    Eye On Stock: Hartalega

    HARTALEGA Holdings Bhd (code: 5168) extended its rebound yesterday to an intraday high of RM5.38, following a pick up in positive momentum on Thursday.

  • Oil & Gas

    Oil price up 3% on Opec plan details, US-China trade hopes

    NEW YORK: Oil prices rallied about 3 percent on Friday, boosted after OPEC detailed specifics on its production-cut activity to reduce world supply, and on signals of progress in resolving the U.S.-China trade war.

    Futures were on track for a third straight week of gains, with Brent crude up $1.64 to $62.82 a barrel, or 2.7 percent, at 11:06 a.m. EST (1606) GMT. U.S. West Texas Intermediate (WTI) crude futures were up $1.70 to $53.77 a barrel, or 3.3 percent.
  • Palm Oil

    Malaysian palm oil price jumps to near 3-month top on support from crude oil

    KUALA LUMPUR: Malaysian palm oil futures jumped to a near three-month high on Friday, charting a second day of gains, buoyed by strong crude oil prices and technical buying.

    The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was 1.3 percent up at 2,226 ringgit ($541.61) a tonne at the close. It was earlier as high as 2,228 ringgit, its strongest levels since Oct. 23.  Palm is up 2.4 percent for the week, a second week of gains in three.
  • Markets

    Wall Street extends rally on U.S.-China trade optimism

    NEW YORK: U.S. stocks rallied on Friday, helping Wall Street's major indexes advance for the fourth consecutive week, as increased hopes the United States and China would resolve their trade dispute lifted shares across sectors.

    The Dow Jones Industrial Average rose 336.25 points, or 1.38 percent, to 24,706.35, the S&P 500 gained 34.75 points, or 1.32 percent, to 2,670.71 and the Nasdaq Composite added 72.77 points, or 1.03 percent, to 7,157.23.  For the week, the Dow rose 2.96 percent, the S&P 500 gained 2.87 percent, and the Nasdaq added 2.66 percent. All three indexes registered their biggest four-week percentage gain since October 2011.  U.S. stock markets will be closed on Monday for the Martin Luther King Jr. holiday.