Latest
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Banking
Bank Negara: H1 household debt elevated at 82.2% of GDP
KUALA LUMPUR: The overall household debt level remained elevated at 82.2% of GDP in the first half of 2019, with loans for the purchase of residential properties continuing to be the key driver of debt growth, according to Bank Negara Malaysia.
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Markets
Consumer stocks top losers as investors stay cautious
KUALA LUMPUR: Consumer stocks topped the losers' list on Wednesday as investors stayed cautious due to the lack of convincing catalysts while the FBM KLCI closed below the key 1,600.
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Telcos
Digi to open its 5G OpenLab this Oct 1
CYBERJAYA: The 5G OpenLab, a collaborative effort between Digi Telecommunications Sdn Bhd (Digi) and Cyberview Sdn Bhd, will open its door at RekaScape here this coming Oct 1 to allow academicians, businesses and developers to test new 5G use cases.
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Banking
DBS Banks aims to double Thai wealth business by 2023
SINGAPORE: DBS Bank on Wednesday said that DBS Private Bank and brokerage DBS Vickers Securities (Thailand) are partnering to double wealth assets managed in Thailand to S$8 billion from S$4 billion by 2023.
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Corporate News
Govt has paid RM9bil in interest for 1MDB debts
KOTA BHARU: The government has paid at least RM9 billion in interest for 1Malaysia Development Bhd (1MDB) debts, says Deputy Finance Minister Datuk Amiruddin Hamzah.
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Airlines
Fernandes to quit all positions except in AirAsia Group, AirAsia X
KUALA LUMPUR: AirAsia Group Bhd co-founder and group chief executive officer (CEO) Tan Sri Tony Fernandes is to step down from all his positions, except in AirAsia Group and AirAsia X. He, however, did not say when this would happen.
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Markets
AME Elite Consortium to issue 85.4m new shares under IPO
KUALA LUMPUR: Industrial space solutions provider AME Elite Consortium Bhd is issuing 85.4 million new shares to the public under its proposed listing on the Main Market of Bursa Malaysia Securities.
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Corporate News
Supermax proposes dividend of one share for every 65 held
KUALA LUMPUR: Supermax Corporation Bhd has proposed a final dividend via the share dividend distribution of one treasury share for every 65 shares held.
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Airlines
MavCom records 810 complaints in January to June
KUALA LUMPUR: The Malaysian Aviation Commission (MavCom) recorded 810 complaints in January to June this year, of which 798 were lodged against airlines while 12 were lodged against airports.
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gold
Gold flat ahead of Fed outcome, lower oil prices lift risky bets
GOLD prices were little changed on Wednesday amid cautious mood as investors awaited cues on the U.S. central bank's stance on monetary easing, while a drop in crude prices dented demand for safe-haven bullion.
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Economy
Hong Kong hotel workers go on unpaid leave as tourists shun city
HONG KONG: As the protests in Hong Kong drive away visitors, the city’s hotel workers are in the firing line.
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Markets
CME to host Bursa Malaysia Derivatives products until 2025
KUALA LUPUR: Bursa Malaysia Bhd extended its agreement with Chicago Mercantile Exchange Inc (CME) to host Bursa Malaysia Derivatives Bhd’s (BMD) products on CME Globex until September 2025.
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Corporate News
Emerging east Asia bond markets continue growth despite risks
KUALA LUMPUR: Emerging East Asia’s local currency bond market expanded steadily in the second quarter of 2019 despite downside risks stemming from ongoing trade conflicts, a faster-than-expected economic slowdown in China and a moderating global growth.
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Corporate News
RAM Holdings appoints new group CEO, deputy group CEO
KUALA LUMPUR: RAM Holdings Bhd has appointed Lee Wai Kit as its group chief executive officer (CEO) and Promod Dass as his deputy.
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Markets
Plantations weigh on KLCI as CPO sheds gains
KUALA LUMPUR: Plantations weighed on the FBM KLCI at the midday break on Wednesday as crude palm oil (CPO) futures shed their gains while oil and gas heavyweights slipped as prices fell.
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Corporate News
Huawei dangles US$1.5b in hunt for global developers
BEIJING: Huawei Technologies Co. is offering US$1.5bil to partners willing to build software for its future chip and computing platforms, courting developers worldwide at a time the US is heightening scrutiny of the Chinese tech giant.
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Economy
Anwar says he will succeed Dr Mahathir as PM around 2020
KUALA LUMPUR: Malaysian ruling party leader Datuk Seri Anwar Ibrahim, who’s widely expected to be the country’s next prime minister, said his succession should happen by 2020.
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Bill Gates
Bill Gates: Trade war may swell misery of neediest
BILL Gates, co-chair of the Bill & Melinda Gates Foundation, has warned that trade tensions between China and the United States are likely to affect global initiatives aimed at conquering poverty, contagious diseases and other global woes.
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Business
Asian firms' sentiment bounces from low but recession fears grow
SINGAPORE: Confidence among companies in Asia lifted slightly in the September quarter from 10-year lows, but most firms do not plan on hiring or expect business to pick up as they see a risk of a global recession looming, a Thomson Reuters/INSEAD survey found.
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Business
Markets: Oil steps back, US Fed in focus
TOKYO: Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month's end while caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges.