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Hengyuan to allocate RM700mil capex

KUALA LUMPUR: Regional oil refining company Hengyuan Refining Company Bhd has allocated RM700mil in capital expenditure (capex) over the next one to two years to finance two cornerstone projects, said chairman Wang You De.

Australia’s Mineral Resources quits contest for Atlas Iron

BENGALURU: Mining infrastructure provider Mineral Resources said it would not make an offer to counter Hancock Prospecting’s A$390mil (US$288mil) bid for Australia’s Atlas Iron.

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Volkswagen kills Beetle, ending production of iconic vehicle

VW plant in Mexico, the last source of the compact, will shift to other models next year

Investor AB gears for downturn

STOCKHOLM: The Swedish Wallenberg family’s holding company Investor AB, which owns stakes in about a fifth of the companies listed on the country’s benchmark large-cap index, is preparing for a potential weakening of the global economy.

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Manufacturers take a sales hit in China

US factories face weaker global trade as China’s economy slows to its lowest growth rate since 1990

AMP unit posts big increase in cash outflows

SYDNEY: Australia’s oldest wealth manager, AMP Ltd, posted a near nine-fold increase in cash outflows at its wealth management unit in the wake of damaging revelations of misconduct, sending its shares down sharply.

RGB secures rights to sell two more branded gaming machines

GEORGE TOWN: RGB International Bhd has secured the rights to sell two more branded gaming machines in Asia under its sales and marketing business division.