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Business

Contractors brace for more price hikes

Contractors, who have seen building material costs surge by an average 25% since January, are bracing for another round of price hikes, this time from the higher electricity tariffs which came into effect on July 1.

Business

Oil prices steady in Asia

BANGKOK, Thailand (AP) - Oil held steady Friday in Asia after rebounding more than US$5 in the previous session after another missile launch by Iran stoked worries that escalating political tensions in the Middle East could cut off supplies out of the region.

Business

Windfall tax will reduce IPP’s cash flow

Affected independent power producers (IPP) will face reduced project returns and lowered debt servicing ability if the Windfall Profit Levy (Electricity) Order 2008 is implemented, says Malaysian Rating Corp Bhd (MARC).

Business

Ecuador says TV seizure won't compromise press freedom

QUITO, Ecuador (AP) - Ecuador's government promised Wednesday to protect press freedoms despite including three television stations among nearly 200 businesses seized to collect debts from a bank collapse.But it also moved to revoke concessions on 229 other frequencies.

Business

US stocks rise as oil prices drop

Wall Street finished sharply higher Tuesday as oil prices dropped sharply for the second straight day and investors were encouraged by the possibility of more help for the ailing financial system.hr noshade size=1 width=50%>

Business

IPPs’ RM20b bonds may be downgraded with windfall tax

The independent power producers (IPPs) face a possible downgrade of their bonds with the Windfall Profit Levy (Electricity) Order 2008, which came into effect on July 1.

Business

IPPs alarmed over possible windfall levy

Malaysia's independent power producers (IPPs), alarmed over a possible imposition of a windfall profit levy, has strongly urged the government to review and defer the imposition of such a levy which would have far reaching implications for the country and the IPPs

Business

Next stress level for oil at US$152

LAST week's crude oil price surge will deal further blows to airlines worldwide. Already wounded by a 50% rise in oil prices since the beginning of this year, airlines face further capacity squeeze that will potentially lead to scrapping of more routes in the coming weeks.

Business

ADB: Another Asia currency crisis unlikely

Asian economies will avoid a repeat of the 1997-98 currency crisis because they have accumulated large amounts of foreign reserves, Asian Development Bank president Haruhiko Kuroda said.

Business

Four firms begin costly quest for oil and gas off Florida

PENSACOLA, Florida (AP) - Oil companies once viewed drilling in the deep waters off Florida as cost prohibitive. Politicians feared even the slightest sign of support would be career suicide. No more.