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Business

Share prices close higher

Shares on Bursa Malaysia closed higher in Friday's trade following news on rising consumer spending after China's new lending doubled in May.

Community

Mooncake fest to showcase unity

KUCHING: The annual Sarawak Inter-Cultural Mooncake Festival will be a showcase of unity in diversity as different ethnic communities come together to celebrate it.

Business

Regional bourses up in morning trade

Regional bourses were mostly up in Friday morning trade following positive news on improved economic indicators pointed to an easing of the US recession and rising commodity prices.

Business

Malaysian Central Bank: Asia set to recover first

PETALING JAYA: The Asian region holds the greatest promise of recovering early from the global downturn compared with other parts of the world, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz told the i>Wall Street Journal/iin Beijing yesterday.

Business

Kenanga sees more cross-border M&As

KUALA LUMPUR: Cash-rich Malaysian firms are looking abroad for merger and acquisition (MA) opportunities because asset prices at home have not fallen as sharply as in other Asian markets, investment bank KN Kenanga said.

Business

US Federal Reserve survey says recession easing

WASHINGTON: The economy's sharp slide eased in the late spring and hopes for future business activity improved, suggesting that the worst of the recession has passed.

Business

China said Wed CPI fell for 4th straight month(update)

BEIJING: Chinese prices fell in May for a fourth month as food and energy costs declined from last year's high levels, data showed Wednesday, giving Beijing a freer hand to carry out its huge stimulus plan.

Business

Ten banks to return US$68bil in US bailout money

WASHINGTON: Ten of the biggest U.S. financial companies got a green light Tuesday to return $68 billion in federal bailout money - freeing the banks from limits on executive pay and leaving the government with a small gain on the rescue cash.

Business

Japan bank lending slows to 7-month low

TOKYO: Growth in Japanese bank lending slowed to a seven-month low in May as firms stop hoarding cash and it becomes easier to obtain funds via capital markets, but the slowdown also points to a worrying drop in funding demand.

Business

World's second biggest drug maker sees sluggish global economy ahead

SINGAPORE: The chief executive of GlaxoSmithKline, the world's second-largest drug maker by revenue, said the global economy could remain sluggish for some time as tight credit markets and cautious corporate investment hamper growth.