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Business

UK floods banking system with more than 100 billion pounds

LONDON: The government and central bank will flood Britain's banking system with more than 100 billion pounds ($155.43 billion), seeking to pump credit through an economy struggling to escape recession under the "black cloud" of the euro zone crisis.

Business

Most Asia FX up on more stimulus bets, head for July gains

SINGAPORE: Most emerging Asian currencies rose on Tuesday -- and headed for monthly gains -- as investors increased their bets that the European Central Bank and U.S. Federal Reserve would take steps to stimulate economicactivity.

Business

MMHE bidding for RM4bil jobs, sees steady cashflow

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) is bidding for projects totalling at least RM4bil and expects cashflow to be “steady” until next year, said chairman Datuk Nasarudin Md Idris.

Business

A time for professional scepticism

FINALLY, the Audit Oversight Board (AOB) has imposed its first sanction. On July 12, more than two years after it had been set up, the board reprimanded Alvin Tee Guan Pian, the senior partner of accounting firm UHY Malaysia.

Business

Poser over banks’ role

KUALA LUMPUR: While the domestic banking sector has grown in its resilience and importance to the country, one question that has to be addressed is whether it is well-placed to support the development of the real economy, said Citibank Malaysia chief executive officer Sanjeev Nanavati.

Business

Zynga plans to build a gamers' social network

SAN FRANCISCO: Zynga Inc unveiled a social network for gamers dubbed "Zynga with Friends" on Tuesday, hoping to wean itself from a longstanding, symbiotic relationship with Facebook Inc that has shaped two of Silicon Valley's closely watched Internet companies.

Business

M’sian business confidence on global economy down

PETALING JAYA: The second quarter of 2012 saw both business confidence and optimism about the global economy fall in Malaysia, and also revealed the country as the least confident market in the Asia-Pacific region.

Business

Of higher pain threshold

THE only way to tolerate pain is to first be in a place of pain. The only way to run faster is to run fast.

Business

Santos LNG project cost blows out to US$18.5bil

PERTH: Santos hiked the cost of its Gladstone LNG project on Thursday by 15 percent to $18.5 billion, saying it needs to find more gas ahead of a planned 2015 start-up, adding to evidence about the challenges facing Australia's coal seam gas industry.

Business

Stable outlook for banking But Moody’s cautions on Malaysia’s household debt, rising house prices

PETALING JAYA: Leading provider of credit ratings, research and risk analysis, Moody’s Investors Service has maintained its stable outlook for the Malaysian banking system for the next 12 to 18 months in its most recent Banking System Outlook.