Nissan half-year profit jumps 15%

Nissan Motor Co reported yesterday a 15% increase in half-year operating profit, as a slew of new models drove sales higher in every major car market.

HSBC to shed staff in corporate finance, investment restructure

B>LONDON:/B HSBC, the world's second largest bank by market value, has begun to shed corporate finance and other investment banking staff as part of a restructuring.

Enhancing Johor for offshore firms will pose competition for Singapore

JOHOR will pose competition to Singapore when Labuan offshore companies set up marketing offices in the state, but this can only work to Malaysia#039;s advantage if red tape were to be reduced, Ernst amp; Young Tax Consultants Sdn Bhd executive director Lee Choong San said.

Strong base for food exports

With the government introducing incentives for locally-produced products, Nestlé Malaysia would be able to establish a strong base in existing as well as new export markets, says Sullaivan O'Carroll, MD, Nestle Malaysia Bhd.

Budget a challenge for corporate sector, says MEF

THE Malaysian Employers Federation (MEF) has described the proposed Budget 2004 as a challenge for the corporate sector to move into a higher level of development with an emphasis on greater use of information technology (IT) and skilled manpower.

Foreign news in brief

China denies manipulating yuan

China is not manipulating its currency and will not give in to international browbeating'' to change its foreign-exchange policy, the government's main English newspaper said Tuesday as the U.S. treasury secretary arrived for a visit.

KL market finishes August on a weak note

STOCKS on the KLSE ended August on a weak note, with the Composite Index (CI) dropping 0.4% to 743 yesterday ahead of the long Merdeka weekend but up 3% for the entire month following the market's breakout from a consolidation period at the end of July.

Former Citigroup executive charged with embezzlement

A former executive of Citigroup Global Markets Inc. was indicted on charges he embezzled more than $70,000 from two mutual funds he controlled.

StanChart expecting RM500m eTreasury ops

STANDARD Chartered Bank Malaysia Bhd expects RM500mil worth of transactions to be carried out via its newly launched online treasury delivery system by the end of the year.