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.

Citigroup members appointed to arrange US$250mil Sukuk issue for Bahrain

THE Bahrain Monetary Agency (BMA) has appointed Citi Islamic Investment Bank (CIIB), Bahrain and Citigroup Global Markets Ltd (CGML) to arrange, structure and lead manage its upcoming US$250mil Sukuk issue.

Briefly

Citigroup beefing up Islamic ops

CITIGROUP Islamic banking vehicle, Citi Islamic Investment Bank E.C. (CIIB), aims to strengthen its position in the global Islamic banking business through its diversified range of alternative Islamic products and services for the international market.

Ta Win’s Shanghai plant to drive growth

Copper wire manufacturer Ta Win Holdings Bhd expects its new plant in Shanghai, when fully operational in mid-2004, to boost revenues and profits and set it on a course for future growth.

HSBC looks to boost presence in China

HSBC Holdings Plc, the largest foreign bank in China, is looking to boost its presence in China by acquiring stakes in domestic financial institutions.

IMF: No imminent need to unpeg ringgit

THERE is 'no imminent need' for Malaysia to unpeg the ringgit, an International Monetary Fund (IMF) official said yesterday. But he urged the authorities to study it, to allow greater policy flexibility.

Local paints, coatings industry poised to outpace manufacturing

MALAYSIA'S paints and coatings industry, estimated to be worth RM1.3bil in 2002, is expected to outpace the manufacturing sector and may hit a high of 14% a year for the next five years to 2008, RAM Consultancy Services Sdn Bhd said.

Proton set for tie-ups after nod for revamp

PERUSAHAAN Otomobil Nasional Bhd (Proton) yesterday won shareholder approval for a corporate revamp, paving the way for possible partnerships to boost its competitiveness in the domestic and global markets.

StanChart appoints new head for global market division

STANDARD Chartered Bank Malaysia Bhd (StanChart) has appointed Daniel Koh as its head of global markets division.