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Business

Indian police make arrest in widening exchange probe

MUMBAI: India’s federal police said on Tuesday they had arrested an executive and searched the homes and offices of former and current officials of the country’s capital markets regulator in an investigation into the granting of a stock exchange licence.

Business

Battle for China Vanke heats up as Evergrande raises stake

HONG KONG: A battle for control of China’s largest home builder heated up after the country’s No. 2 player raised its stake in China Vanke to nearly 7%, sending Vanke stock higher with investors and analysts betting more share raids are in store.

Business

EU hits truckmakers with record 3 billion-euro fine

BRUSSELS: The EU slapped its biggest ever fine of nearly three billion euros (RM13.3bil) on Europe’s top truckmakers Tuesday, accusing them of colluding to fix prices and dodge the costs of stricter pollution rules.

Business

Breakfast briefing: Tuesday, June 14

Breakfast briefing: Tuesday, June 14

Business

Panama raids offices of Mossack Fonseca law firm

PANAMA CITY: Panama's attorney general late on Tuesday raided the offices of the Mossack Fonseca law firm to search for any evidence of illegal activities, authorities said in a statement.

Business

CIMB Research advises investors to accumulate MyEG

KUALA LUMPUR: Shares in MyEG Services Bhd’s (MyEG), which has fallen 7% over the past three trading days, has provided investors with an opportunity to accumulate, according to CIMB Research.

Business

MSA criticises industry-wide raids on steel importers

KUALA LUMPUR: Malaysia Steel Association (MSA) has criticised the way the authorities had carried out the recent industry-wide raid on steel product importers.

Corporate News

Bursa highlights for Tues, March 1

Companies that made notable announcements to Bursa Malaysia on Tuesday were CHIN HIN GROUP, CIMB GROUP, ECONPILE, FAJARBARU BUILDERS, HAP SENG, MULTI-USAGE HOLDINGS, SCOMI ENG, SOUTHERN STEE and TA ANN..

Business

CIMB Research ups BAT target price, retains Reduce rating

KUALA LUMPUR: CIMB Equities Research raised its dividend discount model based target price slightly to RM55.50 as it rolled over its valuation year and introduced the earnings per share (EPS) for FY18.

Business

Maersk, MSC, 13 others offer to settle EU pricing probe

BRUSSELS: Leading shipping container groups Maersk, MSC and 13 other firms have offered to change their pricing practices to settle an EU antitrust probe and stave off any fines, three people familiar with the matter said on Wednesday.