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Business 26 Apr 2013 | 12:00 AM

Hong Kong to unveil reference rate for offshore yuan markets

SHANGHAI: The Hong Kong Monetary Authority (HKMA) said it would launch an interbank offered rate for the offshore yuan market (CNH) in June, a long-awaited move that will facilitate the creation of more hedging options for those investing or trading in the currency.

Business 26 Apr 2013 | 12:00 AM

JTI sees challenging industry outlook Company worried about impact of illegal cigarette sales, cheaper local brands

KUALA LUMPUR: JT International Bhd (JTI) is expecting the industry to “remain extremely challenging” this year due to the continued sale of illegal cigarettes and the impact from certain local brands being sold below the Government-mandated minimum cigarette price.

Business 26 Apr 2013 | 11:20 AM

Starbucks raises outlook but shares fall

NEW YORK: Starbucks Corp reported higher quarterly profit on Thursday that matched Wall Street estimates and it raised its full-year earnings forecast.

Business 26 Apr 2013 | 2:04 PM

Hershey's profit beats estimates as costs drop

NEW YORK: Chocolate maker Hershey Co reported a better-than-expected quarterly profit and boosted its full-year profit forecast as lower commodity prices and new products boosted margins.

Forex 27 Apr 2013 | 10:30 AM

Global forex market

GIVEN the stimulus measures of the Bank of Japan went unopposed at the G-20 meeting, investors took the opportunity to sell the currency taking the US dollar/yen pair but it failed to break the psychological 100 mark on the back of Dish outbidding Softbank's bid and the extreme dump resulting from the Boston terror attack.

Business 27 Apr 2013 | 10:33 AM

Eye on stock

A FUTILE attempt to recover due to lack of follow-through interest, dragged the shares of Lion Industries Corp Bhd (Lion Inds) down from the RM1.10 level on April 9 to a low of 96.5 sen on April 16, in a week-long correction process.

Business 29 Apr 2013 | 1:23 PM

No indication of systematic fraud among German bank directors

FRANKFURT: German financial markets watchdog Bafin has not turned up any evidence that German bank directors were involved in manipulating benchmark interest rates, a top Bafin official has told the Wall Street Journal Deutschland.

Business 29 Apr 2013 | 1:43 PM

Tin price expected stay above US$21,000 a tonne this week

KUALA LUMPUR: Tin price on the Kuala Lumpur Tin Market (KLTM) is expected stay above US$21,000 a tonne this week on short covering, said a dealer.

Business 02 May 2013 | 8:40 AM

Prasarana-PR1MA to build homes near LRT

PETALING JAYA: State-owned public transport operator and ownerSyarikat Prasarana Negara Bhd, in a strategic partnership with the 1Malaysia People's Housing (PR1MA) unit, will build affordable homes alongside light rail transit (LRT) stations.

Business 02 May 2013 | 9:49 AM

Pentagon may soon clear use of Apple, Samsung, BlackBerry devices

WASHINGTON: The Pentagon is expected to clear Apple, Samsung and BlackBerry mobile devices for use on Defense Department networks in the next few weeks, part of an effort to ensure the military has access to the latest communications technology, a spokesman said on Wednesday.