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Oil prices rise on weakening dollar, but plentiful supplies cap gains
SINGAPORE: Oil prices rose on Thursday, driven up by a weakening dollar, but gains were capped by plentiful supplies and inventories despite an effort by OPEC and other producers to cut output and prop up the market.
CIMB Research upgrades MPI to Buy, higher target price
KUALA LUMPUR: CIMB Equities Research has upgraded Malaysian Pacific Industries (MPI) the stock from Hold to Add with a higher RM9.70 target price due to the higher earnings growth, driven by a recovery in smartphone demand.
Oil edges down as traders weigh U.S. stock build, OPEC cuts
NEW YORK: Oil prices ended less than 1% lower on Wednesday after data showed a build in U.S. crude inventories, reinforcing the view that oil prices are range bound, buoyed by expected OPEC production cuts while pressured by U.S. output growth.
Ichthys LNG dealt blow as major contractor pulls plug
July-September 2017 start-up likely to be delayed
BHP lifts shale spending as oil gains lure drillers to add rigs
SYDNEY: BHP Billiton Ltd, the largest overseas investor in US shale, boosted spending on its onshore oil and gas division as rising prices lure drillers to add rigs and spur a deals spree.
Bidvest can tap US$1b for deals outside S. Africa
JOHANNESBURG: Bidvest Group Ltd is seeking deals outside its South African home market and could borrow as much as US$1bil for acquisitions after it spun off its food-services unit last year, its chief executive officer said.
Posco profit rebounds as steel prices soar on China stimulus
SEOUL: Posco, South Korea’s largest steelmaker, posted a jump in annual profits as the global industry bounced back after China boosted its economy and prices soared.
Analysts upbeat about earnings outlook for Sasbadi
PETALING JAYA: Analysts are upbeat about the earnings outlook of Sasbadi Holdings Bhd, a publisher of print and digital educational materials.
Dow hits 20,000 as post-election rally resumes
NEW YORK: The Dow Jones Industrial Average traded above 20,000 for the first time on Wednesday, resuming a rally that began in the wake of US President Donald Trump’s surprise election victory.
