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PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) has slashed its investment in the Refinery and Petrochemicals Integrated Development (Rapid) project by one-third over concerns on the future prospects of the synthetic rubber segment.
TOKYO: Asian stocks were off to a subdued start on Friday as caution toward a weekend meeting of oil producers tempered risk sentiment, while the dollar's advance slowed in wake of soft U.S. inflation data.
KUALA LUMPUR: Blue chips got off on a cautious start early Friday but sentiment firmed up on fund buying of Petronas Gas, Tenaga and RHB Capital.
LONDON: The world’s top oil exporters are burning through their petrodollar assets at an accelerating pace, increasing the pressure to reach a deal to freeze production to bolster prices.
NEW YORK: Citigroup Inc’s quarterly profit plunged 27% as it earned less from trading and investment banking and incurred higher costs related to shrinking some of its businesses.
KUALA LUMPUR: Cliq Energy Bhd, which has been named a respondent along with the Securities Commission (SC) in the judicial review application filed recently by Best Oracle Sdn Bhd, will not oppose the review. It will, however, proceed with the liquidation and dissolution process.
ABOARD THE USS JOHN C. STENNIS, SOUTH CHINA SEA/BEIJING (Reuters) - The chief U.S. defense official visited an American aircraft carrier transiting the disputed South China Sea on Friday, as China said one of its top military officers had visited islands and reefs in the region to oversee building work.