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SINGAPORE: DBS Group Holdings Ltd , South-East Asias biggest lender, posted a 12% rise in thirdquarter net profit, beating expectations on a sharp drop in bad debt charges and on doubledigit growth in income from its core lending business.
Malaysia's blue chips closed at a more than two-week high on Wednesday, underpinned by gains in Genting Bhd and banks while key regional markets surged on more upbeat news from Asian powerhouse China.
BEIJING/SHANGHAI: Chery Automobile Co, once China's largest home-grown auto maker, is relying on government subsidies to turn a profit while domestic rivals Great Wall Motor Co 601633.SS2333.HKand Geely Automobile Holdings pull ahead.
FOR a region made up of 10 economies, close to 600 million people and a total gross domestic product of some RM6 trillion, Asean can be quite a force to be reckoned with.
HONG KONG: Global buyout fund KKR amp; Co L.P. has placed a bet on China's US$38 billion youth apparel retail market, saying on Wednesday that it will acquire a stake in privately held retailer Novo Holdco Ltd for $30 million.
PETALING JAYA: Industry executives say the stimulus measures brought on by the US Federal Reserve and European Central Bank (ECB) have yet to be fully priced into gold, despite the profit-taking that immediately followed the commoditys rally on Friday when it rose to its highest in seven months.
KUCHING: Six banks, including Malaysian ones, have to date indicated their participation to fund OM Materials (Sarawak) Sdn Bhds (OM Sarawak) US$592mil (RM1.87bil) ferro-alloy smelting project in Samalaju Industrial Park in Bintulu.
BASEL: Malaysia's central bank has scope to lower interest rates if the global economy worsens, governor Tan Sri Dr Zeti Akhtar Aziz said.