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Malaysia and China sign naval defence deal

BEIJING: The Malaysian government made a “landmark” decision to enter into a two-year defence deal with China to buy and build four littoral mission ships.

China Construction Bank gets Malaysian banking licence

PETALING JAYA: China Construction Bank Corp (CCB), ranked as the world’s second-largest bank, has been granted a Malaysian commercial bank licence by the Minister of Finance.

Public Bank closing in on Maybank for top bank title

PETALING JAYA: Public Bank Bhd (PBB) is closing in on Malayan Banking Bhd (Maybank) for the title of Malaysia’s most valuable bank.

Bank Negara official: Malaysia could consider yuan-ringgit framework

KUALA LUMPUR: Malaysia could consider a framework for the yuan-ringgit cross currency market as it looks to boost the use of the Chinese currency in its market, a central bank official said.

Kenanga IB assumes listing status

PETALING JAYA: Kenanga Investment Bank Bhd (Kenanga IB) which has become the holding company of the Kenanga group following the merger with and transfer of assets and liabilities of K&N Kenanga Holdings Bhd, will assume K&N Kenanga’s listing status today.

Khazanah Research: Socio-economic growth of middle class vital

PETALING JAYA: The socio-economic growth of the middle class should be given emphasis to ensure sustainable upward mobility in Malaysia, says Khazanah Research Institute (KRI).

Johari: 65% of GST income from import tax

KUALA LUMPUR: Some 65% of the additional RM20bil income from the goods and services tax (GST) implementation over the past one-and-a-half years came from taxes imposed on imported goods and services, said Finance Minister II Datuk Johari Abdul Ghani.

Inculcating the habit of saving money among pupils

KUCHING: Four primary schools in the state have been picked for the BSN School Carnival 2016, a programme aimed at inculcating the habit of saving money among pupils.

Standard Chartered profit misses estimates

LONDON: Standard Chartered Plc reported third-quarter profit that fell short of analyst estimates as revenue fell at all four of its divisions.

BP beats quarterly earnings estimates

LONDON: BP reported a near halving in third-quarter earnings and cut its 2016 investment plans by another US$1bil as weak oil prices cut into profits yet tighter spending helped the British oil major still beat analysts’ estimates.