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SINGAPORE/SHANGHAI: Chinese financial investors betting on a rebound in oil prices are filling commercial storage tanks held by the Shanghai futures exchange just as fast as the exchange can find them.
NEW YORK: Oil prices tumbled about 2% on Friday on rising U.S.-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
REVIEW: Trading on Bursa Malaysia took on a frenetic pace over the past week with a record daily trading volume of 11.21 billion shares recorded on Monday as investors flocked to equities in an an attempt to catch a rally.
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which saw its net profit slump by 68% to RM4.5bil in the first quarter ended March 31, 2020, sees a very challenging year.
KUALA LUMPUR: Uzma Bhd's subsidiary Uzma Energy Ventures (Sarawak) Sdn Bhd and EQ Petroleum Developments Malaysia Sdn Bhd (EnQuest) have mutually terminated the Tanjong Baram small field risk service contract (SFRSC) with Petronas following the economic cut-off as agreed in the terms of the contract.
NEW DELHI: KKR & Co Inc will invest $1.5 billion in Reliance Industries' Jio Platforms, its biggest investment in Asia to date and bringing the amount of new funds raised by the Indian digital company this month to a massive $10 billion.
BEIJING: Economic fallout from the coronavirus pandemic caused China’s government to avoid setting a formal GDP growth forecast for this year, while predicting a swelling budget deficit and setting a more modest target for employment expansion.
KUALA LUMPUR: Shares in Poly Glass Fibre (M) Bhd jumped more than 40% in early trade Friday on news of its venture into the manufacturing melt-blown non-woven fabric for surgical face masks.
TOKYO: Japan's core consumer prices fell for the first time in more than three years in April on an annual basis, as weak oil prices and coronavirus lockdown measures heightened deflation risks.
NEW YORK: Wall Street ended lower on Thursday, a day after hitting two-month highs, on a fresh wave of China-U.S. tensions that raised doubts about the trade deal reached early this year between the world's two largest economies.