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Summary of business news from Feb 22 to 28
Highlights of last week’s stories – Genting, AirAsia, telecommunications, AMMB
Australia considers aid to Qantas once subsidy ends
SYDNEY: Australia’s treasurer said he’s considering measures to support firms like Qantas Airways Ltd and others that are still struggling with fallout from the coronavirus pandemic, once the government’s JobKeeper wage subsidy expires late next month.
China transport sector off to a good start
BEIJING: Although passenger trips dropped in January amid effective measures to contain Covid-19, China’s transport sector has seen a good start to the year, with a huge growth in investment and freight volume compared with last year, posting double-digit growth over 2019, the Ministry of Transport said.
Absent guidance takes shine off Europe’s stellar earnings season
LONDON: With Europe’s results season wrapping up, the main takeaway has been not the broadest earnings beat in about 14 years, but rather a dearth of guidance from many companies on a still uncertain future.
CPPIB goes for safe pick in Graham
TORONTO: Mark Machin’s big mistake got him drummed out of Canada’s national pension manager in a matter of hours. It’s a turn of events that puts the fund in the hands of a former industrial scientist who has made few waves in the world of finance.
SMEs not in favour of continued travel ban
KUALA LUMPUR: Small businesses are not in favour of any continued travel restrictions even as the country kicks off its immunisation programme.
Airline stocks soaring, but there’s still a long way back
FOR all the optimism about travel restarting as vaccines are rolled out, airline stocks still have a way to go to make up the ground they lost in the pandemic. It may take signs of a recovery in long-haul flights for the sector to make further gains.
Buffett upbeat on US and Berkshire, buys back stock
NEW YORK: Warren Buffett's enthusiasm for the future of America and his company Berkshire Hathaway Inc has not been dimmed by the coronavirus pandemic.
MAHB incurs a net loss of RM685mil in Q4
KUALA LUMPUR: Hit by the ongoing revenue slump, Malaysia Airports Holdings Bhd (MAHB) recorded a net loss of RM685.02mil in the fourth quarter ended Dec 31,2020, versus a net profit of RM29.51mil a year ago.
