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Business

Malaysian palm oil price in biggest fall in 21 months as Indonesia axes export levy

JAKARTA:Malaysian palm oil futures suffered their biggest fall in more than 21 months on Monday after Indonesia, the world's top palm oil producer, announced measures to increase shipments.

Business

Higher gaming tax credit negative for Genting, says Moody's

KUALA LUMPUR: Moody's Investor's Service views the higher axes, fees and levies on the gaming industry as credit negative for the gaming industry.

Business

Packaging firm Versatile axes MD and CFO over missing RM2.3mil

PETALING JAYA: Packaging firm Versatile Creative Bhd has sacked managing director (MD) Datuk Wong Kong Choong @ Leong Kong Choong and chief financial officer (CFO) Tan Quok Eow over a missing sum of RM2.3mil.

Business

Deutsche Bank axes at least 7,000 jobs in trading retreat

FRANKFURT: Deutsche Bank is cutting more than 7,000 jobs to reduce costs and restore profitability while maintaining its international reach as its new chief executive seeks to reassure investors and clients.

Business

RBS axes further 259 British branches as expands e-banking

LONDON: British state-owned Royal Bank of Scotland (RBS) said on Friday it will close 259 branches and cut 680 jobs as it reduces costs and encourages customers to use online and mobile services.

Business

Australia's Telstra axes $4.4 bln fundraising plan after state partner's veto

SYDNEY: Telstra Corp, Australia's largest telecoms operator, dropped a plan to raise as much as A$5.5 billion ($4.4 billion) through an income securitisation deal after a government-backed business partner rejected the move, sending its shares tumbling.