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Business 11 Jan 2003 | 12:00 AM

Banks' biggest challenges in 2003

Banks in Malaysia are in for a challenging year. In its recent 2003 market Outlook Strategy report, RHB Research Institute maintains a neutral weighting on the sector and has forecast an anaemic 9 per cent growth in net banking profits for financial year 2003. The research house gives its outlook on the sector.

Business 22 Jan 2003 | 12:00 AM

Mizuho sees whopping US$16.5b loss for 2003

Japanese megabank Mizuho Holdings Inc is expecting a net loss of US$16.5bil for the year to March #8211; the biggest corporate loss ever in Japan -- as it dumps more bad loans, the latest example of a bank moving to clean up its balance sheet under pressure from the government.

Business 22 Jan 2003 | 12:00 AM

Govt to pump-prime economy using local funds

THE government plans to finance its proposed pump-priming package, details of which will be disclosed in March, through domestic sources, said Second Finance Minister Datuk Jamaludin Jarjis.

Business 28 Jan 2003 | 12:00 AM

Economists: US low interest rates could last until late summer

Economists cited turbulence on Wall Street over rising worries about a war with Iraq as a primary reason for why they think the Federal Reserve will leave interest rates at a 41-year low.

Business 30 Jan 2003 | 12:00 AM

Small borrowers loans up

LOANS of RM500,000 and below extended by the banking system to small borrowers registered notable increase, accounting for 53% of total loans outstanding as at end of December last year compared with 48% a year earlier, Bank Negara said.

Business 12 Feb 2003 | 12:00 AM

Foreign business news in brief

Foreign business news in brief including from Hong Kong that the chief executive of Asia Television (ATV) is reportedly in talks to sell part of his stake in the company to several investors, including Japan#8217;s Dentsu group.

Business 18 Feb 2003 | 12:00 AM

SMFG plans share issue to foreign investors

Sumitomo Mitsui Financial Group Inc (SMFG), Japan's second-largest banking group, said yesterday it plans to issue an additional 300 billion yen in preferred shares to foreign investors.

Business 20 Feb 2003 | 12:00 AM

StanChart upbeat on future as profit rises

Asian specialist bank Standard Chartered plc (StanChart) reported yesterday a 16% rise in annual profit that beat most forecasts and expressed optimism about its long-term prospects.

Business 22 Feb 2003 | 12:00 AM

Emerging economies need to strike balance

THERE is a need for emerging market economies to strike a balance between the need to maximise the benefits of the financial globalisation and to maintain financial stability for long-term sustainable growth, according to a Public Bank research paper published in the January issue of its I>Economic Review/I>.

Business 27 Feb 2003 | 12:00 AM

EPF keeps a steady course in sea of uncertainty

By Wong Sulong