Business

Tie-ups key to survival in 'lower for longer' oil era

By Zarina Zakaria - Saturday, 25 June 2016.

KUALA LUMPUR: In the current environment of prolonged low oil prices, dubbed the “lower for longer” era, players in the oil and gas (O&G) industry are defying the odds through collaboration.

Latest

Ringgit to decline to 4.15 versus US dollar next week

By Bernama - Saturday, June 25, 2016 - 13:26

KUALA LUMPUR: The ringgit is likely experience further correction next week to RM4.15 per US dollar following the shocking referendum by Britain to exit the European Union (EU).

Joint efforts result in Malaysia's first Tension Leg Platform

Saturday, June 25, 2016 - 11:01

KUALA LUMPUR: Malaysia’s first Tension Leg Platform (TLP), which was completed in April, is a result of a collaboration among major oil players — a signal that joint efforts are needed to remain sustainable during the “lower for longer” period.

Brexit: IMF urges 'smooth transition' to a new economic relationship

By AFP - Friday, June 24, 2016 - 22:30

WASHINGTON: IMF chief Christine Lagarde called on Britain and Europe on Friday to work together to ensure that Britain’s pullout from the European Union will take place smoothly.

G7 warns of 'adverse implications' from Brexit-linked market volatility

By AFP - Friday, June 24, 2016 - 22:06

TOKYO: Finance ministers and top central bankers from the Group of Seven warned that Britain’s vote to quit the European Union could have “adverse implications“, after the pound dived to three-decade lows and equity markets flew into a tailspin.

Malaysia will explore bilateral FTA with the UK: Mustapa

By RUPA DAMODARAN - Friday, June 24, 2016 - 19:39

KUALA LUMPUR: Malaysia will explore the possibility of having a bilateral free trade agreement with the United Kingdom said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Bank of England to take to 'all necessary steps'

By AFP - Friday, June 24, 2016 - 14:41

LONDON: The Bank of England will take “all necessary steps” to ensure monetary and financial stability after Britain’s decision to leave the European Union, it said Friday.

Britain votes to leave EU, unleashing global turmoil

By Reuters - Friday, June 24, 2016 - 13:54

LONDON: Britain has voted to leave the European Union, results from Thursday’s landmark referendum showed, a stunning repudiation of the nation’s elites that deals the biggest blow to the European project of greater unity since World War Two.

Kelington Group expects better financial year for 2016

By Farah Adilla - Friday, June 24, 2016 - 11:54

PETALING JAYA: Kelington Group Bhd expects a better financial year for 2016 on the back of its strong outstanding orderbook of RM250 million.

Pound collapses to lowest since 1985 on Brexit shock: Bloomberg

By AFP - Friday, June 24, 2016 - 11:50

TOKYO: The pound collapsed to its lowest level since 1985 as the unit takes a beating on fears that Britain will vote to leave the European Union, in what critics warned would be a hammer blow to financial markets.

KLM adds three more flights a week from KL to Amsterdam

By BILQIS BAHARI - Friday, June 24, 2016 - 11:32

SEPANG: KLM Royal Dutch Airlines has added three weekly flights from Kuala Lumpur (KL) to Amsterdam, bringing it to a total of 10 flights a week.

'Low foreign liquidity overhang'

By AMIR HISYAM RASID - Friday, June 24, 2016 - 11:03

KUALA LUMPUR: There is no pressing need for Bursa Malaysia to raise the amount of cash firms must pledge to cover trading positions amid concerns over market volatility linked to Britain’s vote on whether to exit the European Union.

Top developers hit by weak mart

By CHERYL YVONNE ACHU - Friday, June 24, 2016 - 11:00

KUALA LUMPUR: The country’s leading listed property companies have seen their sales retreat from the peak in 2013, falling at double-digit rates in 2014 and last year, said RAM Rating Services Bhd.

Showdown talks soon between MAHB, MOT and AirAsia

By BILQIS BAHARI - Friday, June 24, 2016 - 09:58

SEPANG: Showdown talks are expected to be held soon between Malaysia Airports Holdings Bhd (MAHB), the Transport Ministry and AirAsia Bhd over the issue of Kuala Lumpur International Airport 2 (klia2).

Ringgit opens stronger against US Dollar at 4.01

By Bernama - Friday, June 24, 2016 - 09:35

KUALA LUMPUR: The ringgit opened stronger against the US dollar today ahead of the outcome of Britain’s referendum on European Union membership, dealers said.

Pound plunges as first results show strong Brexit vote

By AFP - Friday, June 24, 2016 - 09:00

HONG KONG: The pound plunged on Friday morning and stock traders moved nervously as early results from Britain’s knife-edge EU referendum gave surprisingly strong wins for those wanting to leave the bloc.

Impact and volatility of UK referendum could spill over onto financial markets: BNM​

By RUPA DAMODARAN - Thursday, June 23, 2016 - 18:21

KUALA LUMPUR: The central bank said it is monitoring the UK referendum on its European Union membership and any potential emerging risks and challenges to the domestic financial markets.

Brexit or remain, it's all good for Asia

By FRANCIS DASS - Thursday, June 23, 2016 - 14:06

KUALA LUMPUR: Today's UK's European Union referendum, which will decide on whether Britain remains in the union or leaves it (i.e. Brexit), will spell a positive economic spillover effect for Asia, regardless of which way the votes go.

Brexit: Impact on Asian economies small, commodity-related impact for Malaysia, says Credit Suisse

By RUPA DAMODARAN - Thursday, June 23, 2016 - 12:49

KUALA LUMPUR: Asian exports do not rely heavily on UK demand hence the direct impact on the regional economies ex-Japan would likely be small in the event of a possible exit from the EU, says Credit Suisse.

Pound hits 2016 high as Britain gears up for Brexit vote

By AFP - Thursday, June 23, 2016 - 11:47

TOKYO: The pound on Thursday rallied to its strongest level against the dollar this year, just hours before Britain’s knife-edge vote on its future in the European Union kicks off.

MBDC to help firms develop bioeconomy

By SHAREN KAUR - Thursday, June 23, 2016 - 11:02

KUALA LUMPUR: Malaysian Bioeconomy Development Corp (MBDC) Sdn Bhd plans to help companies in the Middle East and Africa harness the potential of bioeconomy as a new source of economic growth.

'Impact limited to only few PLCs'

By Farah Adilla - Thursday, June 23, 2016 - 11:01

KUALA LUMPUR: Malaysian public-listed companies (PLCs) with significant investments in the United Kingdom will be in focus over the next few days as UK decides on its future in the European Union.

Matrade sees no significant effect on trade

Thursday, June 23, 2016 - 11:01

KUALA LUMPUR: Malaysia-Europe trade will not be significantly affected if Britain choses to exit the European Union (EU) as the country is not Malaysia’s main trading partner in the union, said Malaysia External Trade Development Corporation (Matrade) chief executive officer Datuk Dzulkifli Mahmud.

Asean fundamentals should cushion impact

By RUPA DAMODARAN - Thursday, June 23, 2016 - 11:00

KUALA LUMPUR: Asean fundamentals — higher growth potential, current account surpluses, and monetary and fiscal policy space — should buffer the region from any negative effect of a “leave” vote and a weaker European Union (EU) growth.

Ringgit opens firmer against US dollar

By Bernama - Thursday, June 23, 2016 - 09:44

KUALA LUMPUR: The ringgit opened firmer against the US dollar today as traders reduced foreign currency holdings, ahead of the British referendum on whether to exit or stay on in the European Union.

G7 to issue statement if Britain votes to exit EU - sources

By Reuters - Thursday, June 23, 2016 - 08:44

TOKYO: Group of Seven finance leaders will issue a statement stressing their readiness to take all necessary steps to calm markets if Britain votes to exit the European Union, said government officials with direct knowledge of the preparations.

Tesla dangles US$2.8B to bring SolarCity into its orbit

By AP - Wednesday, June 22, 2016 - 08:51

SAN FRANCISCO: Electric car maker Tesla Motors wants to buy solar panel maker SolarCity for up to US$2.8 billion in an attempt to create a one-stop shop for cleaner energy as consumers become more concerned about fossil fuels harming the environment.

AirAsia refuses to acknowledge klia2 name: It's LCCT2 for us

By BILQIS BAHARI - Tuesday, June 21, 2016 - 13:56

SEPANG: Asia's largest low-cost carrier, AirAsia will continue to refer to the Kuala Lumpur International Airport 2 (klia2) as Low-Cost Carrier Terminal 2 (LCCT2).

Economic uncertainty no barrier for Heitech Padu in targeting new business

By FRANCISS DASS - Tuesday, June 21, 2016 - 13:42

SUBANG JAYA: Economic uncertainty is not stopping IT systems and technology services provider Heitech Padu Bhd from continuing pitching for new projects globally.

Sona Petroleum to close shop

By LIDIANA ROSLI - Tuesday, June 21, 2016 - 11:24

PETALING JAYA: Embattled special purpose acquisition company Sona Petroleum Bhd is set to "close shop" after failing to make its qualifying acquisition (QA).

'Airlines should help each other'

By A jalil hamid and Bilqis Bahari - Tuesday, June 21, 2016 - 11:02

SEPANG: Excerpts from the second part of the interview with AirAsia group chief executive officer (CEO) and co-founder Tan Sri Tony Fernandes.