Business

'Malaysia should continue to boost fiscal position'

By RUPA DAMODARAN - Friday, 6 May 2016.

KUALA LUMPUR: Malaysia should stay on the path of strengthening its fiscal position and balancing the books by 2020, said the International Monetary Fund (IMF).

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Exports rebound by 1pct in Q1: MITI

By RUPA DAMODARAN - Friday, May 6, 2016 - 12:54

KUALA LUMPUR: Exports rebounded by one percent during the first quarter of 2016 compared to a decline during the same period a year ago.

Country remains steadfast in building up policy buffers

By RUPA DAMODARAN - Friday, May 6, 2016 - 11:01

KUALA LUMPUR: Malaysia remains committed to further strengthening policy buffers and reducing vulnerabilities, in the face of global growth uncertainties and increasing risk of international financial market and capital flow volatility.

Ringgit opens marginally lower against US dollar

By Bernama - Friday, May 6, 2016 - 09:35

KUALA LUMPUR: The ringgit opened marginally lower against the US dollar today, as traders awaited the US Non-Farm Payroll data, which could determine the greenback’s performance.

Proton appoints Syed Faisal as Non-Executive Chairman

By Bernama - Thursday, May 5, 2016 - 18:34

KUALA LUMPUR: Proton Holdings Bhd has appointed Datuk Seri Syed Faisal Albar Syed Ali Rethza Albar as its Non-Executive Chairman effective today, following the resignation of Tun Dr Mahathir Mohamad on March 31, 2016.

MBSB still eyes full-fledged banking status

By BILQIS BAHARI - Thursday, May 5, 2016 - 15:46

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) is ramping up preparations to become a fully fledged banking institution in the upcoming future.

'Muhammad best choice to helm Bank Negara Malaysia'

By RUPA DAMODARAN - Thursday, May 5, 2016 - 11:01

KUALA LUMPUR: Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah described Datuk Muhammad Ibrahim as the apt and best choice to helm Bank Negara Malaysia.

Spearheading world's first Islamic venture capital fund

By RUPA DAMODARAN - Thursday, May 5, 2016 - 11:01

KUALA LUMPUR: Malaysia will take the lead in setting up the world’s first Islamic venture capital fund that will spawn the growth of start-ups, said Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah.

Ringgit opens lower against US dollar

By Bernama - Thursday, May 5, 2016 - 09:39

KUALA LUMPUR: The ringgit opened lower against the US dollar today, weighed on by lower oil and commodity prices.

Timely policy responses enabled Malaysia to weather shocks: IMF executive board

By RUPA DAMODARAN - Thursday, May 5, 2016 - 00:16

KUALA LUMPUR: The International Monetary Fund, in giving the thumbs up for the outlook of the Malaysian economy, said pushing ahead with structural reforms will be important to raise the growth potential.

Prasarana announces 96 successful tender applicants for LRT3 project

By LIDIANA ROSLI - Wednesday, May 4, 2016 - 18:02

KUALA LUMPUR: Prasarana Malaysia Bhd today announced the 96 successful tender applicants out of 124 which met the requirements for the 37km Light Rail Transit Line 3 (LRT3) project.

Indonesia growth slower than forecast in blow to Widodo

By AFP - Wednesday, May 4, 2016 - 14:02

JAKARTA: Indonesia’s growth rate was slower than forecast in the first quarter of 2016, official data showed Wednesday, in a blow to President Joko Widodo’s efforts to boost Southeast Asia’s top economy.

World's first Islamic VC fund takes shape, led by Malaysia

By RUPA DAMODARAN - Wednesday, May 4, 2016 - 12:54

KUALA LUMPUR: The world's first Islamic venture capital fund will take shape at the end of this month, with Malaysia taking the lead.

Malaysia 2nd most attractive for infrastructure investment in Asia

By RUPA DAMODARAN - Wednesday, May 4, 2016 - 11:01

KUALA LUMPUR: Malaysia ranks No. 2 in terms of attractiveness for infrastructure investment in Asia.

Ringgit at 3.97 against USD

By Bernama - Wednesday, May 4, 2016 - 10:03

KUALA LUMPUR: The ringgit opened lower against the US dollar, pressured by lack of demand.

Market confident that 1MDB default risks are manageable: UOB Bank

By RUPA DAMODARAN - Tuesday, May 3, 2016 - 16:33

KUALA LUMPUR: Markets are showing some level of confidence that the risks to the recent 1MDB default on its interest payment are manageable, says UOB Bank.

Lights out: Philips to launch IPO for lighting division

By AP - Tuesday, May 3, 2016 - 14:52

THE HAGUE: Royal Philips NV says it is spinning off its iconic lighting division in an initial public offering so it can focus on its future as a health technology provider.

Bank Muamalat signs corporate integrity pledge with MACC

By Farah Adilla - Tuesday, May 3, 2016 - 14:45

KUALA LUMPUR: Bank Muamalat Malaysia Bhd has signed the Corporate Integrity Pledge of Malaysia Anti-Corruption Commission (MACC), in conjunction with the company's Integrity Day celebration today.

Bank Muamalat targeting 6-8pct loan growth this year

By Farah Adilla - Tuesday, May 3, 2016 - 13:22

KUALA LUMPUR: Bank Muamalat Malaysia Bhd is targeting a six to eight per cent loan growth this year, focusing on both consumer and corporate base loans.

EPF: Our exposure to 1MDB is very limited

By FRANCIS DASS - Tuesday, May 3, 2016 - 13:05

KUALA LUMPUR: The Employees Provident Fund (EPF) has minimal exposure to 1Malaysia Development Bhd's (1MDB) overall debts.

Malaysia ranks No 2 in Asia and No 5 globally for infrastructure investment

By RUPA DAMODARAN - Tuesday, May 3, 2016 - 13:03

KUALA LUMPUR: Malaysia ranks number two in terms of its attractiveness for infrastructure investment in Asia.

PMI drops to 47.1 in April, down from 48.4 in March

By RUPA DAMODARAN - Tuesday, May 3, 2016 - 12:19

KUALA LUMPUR: Malaysia's production level dropped in April with the Purchasing Managers' Index (PMI) signalling a sharper rate of deterioration in operating conditions.

Johari leads Msian delegation to ADB annual meeting in Frankfurt

By Bernama - Tuesday, May 3, 2016 - 12:00

KUALA LUMPUR: Deputy Finance Minister Datuk Johari Abdul Ghani is leading a Malaysian delegation to the 49th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) and the 19th ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting.

Bursa Malaysia praised for industry leadership role

By FRANCIS DASS - Tuesday, May 3, 2016 - 11:08

KUALA LUMPUR: The World Federation of Exchanges (WFE) and International Options Markets Association (IOMA) have given Bursa Malaysia high marks for taking a leadership role among exchanges.

EPF reports 4.91pct rise in annual contributions in 2015

By FRANCIS DASS - Tuesday, May 3, 2016 - 10:51

KUALA LUMPUR: The Employees Provident Fund (EPF) reported a rise of 4.91 per cent in annual contributions to RM59.98 billion against total annual amount withdrawn of RM44.25 billion, resulting in net inflows of RM15.73 billion in 2015.

Oil prices dip on rising Middle East supply

By Reuters - Tuesday, May 3, 2016 - 09:43

SINGAPORE: Oil prices dipped in early Asian trading on Tuesday on signs that production in the Middle East is continuing to rise, countering falls in US output and threatening to keep a global supply overhang in place for longer.

RM opens at 3.90 against USD

By Bernama - Tuesday, May 3, 2016 - 09:31

KUALA LUMPUR: The ringgit opened easier against the US dollar in the early session on profit-taking, dealers said.

Ferrari names Fiat Chrysler chief Marchionne as CEO

By AP - Monday, May 2, 2016 - 23:35

MILAN: Sergio Marchionne has been named CEO of Ferrari, while retaining his position as chairman, the super sports carmaker announced Monday.

CMA Oman's sukuk regulation aims to provide transparency

By Farah Adilla - Monday, May 2, 2016 - 14:23

KUALA LUMPUR: Capital Market Authority of Oman (CMA Oman) recently issued new sukuk regulations that aim to provide clarity and transparency to market players, while providing protection to investors in sukuk transactions.

KDF expects double-digit growth in derivatives trade

By Farah Adilla - Monday, May 2, 2016 - 11:36

KUALA LUMPUR: Kenanga Deutsche Futures Sdn Bhd (KDF) expects a double-digit growth in derivatives contracts traded on Bursa Malaysia Derivatives Bhd (BMD) this year as more online platforms become available in the market, making it easier to trade.

Set up high-powered tripartite housing task force: NUBE

By Bernama - Saturday, April 30, 2016 - 13:16

KUALA LUMPUR: The National Union of Bank Employees (NUBE) today proposed the setting up of a high-powered tripartite task force comprising representatives from the government, employers and employees to deal specifically with housing policies.