Higher heating oil prices on concerns over unseasonably cold weather across America also supported the oil complex, traders said.
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) ended the week sharply higher by US$450 to US$20,050 a tonne, as the metal’s bullish performance on the London Metal Exchange (LME) fuelled traders’ optimism.
KUALA LUMPUR: The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contracts closed untraded yesterday.
KUALA LUMPUR: Gold futures contracts ended mostly lower yesterday on weaker demand.
KUALA LUMPUR: Crude palm oil (CPO) futures closed higher yesterday in anticipation of lower production this month as the seasonally weaker yield kicks in, a dealer said.
KUALA LUMPUR: The ringgit closed higher against the US dollar today after three straight days of losses, as investors began to return to emerging Asian currencies, dealers said.
KUALA LUMPUR: The Malaysian rubber market closed lower yesterday due to the stronger ringgit against the US dollar, a dealer said.
THE United States Federal Reserve faces pressure to restrict Wall Street’s control over commodities such as oil, aluminium and coal after lawmakers said banks tried to exploit rules and influence prices to their benefit.
FRANKFURT: European Central Bank (ECB) president Mario Draghi said yesterday the ECB is ready to ramp up its contested asset purchases “without any undue delay.”
NEW YORK: Alibaba Group Holding Ltd’s new long-term debt rose in initial trading as the Internet company’s US$8 billion (RM27 billion) debut gave traders, who were allocated bonds in the sale, the opportunity to turn quick profits.
SHANGHAI: Walt Disney Co plans to expand a partnership with state-owned Shanghai Media Group to include co-production of movies along with development, distribution and marketing of television shows.
WASHINGTON: Takata Corp, the company being investigated for making airbags linked to the deaths of motorists, apologised yesterday at a United States Senate hearing as two lawmakers said a sixth fatality may be related.
NEW YORK: Six years after Bernard Madoff’s Ponzi scheme collapsed, the cost of liquidating his defunct investment advisory firm to repay thousands of victims has topped US$1 billion (RM3.4 billion), though his former customers aren’t footing the bill.
TOKYO: Blackstone Group LP agreed to buy GE Japan Corp’s residential-property business for more than 190 billion yen (RM5.4 billion) to expand its apartment holdings in Japan.
THAILAND’S government will accelerate spending on mass transit railways and roads to counter falling exports and boost economic growth, its deputy transport minister said.
SINGAPORE: Singapore said yesterday it plans to regulate fast-growing third-party taxi booking services like Uber and GrabTaxi for the first time, capping fees and requiring them to dispatch only licensed cabs and drivers.
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