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Lower on selling pressure
KUALA LUMPUR: Share prices on Bursa Malaysia ended lower on selling pressure on blue chips, which dragged down the key index into negative territory throughout the day.
China Tuesday tried easing US concerns over China's US assets
BEIJING: An official in charge of China's foreign reserves tried to ease American concern Tuesday about the political impact of Beijing's huge holdings of U.S. government debt.
Airbus maker suffers US$1bil loss
PARIS: Airbus parent company EADS NV says it lost over euro1 billion (over $1 billion) in the fourth quarter after provisions for the A400M military transport plane and its A380 superjumbo passenger airliner weighed on earnings.
Market down on profit-taking
KUALA LUMPUR: Share prices on Bursa Malaysia were lower at midday, as investors continued to lock in profits after the market reached a fresh high yesterday.
FBM KLCI dips on profit-taking
KUALA LUMPUR: Share prices on Bursa Malaysia yielded to profit-taking after an impressive gains on Monday.
Google dangles ultrafast broadband and cities leap
DULUTH, Minnesota: Wearing just a T-shirt and shorts, Mayor Don Ness strolled to the end of a dock jutting into frigid Lake Superior. He grinned, waved his arms to a cheering crowd, and jumped in.
If you are confused about the market and economy you have company
NEW YORK: If you're confused about the outlook for the U.S. economy and stocks one year after the market hit bottom, then you've got good company - the Wall Street economists and strategists who are supposed to have this all figured out.
US stocks trade flat after more corporate dealmaking
NEW YORK: Stocks ended mixed Monday after a new round of mergers and acquisitions raised some hope for the U.S. economy.
Oil hovers below US$82 after monthlong run-up(update)
SINGAPORE: Oil prices hovered below US$82 a barrel Tuesday in Asia, losing momentum after a monthlong run-up fueled by growing investor optimism about global economic growth.
Banks raise rates
KUALA LUMPUR: Banks have begun raising their base lending rates (BLRs) following Bank Negara?s move to lift the overnight policy rate (OPR) by 25 basis points last week.
Industrial Production expected to expand
PETALING JAYA: The country?s factory output will continue to expand in the first half of the year compared with the same period last year due to the low base effect stemming from a contracting global economy which led to a drop in demand for goods.
S'wak planters lose RM1bil annually due to labour shortage
KUCHING: Sarawak oil palm planters are hit hard by the acute labour shortage which has caused enormous economic losses to the state.
YTL Corp unit to acquire Japanese resort for RM222mil
PETALING JAYA: YTL Corp Bhd?s wholly-owned subsidiary YTL Hotels & Properties Sdn Bhd has entered into an agreement to purchase a Japanese village resort for 6 billion yen (about RM222mil).
Wahid: Pre-emptive measures have supported the economy
KUANTAN: The consolidation programme for the domestic banking sector introduced by Bank Negara after the financial crisis in 1998 and the Government?s RM67bil stimulus package to boost the economy have helped to make banks bigger and stronger and more resilient to weather the recent rough global financial problems.
Pantech banks on Saudi plant
KUALA LUMPUR: Pipes and fittings maker Pantech Group Holdings Bhd expects its new manufacturing plant in Saudi Arabia, slated to start operating in the current financial year ending Feb 28, to generate revenue of 50 million riyal (RM44.56mil) in the first year of operation.
Bali dreams for Desaru
DESARU: The Government?s investment arm, Khazanah Nasional Bhd, plans to turn Desaru, on the eastern coast of Johor, into one of the most popular tourist destinations in the region.
Stamford College to build steel mill
PETALING JAYA: Stamford College Bhd expects to build a steel mill costing RM29.79mil as part of its business diversification plans.
CBS Technology gets TNB contract
PETALING JAYA: CBS Technology Bhd subsidiary Cyber Business Solutions Sdn Bhd has been awarded a RM3.13mil contract by Tenaga Nasional Bhd, the utility company said in a filing to Bursa Malaysia.
LCL, AGC sign revamp accord
PETALING JAYA: LCL Corp Bhd, a PN17-status company, said it has entered into a memorandum of agreement with Axis Global Capital Sdn Bhd (AGC) to discuss and negotiate the restructuring of LCL via a corporate exercise to be determined later.
EPF raises MRCB stake
PETALING JAYA: The Employees Provident Fund (EPF) acquired another 24.8 million shares in Malaysian Resources Corp Bhd (MRCB) last Friday.
MMM slips into PN17
PETALING JAYA: Malaysian Merchant Marine Bhd (MMM) has slipped into PN17 status. The company said it was unable to complete the purchase of a chemical tanker which was to be deployed to service a new and recurring revenue stream.
Axis shares to be suspended
PETALING JAYA: Bursa Malaysia yesterday said trading in the securities of Axis Inc Bhd will be suspended with effect from March 16, pursuant to paragraph 8.14C of the listing requirements of Bursa Securities and paragraph 4.0 of Practice Note 29 of the main market listing requirements.
AE Multi: No reason for stock surge
PETALING JAYA: AE Multi Holdings Bhd was issued an unusual market activity (UMA) query by Bursa Malaysia yesterday following sharp increases in its share price and trading volume recently.
MAS rights issue oversubscribed
KUALA LUMPUR: Malaysia Airlines? (MAS) one-for-one rights issue of 1.67 billion shares at RM1.60 each has been oversubscribed by 7.67%.
Support Line
K.M. Lee writes on: Faber Group, Unisem and Zelan
Banking stocks propel FBM KLCI to a two-year high
PETALING JAYA: Banking stocks are the big winners of a higher interest rate, with their share prices up sharply for a second straight day on expectation that bottomlines will be boosted by fatter margins amid a recovering economy.
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