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Business

Facebook to invest at least US$1 billion in news industry over next three years

February 25, 2021 - by admin - Leave a Comment

BENGALURU: Facebook Inc on Wednesday pledged to invest at least US$1 billion (RM4.04 billion) in the news industry over the next three years, days after a high-profile stand-off with the …

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Business

Press Metal net profit lower at RM457.2m in FY20

February 24, 2021 - by admin - Leave a Comment

KUALA LUMPUR: Press Metal Aluminium Holdings Bhd’s net profit was lower to RM457.2 million in the financial year ended Dec 31, 2020 from RM473.97 million in the previous year. Its …

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Business

Promise of cheap money keeps stocks buoyant

February 24, 2021 - by admin - Leave a Comment

SINGAPORE/MIAMI: Bond markets steadied, the U.S. dollar fell and stocks edged ahead on Wednesday after central banks from Washington to Wellington vowed to keep monetary policy loose for a long …

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Business

Chinese brokerage builds US$1 billion long position in copper contracts within four days

February 24, 2021 - by admin - Leave a Comment

SHANGHAI: Shanghai Dalu Futures, a brokerage on the Shanghai Futures Exchange, has amassed a US$1 billion (RM4.04 billion) long position in copper contracts within just four days, bourse data showed. …

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Business

Petron’s Q4 net profit rises to RM42m

February 23, 2021 - by admin - Leave a Comment

KUALA LUMPUR: Petron Malaysia Refining and Marketing Bhd’s (PMRMB) net profit rose to RM42.01 million in the fourth quarter ended Dec 31, 2020 (Q4 2020), from RM28.96 million posted in …

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Business

Goodyear to buy Cooper Tire for US$2.8 billion, nearly doubles presence in China

February 23, 2021 - by admin - Leave a Comment

NEW YORK: Goodyear Tire & Rubber Co said it would buy Cooper Tire & Rubber Co in a US$2.8 billion (RM11.32 billion) deal to beef up its portfolio in the …

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Business

Samsung retains top spot with 18.8% share of global smartphone market in 2020

February 23, 2021 - by admin - Leave a Comment

WASHINGTON: Strong sales of iPhone 12 models lifted Apple to the top of the global smartphone market in the fourth quarter, a survey showed on Monday. The report by market …

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Business

Vietnam central bank reduces frequency of foreign exchange interventions

February 22, 2021 - by admin - Leave a Comment

HANOI: The State Bank of Vietnam (SBV) said it has cut the frequency of its foreign exchange interventions to allow the Vietnamese dong to move in accordance with the market. …

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Business

Foreign net selling on Bursa at RM466.42m last week

February 22, 2021 - by admin - Leave a Comment

PETALING JAYA: Foreign investor was net seller again last week with outflow to the tune of RM466.42 million, according to MIDF Research. As market reopened on Monday last week, foreign …

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Business

Swiss spooked by using debt to prop up economy

February 22, 2021 - by admin - Leave a Comment

ZURICH: Germany, which is known for strict budgets, has tapped debt markets to prop up its virus-hit economy, while neighbouring Switzerland has consistently curbed borrowing despite calls to change course. …

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Business

AirAsia X proposes separate restructuring scheme for aircraft lessors

February 21, 2021 - by admin - Leave a Comment

KUALA LUMPUR: Long-haul budget airline AirAsia X Bhd (AAX) has proposed a separate restructuring programme for its aircraft lessors that aims to tackle their concerns, citing chance to recover rental …

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Business

Genetec Technology secures RM56m new orders

February 21, 2021 - by admin - Leave a Comment

PETALING JAYA: Genetec Technology Bhd has secured new orders worth RM56 million from new and existing customers. The new orders were secured for the month of December 2020 and up …

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Business

Malaysian digital leaders laud MyDigital blueprint

February 21, 2021 - by admin - Leave a Comment

EARLIER today, Prime Minister Tan Sri Muhyiddin Yasin unveiled the MyDigital initiative which will complement the 12th Malaysia Plan and the Shared Prosperity Vision 2030. Under the plan, Malaysia’s digital …

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Business

Petronas offers 13 blocks in Malaysia’s highly prolific basins

February 20, 2021 - by admin - Leave a Comment

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will be offering 13 offshore exploration blocks in Malaysia at the upcoming Malaysia Bid Round (MBR) 2021 launch on Feb 26, 2021. Also included …

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Business

Developers must pay compensation for delayed projects before Covid-19

February 20, 2021 - by admin - Leave a Comment

JOHOR BAHRU: The exemption for the Extension of Time (EOT) as stipulated in the COVID-19 Act (Act 829) involving the Housing Development (Control and Licensing) Act 1966 is only applicable …

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Business

SMTrack buys aircraft for RM27.08m

February 20, 2021 - by admin - Leave a Comment

PETALING JAYA: SMTrack Bhd has entered into an aircraft purchase agreement with management consultancy Cakerawala Solution International Sdn Bhd to purchase one unit used Boeing 737-400F series together with all …

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Business

Southern Power’s second plant comes on stream

February 19, 2021 - by admin - Leave a Comment

PETALING JAYA: Tenaga Nasional Bhd’s (TNB) 70%-owned subsidiary Southern Power Generation Sdn Bhd has come on stream, ready to supply 1,440 megawatt (MW) electricity power into the national grid from …

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Business

Mah Sing to develop affordable landed property project valued at RM656m

February 19, 2021 - by admin - Leave a Comment

PETALING JAYA: Mah Sing Group Bhd has unveiled a new development project on a 100-acre land in Bandar Baru Salak Tinggi, primarily comprising of affordable homes with an estimated gross …

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Business

Brent crude eases back from 13-month high

February 19, 2021 - by admin - Leave a Comment

NEW YORK: Oil prices steadied on Thursday, with Brent edging back from a 13-month high, after a sharp drop in US crude inventories supported prices, while buying spurred by a …

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Business

Sime Darby Plantation stages turnaround for fourth quarter, full year

February 18, 2021 - by admin - Leave a Comment

PETALING JAYA: Sime Darby Plantation Bhd posted a net profit of RM149 million in the fourth quarter ended Dec 31, 2020 compared with a net loss of RM58 million a …

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