Sunday, July 31st, 2016


Air France strike, in fifth day, has affected 150,000 and costs ‘millions of euros’

PARIS, July 31 — Thousands of people faced flight cancellations in France today, the fifth day of a strike by Air France flight crew at the height of the holiday travel period, the airline said. So far the strike has affected around 150,000 people, the airline said. Some 900 flights, or about one in five, have been cancelled since the action began on Wednesday, the airline said, estimating the cost to the company at “tens of millions of euros”. Some flights have gone ahead but with a reduced passenger loadRead More

Saudis lower oil price to Asia most in 10 months in sign of glut

DUBAI, July 31 — Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light sold to Asia by the most in 10 months as refineries grapple with falling margins and oversupply. State-owned Saudi Arabian Oil Co said today it will sell cargoes of Arab Light in September at US$1.10 (RM4.43) a barrel below Asia’s regional benchmark. That is a pricing cut of US$1.30 from August, the biggest drop since November, according to data compiled by Bloomberg. The company was expected to lower the pricing by US$1Read More

Bangladesh fuel oil tender attracts lower premiums than term deals

DHAKA: Bangladesh Petroleum Corp (BPC) has received offers in its first tender to buy fuel oil at premiums lower than its term deals, two company sources said on Sunday. The tender was issued as part of an effort to move away from direct-term deals with fuel products suppliers in a bid to buy at cheaper rates. A total of nine international oil and trading companies have been competing to win the tender for 160,000 tonnes of 180-centistoke high sulphur fuel oil. The tender closed on July 20 and is validRead More

This €36b Finnish fund says Russia is its biggest worry

HELSINKI, July 31 — Sharing the European Union’s longest border with Russia can provide a unique perspective when it comes to assessing the region’s biggest geopolitical threat. The man running one of the largest funds in Finland — a country that has avoided provoking Russia by staying outside Nato — says Europe’s relationship with its eastern neighbour is his top concern when he goes over the list of geopolitical flash points threatening to destabilize the global economy. “The big problem is the situation between the EU and Nato against Russia,”Read More

Malaysian keen on enhancing trade with Indonesia, says envoy

JAKARTA, July 31 — Malaysia is keen on unlocking the potential for bilateral trade with Indonesia when their leaders meet at the 11th Annual Consultation here tomorrow, Malaysian Ambassador to Indonesia Datuk Seri Zahrain Mohamed Hashim said. It will be the first annual consultation involving Prime Minister Datuk Seri Najib Razak and Indonesian President Joko Widodo, fondly known as Jokowi, since the latter assumed presidency in 2014. Malaysia and Indonesia have set a bilateral target of advancing trade to as much as US$30 billion (RM120.8 billion) by 2014, but itRead More

CIMB-Principal eyes RM150m subscription to new bond fund that invests in Asia-Pacific

KUALA LUMPUR (July 31): CIMB-Principal Asset Management Bhd has launched a three-year close-ended bond fund that invests in the potential growth of Asia-Pacific countries such as South Korea, Hong Kong, Indonesia and Australia. Dubbed “CIMB-Principal Total Return Bond Fund 3”, the new fund aims to achieve potentially higher returns than CIMB Bank Bhd’s three-year fixed deposit (FD) rate, by investing up to 100% of its net asset value in a diversified portfolio of debt instruments, money market instruments and deposits.Categories: Latest NewsCorporate Source: The Edge Tags: bond, kuala lumpur, pacific,Read More

Reclaimed city in southern Malaysia triggers ecology fears

This picture taken on April 19, 2016 shows the scale model of development at Forest-City on one of the man-made islands on the Malaysian side of the Straits of Johor.  
A planned multi-billion-dollar new city near Singapore is attracting interest from investors with promises of luxury living but there are questions over its future owing to China's economic woes and warnings of environmental catastrophe. / AFP PHOTO / ROSLAN RAHMAN / TO GO WITH AFP STORY:  SINGAPOREMALAYSIA-PROPERTY-REAL-ESTATE-ENVIRONMENT -  FOCUS BY MARTIN ABBUGAO

JOHOR BAHRU, Malaysia – A planned multi-billion-dollar new city near Singapore is attracting interest from investors with promises of luxury living but there are questions over its future owing to China’s economic woes and warnings of environmental catastrophe. Forest City, a $42 billion futuristic “eco-city” of high-rises and waterfront villas, will sit on 4 man-made islands on the Malaysian side of the Johor Strait just an hour from Singapore. Offering 700,000 residential units as well as shopping malls, international schools, hotels, convention venues and medical facilities on 3,425 acres (1,370Read More

Pua: Cabinet must put a stop to RM60b East Coast Rail Link project

KUALA LUMPUR (July 31): Malaysia must not embroil itself in a second international money laundering scam in order to cover up the first, which will cement Malaysia’s notoriety as the kleptocratic capital of the world, said opposition lawmaker Tony Pua.Categories: Latest NewsCorporate Source: The Edge Tags: kuala lumpur, malaysia

DAP calls off snap Penang election

KUALA LUMPUR (July 31): DAP has called off plans to hold a snap general election in Penang after the PKR leadership did not agree with having early polls. “DAP will not press ahead with our proposal to dissolve the Penang state assembly and conduct state general election following a quick consultation with party leaders and the Penang state leadership,” Penang Chief Minister and DAP secretary general Lim Guan Eng in a statement today.Categories: Latest NewsCorporate Source: The Edge Tags: guan eng, kuala lumpur

DAP will not proceed with proposals for snap Penang polls

FLASH: DAP will not proceed with  proposals for snap Penang polls Categories: Latest NewsCorporate Source: The Edge No tags for this post.