Saturday, April 22nd, 2017


Dollar firms vs euro with French election in focus

NEW YORK, April 22 ― The euro weakened against the US dollar yesterday as investors braced for tomorrow’s first round of a tight French presidential election. The euro was down 0.14 per cent against the dollar at US$1.0699 (RM7.50), off the…

China WMP growth eases in Q1 amid crackdown

SHANGHAI, April 22 ― The growth of Chinese wealth management products (WMPs) and interbank liabilities eased in the first quarter of the year, China’s banking regulator said today, amid a crackdown by Beijing on risky behaviour in the…

Petronas denies selling stake in US$1b Miri offshore project

KUCHING, April 22 ― National oil and gas giant Petroliam Nasional Bhd (Petronas) dismissed today’s reports that it is selling 49 per cent of its stake in the SK316 offshore gas block off Miri’s coast, for up to US$1 billion to raise funds…

Sarawak to spearhead revolution in business events via redefining global tribes campaign

KUALA LUMPUR: Sarawak is set to spearhead a revolution to rally all business events communities in Malaysia under the Redefining Global Tribes campaign in conjunction with the Global Meetings Industry Day 2017 celebration earlier this month.

State event promotion agency, Sarawak Convention Bureau Chief Operating Officer, Amelia Roziman, said the Redefining Global Tribes campaign was a sequel to the successful campaign for the 55th International Congress and Convention Association (ICCA) Congress 2016, which put the state on the map for second-tier destinations in conventions and conferences.

“We are calling all Business Events communities in Malaysia to unite. As one global tribe, we will construct a stronger identity for Sarawak and Malaysia, not only for business events, but also to spur the country's fiscal and social growth,” she said in a statement today.

She said the campaign was a multi-pronged revolution to further drive the impact of business events to construct a stronger and more diverse economy for Malaysia.

“Through the sector's fluidity in attracting trade, talent, and foreign investment, a business event assembles the world into one powerful global tribe. This is the vision that Sarawak intends to lead,” she said.

Amelia said to kick-start the campaign, the bureau was partnering with Borneo Tru Events, which was organising the Tribal Warrior Challenge, an obstacle-based public event to converge business events communities and 4,000 additional participants on Aug 19, 2017.

“The Tribal Warrior Challenge will see a total of three categories set within the beautiful landscapes of Borneo,” she said.

The categories are 'The Rite of Passage' (eight kilometres), 'Headhunter' (12 kilometres) and 'Bizst Mode' (five kilometres).

“Corporations and associations will be able to benefit further by utilising the Tribal Warrior Challenge as a platform for team-building, corporate events, celebrations, orientation trips, boot camps and incentive trips in Sarawak,” she said.

Registration for the challenge is open from April 28 onwards via — Bernama

Headline inflation rate to pick up

Headline inflation rate is expected to pick up to 3% in 2017, from 2.1% in 2016 mainly due to a surge in transportation costs amid higher fuel prices compared to a year ago. RHB Research Institute further said factors contributing to the rise are upward adjustment to fuel prices, removal of subsidies on selected administered goods prices and higher business costs. The research house also said the weak Ringgit has also translating into higher import prices. Headline inflation rate picked up to its quickest pace in eight years, to 5.1%Read More

KKR, INCJ plan joint bid for Toshiba’s chip unit, says Nikkei

TOKYO, April 22 — US private equity firm KKR & Co LP and Japanese government-backed fund, Innovation Network Corp of Japan (INCJ), will submit a joint offer for Toshiba Corp’s memory chip unit, the Nikkei business daily reported yesterday….

China stocks regulator fines ex-official US$36.5m for illegal trades

SHANGHAI, April 22 — China’s securities regulator has fined a former Shenzhen bourse official 251 million yuan (US$36.5 million or RM160 million) for making illegal trades to profit from company IPOs, underscoring Beijing’s drive to root out bad…

Honda Malaysia, Kah Motor opens biggest Honda 4S Centre in Malaysia, located in Tebrau

Kah Motor's newest Honda 4S Centre which is the biggest in Malaysia

Honda Malaysia and Kah Motor Co. Sdn Bhd opened the biggest Honda 4S Centre in Malaysia, located in Tebrau, Johor Bahru. The largest Honda dealer group in Malaysia, Kah Motor expanded its capacity to serve customers better with its latest Honda 4S Centre which houses Sales, Services, Spare Parts and a Body and Paint Centre under one roof. According to Honda Malaysia President and Chief Operating Officer Roslan Abdullah, in 2016, the Southern region which consists of Johor, Malacca and Negeri Sembilan contributed about 20% of Honda Malaysia’s total sales,Read More

Upward momentum of Bursa to continue next week

KUALA LUMPUR, April 22 — The upward trajectory on Bursa Malaysia will likely to continue next week as investors are set to accumulate their positions on the back of positive developments globally. Affin Hwang Investment Bank Vice-President and…

Ringgit likely to stay firm next week

KUALA LUMPUR, April 22 — The ringgit is likely to remain firm at the 4.40 level against the US dollar next week on the back a retreating greenback and improved commodity prices. Affin Hwang Investment Bank Vice-President/Head of Retail…