Monday, April 24th, 2017

 

Ivanka watch: Who’s selling the First Daughter’s fashion line?

NEW YORK, April 24 — Before her father became president, Ivanka Trump built a successful fashion label selling clothing, shoes, and handbags in hundreds of department stores and boutiques across the country. But this winter, following an…


Wall Street surges, Nasdaq hits record on French vote result (VIDEO)

NEW YOR, April 24 — The Nasdaq hit a record high today, with other indexes also rallying, as investors breathed a sigh of relief after Centrist candidate and market favourite Emmanuel Macron won the first round of the French election. Polls…


French election relief sends Europe soaring (VIDEO)

LONDON, April 24 — Euro zone stocks headed for their best day in almost two years today and the euro briefly vaulted to five-month peaks, after the market’s favoured candidate won the first round of the French election, reducing the risk of…


Affin posts 43pc increase in profit before tax and zakat

KUALA LUMPUR, April 24 — Affin Holdings Bhd (AHB) posted an increase of 43.4 per cent in profit before tax after zakat (PBT) to RM737.7 million for the financial year ended 31 Dec 2016. The improved performance was primarily due to lower…


Oil price climbs after five-day drop as markets rally and Opec cuts

LONDON, April 24 — Oil rose for the first time in six days as an Opec-led committee was said to back prolonging supply cuts and as other markets rallied after the first round of French presidential elections. Futures climbed as much as 1.2 per…


PNB chief says financial industry needs to restore culture of trust

KUALA LUMPUR, April 24 — Restoring a culture of trust based on strong ethical standards is vital to securing a bright future for a purposeful financial industry, says Permodalan Nasional Bhd Group Chairman Tan Sri Abdul Wahid Omar. He said…


1MDB to pay RM5.32 billion to Abu Dhabi’s IPIC

PETALING JAYA: 1Malaysia Development Bhd (1MDB) has confirmed that it will “make certain payments” to Abu Dhabi's International Petroleum Investment Company (IPIC) under its settlement agreement with IPIC.

While 1MDB did not disclose the payment sum in its statement released today, IPIC's filing with the London stock exchange revealed that it will receive a total of US$1.21 billion (RM5.32 billion) from 1MDB by the end of the year.

“Under the terms of the settlement, IPIC will receive an amount of US$602.73 million by July 31, 2017 and a further amount of US$602.73 million by December 31, 2017,” said IPIC.

The agreement was reached between IPIC, Aabar Investments PJS, the Minister of Finance (Incorporated) Malaysia and 1MDB in respect to the arbitration proceedings at the London Court of International Arbitration.


1MDB, IPIC settle debt dispute

KUALA LUMPUR, April 24 — 1Malaysia Development Bhd (1MDB) confirmed today that it has reached a deal with Abu Dhabi’s International Petroleum Investment Company to settle a debt dispute worth RM5.8 billion. The state investment fund said in…


European stocks surge at open on French vote result

LONDON, April 24 — European stocks soared at the open today as investors welcomed news that pro-European centrist Emmanuel Macron won the largest number of votes in the first round of France’s presidential election. The Paris CAC 40 index…


LafargeHolcim CEO to step down over Syria probe

PARIS, April 24 — French-Swiss cement maker LafargeHolcim said today its chief executive Eric Olsen is stepping down following an internal investigation into the company’s activities in Syria. His resignation, which has been accepted by the…