Monday, May 29th, 2017

 

Global stocks meander in holiday-hit trading; pound rises

NEW YORK, May 29 — Global stocks were mixed, the dollar traded sideways and the euro slipped amid thin trading as investors weighed the latest comments from a Fed official on the path of US borrowing costs and Mario Draghi’s dovish message to…


US companies no longer know rules of game under Trump, Hasbro director says

CASCAIS (Portugal), May 29 — Confusion surrounding the trade policies of US President Donald Trump’s administration means US companies no longer know the rules of the game, a board member and former CEO of toymaker Hasbro told an international…


With flights back in the skies, BA must now repair damaged reputation

LONDON, May 29 — British Airways must turn its attention to repairing its brand after a weekend of chaos and criticism caused by a major IT outage that grounded flights from London’s two main airports. Thousands were left stranded when an IT…


VietJet seeks first overseas listing by Vietnamese company

HANOI, May 29 — VietJet Aviation Joint Stock Co is in talks to become the first company in Vietnam to list its shares on a stock exchange overseas as the carrier, which controls more than 40 per cent of the domestic airline market, seeks more…


MRCB’s pre-tax profit rises to RM29.26m in Q1 2017

KUALA LUMPUR, May 29 — Malaysian Resources Corporation Bhd’s (MRCB) pre-tax profit rose to RM29.26 million for the first quarter ended March 31, 2017 (Q117) from the RM18.65 million recorded in the same period last year.    Revenue also…


Sunway records lower pre-tax profit in Q1

KUALA LUMPUR, May 29 — Sunway Bhd’s pre-tax profit fell to RM153.12 million in the first quarter ended March 31, 2017 from RM176.08 million in the same period last year on the back of lower contribution from several business segments. The…


Genting Bhd’s 2017 Q1 pre-tax profit rises to RM1.46b

KUALA LUMPUR, May 29 — Genting Bhd’s pre-tax profit for the first quarter (Q12017) ended March 31, 2017 rose to RM1.46 billion from RM542.73 million registered in the same period a year ago. The increase was due mainly to higher earnings…


India cattle trade ban to halt beef exports, lead to job losses

NEW DELHI, May 29 — India’s ban on the trade of cattle for slaughter threatens US$4 billion (RM17.1 billion) in annual beef exports and millions of jobs if the government does not revoke the stoppage decreed last week, according to two…


Bain: World luxury goods sales growth seen up 2-4pc in 2017

PARIS, May 29 — Global sales of personal luxury goods will grow by a stronger- than-expected 2-4 per cent at constant exchange rates in 2017, as higher spending in Europe and China outpace weakness in the United States and southeast Asia, a…


Ringgit closes lower against greenback on lack of demand

KUALA LUMPUR, May 29 — The ringgit closed lower against the US dollar today on lack of demand for the local currency on the back of negative sentiment following declining oil prices, a dealer said. At 6pm, the local unit was quoted at…