Friday, May 18th, 2018

 

Industrials limit losses on Wall Street amid Sino-US trade talks

NEW YORK, May 18 ― The benchmark S&P 500 index fell today, weighed down by losses in shares of Alphabet and Applied Materials, although industrial stocks helped limit losses on signs of progress in Sino-US trade talks. China denied it had…


Dollar climbs to five-month peak as euro falls on Italy worries

NEW YORK, May 18 ― The dollar rose to a five-month high against a basket of major currencies today, helped by weakness in the euro as investors fretted about political uncertainty in Italy. The dollar index has gained for five straight sessions…


New govt poised to maintain growth momentum, says economist

KUALA LUMPUR, May 18 ― The new government led by Prime Minister Tun Dr Mahathir Mohamad looks totally committed in bringing about economic, financial and structural reforms to maintain the growth trajectory for the fiscal year, according to an…


Dollar and oil pause ascent, bonds and gold lick wounds

LONDON, May 18 ― World markets began to strain today after a rollercoaster week that has seen oil break US$80 (RM317) a barrel, Italian politics rattle the euro zone again and emerging markets battered by a pumped-up dollar and rising borrowing…


Socially responsible funds dump or rethink Facebook over data privacy

BOSTON, May 18 ― Several socially conscious investment firms are selling or rethinking their Facebook Inc holdings, unsatisfied by the company's moves to strengthen personal data protection and online safety after scandals involving the improper…


US stock futures edge higher with trade talks in focus

NEW YORK, May 18 ― US stock index futures rose slightly in choppy trading today as oil prices climbed, while investors kept a close watch on Sino-US trade talks. China denied it had offered to cut its trade surplus with the United States by up to…


Singapore Airlines expected to keep competitive edge despite higher oil prices

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SINGAPORE (May 18): CGS-CIMB Securities is maintaining its “add” call on Singapore Airlines (SIA) with a target price of $11.75. The airline company yesterday announced that it has reversed out of the red with 4Q18 earnings of $181.8 million, from losses of $138.3 million in 4Q17, as FY18 earnings more than doubled from a year ago to $892.9 million. 4Q17/18 revenue rose 8.2% to $4.02 billion, from $3.71 billion a year ago, on the back of stronger passenger and cargo flown revenue, partially offset by higher expenditure. Over the pastRead More


Vietnam launches in-depth probe into Grab-Uber deal in SE Asia

HANOI, May 18 ― Vietnam's Ministry of Industry and Trade said today it had launched an in-depth investigation into ride-hailing company Grab's takeover of Uber Technologies' Southeast Asia business after an initial probe found it might breach…


Minho to buy Klang land for RM19.6 mil to expand timber storage facilities

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KUALA LUMPUR (May 18): Minho (M) Bhd, which provides kiln drying services, has proposed to acquire a 5.02-acre of industrial land in Kapar, Klang for RM19.6 million, as it seeks to expand its timber storage facilities. Minho said its wholly-owned unit Victory Enterprise Sdn Bhd had signed a sales and purchase agreement with Preferred Plot Sdn Bhd to buy the said industrial land, which is adjacent to its existing factory. “It is very suitable for the expansion of timber storage facilities of Victory Enterprise, as it will save cost onRead More


IOI Properties’ results affected by lower project contribution

KUALA LUMPUR, May 18 ― IOI Properties Group Bhd recorded a 49.4 per cent higher net profit of RM170.44 million in the third quarter ended March 31, 2018, compared with a year earlier. However, the company said its pre-tax profit of RM221.7 million…