Saturday, September 1st, 2018

 

Australia-Indonesia leaders meet in Jakarta to seal deal

SYDNEY: Australia’s prime minister called for greater investment and engagement with Indonesia yesterday, ahead of talks with his Indonesian counterpart on a free trade deal that could be signed later this year. The Asian neighbours have been in prolonged trade talks since 2010, with diplomatic tensions between the two sides occasionally stalling the negotiations. “The […]


Surge in 2Q profit masks underlying challenges for AirAsia

AirAsia Group reported a surge in second-quarter net profit on the back of a tax benefit, but operating profit fell sharply as fuel and maintenance costs increased. The Malaysian budget carrier said on Thursday that net profit for April-June rose by 147 per cent to RM361.8 million (US$88 million). However, that was mainly thanks to […]


Malaysia Airlines records stable 2Q performance

KUALA LUMPUR: Malaysia Airlines Bhd (Malaysia Airlines) managed to record steady year-on-year (y-o-y) performance in the second quarter of 2018, with a marginal yield improvement of 0.3 per cent. In the face of increased competitor capacity, coupled with weak demand conditions due to Ramadan, revenue per available seat kilometre (RASK) also remained steady with a […]


Trump says EU bid to end auto tariffs ‘not good enough’

WASHINGTON: President Donald Trump reportedly rejected as “not good enough” a European Union (EU) proposal scrapping tariffs on automobiles, a move which threatens to amplify a simmering trans-Atlantic trade dispute. Earlier, the European Union (EU) Trade Commissioner Cecilia Malmstroem had said the bloc was “willing to bring down… our car tariffs to zero” provided that […]


Japan stocks to rise in 2018 underpinned by corporate profits

TOKYO: Japanese stocks are forecast to rise five per cent over the rest of this year, with stronger corporate profits expected to underpin sentiment, but selling by foreign investors could cap the upside, a Reuters poll found. In recent weeks, Sino-US trade frictions and a selloff in emerging market currencies have heightened risk aversion, pushing […]


Shanghai crude futures eat into Western benchmarks

SINGAPORE: The launch of China’s first crude futures contract in Shanghai has added a long-awaited Asian benchmark to the global oil sector, challenging the dominance of Western price-markers and threatening ramifications far beyond the energy industry. Since their launch in March 2018, Shanghai crude futures have stolen market share from the incumbent benchmarks – Europe’s […]


Coca-Cola expands into coffee with US$5.1 bln deal for Britain’s Costa

COCA-COLA Co has agreed to buy the world’s second largest coffee chain Costa from Britain’s Whitbread Plc for an enterprise value of 3.9 billion pounds (US$5.1 billion), opening a new front in its push away from traditional sodas. Whitbread said in a statement yesterday that the deal, which will give Coke almost 4,000 coffee outlets […]


Analysts anticipate Dayang to secure more more contracts by year end

KUCHING: Analysts expect Dayang Enterprise Holdings Bhd (Dayang) to nab another one or two more contracts before the year end, having secured its fourth contract win for the year. In a report, Kenanga Investment Bank Bhd’s research arm (Kenanga research) saw that the newest contract win by Dayang is a provision of Pan Malaysia maintenance, […]


GrabPay continues to grow services in East Malaysia

KUCHING: As the ewallet stemming from a successful ride-sharing enterprise, GrabPay Malaysia continues to expand and enhance every one of its services nationwide, including GrabPay in East Malaysia. “When we first launched, we started with more than 500 merchants across the eight cities – Penang, Ipoh, Klang Valley, Johor Bahru, Kuantan, Kota Kinabalu and Kuching […]