Friday, January 11th, 2019

 

Rise of renewables creating ‘new world’, says report

ABU DHABI, Jan 11 — The rapid growth of renewable energy sources and the demise of fossil fuels are causing major changes in global politics, a special commission said in a report today. The shift “will alter the global distribution of power,…


Ghosn case: New documents show payments to Renault exec

TOKYO, Jan 11 — An executive at French automaker Renault who was close to Carlos Ghosn received payments totalling nearly €500,000 on top of her salary over several years, according to documents obtained by AFP. In a statement responding to…


GM sees higher 2019 profits on job cuts, solid US, China sales

NEW YORK, Jan 11 — General Motors projected strong 2019 profits today, fuelled by savings from a deep restructuring including job cuts, and by solid sales in the United States and China. GM, which has faced criticism from President Donald Trump…


US stocks open lower but GM surges on good outlook

NEW YORK,Jan 11 — Wall Street stocks declined in early trading today following tepid US inflation data, while General Motors surged on a strong profit forecast. About 10 minutes into trading, the Dow Jones Industrial Average stood at 23,875.88,…


US consumer prices post first drop in nine months on gasoline

WASHINGTON, Jan 11 — US consumer prices fell for the first time in nine months in December amid a plunge in gasoline prices, but underlying inflation pressures remained firm as rental housing and healthcare costs rose steadily. Overall, the report…


SESB probes RM64.33m advances made to holding company

KUALA LUMPUR, Jan 11 (Bernama) – Scomi Energy Services Bhd’s (SESB) board of directors has launched an investigation on advances totalling RM64.33 million made to its holding company, Scomi Group Bhd and its subsidiaries. In a…


Embraer shares take off after Bolsonaro approves Boeing merger

SAO PAULO, Jan 11 — The share price in Brazilian airplane manufacturer Embraer soared today as markets reacted favourably to the country’s President Jair Bolsonaro approving a merger with us giant Boeing. The share price jumped 7.43 per cent on…


Infosys share buyback as profits slide

MUMBAI, Jan 11 — India’s second-largest software exporter Infosys reported today a 30 per cent fall in quarterly profits amid seasonal weakness in the IT sector and mounting expenses. The Bangalore-headquartered company also announced board…


Volkswagen sets sales record in 2018 despite headwinds

FRANKFURT AM MAIN, Jan 11 — German car giant Volkswagen said today it sold a record number of vehicles in 2018 even as it felt the sting from US-China trade tensions and problems with European emissions tests in the final months of the year. Some…


PUC to collaborate with Chiyo Asset Management

PETALING JAYA: PUC Bhd is collaborating with Chiyo Asset Management K.K. to secure institutional capital to fund the business activities and investments of PUC’s financial services arm.

In a filing with Bursa Malaysia, PUC said its wholly owned subsidiary Wealth Pursuit Sdn Bhd has entered into a memorandum of understanding (MoU) with Chiyo to cooperate, collaborate and work together to procure, arrange and provide institutional capital for Wealth Pursuit.

Chiyo will also provide necessary support and advice to Wealth Pursuit, who has partnered with Yayasan Pekerja Malaysia (Yapem) to provide micro financing to Yapem members.

The programme will see Yapem facilitating all operations to implement the deduction of salary programme for loan repayment of such micro finance.

The MoU is for a period of 12 months or until the execution of a definitive collaboration agreement, whichever comes first.