Saturday, March 2nd, 2019


Wall Street rises as trade optimism counters weak data

NEW YORK, March 2 ― The S&P 500 and the Dow Jones Industrial Average snapped a three-day run of losses on Friday as optimism about the prospects for a US-China trade agreement countered downbeat US and China manufacturing data. The Nasdaq…

TH to develop new asset allocation strategy, says CEO

KUALA LUMPUR: After a successful turnaround and restructuring programme of its underperforming assets, Lembaga Tabung Haji is now planning to develop a new asset allocation strategy, said group managing director/chief executive officer Datuk Seri Zukri Samat. He said the pilgrim fund plans to reallocate its asset mix, especially assets that are heavily exposed to risks, […]

Lynas auditor flags ‘material’ risk due to M’sia waste export

MELBOURNE: Auditors to rare earths producer Lynas Corp flagged a material risk to its business on Thursday, after Lynas said it could not meet a timeline from Malaysian regulators to export a waste product before its operating license comes up in September. In December, Malaysia’s Atomic Energy Licensing Board (AELB) told Lynas – the world’s […]

Palm oil players to deliberate on industry’s pressing issues

KUALA LUMPUR: The 30th Palm and Lauric Oils Price Outlook Conference and Exhibition (POC 2019) , to be hosted by Bursa Malaysia this month, will gather industry players to deliberate on the most pressing issues confronting it and the response. Themed, “Managed Uncertainties, Harvest Global Opportunities”, the two-day event from March 5 will feature a […]

UK car output slumps on China slowdown, Brexit — Data

LONDON: The number of cars built in Britain tumbled almost a fifth in January, industry data showed Thursday, rocked by China’s slowdown and the threat of a no-deal Brexit. In a gloomy plot twist, James Bond’s favourite carmaker Aston Martin revealed plans to set aside up to £30 million (US$40 million, 35 million euros) to […]

Another nod for China stocks as MSCI ups weighting

SHANGHAI: Index compiler MSCI said it would increase the weighting of Chinese-listed stocks in its benchmark indices and nearly double the number of companies included, a move expected to boost global acceptance of China’s often volatile equities markets. The US-based MSCI, which last year added 236 China-listed large-cap stocks to its Emerging Markets Index for […]

Exxon’s Cyprus gas discovery adds on to East Med region

ATHENS/LONDON: ExxonMobil added another giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus but infrastructure bottlenecks and geopolitical disputes mean output from the field could be far off. Exxon, together with partner Qatar Petroleum (QP), estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet […]

UOB, OctoRocket sign MOU to help finance Asean businesses

KUCHING: United Overseas Bank (UOB) and (OctoRocket), a business to business e-commerce platform, signed a Memorandum of Understanding (MOU) to enable small businesses in Asean on OctoRocket to apply for financing quickly and easily. OctoRocket, a joint venture launched in January by Singapore Press Holdings (SPH) and Y3 Technologies, enables cross-border trade between suppliers […]

Banks’ sterling performance boosts confidence

KUALA LUMPUR: The sterling performance of Malaysia’s commercial banks and financial institutions in 2018, with some hitting record profits, is a shot in the arm to boost confidence in corporate earnings growth as the sector plays an important role in the financial system and the economy. “The results are a relief for investors and at […]