April, 2019

 

Berkshire Hathaway to invest US$10b in Occidental Petroleum for Anadarko takeover

NEW YORK, April 30 — American mega-investor Warren Buffett’s Berkshire Hathaway will invest US$10 billion (RM41.4 billion) in Occidental Petroleum as the company battles to acquire rival Anadarko Petroleum, Occidental announced today….


EU court backs use of trade tribunals to protect foreign investors

BRUSSELS, April 30 — The European Union won backing from the bloc’s top court today for its system to protect foreign companies, which proponents say is essential for future trade agreements but critics say unfairly favours multinationals. As…


McDonald’s gets US lift from donuts, bacon as profit dips

NEW YORK, April 30 — Despite appealing to America’s love affair with bacon and donuts, McDonald’s reported a dip in first-quarter profits today. The fast-food giant scored a solid 4.5 per cent jump in first-quarter comparable sales in its home…


Foxconn chairman travels to White House to discuss Wisconsin

TAIPEI, April 30 — The chairman of Apple supplier Foxconn will travel to the United States today for a meeting in the White House that is believed to be related to an investment in Wisconsin, according to a source with direct knowledge of the…


Wall Street opens mixed; Alphabet weighs on S&P 500, Nasdaq

NEW YORK, April 30 — US stocks opened mixed today, as investors parsed a barrage of earnings reports, while a slump in shares of Google-parent Alphabet weighed on the S&P 500 and Nasdaq. The Dow Jones Industrial Average rose 40.17 points, or…


Former Abraaj executive gets bail in New York in fraud case

NEW YORK, April 30 — A US district court has granted bail to a former managing partner of collapsed private equity firm Abraaj, Mustafa Abdel-Wadood, on condition that he sign a US$10 million (RM41.4 million) bond and remain confined to a New York…


ECB hikes banking supervision bill over Brexit moves

FRANKFURT, April 30 — The European Central Bank (ECB) today upped the supervisory fees it charges major banks this year, as its task has swelled with financial firms moving to the eurozone from London in response to Brexit. Lenders’ moves…


AWC bags RM17.1m supply contract for MRT2 project

PETALING JAYA: AWC Bhd has secured a RM17.1 million contract for the designing, manufacturing, supplying, assembling, testing and commissioning of Harsco Model RGH 10C Rail Grinding Vehicle works for the Mass Rapid Transit 2 (MRT2) project.

In a filing with Bursa Malaysia, AWC said the contract was awarded to its subsidiary Trackwork and Supplies Sdn Bhd by China Communications Construction Company (Malaysia) Sdn Bhd (CCCC).

The contract is expected to be completed by Sept 30, 2022.

“This is the first substantial single contract that the rail division has secured since the acquisition last year. We would like to thank CCCC and MRT Corp for the opportunity to be part of the MRT2 project,” said AWC group CEO and president Datuk Ahmad Kabeer.

“With this award, the group’s total contract wins amount to approximately RM135 million for the current financial year. We look forward to more opportunities in the rail sector as other mega rail projects come back onstream,” he added.


Airbnb should be free to operate across Europe, says EU court advisor

BRUSSELS, April 30 — Airbnb should be treated as a digital service provider and free to operate across the European Union, an adviser for the European Court of Justice (ECJ) said today following a complaint by a French tourism association. The…


Sterling rallies on hopes Brexit talks have progressed

LONDON, April 30 — Sterling reached a one-week high back above US$1.30 (RM5.37) today after media reports that the tone of Brexit talks between the British government and the main opposition party had improved. The pound rose to as high as…