Friday, May 24th, 2019

 

OECD chief: World faces ‘clear and present danger’ from trade war escalation

LONDON, May 24 — It was a stark warning about the risks ahead for the global economy, even by the forthright standards of the boss of the Organisation for Economic Co-operation and Development. “The world economy is in a dangerous place,”…


Environment activists block entrance to Norwegian central bank

OSLO, May 24 — Protesters from the environmental group Extinction Rebellion blocked access to Norway’s central bank today, demanding that its US$1 trillion (RM4.1 trillion) wealth fund, the world’s largest, stop investing in companies that…


Goldman bumps up no-deal Brexit odds after May resignation

LONDON, May 24— Goldman Sachs raised its probability of a no-deal Brexit to 15 per cent from 10 per cent today as Prime Minister Theresa May’s resignation potentially opened the way for a more hardline politician to lead the UK to exiting the…


Wall Street gains as trade tensions ease

NEW YORK, May 24 — US stocks posted broad-based gains today, ahead of a long weekend, as sentiment was buoyed by optimistic comments by President Donald Trump that the protracted trade war with China could soon end. Trump said yesterday that…


Pound up 0.4pc after PM May resigns but gains seen short-lived

LONDON, May 24 — The pound was up 0.4 per cent against the euro today after 14 days of losses as Prime Minister Theresa May set out a departure date after two years of trying to push through a Brexit divorce deal. Trading was volatile as concerns…


Xi says China, Brazil should see each other as an opportunity

BEIJING, May 24 — China and Brazil should see each other as an opportunity for development and as partners, Chinese President Xi Jinping told visiting Brazilian Vice President Hamilton Mourao today. In comparison with President Jair Bolsonaro, who…


US dollar slips from two-year highs as US rate cut bets grow

LONDON, May 24 — The dollar edged away from two-year highs today after weak US manufacturing activity data sparked worries that the trade conflict with China may hurt the world’s largest economy and affect the currency’s safe-haven status….


MISC’s Q1 profit surges on higher freight rates, one-off gains

KUALA LUMPUR, May 24 — Energy shipping firm MISC Bhd’s first-quarter (Q1) net profit jumped by 64.4 per cent year-on-year to RM510.50 million, buoyed by improved freight rates as well as gains of RM41.2 million from a business acquisition and a…


May’s widely expected resignation barely moves UK stocks but Brexit risk lurks

LONDON, May 24 — Britain’s FTSE 100 held its gains today after Prime Minister Theresa May announced her resignation date in a widely expected move which nevertheless raises the prospect of a successor likely to seek a more hardline Brexit…


Taliworks concludes negotiations with Air Selangor

PETALING JAYA: Taliworks Corp Bhd has concluded its negotiations with Pengurusan Air Selangor Sdn Bhd (Air Selangor) pertaining to the operations and maintenance of the Sungai Selangor Water Treatment Plant Works Phase 1 (SSP1), following the long drawn Selangor water restructuring saga.

The group told Bursa Malaysia that its wholly owned subsidiary Sungai Harmoni Sdn Bhd had entered into several agreements in relation to SSP1.

Sungai Harmoni executed termination and settlement agreement with Air Selangor and Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) for the settlement of Sungai Harmoni’s outstanding receivables arising from its existing operations and maintenance of SSP1.

Under the agreement, Splash will pay 90% of the sum due and payable to Sungai Harmoni based on the existing operations and maintenance agreement amounting to RM618.32 million as at September 30, 2018.

Sungai Harmoni also signed bulk water supply agreement for the continued operations and maintenance of SSP1 and the supply of treated water between Sungai Harmoni and Air Selangor with the agreement period extended for another seven years.

Meanwhile, Sungai Harmoni inked an agreement with Air Selangor in respect of the licenses for abstraction of water issued by Lembaga Urus Air Selangor.