Friday, July 26th, 2019


Trump warns Google after Treasury chief says no concerns on China

WASHINGTON, July 26 — US President Donald Trump today kept up his pressure on global tech giant Google days after his Treasury secretary ruled out any national security concerns over the company’s work in China. Trump, in a tweet, did not offer…

Sterling falls as UK and EU lock horns again over Brexit

LONDON, July 26 — The British pound weakened today, weighed down by European Commission President Jean-Claude Juncker’s telling Britain’s new prime minister, Boris Johnson, that a deal agreed by his predecessor was the best and the only Brexit…

Trump: US to deny tariff relief for Apple Mac Pro parts from China

WASHINGTON, July 26 — US President Donald Trump today said his administration would not grant Apple Inc any relief for tariffs on Chinese-made parts for its Mac Pro computer. “Apple will not be given Tariff wa(i)vers, or relief, for Mac Pro…

White House advisor says US has ‘ruled out’ currency intervention

WASHINGTON, July 26 — White House economic advisor Larry Kudlow said today the United States has “ruled out” intervening in currency markets to impact the dollar’s value, though President Donald Trump’s administration is concerned other…

US economic growth slows in Q2, 2018 falls below Trump target

WASHINGTON, July 26 — The American economy hit the brakes in the second quarter, as activity declined in an increasingly skittish industrial sector and exports fell, but the US continues to outperform other advanced economies, according to…

Indonesia plans new rules to curb jump in imports of plastic waste

JAKARTA, July 26 — Indonesia plans tighter rules to combat a surge in imports of plastic waste, such as a registry of trash exporters and tougher border checks, officials said today. Data from the statistics agency showed imports of plastic waste…

Twitter beats on revenue, sees rise in daily users viewing ads

SAN FRANCISCO, July 26 — Twitter Inc posted a better-than-expected second-quarter revenue today and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content. However, the company forecast…

ECB survey shows inflation expectations slipping

FRANKFURT, July 26 — Financial experts’ forecasts of eurozone inflation in the coming years are ebbing further from the European Central Bank’s target of just below 2.0 percent, a survey published today showed. The sombre outlook for price…

FGV says exploring potential collaborations in palm, sugar industries

PETALING JAYA: FGV Holdings Bhd said it is exploring potential collaborations in the palm and sugar industries, both in the upstream and downstream sectors.

“These potential collaborations include strategic alliances,” it said in a filing with the stock exchange in response to new report that it is in talks to sell MSM Malaysia Holdings Bhd stake.

“FGV has stated in previous communications that the group is working on its transformation plan which includes reviewing all underperforming and non-performing businesses, especially the group’s legacy investments,” it added.

FGV explained that there are several initiatives that are ongoing and are at various stages of review and implementation.

“Since MSM’s Johor refinery came onstream in 2019, its total refining capacity increased to 2.2 million tonnes, enabling the company to serve both its domestic requirements and seek new opportunities in export markets.”

With that, FGV and MSM are exploring all avenues to successfully enter regional and international markets.

“Discussions are still at a preliminary stage.”

AHB plans to raise RM9.86m via private placement

PETALING JAYA: AHB Holdings Bhd proposes to raise a total of RM9.86 million from its private placement exercise.

The group told Bursa Malaysia that the size of the 10% private placement is up to 17.6 million shares and 52.81 million shares for the 30% private placement.

AHB estimates that the 10% and 30% private placement to raise RM2.46 million and RM7.39 million respectively based on the indicative price of 14 sen per share.

Proceeds from the private placement will be used for working capital (RM4.81 million), capital expenditure (RM4.13 million) and marketing expenses (RM700,000).

AHB said its working capital requirements are expected to increase due to several local contracts secured for the supply and installation of office furniture of various designs to be delivered within the next 12 months.