Sustaining the future for palm oil

As a plant turned edible oil to meet the needs of consumers, palm oil today joins the ranks of commodities dividing nations worldwide for its enviromental and political implications. An undeniable fact is palm oil’s contribution to Malaysia’s economy. Having roots in our history since 1917, exports of palm oil and palm-oil based products continue […]

S&P 500 posts highest close since Nov 8 on trade optimism

NEW YORK, Feb 23 ― The S&P 500 posted its highest closing level since November 8 yesterday as investors clung to signs of progress in the ongoing trade talks between the United States and China. Investors assessed a slew of headlines on the…

US-China trade hopes lift stocks, oil hits three-month high

NEW YORK, Feb 23 ― Stocks rose in major markets across the world yesterday on bets of progress in trade talks between China and the United States, while crude futures hit their highest level in more than three months supported by ongoing supply…

US and China haggle over toughest issues in trade war talks

WASHINGTON: Top US and Chinese trade negotiators haggled on Thursday over the details of a set of agreements aimed at ending their trade war, just one week before a Washington-imposed deadline for a deal expires and triggers higher US tariffs. Reuters reported exclusively on Wednesday that the two sides are starting to sketch out an […]

Trump to meet Chinese trade negotiator amid effort to defuse conflict

WASHINGTON, Feb 22 — President Donald Trump is due to meet this afternoon with China’s top trade negotiator, as talks continue to try to defuse the escalation of the tariff war between the world’s economic superpowers. The fourth round of…

Germany under fire for Saudi arms export ban

BERLIN, Feb 22 — Export power Germany has long had a troubled relationship with selling arms abroad, a legacy of its dark history that is now spelling deep discord with its European allies. Chancellor Angela Merkel’s government has recently…

US, China haggle over toughest issues in trade war talks

WASHINGTON, Feb 22 — Top US and Chinese trade negotiators haggled yesterday over the details of a set of agreements aimed at ending their trade war, just one week before a Washington-imposed deadline for a deal expires and triggers higher US…

Maersk shares reel as trade war fears buffet outlook

COPENHAGEN, Feb 21 — Shares in the world’s leading container shipping group, AP Moeller-Maersk, plummeted today after the Danish firm made a weaker than expected profit forecast citing uncertainty over the US-China trade war. The company’s…

BAT earnings jump on lower operating expenses

PETALING JAYA: British American Tobacco (Malaysia) Bhd’s (BAT) earnings in the fourth quarter ended Dec 31, 2018 (Q4FY18) jumped 43.59% to RM116.37 million from RM81.04 million in the previous corresponding quarter, thanks to lower operating expenses.

The decline in operating expenses was due to the group’s continous effort in undertaking cost efficiencies whilst investing in strategic opportunities and segments.

BAT’s revenue for the quarter increased 12.52% to RM770.62 million compared with RM684.86 million in the same period a year ago, after cigarette prices increased by 40 sen per pack in November 2018.

It has proposed to declare an interim dividend of 47 sen per share.

For the full year of 2018, the group’s net profit declined 4.9% to RM468.53 million from RM492.64 million a year ago, while revenue went down 3.2% to RM2.82 billion, from RM2.92 billion previously.

On its prospects, BAT said it remains concerned with legal volumes continuing to be impacted by the current high incidence of illegal cigarette trade.

However, it said the group is very encouraged by the heightened enforcement with hopes that it will be intensified in the coming months.

The outlook for 2019 will be very much dependent on the recovery of the legal market, it added.

Anglo American profits rise on metals output, price rises

LONDON, Feb 21 — Mining giant Anglo American today posted a 12-per cent rise in annual net profits thanks to higher production and the rising price of metals. Profit after tax increased to US$3.5 billion (RM14.3 billion) in 2018 from a year…