Qualcomm begins cutting jobs to meet pledge to slash costs

SAN DIEGO, April 19 — Qualcomm Inc has begun cutting about 1,500 jobs in California as part of a broader workforce reduction aimed at meeting a commitment to investors to pare costs by $1 billion, according to people familiar with the process….

Oil jumps 3pc on Saudi price target, US stockpiles

NEW YORK, April 19 — Oil futures jumped nearly 3 per cent yesterday on a decline in U.S. crude inventories and after sources signalled top exporter Saudi Arabia wants to see the crude price closer to US$100 (RM389) a barrel. Opec’s new price…

Maybank preparing to spin off insurance unit, sources say

KUALA LUMPUR, April 18 — Malayan Banking Bhd (Maybank), Malaysia’s biggest bank, is preparing to spin off and list its Etiqa insurance arm on the local stock exchange, sources with knowledge of the matter said today. Etiqa, which operates in…

T7 Global clinches three contracts worth RM63m

PETALING JAYA: T7 Global Bhd has bagged three contracts with a total value of RM63 million.

The offshore oilfield services provider told Bursa Malaysia that its subsidiary Wenmax Sdn Bhd had on January 15 received a letter of award from Murphy Sarawak Oil Co Ltd for the provision of maintenance services, spare parts and consumables for Gastec nitrogen generator for Murphy production operations.

This contract is from January 15, 2018 until the completion of the contract which is expected to be ended on January 14, 2021, with an option to extend for an additional one year.

The second contract was awarded by Marine Crest Technology Sdn Bhd to T7 Global's wholly owned subsidiary T7 Marine Sdn Bhd for the upgrade of combat management system for Royal Malaysian Navy's vessel, which is expected to be completed in August 2019.

T7 Global's wholly owned subsidiary Tanjung Offshore Services Sdn Bhd also received a letter of award from CP Energy & Services Sdn Bhd for the supply of equipment and upgrading works.

The duration for the contract is from April 17, 2018 until the completion of the contract which is expected to be ended on October 16, 2018.

At the noon break, T7 Global shares gained 2.5 sen or 5.2% to 51 sen on some 10.04 million shares done.

Oil and gas sector to recover, says RHB

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SMRT’s Kuek to step down; ex-Singapore defence force chief takes over from Aug 1

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Malaysia’s March inflation rate at 1.3pc, slowest in 20 months

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Tesla aims to produce 6,000 Models 3s per week by June end, says Electrek

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India calms cash crunch worries, will ensure adequate currency supply

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Netflix surges to record as users shrug off higher prices

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