MUMBAI, Feb 19 — The Punjab National Bank branch in south Mumbai sits just down the road from both the Bombay Stock Exchange and the Reserve Bank of India, at a physical centre of one of the world’s fastest growing major economies. The…
LONDON, Feb 19 — World stocks were set for a sixth session of gains today, extending a recovery from a selloff sparked by fears of creeping inflation and higher borrowing costs. Gains were marginal however, and scored largely in Asian markets,…
SINGAPORE, Feb 19 — The Goods and Services Tax (GST) will be raised by 2 percentage points to 9 per cent sometime between 2021 and 2025, said Finance Minister Heng Swee Keat today. The exact timing of the hike – which has been widely…
KUALA LUMPUR (Feb 19): Gas Malaysia Bhd shares rose 4.44% this morning after its fourth quarter net profit rose 49.22% to RM76.98 million, from RM51.59 million a year earlier, on higher volume of gas sold, partly offset by higher operating expenses. At 9.22am, Gas Malaysia rose 12 sen to RM2.82 with 143,600 shares done. Earnings per share rose to six sen for the fourth quarter ended Dec 31, 2017 (4QFY17), from 4.02 sen previously, the group said in a filing with Bursa Malaysia on Feb 15. Quarterly revenue grew 40.1%Read More
TOKYO (Feb 19): Oil prices extended gains on Monday, but the increases were limited as the dollar recaptured some ground after touching its lowest level in more than three years on Friday. U.S. West Texas Intermediate crude for March delivery was up 5 cents, or 0.1 percent, at $61.73 a barrel by 2348 GMT, after rising 4.2 percent last week. London Brent crude was up 15 cents, or 0.2 percent, at $64.99 after rising more than 3 percent last week. The U.S. oil rig count, an indicator of future production,Read More
TOKYO, Feb 19 — Oil prices extended gains today, but the increases were limited as the dollar recaptured some ground after touching its lowest level in more than three years on Friday. US West Texas Intermediate crude for March delivery was up…
KUALA LUMPUR: Microsoft announced that the Surface Book 2 will be available for pre-order in Malaysia at local Surface authorised retailers. With the latest 8th Generation Intel Core processors and NVIDIA GeForce GTX 1050 and 1060 discrete graphics options, the new Surface Book 2 is up to five times more powerful than its predecessor. Yet, […]
WILMINGTON: Takata Corp’s US unit received court approval for its bankruptcy exit plan, a plaintiffs’ law firm said on Saturday, clearing the way for a US$1.6 billion (RM6.22 billion) sale of Takata assets and providing compensation for those injured by the company’s deadly air bags.
Takata and its US unit, TK Holdings Inc, filed for bankruptcy last year in the wake of the largest automotive recall in history. The company’s air bags can inflate with too much force and spray metal fragments, and have been linked to hundreds of injuries and at least 22 deaths.
“We are pleased that Judge (Brendan) Shannon has approved what we believe to be fair options for current and future victims of Takata airbags that provide swift resolution and allow victims to try to move on with their lives, said a statement from the Motley Rice law firm.
The law firm represented more than two dozen injured drivers in the US bankruptcy case.
The US unit’s reorganisation plan will include funds provided by automakers to help compensate those injured by the air bags.
On Friday, a lawyer for Takata’s US unit told the bankruptcy court in Wilmington, Delaware, that the US government will complete its review of the planned sale of Takata’s non-air bag businesses by March 26.
The non-air bag inflator businesses are being sold to Key Safety Systems, a unit of China’s Ningo Joyson Electric Corp. – Reuters