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Money
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Bursa Malaysia strengthens at close amid Covid-19 slowdown
KUALA LUMPUR, April 7 — Bursa Malaysia, along with its Asian peers, ended higher on Tuesday amid optimism that the Covid-19 death toll and new cases are slowing down in several...
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Last but not least: Exxon chops spending by 30pc
HOUSTON, April 7 — Exxon Mobil Corp today throttled back a multi-year investment spree in shale, LNG and deep water oil production and will cut planned capital spending by 30...
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EU to agree virus bail-out but not ‘coronabonds’
BRUSSELS, April 7 — EU finance ministers hope to agree a coronavirus economic rescue package for the worst-hit member states today, but will fall short of demands from...
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Asia markets extend gains on glimmers of hope in virus fight
HONG KONG, April 7 — Equities rallied again today as investors seized on signs of a slowdown in the spread of the coronavirus in key hotspots and some governments began making...
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Norway’s unemployment rises to record 15.4pc of work force
OSLO, April 7 — Norway’s rate of unemployment rose to 15.4 per cent today, the Labour and Welfare Agency (NAV) said, the highest level on record, up from 14.7 per cent on...
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Petronas counters rise on new oil discovery in US Gulf of Mexico
KUALA LUMPUR, April 7 — Petronas-linked counters were among the contributors that lifted the FBM KLCI today following an announcement of an oil discovery in the Monument...
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Bank Negara’s international reserves at US$101.7b as at March 31, 2020
KUALA LUMPUR, April 7 — Bank Negara Malaysia’s (BNM) international reserves amounted to US$101.7 billion (US$1 = RM4.34) as at March 31, 2020. “The reserves position is...
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CIMB Bank, CIMB Islamic waive fees for Tabung Haji transactions via ATMs, CDMs
KUALA LUMPUR, April 7 — CIMB Bank Bhd and CIMB Islamic Bank Bhd are temporarily waiving the RM1 fee for transactions made to Lembaga Tabung Haji (TH) accounts via their...
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China stocks end higher on stimulus, drop in new coronavirus cases
SHANGHAI, April 7 — China stocks ended up more than two per cent today as markets resumed trading after a long weekend, with investor sentiment lifted by the government’s...
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Micro, small entrepreneurs urged to go online during MCO
KUALA LUMPUR, April 7 — The Malaysia Digital Economy Corporation (MDEC) has urged micro and small entrepreneurs in Malaysia to continue to promote their products and services...
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Australia's cenbank warns of 'very large' GDP slump, keeps record low rates
SYDNEY, April 7 — Australia's central bank kept rates at record lows today and pledged to keep three-year government bond yields at its 0.25 per cent target as it predicted the...
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KL shares stay positive on easing of Covid-19 cases
KUALA LUMPUR, April 7 — Shares on Bursa Malaysia remained higher at mid-day on the reported easing of Covid-19 cases and fatalities in some parts of the world, giving hopes of a...
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The greenback is still king, even as coronavirus slams US
NEW YORK, April 7 — The coronavirus outbreak in the United States has caused millions of people to lose their jobs and brought the economy to its knees but it has not dethroned...
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Oil prices rebound on hopes for output cut deal
SINGAPORE, April 7 — Oil prices rebounded today on fresh hopes an Opec-led meeting this week will reach an agreement to reduce oversupply and shore up the market. Prices have...
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Plus solar achieves RM150m revenue for FY20
KUALA LUMPUR, April 7 — Plus Solar, the nation’s renewable energy solution provider, has achieved RM150 million in revenue for the financial year (FY) ending March 2020, which...
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Asian shares cautiously gain on virus hopes, US dollar slips
SINGAPORE, April 7 — Asian stock markets rallied for a second day today, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in...
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Bursa lifted by govt stimlus package at opening
KUALA LUMPUR, April 7 — Bursa Malaysia opened higher today as the market rejoiced over the government's RM10 billion special stimulus package targeted at the small and...
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Ringgit higher in early trade against US dollar
KUALA LUMPUR, April 7 — The ringgit traded higher against the US dollar today as an overnight risk-on mode in the developed market lifted positive sentiment to the currency...
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British pound on back foot as PM Johnson enters intensive care
TOKYO, April 7 — The British pound edged lower against the US dollar and the euro today after UK Prime Minister Boris Johnson was moved to intensive care after his coronavirus...
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Trump announces 3M deal for millions of masks
WASHINGTON, April 7 — President Donald Trump yesterday announced a deal with US manufacturing giant 3M to provide millions of facemasks to combat the coronavirus pandemic after...
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Argentina's worst economic crisis since 2001
BUENOS AIRES, April 7 — Argentina, which yesterday deferred payments of up to US$9.8 billion (RM42.67 billion) of its debt to 2021, has been battling a deep economic crisis...
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Italy announces guarantees for bank loans worth over €400b
ROME, April 7 — Italy's government approved yesterday a new emergency decree that will offer more than €400 billion (RM1.88 trillion) worth of liquidity and bank loans to...
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Boeing suspending 787 production at South Carolina plant
WASHINGTON, April 7 — Boeing Co said yesterday it would suspend production of its 787 airplane at its facilities in South Carolina amid the coronavirus pandemic. The...
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Air France-KLM has €6b cash, will need state support soon, reports newspaper
PARIS, April 7 — Air France-KLM SA has €6 billion (RM28.2 billion) in cash at hand, Anne Rigail, chief executive of Air France told French newspaper Le Figaro, adding that...
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Rush for masks, toilet paper slows Japan's household spending decline
TOKYO, April 7 — Japan's consumer spending fell in February but at a slower-than-expected pace as households scrambled for protective masks, toilet paper and staple food amid...
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Trump says Opec has not asked him for a US oil production cut
WASHINGTON, April 7 — President Donald Trump said yesterday that Opec had not pressed him to ask US oil producers to reduce their output to support global prices, which have...
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Panic buying, trade curbs cause shortages of coronavirus drugs in EU
BRUSSELS, April 7 — Hospitals in the European Union are facing shortages of critical drugs to treat Covid-19 patients because of trade restrictions and excessive stockpiling by...
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Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar
NEW YORK, April 7 — Oil prices slumped yesterday, pulling back from last week's gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing...
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Opec+ likely to agree to cut production if US joins effort, say sources
DUBAI, April 7 — Major oil producers including Saudi Arabia and Russia are likely to agree to cut production at a Thursday meeting but only if the United States joins the...
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Wall St soars on hopes of slowing coronavirus deaths
NEW YORK, April 7 — US stocks rocketed higher yesterday, with each of the major indexes rallying at least 7 per cent, after a fall in the daily death toll in New York, the...
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Wall Street opens higher on global recovery signs
NEW YORK, April 6 —Wall Street opened higher today as traders took heart from news of falling coronavirus death rates in hard-hit countries even as US cases were poised to...
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Women and low-paid among worst hit by UK coronavirus job cuts
LONDON, April 6 —Low-paid workers, young people and women are most likely to have lost work in Britain due to the economic turmoil caused by the coronavirus lockdown,...
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Mexican president floats ‘Marshall Plan’ to help emerging markets
MEXICO CITY, April 6 — Mexican President Andres Manuel Lopez Obrador said today he would like to see some sort of “Marshall Plan” adopted to help emerging markets cope with...