Money

  • US Treasury names small businesses that took pandemic aid, says 51.1m jobs supported

    18 hours ago

    US Treasury names small businesses that took pandemic aid, says 51.1m jobs supported

    WASHINGTON, July 6 — The Trump administration today released the names of hundreds of thousands of businesses which took money from a high-profile US$660 billion (RM2.8...

  • Report: Britain set to axe Huawei 5G involvement

    18 hours ago

    Report: Britain set to axe Huawei 5G involvement

    LONDON, July 6 — China’s ambassador to Britain today warned that London faced a risk to its international reputation if it blocked Huawei from the nation’s 5G network. The...

  • AirAsia posts RM803.85m loss in Q1 despite Ebitda breakeven

    22 hours ago

    AirAsia posts RM803.85m loss in Q1 despite Ebitda breakeven

    KUALA LUMPUR, July 6 — AirAsia Group Bhd recorded a net loss of RM803.85 million for the first quarter ended March 31, 2020, compared with a net profit of RM96.09 million in the...

  • Indonesia’s Lion Air slashes 2,600 jobs as virus bites

    19 hours ago

    Indonesia’s Lion Air slashes 2,600 jobs as virus bites

    JAKARTA, July 6 — Indonesia’s Lion Air Group is slashing 2,600 jobs as the coronavirus pandemic hammers Sout-east Asia’s biggest carrier, a company spokesman said today. The...

  • US stocks open stronger, continuing rally

    19 hours ago

    US stocks open stronger, continuing rally

    NEW YORK, July 6 — Wall Street opened higher after the long holiday weekend today, extending last week’s rally that was fuelled by positive economic signs despite the...

  • Uber buys delivery startup Postmates for US$2.65b

    20 hours ago

    Uber buys delivery startup Postmates for US$2.65b

    WASHINGTON, July 6 — Uber said today it was buying delivery startup Postmates for US$2.65 billion (RM11.4 billion) in stock, in a move shaking up the sector which has seen...

  • Survey: US services sector returned to growth in June

    18 hours ago

    Survey: US services sector returned to growth in June

    WASHINGTON, July 6 — The US services sector grew in June after the coronavirus pandemic caused its steepest-ever contraction the month prior, an industry survey said today. The...

  • Airbnb recommends extension of tourism incentives to STRA hosts

    21 hours ago

    Airbnb recommends extension of tourism incentives to STRA hosts

    KUALA LUMPUR, July 6 — Airbnb has lauded the Malaysian government for the several key incentives dedicated to businesses in the tourism sector under the economic stimulus...

  • EU will stand firm against Washington over trade disputes, says commissioner

    21 hours ago

    EU will stand firm against Washington over trade disputes, says commissioner

    BRUSSELS, July 6 — The European Union will take decisive action against the United States if it is unwilling to settle a long-running row over aircraft subsidies and presses...

  • Patchy demand at stores spells more pain for garment suppliers

    22 hours ago

    Patchy demand at stores spells more pain for garment suppliers

    MADRID, July 6 — Fashion brands and retailers re-opening around the world to patchy demand, and carrying unsold stock from spring have cut fall orders by as much as two-thirds...

  • Britain’s Pret A Manger to close 30 UK shops, could cut over 1,000 jobs

    22 hours ago

    Britain’s Pret A Manger to close 30 UK shops, could cut over 1,000 jobs

    LONDON, July 6 — British coffee and sandwich chain Pret A Manger said today it will not reopen 30 UK shops after the coronavirus lockdown and could cut around 1,000 jobs,...

  • 20 hours ago

    UMK proposes centre for national business incubator

    KOTA BARU, July 6 — The proposed National Business Incubator at Universiti Malaysia Kelantan (UMK) is expected to provide numerous benefits to the residents as well as the local...

  • 20 hours ago

    IILM issues US$1.01b sukuk

    KUALA LUMPUR, July 6 — The International Islamic Liquidity Management Corporation (IILM) has reissued a total amount of US$1.01 billion (RM4.3 billion) short-term A-1 rated...

  • MASKargo makes maiden freighter flight to Myanmar

    22 hours ago

    MASKargo makes maiden freighter flight to Myanmar

    KUALA LUMPUR, July 6 — MAB Kargo Sdn Bhd’s (MASkargo) inaugural freighter flight to Myanmar arrived in Yangon International Airport (RGN) last Saturday evening with 60 tonnes...

  • Ringgit ends higher

    22 hours ago

    Ringgit ends higher

    KUALA LUMPUR, July 6 — The ringgit ended higher against the US dollar today on the back of higher oil prices amid tight supply in the market. As at 6pm, the ringgit was quoted...

  • Lloyds Bank boss Horta-Osorio to step down after a decade at the helm

    23 hours ago

    Lloyds Bank boss Horta-Osorio to step down after a decade at the helm

    LONDON, July 6 — Lloyds Bank Chief Executive Antonio Horta-Osorio said today he would step down next year after a decade at the helm, leaving Britain’s biggest domestic bank...

  • MPOB: 96.04pc of oil palm estates have achieved MSPO certification

    23 hours ago

    MPOB: 96.04pc of oil palm estates have achieved MSPO certification

    KUALA LUMPUR, July 6 — As of June 30, some 3,040 oil palm estates or 96.04 per cent of the total, comprising 4.06 million hectares, have obtained the Malaysian Sustainable Palm...

  • Bursa Malaysia ends on a firm note, up 1.56pc

    1 day ago

    Bursa Malaysia ends on a firm note, up 1.56pc

    KUALA LUMPUR, July 6 — Bursa Malaysia ended 1.56 per cent firmer today in tandem with the performance of its regional peers, taking a cue from the surge in Chinese blue chips....

  • British insurer Aviva appoints female CEO

    1 day ago

    British insurer Aviva appoints female CEO

    LONDON, July 6 — British insurer Aviva today appointed Amanda Blanc as chief executive, replacing with immediate effect Maurice Tulloch who has stepped down for “family health...

  • 1,000 jobs to go at German aircraft engine firm

    1 day ago

    1,000 jobs to go at German aircraft engine firm

    BERLIN, July 6 — German aircraft engine manufacturer MTU Aero Engines said today it is planning to cut at least 1,000 jobs as the impact of the coronavirus continues to hammer...

  • Asian markets rally on recovery hopes, despite virus surge

    1 day ago

    Asian markets rally on recovery hopes, despite virus surge

    HONG KONG, July 6 — Asian markets rallied out of the blocks today, with further signs of economic recovery continuing to resonate with investors more than a surge in coronavirus...

  • Chipmaker SMIC plans biggest China’s IPO in a decade

    1 day ago

    Chipmaker SMIC plans biggest China’s IPO in a decade

    SHANGHAI, July 6 —  China’s largest chipmaker, Semiconductor Manufacturing International Corporation, is planning to raise as much as US$7.5 billion (RM32 billion) in a...

  • Sterling falls vs euro, steady vs dollar; Chancellor’s support measures in focus

    1 day ago

    Sterling falls vs euro, steady vs dollar; Chancellor’s support measures in focus

    LONDON, July 6 — The pound fell against the euro, as the common currency rose today, and held steady against the US dollar, as traders looked ahead to this month’s Brexit...

  • UK decision on Huawei not set in stone, says minister

    1 day ago

    UK decision on Huawei not set in stone, says minister

    LONDON, July 6 — Britain’s decision to allow China’s Huawei to play a limited role in building its 5G network is not “fixed in stone” and is being reviewed following the...

  • Hong Kong stocks end with more big gains

    1 day ago

    Hong Kong stocks end with more big gains

    HONG KONG, July 6 — Hong Kong stocks soared again Monday, tracking a surge in mainland Chinese markets and extending a rally into a fourth day on hopes for the economic recovery...

  • China rally triggers gains in European cyclical stocks

    1 day ago

    China rally triggers gains in European cyclical stocks

    FRANKFURT, July 6 — European shares jumped in early trading today, with a rally in China's markets setting an upbeat tone as investors banked on the world's second biggest...

  • British homebuilder Barratt's volumes drop by a third, but order book thickens

    1 day ago

    British homebuilder Barratt's volumes drop by a third, but order book thickens

    LONDON, July 6 — Barratt Developments said today its deliveries had fallen by a third as the coronavirus crisis halted construction activity, though the British homebuilder...

  • In Israeli settlements, money is on annexation real estate boom

    1 day ago

    In Israeli settlements, money is on annexation real estate boom

    ARIEL, July 6 — In the Jewish settlement of Ariel, Perri Ben Senior can't wait for Israel to annex this part of the occupied West Bank, hoping it will be a boon for her real...

  • Bursa ends morning session higher

    1 day ago

    Bursa ends morning session higher

    KUALA LUMPUR, July 6 — Bursa Malaysia ended the morning session higher tracking the performance of regional peers, taking the cue from the surge of Chinese blue chip stocks....

  • UK new car sales post smaller slump in June on annual basis

    1 day ago

    UK new car sales post smaller slump in June on annual basis

    LONDON, July 6 — British new car registrations fell by a third on an annual basis in June when many dealerships reopened after Covid-19 lockdown measures were lifted, according...

  • Uber, Postmates agree on US$2.65b all-stock deal, reports Bloomberg News

    1 day ago

    Uber, Postmates agree on US$2.65b all-stock deal, reports Bloomberg News

    NEW YORK, July 6 — Ride-sharing company Uber Technologies Inc has agreed on a deal to buy food-delivery app Postmates Inc in a US$2.65 billion (RM11.35 billion) all-stock...

  • Brexit talks move to London after tough week in Brussels

    1 day ago

    Brexit talks move to London after tough week in Brussels

    LONDON, July 6 — Britain's separation talks with the European Union resume today with few signs of compromise on a new trade agreement and time running out to avoid a messy...

  • Ringgit edges up against US dollar at opening

    1 day ago

    Ringgit edges up against US dollar at opening

    KUALA LUMPUR, July 6 — The ringgit opened slightly better than the US dollar following the weaker greenback as risk appetite rose amidst the rising Covid-19 cases in the United...