Money

  • Sterling extends losses after new Covid-19 restrictions

    21 hours ago

    Sterling extends losses after new Covid-19 restrictions

    LONDON, September 23 — Sterling is having its worst month in four years and extended its fall against the dollar and euro on Wednesday after new long-lasting coronavirus...

  • Top shipping insurance group will not cover ships linked to Nord Stream 2

    20 hours ago

    Top shipping insurance group will not cover ships linked to Nord Stream 2

    MOSCOW, Sept 23 — The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because...

  • KL shares broadly lower at midday

    1 day ago

    KL shares broadly lower at midday

    KUALA LUMPUR, Sept 23 — Bursa Malaysia ended the morning session broadly lower on persistent selling activities and also in line with regional markets. At 12.30pm, the benchmark...

  • Covid-19 travel restrictions ravaged Spain hotel bookings in August

    20 hours ago

    Covid-19 travel restrictions ravaged Spain hotel bookings in August

    MADRID, Sept 23 — Travel restrictions around Europe aimed at curbing coronavirus contagion ravaged Spain’s tourism industry during the crucial month of August, depriving it of...

  • Huawei chairman urges US to reconsider 'attack' on global supply chain

    23 hours ago

    Huawei chairman urges US to reconsider 'attack' on global supply chain

    SHANGHAI, Sept 23 — Chinese telecom giant Huawei Technologies said today its supply chain was under attack from the United States and called on Washington to reconsider its...

  • Malaysia Airlines defers payments on RM1.5b Islamic bonds

    1 day ago

    Malaysia Airlines defers payments on RM1.5b Islamic bonds

    KUALA LUMPUR, Sept 23 — Malaysia's national carrier has deferred by six months payments to holders of RM1.5 billion in Islamic bonds, CIMB Investment Bank, the facility agent,...

  • Asian business confidence rebounds sharply, pandemic casts shadow, survey shows

    1 day ago

    Asian business confidence rebounds sharply, pandemic casts shadow, survey shows

    BENGALURU, Sept 23 — Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the...

  • German consumer confidence ticks up despite virus fears

    23 hours ago

    German consumer confidence ticks up despite virus fears

    FRANKFURT, Sept 23 — The mood among German consumers has improved slightly, boosted by a stable labour market despite an upswing in coronavirus cases, a closely watched survey...

  • Asian stocks struggle to build on Wall Street gains, US dollar rises

    1 day ago

    Asian stocks struggle to build on Wall Street gains, US dollar rises

    SINGAPORE, Sept 23 — Asia's stock markets struggled to emulate Wall Street's rebound today as persistent worries about the global economic recovery kept investors cautious,...

  • Ringgit extends downtrend against US dollar at opening

    1 day ago

    Ringgit extends downtrend against US dollar at opening

    KUALA LUMPUR, Sept 23 — The ringgit extended its downtrend against the US dollar at the opening today as the greenback resumed its sturdy position across the board. At 9am, the...

  • Bursa Malaysia opens higher

    1 day ago

    Bursa Malaysia opens higher

    KUALA LUMPUR, Sept 23 — Bursa Malaysia opened higher on mild buying interest across the market. At 9.20am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.60 points,...

  • US dollar holds gains as virus woes hurt euro and sterling

    1 day ago

    US dollar holds gains as virus woes hurt euro and sterling

    TOKYO, Sept 23 — The US dollar held onto gains against major currencies today, supported by positive US economic data and concerns about a second wave of coronavirus infections...

  • China's Ant takes another step towards US$35b IPO with registration move

    1 day ago

    China's Ant takes another step towards US$35b IPO with registration move

    SHANGHAI, Sept 23 — China's Ant Group submitted documents to the securities regulator for registration of the Shanghai portion of its IPO, the city's bourse said late yesterday,...

  • Tesla's value drops US$50b as Musk's promised cheaper battery 3 years away

    1 day ago

    Tesla's value drops US$50b as Musk's promised cheaper battery 3 years away

    FREMONT, Sept 23 — Investors slashed US$50 billion (RM205.8 billion) from Tesla Inc's market value yesterday despite CEO Elon Musk's promise to cut electric vehicle costs so...

  • Japan's SBI wants to shake up regional banks. It may get a Suga boost

    1 day ago

    Japan's SBI wants to shake up regional banks. It may get a Suga boost

    TOKYO, Sept 23 — Japanese financial firm SBI Holdings Inc has ambitions to revive struggling regional banks by taking stakes and pushing them into higher-margin businesses — a...

  • US airlines make urgent call for new bailout ahead of Oct 1 job cuts

    1 day ago

    US airlines make urgent call for new bailout ahead of Oct 1 job cuts

    WASHINGTON, Sept 23 — Major US airlines launched a last-ditch bid to persuade Congress to grant them a new US$25 billion (RM102.89 billion) bailout to help avert tens of...

  • Air industry urges rapid testing instead of quarantine

    1 day ago

    Air industry urges rapid testing instead of quarantine

    GENEVA, Sept 23 — The global aviation industry called yesterday for the development of rapid virus tests for all passengers before departures as an alternative to quarantine...

  • Libya's NOC says oil output to rise as it seeks to revive industry

    1 day ago

    Libya's NOC says oil output to rise as it seeks to revive industry

    LONDON Sept 23 — Libya's National Oil Company said it expected oil production to rise to 260,000 barrels per day (bpd) next week, as the Organisation of Petroleum Exporting...

  • Nike cheers return of pro sports as earnings top expectations

    1 day ago

    Nike cheers return of pro sports as earnings top expectations

    NEW YORK, Sept 23 — Nike shares rocketed higher yesterday after the company reported blowout quarterly earnings on strong digital sales and its CEO cheered the return of pro...

  • Wall Street closes higher on Amazon boost, despite economic worries

    1 day ago

    Wall Street closes higher on Amazon boost, despite economic worries

    NEW YORK, Sept 23 — Wall Street stocks rebounded yesterday, led by a jump in Amazon.com, even as a likely delay in new fiscal stimulus by Congress and an increase in the number...

  • Feuding minority shareholder agrees to exit India's Tata group

    1 day ago

    Feuding minority shareholder agrees to exit India's Tata group

    MUMBAI, Sept 23 — The largest minority shareholder in India's massive Tata group announced late yesterday that it would exit the conglomerate, ending a bitter years-long battle...

  • Despite aid impasse, Mnuchin sees strong US rebound in Q3

    1 day ago

    Despite aid impasse, Mnuchin sees strong US rebound in Q3

    WASHINGTON, Sept 23 — The United States is set for a strong economic rebound in the third quarter but additional government spending is still needed, Treasury Secretary Steven...

  • Venezuela launches London appeal in battle for US$1b in gold

    1 day ago

    Venezuela launches London appeal in battle for US$1b in gold

    LONDON, Sept 23 — The Nicolas Maduro-backed Venezuelan central bank launched a landmark appeal in London yesterday over US$1 billion (RM4.1b) of gold reserves held in the Bank...

  • Biden would end trade war with EU but focus on fixing imbalance in agricultural trade, says adviser

    1 day ago

    Biden would end trade war with EU but focus on fixing imbalance in agricultural trade, says adviser

    WASHINGTON, Sept 23 — Democrat Joe Biden would end the “artificial trade war” that US President Donald Trump has waged against Europe, while working to address persistent...

  • US existing home sales approach 14-year high, prices scale record peak

    1 day ago

    US existing home sales approach 14-year high, prices scale record peak

    WASHINGTON, Sept 23 — US home sales surged to their highest level in nearly 14 years in August as the housing market continued to outperform the overall economy, but record high...

  • Nasdaq, S&P 500 edge higher on Amazon boost; Dow under pressure

    1 day ago

    Nasdaq, S&P 500 edge higher on Amazon boost; Dow under pressure

    SEPT 22 — The S&P 500 and the Nasdaq edged higher today, led by a bounce in shares of Amazon.com, while uncertainty over more US fiscal stimulus kept trading in Dow...

  • French presidential palace requested LVMH letter, sources say

    1 day ago

    French presidential palace requested LVMH letter, sources say

    PARIS, Sept 22 — France’s presidential palace asked Foreign Minister Jean-Yves Le Drian to send luxury goods company LVMH a letter advising it to defer its acquisition of US...

  • Dollar bounceback pauses, Aussie and Kiwi regain lost ground

    1 day ago

    Dollar bounceback pauses, Aussie and Kiwi regain lost ground

    LONDON, Sept 22 — The tide of risk-aversion which saw the dollar hit new six-week highs early today ebbed as the session wore on, as European equity markets rose, the dollar’s...

  • 1 day ago

    IJM Corp announces three-year strategic focus

    KUALA LUMPUR, Sept 22 — IJM Corporation Bhd has announced a three-year strategic focus built around three pillars: build resilience, drive growth, and nurture capabilities. Its...

  • 1 day ago

    Asdion directors reprimanded by Bursa Malaysia

      KUALA LUMPUR, Sept 22 — Bursa Malaysia Securities Bhd has reprimanded Asdion Bhd and five of its directors for breaches of the Bursa Malaysia Securities ACE Market...

  • Ringgit eases against US dollar

    1 day ago

    Ringgit eases against US dollar

    KUALA LUMPUR, Sept 22 — The ringgit continued to close lower against the US dollar today despite a rebound in oil prices, due to the stronger greenback . As at 6pm, the local...

  • As cash flees Macau junkets, gambling hub faces long odds of quick recovery

    1 day ago

    As cash flees Macau junkets, gambling hub faces long odds of quick recovery

    HONG KONG, Sept 22 — Fears China is broadening a crackdown on offshore gambling has sparked a rush to withdraw billions of dollars from the world’s biggest gambling hub Macau,...

  • 1 day ago

    Bank Muamalat revises loan growth target to 7pc this year

    KUALA LUMPUR, Sept 22 — Bank Muamalat Malaysia Bhd has revised its loan growth target to seven per cent this year from the 13 per cent initial target it set this year. Chief...