Money

  • Bursa Malaysia strengthens at close amid Covid-19 slowdown

    20 hours ago

    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...

  • Last but not least: Exxon chops spending by 30pc

    18 hours ago

    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...

  • EU to agree virus bail-out but not ‘coronabonds’

    20 hours ago

    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...

  • Asia markets extend gains on glimmers of hope in virus fight

    21 hours ago

    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...

  • Norway’s unemployment rises to record 15.4pc of work force

    18 hours ago

    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...

  • Petronas counters rise on new oil discovery in US Gulf of Mexico

    22 hours ago

    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...

  • Bank Negara’s international reserves at US$101.7b as at March 31, 2020

    22 hours ago

    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...

  • CIMB Bank, CIMB Islamic waive fees for Tabung Haji transactions via ATMs, CDMs

    20 hours ago

    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...

  • China stocks end higher on stimulus, drop in new coronavirus cases

    22 hours ago

    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...

  • Micro, small entrepreneurs urged to go online during MCO

    23 hours ago

    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...

  • Australia's cenbank warns of 'very large' GDP slump, keeps record low rates

    23 hours ago

    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...

  • KL shares stay positive on easing of Covid-19 cases

    1 day ago

    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...

  • The greenback is still king, even as coronavirus slams US

    1 day ago

    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...

  • Oil prices rebound on hopes for output cut deal

    1 day ago

    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...

  • 22 hours ago

    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...

  • Asian shares cautiously gain on virus hopes, US dollar slips

    1 day ago

    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...

  • Bursa lifted by govt stimlus package at opening

    1 day ago

    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...

  • Ringgit higher in early trade against US dollar

    1 day ago

    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...

  • British pound on back foot as PM Johnson enters intensive care

    1 day ago

    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...

  • Trump announces 3M deal for millions of masks

    1 day ago

    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...

  • Argentina's  worst economic crisis since 2001

    1 day ago

    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...

  • Italy announces guarantees for bank loans worth over €400b

    1 day ago

    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...

  • Boeing suspending 787 production at South Carolina plant

    1 day ago

    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...

  • Air France-KLM has €6b cash, will need state support soon, reports newspaper

    1 day ago

    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...

  • Rush for masks, toilet paper slows Japan's household spending decline

    1 day ago

    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...

  • Trump says Opec has not asked him for a US oil production cut

    1 day ago

    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...

  • Panic buying, trade curbs cause shortages of coronavirus drugs in EU

    1 day ago

    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...

  • Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar

    1 day ago

    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...

  • Opec+ likely to agree to cut production if US joins effort, say sources

    1 day ago

    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...

  • Wall St soars on hopes of slowing coronavirus deaths

    1 day ago

    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...

  • Wall Street opens higher on global recovery signs

    1 day ago

    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...

  • Women and low-paid among worst hit by UK coronavirus job cuts

    1 day ago

    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,...

  • Mexican president floats ‘Marshall Plan’ to help emerging markets

    1 day ago

    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...