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Wednesday, May 22, 2019

Local Business

ECRL will contribute 2.7% to growth, says MIDF Research

It says the railway project will result in economic expansion through job creation and opening up of new growth areas.

Bank Negara cuts interest rate in bid to manage economy

University Malaya professor says the Overnight Policy Rate cut to 3% is to counter a slowing economy.

Bank Negara cuts key rate by 25 bps to 3%

This is the first cut in nearly three years.

April palm oil stocks expected at 6-month low

Palm oil prices are dwindling and a Reuters survey report states it fell to a six-month low by end-April.

DiGi hits over 16-month high on telco merger talks

The Digi-Celcom merger has been one good one for Digi as it shares has risen to as much as 11.55%, its largest since 2010.

Ringgit opens flat against US dollar in early trade

A lack of fresh leads results in the Ringgit opening flat against the US dollar today.

Bursa Malaysia opens flat

It is not good news as Bursa Malaysia's index opened 6.03 points weaker at 1,626.77 as trade talks between the United States and China continue to add on uncertainty to the global economy.

Telenor upbeat about merger talks with Axiata, to take majority stake

The Norwegian telecommunications giant says the merged entity will be one of Asia’s largest mobile infrastructure companies.

Palm oil titan warns EU limits on biofuel use will backfire

The world needs palm oil as supplies from alternative oilseeds just won’t be enough to meet rising demand for food and fuel.

Economies of scale expected from Axiata-Telenor mega merger

Both companies have requested advice from foreign investment banks on the merger and acquisition exercise, which would likely involve at least 300 million mobile subscribers.

Bursa Malaysia opens lower

Declining global crude oil prices and the worsening US-China trade negotiations causes Bursa Malaysia to open lower.

FGV winds up 2 of its companies

FGV has offered severance packages to a total of 135 employees from the two companies.

Malaysia registers highest month-on-month export growth since April 2010

Exports in March this year grew by 26.2% while total trade surged 25.9%, says Miti.

Proton is second best-selling car for April 2019

The strong sales are driven by its latest model Proton X70.

McDonald’s Malaysia eyes sales of RM3 billion in 2019

This follows a record 19% growth in sales the year before.

Ringgit opens lower on possible OPR cuts next week

At 9 am, the ringgit was lower at 4.1400/1430 compared with 4.1355/1385 at Thursday's close.

Bursa opens easier

At 9.05am, the benchmark FBM KLCI fell 1.03 points to 1,631.21, from Thursday's close of 1,632.24.

Tony Fernandes: AirAsia’s Philippine unit plans more than US$200 mln IPO

AirAsia hopes to raise more than US$200 million to expand its capacity in the Philippines.

New shopping tool to help Singaporeans choose ethical palm oil products

EcoCart currently works with three major e-commerce websites, helping consumers and retailers to do their part for the environment.

MAHB registers record profit after tax of RM727.3 mil for FY18

The airports operator hopes to replace the baggage handling system and aerotrains at KLIA.

Bursa Malaysia opens higher but turns lower thereafter

The market was jittery as the US Federal Reserve held interest rates steady and showing little appetite to adjust them any time soon.

Bursa Malaysia opens lower

Malaysian stocks continue to stay decoupled from the performance of most global and regional equity markets.

Malaysia’s online hiring up 16%, led by IT and ISP sectors

Software, hardware and telecoms are the job roles with highest demand, according to Monster Employment Index.

Public Bank records higher Q1 net profit

The bank attributes its profitability to healthy loan and deposit growth.