Bank Rakyat Bags ‘Best Islamic Bank 2014’ Award

KUALA LUMPUR, Oct 27 – Malaysia’s largest Islamic cooperative bank, Bank Rakyat, was named the “Best Islamic Bank 2014” at the Global Islamic Finance Award (GIFA) held in Dubai, United Arab Emirates, tonight. The annoucement was made by the bank’s chairman, Datuk Mat Noor Nawi, earlier today at the inaugural Bank

Oppo Mobile To Go Into Non-traditional Distribution Channels

KUALA LUMPUR, Oct 27 – Chinese mobile phone manufacturer, Oppo Mobile, is strengthening its presence in Malaysia by moving into the non-traditional distribution channels such as offering in supermarkets and home appliance stores. Oppo Mobile Malaysia chief executive officer William Fang said since its inception in the local market in February

More Developing Commonwealth Nations Keen To Implement PPP

PUTRAJAYA, Oct 26 – More and more Commonwealth countries especially African countries are keen to implement Public-Private Partnership (PPP) undertaken by Malaysia in efforts to enhance infrastructure development in their own countries. According to the Chief Secretary to the Government, Tan Sri Dr Ali Hamsa, who is also President of the

Plug Leakages To Save MAS – Kayveas

KUALA LUMPUR, Oct 26 – Plugging leakages is one of the measures that can save Malaysia Airlines, even as the airline prepares for a milestone Extraordinary General Meeting (EGM) for minority shareholders on November 6, says Tan Sri M. Kayveas, Special Advisor to the Minister of Transport. “The system now gives

Apple Under Fire For ‘Low Wages’

SAN FRANCISCO, Oct 25 – Consumer advocate Ralph Nader sent a letter to Apple Inc chief executive officer Tim Cook urging the company to reduce its spending on share buybacks and use the money to raise wages, the Wall Street Journal reported yesterday. The five-time presidential candidate wrote in a letter published by

TPPA ‘Set To Conclude This Year’

MELBOURNE, Oct 25 – Australia’s Trade Minister Andrew Robb says the Trans-Pacific Partnership Free Trade Agreement (TPPA) is starting to take shape and “should be concluded by year’s end”, the Australian Associated Press reports. The deal will send a signal about the importance of the Asia-Pacific region, especially during a time of

Thai Garment Export To Show Moderate Growth

BANGKOK, Oct 24 – Thailand’s garment exports are expected to grow by 0-5 per cent next year and around 2-3 per cent this year to almost US$3 billion. The projection is based on the loss of tax privilege for garment export to the European Union (EU) early next year coupled with deflation

Airlines Profit Expectations Remain Positive, Says IATA

KUALA LUMPUR, Oct 23 – Airlines’ profit expectations remain positive amid improvement in recent performances, according to the International Air Transport Association’s (IATA) quarterly survey of airlines’ Chief Financial Officers and Heads of Cargo in October. It said the recent past financial performance had started to improve again compared to a year

Thai Business Sentiment Shatters In September

BANGKOK, Oct 22 – Manufacturers are concerned over Thailand’s flagging economy, weaken domestic consumption and rising competition. The Thai Industries Sentiment Index (TISI) in September retreated for the second consecutive month following weaken sales and order volumes, production output and business performance. In addition, liquidity problem has affected the ability of the private

Tesco’s Overestimated Profit Less Than £250m

LONDON, Oct 20 – The world’s third largest retailer, Tesco, will state next week that it overestimated earnings by less than the £250 million (RM1.3 billion) which it previously announced, Sky news reported on Saturday, citing a banking source. Sky said on its website when the group reports its delayed

IMF: Subsidy Arguments Miss Key Points

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KUALA LUMPUR, Oct 8 – The International Monetary Fund (IMF) makes a compelling argument for removing energy subsidies such as those on petrol and replacing them with targeted subsidies for the vulnerable in society. In its study titled, “Energy Subsidy Reform: Lessons and Implications” the IMF points out the top 20% of the

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