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Oil prices drops 2% as trade war shakes confidence
TOKYO: Oil prices fell pushing U.S. crude to its lowest in more than two weeks, as a ratcheting up of tensions in the U.S.-China war knocked confidence in the global economy. Brent crude was down 89 cents, or 1.5%, at
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Malaysian banks’ profit under pressure
Second-quarter bank earnings are projected to be lacklustre owing to slower loan growth and compressed margins following Bank Negara Malaysia’s decision to cut the overnight policy rate (OPR) in May. “Our biggest concern in the upcoming reporting season is, to
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KLCI soars higher but stays below 1,600 points
KUALA LUMPUR: The FBM KLCI ticked higher but remained below the crucial 1,600-point level at mid-morning today as local investors stayed cautious. At 10.05am, the FBM KLCI added 2.32 points to 1,596.91. Gainers led losers by 239 to 216, while
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Brent oil up to $60, buoyed by US inventory drawdown
Prices for Brent oil soared above $60 a barrel for the first time in over a week today amid data that showed a larger-than-expected drawdown in US crude inventories, but ongoing worries about a global economic recession capped gains. Brent
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KLCI opens lower due to regional decline, stays below 1,600-level
KUALA LUMPUR: The FBM KLCI started lower in early trade, tracking the decline at regional markets, weighed by select index-linked stocks. At 9.05am, the FBM KLCI fell 3.06 points to 1,599.69. The early decliners included Focus Lumber Bhd, Sime Darby
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TNB drops suit against Gamuda after RM91m settlement
KUALA LUMPUR: Gamuda Bhd said Tenaga Nasional Bhd (TNB) has withdrawn a legal suit against the group after a full settlement of a sum totalling RM91.1 million. “TNB’s solicitors have withdrawn all matters pertaining to the TNB suit with no
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Pos Malaysia slides 1.86% on weaker earnings
KUALA LUMPUR: Shares in Pos Malaysia Bhd fell 1.86% this morning after it posted a net loss of RM15.1 million in the quarter ended June 30, 2019, compared with a net profit of RM4.98 million in the corresponding quarter a
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Utusan is valued at only RM8m
KUALA LUMPUR: Utusan Melayu (M) Bhd’s share price fell as much as four sen or 36.36% to seven sen, valuing the company at barely RM8 milion, so far today after the newspaper publisher announced yesterday a net loss for its
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Oil prices slip, hopes US-China tensions to ease
SINGAPORE: Crude oil prices slipped on Tuesday, but losses were limited as equity markets rallied and as traders hoped Sino-US trade tensions would ease. The United States said it would extend a reprieve that permits China’s Huawei Technologies to buy
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Dollar near 3-week high as thaw in risk aversion lifts yields
TOKYO: The dollar held near a three-week high today, as expectations global economies would unleash fresh stimulus and an improvement in appetite for riskier assets lifted yields on U.S. government bonds. Yields on benchmark U.S. Treasuries pulled away from three-year
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