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Asian shares stumble, oil surges after US air strikes in Iraq
Asian shares fell today, erasing early gains, while oil prices spiked after US air strikes in Iraq killed a top Iranian commander, heightening geopolitical tensions. Iranian Major-General Qassem Soleimani, head of the elite Quds Force and top Iraqi militia commander
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Proton sales up 55.7% to 100,821 units last year
PUCHONG: Proton has sold 100,821 units of vehicles in 2019, a 55.7% increase over sales in 2018, mainly contributed by Proton X70 and Proton Saga models. This is the first time the national carmaker crossed the 100,000-unit threshold since 2015.
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Bank Negara: Malaysia’s reserves at US$103.17 bln as of Nov
KUALA LUMPUR: Malaysia’s reserves remained usable as of end-November 2019, with official reserve assets at US$103.17 billion, in accordance with the International Monetary Fund’s Special Data Dissemination Standard (IMF SDDS) format. In a statement today, Bank Negara Malaysia (BNM) said
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BNM to issue up to five digital bank licences
KUALA LUMPUR: Up to five licences may be issued to qualified applicants to establish digital banks to conduct either conventional or Islamic banking business in Malaysia. Bank Negara Malaysia (BNM) has issued the Exposure Draft on Licensing Framework for digital
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A perfect crosswind landing for the aviation sector in 2019
KUALA LUMPUR: The year saw the country’s aviation sector square up to a string of challenges such as overcapacity in the region, rising cost, air-safety rating downgrade, airport system malfunction coupled with slower economic growth and volatile foreign exchange rate.
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IMF: Malaysian making progress on reform agenda
KUALA LUMPUR: International Monetary Fund (IMF) said Malaysian authorities are making progress on their reform agenda, with real gross domestic product (GDP) growth holding up and is projected at 4.5% for 2019, driven by domestic demand. Malaysia’s headline inflation is
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China announces new tariff exclusions for some US imports
China today unveiled a new list of tariff exemptions for imports from the United States, days after the world’s two largest economies announced a Phase 1 trade deal. The tariff waivers will be effective Dec. 26, and will apply for
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Malaysia Airlines, Japan Airlines granted approvals for joint business agreement
KUALA LUMPUR: Malaysia Airlines and Japan Airlines are set to launch a joint business structure in 2020 following the concurrent decisions from the Malaysian Aviation Commission (Mavcom) to grant an individual exemption and Japan`s Ministry of Land, Infrastructure, Transport and Tourism
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PNB declares 5.5 sen a unit for ASB
PUCHONG: Permodalan Nasional Bhd (PNB) announced an income distribution of five sen a unit and a bonus of 0.50 sen for Amanah Saham Bumiputera (ASB) for 2019, despite a 7.2% contraction in Bursa Malaysia’s FBM KLCI year-to-date. PNB chairman Tan
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Petronas: Outlook for oil and gas industry challenging
KUALA LUMPUR: The outlook for the oil and gas industry remains challenging amid geopolitical upheavals, prolonged trade tensions, and a global economic slowdown resulting in demand disruptions, Petronas vice president for group procurement Liza Mustapha said. “The challenging landscape would
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