Business

Will Dr Mahathir drive Proton to new heights?
Thursday, May 22, 2014

KUALA LUMPUR: Intrigued with the appointment of Tun Dr Mahathir Mohamad as chairman of Proton Holdings Bhd, auto industry observers say the former Prime Minister will bring plenty to the national carmaker. They also said that they have a "healthy scepticism" on whether he can steer the ailing company to success. Dr....

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Selangor submits water plan
Thursday, May 22, 2014

KUALA LUMPUR: The Selangor state government yesterday submitted an action plan proposal to the federal government to ensure the restructuring of the water industry in Selangor is resolved as soon as possible after the three concessionaires agreed to be acquired by the state government. In a statement yesterday, Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim said the action plan for the...

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Monetary adjustments will not be policy of monetary tightening: Zeti
Thursday, May 22, 2014

KUALA LUMPUR:Bank Negara Malaysia's governor Tan Sri Zeti Ahtar Aziz has reassured that any increase in interest rates in the future would not hurt and will continue to support the country growth's growth.   This follows news and hints from the central bank in recent days that it may likely have to raised interest rates due to the growing financial imbalances that is reflecting in the substantial household debts of the nation....

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New French trains too wide for stations
Wednesday, May 21, 2014

PARIS, May 21: Cash-strapped France will have to trim back some 1,300 rail platforms at a cost of 50 million euros after realising a brand new fleet of trains are too big to fit its stations, rail operators admitted today.
 
France's secretary of state for transport, Frederic Cuvillier, called it a tragically comical, mind-boggling mix-up, blaming a lack of coordination between France's two state rail bodies, the SNCF and the RFF....

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AirAsia's 'bully' remark towards Malaysia Airports not taken lightly
Wednesday, May 21, 2014

SEPANG – Malaysia Airports has many business partners including over 60 international airlines, that it supports at its 39 airports. When AirAsia as one of its key airline partners hauls the term ‘bully’ at it, the Malaysia Airports’ management and staff take exception to the remark, as it has always supported and served all its partners professionally.  ...

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1MDB secures second extension on $1.9 bln loan-sources
Wednesday, May 21, 2014

KUALA LUMPUR/SINGAPORE: State investor 1Malaysia Development Bhd (1MDB) has won a six-month extension on a 6.17 billion ringgit ($1.9 billion) bridge loan, giving it more time to launch a planned IPO of its power assets to cut the debt, people familiar with the matter said.It marks the second time that 1MDB has delayed the loan repayment, after it secured a six-month extension last year.  ...

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Growth in advanced countries slows
Tuesday, May 20, 2014

PARIS, May 20: Economic growth in Japan, Germany and Britain picked up strongly in the first quarter of the year, leading output in advanced countries which slowed down overall, the latest OECD data showed today.
 
But the US economy, the biggest in the world, flagged and France also turned in a lagging performance.
 
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Thailand investors voice fears after army takeover
Tuesday, May 20, 2014

TOKYO, May 20: Thailand's biggest investor Japan today expressed grave concerns after the army imposed martial law, with the United States saying it must only be temporary, as multinational firms monitored events nervously.
 
After months of anti-government protests, generals ordered forces onto the streets of Bangkok and troops were positioned at television stations as the army said the media would be censored....

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Malindo Air offers free seats for new KL-Batam service
Tuesday, May 20, 2014

KUALA LUMPUR:Hybrid airline Malindo Air is giving away free seats for one-way travel, with only the airport tax to be charged, for its new service from Subang to Batam commencing on May 28.    "The promotion is applicable for travel from May 28 to June 29, 2014 and is available for booking from now until May 31," the airline said in a statement today....

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Dr Mahathir takes charge of Proton
Tuesday, May 20, 2014

KUALA LUMPUR: FORMER Prime Minister Tun Dr Mahathir Mohamad will be appointed chairman of national car maker Proton Holdings Bhd, effectively taking over the helm of the national carmaker. Proton is expected to make an announcement within days, in what is seen as DRB-Hicom's boldest move to date in its effort to transform Proton's sliding fortunes since it took the company private in 2012, sources familiar with the company said....

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