Business

Russia warns Europe of possible gas disruptions over Ukraine
Monday, June 16, 2014

MOSCOW, June 16 - 2014: Russia warned Europe today of possible supply disruptions if Ukraine siphons off gas destined for the West, as it said it was seeking to recover $4.5 billion from Kiev in an arbitration court.
 
The state-controlled giant Gazprom took a step today toward cutting Ukraine's gas supply by requiring it to pay for the commodity ahead of time following the breakdown of talks....

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MAS needs radical ​t​op​-​to​-​bottom​ revamp
Monday, June 16, 2014

KUALA LUMPUR: Malaysian Airline System Bhd (MAS) should be privatised to Malaysians who have experience in the aviation business and who can work with the national carrier ' s powerful unions, says former Prime Minister Tun Dr Mahathir Mohamad.
 
Dr Mahathir said of all the options open to bring the airline back into profitability, privatisation would offer the best chance at the...

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Veteran MP fires at MAS unions
Monday, June 16, 2014

KUALA LUMPUR, June 15 - 2014: Dr. Tan Seng Giaw, one of the country's longest-serving MPs, has criticised unions connected to Malaysia Airlines (MAS) for obstructing efforts to turn around the airline with their unreasonable demands and threats.
 
Tan pointed out that the MAS saga had been going on for far too long, for well over 40 years, with the unions getting stronger to the detriment of the ailing carrier itself....

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MAS retires Boeing 737-400 from its fleet
Sunday, June 15, 2014

SEPANG : Malaysia Airlines retired the Boeing 737-400 passenger aircraft from its fleet, 22 years after it entered the carrier's service in 1992.
 
The last series 737-400 had touched down in Kuala Lumpur International Airport (KLIA) yesterday night after taking off from the Bayan Lepas airport in Penang.
 
It carried ninety-nine passengers and was served by eight cabin crews....

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Petronas blowdown in Lawas to start tomorrow
Friday, June 13, 2014

KUALA LUMPUR, June 13 - 2014: Petronas will conduct a blowdown as a safety measure prior to starting repairs after the recent fire at the Sabah-Sarawak Gas Pipeline (SSGP) in Lawas, Sarawak.
 
The national oil company's Sarawak regional office in a statement said the process to completely remove residual gas in the affected section of the pipeline is scheduled tomorrow from noon to 3pm near Merapok....

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Thailand ends costly rice subsidy scheme
Friday, June 13, 2014

BANGKOK, June 13 - 2014: Thailand's military junta today ends the country's costly rice subsidy scheme and will help the farmers through education as well as cutting production cost.
 
General Prayuth Chan-ocha, Chairman of the National Council for Peace and Order (NCPO), said whether there would be one in the future was a different matter.
 
...

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Singapore remains top foreign investor in Iskandar
Thursday, June 12, 2014

NUSAJAYA, June 12 - 2014: Singapore continues to be the top foreign investor in Iskandar Malaysia with committed investments of RM11 billion up to this April.
 
Iskandar Regional Development Authority Chief Executive Datuk Ismail Ibrahim said from 2006 up to the end of April, the economic corridor had attracted RM138.61 billion in committed investments, of which 45 per cent had been realised....

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Imported sugar hurting local business
Thursday, June 12, 2014

KUALA LUMPUR: The government's policy to allow manufacturers to import their own sugar at cheaper prices is hurting local sugar refiners, according to Malaysia's largest sugar company MSM Malaysia Holdings Bhd.
CEO Datuk Sheikh Awab Sheikh Abod said local refiners like MSM have invested billions into making Malaysia self-sufficient in sugar but big import quotas awarded by the government meant...

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Malaysia wants to pioneer Islamic wealth management
Thursday, June 12, 2014

KUALA LUMPUR: Malaysia aims to take a lead in the Islamic financial sector by being the first economy worldwide to pioneer Islamic wealth management products.
The new innovation within the Islamic financial framework would further prosper the global Islamic financial industry, which is expected to grow to US$2 trillion (RM6.42 trillion) this year, said Deputy Finance Minister Datuk Ahmad Maslan....

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PM confident growth momentum will be maintained
Thursday, June 12, 2014

KUALA LUMPUR, June 12 - 2014: Prime Minister Datuk Seri Najib Tun Razak is confident the nation's economic growth will be maintained in the second quarter of the year, driven by political stability and investors' confidence with government policies.
 
He said the momentum would also be spurred by vibrant domestic activities, coupled with a competitive export sector in the first quarter....

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