Business

MAS to trim staff, routes in reform plan
Friday, August 29, 2014

KUALA LUMPUR, August 29, 2014: Malaysia Airlines will slash thousands of staff, trim routes, replace its CEO and could see future stake sales to outside investors under plans announced today to save it from bankruptcy after two devastating disasters.
 
State investment fund Khazanah Nasional, which has taken control of the failing flag carrier, said it planned...

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Malaysia Airlines' loss nearly doubles on MH370 impact
Thursday, August 28, 2014

KUALA LUMPUR, August 28, 2014: Crisis-stricken Malaysia Airlines said today its second-quarter loss nearly doubled as the loss of flight MH370 spurred a decline in bookings, warning the red ink would accelerate as the year wears on.
 
The flag carrier said it posted a 305.7 million ringgit ($97.2 million) loss in the April-June quarter, which followed the March 8 disappearance of flight MH370 with 239 passengers and crew aboard....

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Malaysia could be global halal hub by 2020
Thursday, August 28, 2014

KOTA KINABALU, August 28, 2014: Malaysia is in a strong position to become the global halal hub in 2020, judging by the almost 4,500 companies having halal certification as of last March.
 
Sabah's Assistant Industrial Development Minister Datuk Bolkiah Ismail said the figure was a 35.5 per cent increase over the same period last year.
 
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Australia's Qantas posts record loss of US$2.6 billion
Thursday, August 28, 2014

SYDNEY, Aug 28 - Australia's national airline Qantas on Thursday revealed a full-year loss of 2.8 billion Australian dollars (US$2.6 billion) in the worst result in the company's history.
  
Qantas blamed weak demand in Australia, low consumer and business confidence and higher fuel prices for the company's record loss, Xinhua news agency reported.
  
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Malaysia's agrobazaar officially opens in Singapore
Wednesday, August 27, 2014

SINGAPORE, August 27, 2014: Malaysian Prime Minister Datuk Seri Najib Tun Razak and his Singaporean counterpart Lee Hsien Loong marked a historic milestone when they launched the Federal Agricultural Marketing Authority's (Fama) first agrobazaar in Singapore today to serve as a one-stop centre for consumers to buy halal products from Malaysia.
 
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France's economic malaise: Sense of deja-vu?
Wednesday, August 27, 2014

PARIS, August 27, 2014: When Francois Hollande's inaugural parade was drenched in rain and his plane hit by lightning on the same day, some jokingly wondered whether this was a divine warning of things to come.
 
More than two years on, a deep-set malaise has gripped France as record unemployment, stagnant growth and political instability take their toll on a country already well-versed in what the New York Times once dubbed existential anguish....

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Halim fails in bid to reinstate suit against Khazanah
Wednesday, August 27, 2014

PUTRAJAYA, August 27, 2014: Former Renong boss Tan Sri Halim Saad has failed in his appeal to reinstate a civil suit against Khazanah Nasional and two others over his settlement to give up control of Renong.
 
A three-member Court of Appeal panel chaired by Justice Datuk Zaharah Ibrahim today unanimously dismissed Halim's appeal which he had filed to reverse a high court decision that threw out his civil suit of RM1.8 billion against the three respondents....

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India anti-trust watchdog fines carmakers $420 million
Wednesday, August 27, 2014

NEW DELHI, August 26, 2014 - India's anti-trust watchdog has fined 14 automakers a total of $420 million for restricting competition in the spare parts market and driving up prices, a official said Tuesday, a few days after Chinese regulators took similar action.
 
The Competition Commission of India found domestic automakers and local units of global vehicle manufacturers guilty of "anti-competitive...

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Petronas honours long-serving staff
Tuesday, August 26, 2014

KOTA KINABALU, August 26, 2014: Long-serving staff of the Petronas Sabah, Sarawak and Labuan offices were honoured here last Saturday.
 
The annual event paid tribute to and recognised the company's 130 long-serving employees who had respectively worked for 15, 20 and 25 years with the national oil and gas company.
 
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AmInvest urges investors to enter market
Monday, August 25, 2014

KUALA LUMPUR, August 25, 2014: AmInvestment Services Berhad said investors should enter the market now as analysts expect corporate earnings in Malaysia to grow higher next year.
 
Senior Vice-President of Retail and Retirement Funds Ng Chze How said corporate earnings were expected to grow by up to 7.0 per cent this year and 10 per cent in 2015.
 
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