Business

Drop in oil revenue has minimal impact on govt finances
Thursday, November 27, 2014

KUALA LUMPUR -- The impact of the drop in world crude oil prices on government revenues and finances is relatively minimal, considering that the government has gradually reduced its dependency on oil and gas revenues, said Datuk Seri Abdul Wahid Omar.

The Minister in the Prime Minister's Department said one of the sustainability elements in government finances was to reduce its reliance on oil and gas revenues....

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OPEC wants non-members to help tackle oil supply glut
Wednesday, November 26, 2014

VIENNA -- November 26, 2014: OPEC needs non-cartel members to help address an oil supply glut that is set to grow next year, Iran's oil minister said here today. "All the experts in the markets believe that we have an oversupply in the market and next year we will have more oversupply," Iran's Oil Minister Bijan Namdar Zanganeh told reporters. ...

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Malaysia needs an equitable economic model
Wednesday, November 26, 2014

KUALA LUMPUR -- Malaysia needs an economic model which can ensure economic growth that is accompanied by fair distribution of wealth, said Umno Deputy President Tan Sri Muhyiddin Yassin.

He said the inequality that existed in the society currently was frightening with the economy of the Malays still at a critical level, apart from various challenges facing them in continuing with their economic agenda....

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Govt still looking for partners to build RazakSAT-2
Tuesday, November 25, 2014

KUALA LUMPUR -- The government is still looking for suitable and interested partners to collaborate in the building of RazakSAT-2, the remote-sensing satellite to monitor the earth's surface.

Science, Technology and Innovation Deputy Minister Datuk Dr Abu Bakar Mohamad Diah said this was because the government did not want to be hasty in looking for partners who could provide input in the building of the second mini Malaysian satellite....

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Malaysia to stop petrol subsidies from December 1
Friday, November 21, 2014

PUTRAJAYA -- November 21, 2014: Beginning December 1, RON95 petrol and diesel prices will be set according to the managed float system. Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Hasan Malek announced today that this float system that was decided by the cabinet today is the same system used to set the retail price of RON97 petrol since July 2010. ...

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World's ultra-rich getting much richer
Friday, November 21, 2014

WASHINGTON -- November 21, 2014: A bare 0.004 per cent of the world's adult population controls nearly $30 trillion in assets, 13 per cent of the world's total wealth, according to a new study released yesterday.
 
And perhaps unsurprisingly, the study by the Swiss bank UBS and luxury industry consultant Wealth-X said the concentration of money in the hands of the ultra-rich is growing....

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MAS offers charter flights to Christmas Island
Thursday, November 20, 2014

KUALA LUMPUR -- November 20, 2014: A charter service between here and Christmas Island is the latest service offered by Malaysia Airlines.
 
The service is scheduled to operate from this December 13 to January 31, 2015, using the B737-800 which has a capacity of 156.
 
MAS vice-president (Haj...

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MAS offers more specials for travellers flying from India
Thursday, November 20, 2014

NEW DELHI -- November 20, 2014: Malaysia Airlines (MAS) is offering exciting air fares starting from Rs11,860 (RM664) for travellers from India through its Year-End Specials campaign from today until Decembe 2.
 
The all-inclusive economy class return fare from India to Malaysia and Indonesia starts at just Rs11,860 and Rs15,890 respectively fo the travel period between next January 5 and March 31, the airline announced today....

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Ekuinas distributes profits to benefit Bumiputera investors in PNB
Thursday, November 20, 2014

KUALA LUMPUR -- Prime Minister Datuk Seri Najib Tun Razak today (yesterday) announced a distribution of RM500 million from the profits of Ekuiti Nasional Bhd (Ekuinas) to benefit over 10 million Bumiputeras who are unitholders of Permodalan Nasional Bhd (PNB).

He said the distribution would be used by PNB as savings and for further investments so that the value would grow bigger and could be enjoyed by the unitholders on a sustainable basis for the long term....

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More French firms in the country soon, says MIDA
Thursday, November 20, 2014

KUALA LUMPUR -- Malaysia will soon host more French companies following the expansion of a business centre for the Malaysian French Chamber of Commerce and Industry (MFCCI).

Malaysian Investment Development Authority (MIDA) Deputy Chief Executive Officer Datuk Rajendran Narayanasamy said the centre will help French companies explore opportunities not only in Malaysia but also the region....

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