Business - The Malaysian Insider

Volkswagen says wrongfooted by US going public on emissions

Embattled German automaker Volkswagen believed it could clear up emissions-cheating allegations with US authorities amicably and was caught offguard by them going public instead, a key company...

Alibaba’s Ant Financial could be valued at nearly US$60 billion

Chinese e-commerce giant Alibaba Group Holding Ltd's arm, Ant Financial Services Group, is seeking a valuation of nearly US$60 billion (RM245 billion) in its current round of funding, a person...

Bank Negara’s international reserves stabilise at US$95.6 billion

The international reserves of Bank Negara Malaysia (BNM) remained stable at US$95.6 billion (RM410.5 billion) as at February 29 compared with US$95.6 billion (RM410.2 billion) as at February...

Petronas sets March crude price factor at US$4.30 per barrel

State oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for March at US$4.30 (RM17.60) per barrel, down 30 cents from the previous month, the company said today. Petronas...

Oil rout over, Opec aims for US$50 anchor

Major Opec producers are privately starting to talk about a new oil price equilibrium of US$50 a barrel, adding to signs that the market's long, deep rout is officially over, says one of the...

Ringgit ends sharply higher against greenback

The ringgit closed sharply higher against the US dollar today on the back of the recovery in oil prices and improving US non-farm payrolls (NFP) in February. At 5pm, the local unit was...

Sapura Kencana’s share price rises with crude oil

Shares of SapuraKencana Petroleum Bhd rose as much as eight sen or 4% in tandem with crude oil price gains. SapuraKencana shares reached their highest so far today at RM2.17. At 3.35pm, the...

China telecom giant ZTE faces US ‘restrictions’

Chinese telecommunications equipment giant ZTE said today that it is facing US government restrictions, after a media report that the company allegedly violated US export controls on Iran. In...

China’s forex fall slows in February, says central bank

The decline in China's foreign exchange reserves slowed last month, the central bank said today, an unexpected spot of good news for policymakers in Beijing facing a flood of cash leaving the...

Old Mutual considering all options under strategic review

Old Mutual, an Anglo-South African financial services company, said today it was considering all options available to it under the strategic review announced in November. The company said it...

Chief of Russia’s biggest carmaker Avtovaz to step down

Russia's biggest carmaker Avtovaz, majority owned by Renault-Nissan, said today its chief executive Bo Andersson is to step down. Hit hard by Russia's economic crisis, the company, which makes...

Colombia’s Ecopetrol reports 2015 losses of US$1.2 billion

Colombian state-run oil concern Ecopetrol has reported losses of US$1.23 billion (RM5.03 billion) in 2015, driven largely by low crude prices on the international market. Ecopetrol said in a...

Tokyo stocks fall on profit-taking, stronger yen

Tokyo stocks fell today, slipping for the first session in five as a stronger yen weighed on exporters and investors turned to profit-taking following recent gains. The retreat came despite an...

Petronas’ first LNG facility to produce 1.2 million tonnes per year

Petroliam Nasional Bhd’s first floating liquefied natural gas (LNG) facility, which is expected to be operational in the second quarter this year, will have the capacity to produce 1.2 million...

Bursa Malaysia issues UMA query to Len Cheong Holdings

Bursa Malaysia Securities Bhd has issued an Unusual Market Activity (UMA) query to Len Cheong Holdings Bhd on the sharp rise in price and high volume today. In a statement today, the bourse...

KLCI defends 1,700 despite intermittent profit taking

The FBM KLCI defended its 1,700-psychologically crucial level at the midday break today, despite some intermittent profit taking in the morning session. At 12.30pm, the FBM KLCI was up 11.58...

Ringgit opens higher against US dollar

The ringgit opened higher against the US dollar on fresh buying interest for the local note. At 9.09am, the local unit was quoted at 4.0790/0850 per US dollar versus 4.1175/1225 at 5 pm last...

OSIM’s chairman plans to take over company

The founder of Singaporean massage chair maker OSIM International today offered to pay more than S$300 million (RM890 million) to buy out minority shareholders in the company, taking advantage of...

KLCI moves above 1,700-level

The FBM KLCI moved passed the psychologically crucial 1,700-point level at mid-morning today in line with the firm gains at most regional markets. At 10am, the FBM KLCI rose 16.20 points to...

Asian shares hit 2-month high on US job growth

Asian shares hit two-month highs today, extending their sharp gains in the previous four sessions, following upbeat US jobs data and rebound in oil commodity prices. Investors also look to...