Business - The Malaysian Insider

Oil rises as US producers cut rig count

Oil prices opened strongly today after rallying in the previous session, as tightening supplies supported the market and sentiment around a market recovery strengthened. Front-month Brent crude...

China ‘absolutely’ will not have hard landing

China's economy "absolutely will not" suffer a hard landing, the chief of its top planning body said today, as Beijing's leaders try to reassure global investors about the world's second-largest...

KLCI set to open higher, cross 1,700-level

The FBM KLCI is set to open higher today in line with the weekly gains posted at most global markets last Friday and cross its 1,700-point psychological level. A gauge of stock markets...

Commerzbank names retail division chief as new CEO

Commerzbank, Germany's second biggest bank, said today it would appoint retail division chief Martin Zielke as its new CEO, to replace Martin Blessing on May 1. Zielke, 53, is the board member...

China Pavillion opens doors for bigger export

The China Export Pavilion (CEP) showcased at the ongoing 12th Export Furniture Exhibition Malaysia (EFEM) 2016 helps open new business opportunities in the export sector, Transport Minister Datuk...

Egypt central bank to hold exceptional US$500 million FX auction today

Egypt's central bank said it would hold an exceptional auction today for US$500 million (RM2.03 billion) to cover imports of strategic goods, pumping more foreign exchange into an economy that...

Daimler CEO says digital mapping consortium in expansion talks

Daimler's Chief Executive told Reuters that a German auto maker consortium which controls the HERE digital mapping business is in talks with potential new members. In August last year, German...

China’s Guangdong sees GDP growth of 7-7.5% in 2016

China's southern Guangdong province expects economic growth of between 7-7.5% in 2016, said Hu Chunhua, the Communist Party boss of the economic and export powerhouse. "Guangdong is like the...

Carry trades at heart of China capital outflows, says BIS

Heavy outflows of capital from China have mainly been a result of the unwinding of carry trades aimed at benefiting from rising interest rates and an appreciating yuan, the Bank of International...

Chinese stocks tumble to 15-month low as stimulus bets unwind

Chinese stocks fell, with the benchmark index approaching the lowest level since November 2014, as some investors were disappointed by a lack of specific measures to boost growth during the Group...

4 more foreign banks get Myanmar licence

Four more foreign banks have been given preliminary approval to operate in Myanmar, state media reported today, the latest government attempt to attract overseas investment to the emergent...

Malaysia, Saudi Arabia relationship at highest level, says Najib

Prime Minister Datuk Seri Najib Razak hopes that more Malaysian companies will be given opportunities to compete for infrastructure projects in Saudi Arabia. "The relationships between Malaysia...

Matrade to lead specialised marketing mission to London

The Malaysia External Trade Development Corp (Matrade) will lead a delegation of 15 Malaysian companies involved in construction, building materials and information communication technology (ICT)...

Moody’s cuts outlook for 4 Gulf states, lowers Bahrain to junk

Moody's Investors Service has cut its outlook for the debt ratings of Saudi Arabia and three other Gulf states while lowering Bahrain's rating to junk, citing concern over the impact of low oil...

Facts on China’s 2016-2020 growth plan

China on Saturday published the draft of its 13th five-year plan, a blueprint for economic and social development over the 2016-2020 period. Such plans are a legacy of China's command economy...

Myanmar grants operating licences to 4 more Asian banks

Myanmar has granted operating licences to four Asian banks, bringing to 13 the number of foreign banks allowed to conduct business in the previously isolated country. Bank for Investment and...

US Commerce Department launches trade probe into stainless steel from China

The US Commerce Department said on Friday it had launched an anti-dumping and countervailing duty investigation into imports of stainless steel sheets and strips from China. The probe was in...

China sets 2016 growth target at 6.5%-7%

China on Saturday cut its growth target for this year to a range of 6.5% to 7%, the text of a speech to be delivered by Premier Li Keqiang showed. Among the "main development targets" for the...

Ringgit likely to strengthen further next week

The ringgit is expected to strengthen further next week on expectations of higher global crude oil prices and improved risk appetite for the local note, dealers said. A dealer said if oil...

UK lawmakers say Facebook may have broken tax rules

Facebook said it would ditch a corporate structure that helps minimise its UK tax bill, prompting lawmakers and campaigners to ask whether the arrangement had ever complied with UK tax...