Sat, 10 Dec 2016 11:19:01 +08:00KUALA LUMPUR: The ringgit will likely trade higher versus the US dollar next week, boosted by Bank Negara Malaysia's measures to support the local currency, an analyst said.For the week just ended, the ringgit was traded higher at 4.4215/4255 against the greenback from 4.4500/4550 last Friday.
Sat, 10 Dec 2016 11:10:11 +08:00KUALA LUMPUR: Bursa Malaysia is likely to trend higher next week on the back of better sentiment brought by the strong performance of Wall Street, which had a spillover effect on its Asian counterparts.Affin Hwang Investment Bank Vice President/Head of Retail Research, Datuk Dr Nazri Khan Adam Khan, said Saturday other than the US reaching record highs, the European Central Bank is also set to liquidate the market with a quantative easing bond buying programme for 2017.
Sat, 10 Dec 2016 07:03:34 +08:00VIENNA: Saudi Arabia has told its U.S. and European customers it will reduce oil deliveries from January, as Russia said it was confident non-OPEC producers would fully join OPEC's output limits on Saturday in the first such move since 2001.OPEC sources said nine non-OPEC countries were set to join the meeting: Azerbaijan, Kazakhstan, Oman, Mexico, Russia, Sudan, South Sudan, Bahrain and Malaysia. Bolivia may also attend the talks, according to an OPEC source.
Sat, 10 Dec 2016 06:55:46 +08:00NEW YORK: Oil prices rose about 1 percent on Friday on hopes that non-OPEC producers meeting in Vienna over the weekend would agree to output restrictions following limits OPEC announced last week to curb an oil glut.U.S. crude's West Texas Intermediate futures ended the session at $51.50 a barrel, up 66 cents or 1.30 percent, after trading narrowly between $50.86 and $51.66. Brent crude closed up 44 cents, or 0.82 percent, at $54.33 per barrel after dealing between $53.77 and $54.46
Sat, 10 Dec 2016 06:48:45 +08:00NEW YORK: Next week's Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month's presidential election.While investors have long anticipated the Fed will raise rates at the Dec. 13-14 meeting - in what would be its first such move in a year and second in nearly a decade - the worry for some stock investors is that the Fed takes a more aggressive stance on inflation and future hikes.
Sat, 10 Dec 2016 06:43:01 +08:00NEW YORK: U.S. stocks closed higher on Friday as more investors piled in on the presidential election rally while the euro continued to weaken after the European Central Bank’s decision a day earlier to extend economic stimulus.The Dow Jones industrial average closed up 142.04 points, or 0.72 percent, to 19,756.85, the S&P 500 had gained 13.34 points, or 0.59 percent, to 2,259.53 and the Nasdaq Composite had added 27.14 points, or 0.5 percent, to 5,444.50. The euro fell for the second day after the ECB news gave the euro zone common currency its biggest daily loss against the dollar on Thursday since Britain's June vote to leave the European Union.
Sat, 10 Dec 2016 04:29:10 +08:00LONDON: Sky has received a takeover approach from 21st Century Fox, it said Friday, as Rupert Murdoch makes a second tilt at the European pay-TV broadcaster to create a global media giant. The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York. - Reuters pic
Sat, 10 Dec 2016 04:01:53 +08:00KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) has extended the offer period for MP Evans Group PLC shares to Dec 21 but presses on with its existing offer price despite having received valid acceptances representing only 12.9% of the London-listed plantation firm's existing share capital as of the first closing date. The MP Evans group has a majority interest in 21,600 planted hectares and a minority interest in 22,000 planted hectares of oil palm plantations in Indonesia.
Sat, 10 Dec 2016 00:00:00 +08:00Comment - By Wong Chun Wai
Sat, 10 Dec 2016 00:00:00 +08:00TO survive in 2017, when growth is slowing, interest rates are rising and capital is flowing out, emerging market economies have to be productive and of high value.Good value: Van Ark says creating value through qualitative growth will overcome the pressures from a weak labour supply and talent shortages.