Banks raise rates
KUALA LUMPUR: Banks have begun raising their base lending rates (BLRs) following Bank Negara’s move to lift the overnight policy rate (OPR) by 25 basis points last week.
Shell, PetroChina offer 3 billion US dollar for Arrow
PERTH: Royal Dutch Shell and PetroChina made a joint bid for Australia’s Arrow Energy in a deal worth at least 3 billion US dollar, marking a Chinese firm’s first foray in the country’s burgeoning coal seam gas sector.
Arrow said yesterday that the non-binding, conditional bid from a company jointly owned by Shell and PetroChina would give shareholders A$4.45 in cash per share, plus a share in a new entity comprised of Arrow’s international business.
YTL Corp unit to acquire Japanese resort for RM222mil
PETALING JAYA: YTL Corp Bhd’s wholly-owned subsidiary YTL Hotels & Properties Sdn Bhd has entered into an agreement to purchase a Japanese village resort for 6 billion yen (about RM222mil).
MISC starts new Singapore-Bangkok weekly shipping service
KUALA LUMPUR - MISC Bhd has introduced a direct weekly liner shipping service, Siam Singapore Shuttle Service, between the port of Bangkok and Singapore.
The direct container service made its maiden voyage on Tuesday from Singapore, a statement from MISC said here today.
Malaysia can adopt airportcities concept at schiphol airport in Amsterdam
AMSTERDAM - Malaysia can adopt the "AirportCities" concept developed by the Schiphol Group, operator of the Schiphol International Airport, here, at the Kuala Lumpur International Airport (KLIA) in Sepang, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
They have a very comprehensive business model that can provide jobs to some 70,000 people.
Petronas in upstream gas deal
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) yesterday signed a gas sales agreement with upstream contractors Sarawak Shell Bhd and Petronas Carigali Sdn Bhd for the natural gas to be produced from three fields in Block SK308 offshore Sarawak.
Chips are down for US casinos
WASHINGTON: US casinos have run into a string of bad luck as the recession and other factors cut into gambling revenues, even as more states move to get a piece of the action.
Japan PM says wants Toyota to work to improve trust
TOKYO - Japanese Prime Minister Yukio Hatoyama said after meeting the head of Toyota Motor Corp (7203.T) on Monday he wanted the company to work to improve the trust that people have in it.
Bosses at British banks shun bonuses
LONDON: Faced with public outrage over excessive bankers’ pay, the bosses of Britain’s five biggest banks have taken the unprecedented step of spurning bonuses worth millions of pounds.
As the dust settles on the annual results season, analysts said the sector was keen to fix its battered reputation after being accused of helping to spark the global financial crisis that dragged the world into a painful recession.
US29 billion worth of gold traded in Dubai last year
DUBAI - The total gold trade through Dubai stood at US$29 billion in 2009, matching the value of gold traded in 2008, according to official figures.
The Dubai Multi Commodities Centre Authority (DMCCA) said a total of 576 tonnes of gold was imported into Dubai last year compared with 674 tonnes in 2008.
In the same year, gold exports from Dubai increased nine per cent to 403 tonnes compared with 371 tonnes in 2008.
