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PROTON’S immediate plan would be to change its strategy from being a maker of cheap cars to a world-standard car manufacturer, said newly-appointed chairman Tun Dr Mahathir Mohamad.
LABUAN: The abandoned RM3 billion petroleum integrated oil refinery project under the Economic Transformation Programme (ETP) off Pulau Daat, here, will be revived to cater for the growing demand regionally.
BANGKOK: Thai telecoms group True Corp is to offer an 18 per cent stake to China Mobile via a private placement as part of its plans to take on a foreign partner to help with regional expansion, said a source with knowlegde of the deal. True, majority-owned by billionaire Dhanin Chearavanont’s Charoen Pokphand Group, also plans to offer new shares via a rights issue on the basis of seven new shares for 10 existing ones, the source said. “The plans are subject to board approval.” True shares were suspended yesterday pending an announcement. Reuters
JAKARTA: Lotte Shopping Co, South Korea’s largest department store operator, plans to open four shopping malls in Indonesia by 2018 to tap growing consumer spending in a nation where half the population is younger than 30. PT Lotte Shopping Avenue Indonesia will build two here in the next three years, with the others in the country’s second-biggest city, Surabaya, and in Medan on Sumatra, said its president director Suh Chang Suk. There is a lot more potential for malls in the world’s fourth-largest population, Suk said. Bloomberg
LONDON: The International Monetary Fund (IMF) underestimated the strength of the United Kingdom economy when warning against the government’s austerity programme, said its managing director Christine Lagarde. “We got it wrong,” Lagarde said on “Andrew Marr Show” on Sunday. A year after the IMF’s chief economist, Oliver Blanchard, said UK budget cutting risked “playing with fire”, the Washington-based lender said in April the UK economy will grow 2.9 per cent this year, the fastest pace among the Group of Seven nations. Bloomberg
THE FTSE Bursa Malaysia KLCI (FBM KLCI) ended on a high note yesterday on the back of the government’s expressed commitment to further liberalise the economy.
KUALA LUMPUR: Politicians remained guarded over the setting up of the Johor Housing and Property Board today, with most stating they would need to study the contents of the enactment first.
HONG KONG: Asian markets mostly rose yesterday, buoyed by another record close on Wall Street in response to an impressive US jobs report, an upward revision of Japanese economic growth and healthy Chinese export figures.
LONDON: Europe’s main stock markets traded narrowly mixed yesterday, supported by solid Chinese and US economic data following last week’s shake up to eurozone interest rates, traders said.
SHARES snapped a three-day losing streak, climbing 0.73 per cent yesterday, after Wall Street hit new records in response to solid United States jobs data last week while dealers also welcomed upbeat economic figures from China and Japan.
THE Straits Times Index gained 5.77 points, or 0.17 per cent, to close at 3,305.20 yesterday.
BAGHDAD: Iraqi officials say truck bombs have targeted the offices of two Kurdish political parties north of Baghdad, killing 15 people.
ASHGABAT (Turkmenistan): Prime Minister Datuk Seri Najib Razak and wife Datin Seri Rosmah Mansor today arrived in the capital city of Turkmenistan for an official two-day visit to this Central Asian country.
KUALA LUMPUR: THE Health Ministry has warned that smoking illicit clove cigarettes, or kretek, is an offence for a number of reasons, besides being dangerous to one's health.
