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  • MyScreen launches social media broadcast platform; invests RM8mil for studio

    KUALA LUMPUR, Nov 21– MyScreen Malaysia Sdn Bhd today officially launched the country’s first social media broadcast platform, which offers ‘live streaming’ functionality. Its CEO, Shazwan Mohammad said visitors to the MyScreen website would find a responsible and reliable Malaysian broadcast channel, similar to YouTube, which provides news as well as nurtu [...]

  • AirAsia to launch Southeast Asian air pass

    KUALA LUMPUR, Nov 21— Budget carrier AirAsia will launch a regional air pass next year to increase revenue and boost tourism in Southeast Asia, taking competition in low-cost air travel to a more intense level. Chief Executive Tan Sri Tony Fernandes said the AirAsia ASEAN Pass will allow travelers to fly to 10 different destinations in Southeast Asia in [...]

  • US Senate rejects Canada-Texas oil pipeline

    WASHINGTON (AP) — The Democratic-controlled Senate rejected legislation Tuesday aimed at forcing completion of a Canada-to Texas oil pipeline, a massive project at the center of a fierce environmental dispute. Republicans, fresh from sweeping midterm election victories, vowed resurrect the controversial issue next year, when they will control both chambers of the new Congress that takes office [...]

  • Japan in recession as economy contracts 1.6 pct

    TOKYO (AP) — Japan’s economy contracted in July-September according to preliminary data released Monday, returning the country to recession and clouding the outlook for the global recovery. The 1.6 percent drop in annual growth for the world’s third-biggest economy was much lower than expected. It raises the likelihood that Prime Minister Shinzo Abe will delay [...]

  • Australia, China poised to sign free-trade deal

    CANBERRA, Australia (AP) — Australia on Monday successfully completed negotiations after nine years with its biggest trading partner China on a free-trade deal, the prime minister said. Chinese President Xi Jinping will sign the deal later Monday after he addresses the Australian Parliament. Prime Minister Tony Abbott said in a statement he would soon make [...]

  • Comcast CEO: Full steam ahead on Time Warner deal

    SAN FRANCISCO (AP) — Comcast CEO Brian Roberts is moving “full steam ahead” with the company’s proposed $45 billion acquisition of Time Warner Cable despite the uncertainty raised by President Barack Obama’s call for tougher regulations on high-speed Internet service providers. As part of its commitment to getting the Time Warner deal done, Roberts said [...]

  • BMW Group optimistic of higher sales with new Mini 5-door

    KUALA LUMPUR, Nov 12– BMW Group Malaysia, which unveiled its new Mini Cooper S five-door today, is confident of higher sales volume as the new model has been generating much interest prior to its launch. Managing Director Alan Harris said the new model has attracted huge interest from customers. “We have some orders in the bank. I [...]

  • Petronas to acquire remaining Melaka refinery stake for RM2.12bil

    KUALA LUMPUR, Nov 12–Petroliam Nasional Berhad (Petronas) will purchase Phillips 66 Ltd’s 47 per cent interest in Malaysian Refining Co Sdn Bhd (MRC) which is based in Melaka. In a statement, Petronas said the move will see the national oil corporation raise its stake to 100 per cent on completion of the acquisition. Phillips 66 [...]

  • Naza-Brabus invests RM8mil to build new centres in Glenmarie

    SHAH ALAM, Nov 11–Naza-Brabus Motors Sdn Bhd, a subsidiary of Naza Group of Companies, intends to stamp its mark in the local automotive scene with the launch of a Showroom and Performance Centre in Glenmarie here, built with an investment of RM8 million. The Showroom and Performance Centre will act as a one-stop centre for [...]

  • Najib: TPP negotiations to enter final phase early next year

    BEIJING, Nov 11 — Prime Minister Datuk Seri Najib Tun Razak said that all 12 countries involved in the Trans-Pacific Partnership (TPP) have agreed for the final round of negotiations to be held early next year. Leaders involved in the TPP negotiations, being held on the sidelines of the ongoing Asia-Pacific Economic Cooperation summit in Beijing, however, agreed that [...]

  • Aircel-Maxis case: M’sian tycoon, Maran brothers summoned to court

    NEW DELHI, Oct 30–Malaysian tycoon, T Ananda Krishnan is one of seven people, including former Indian telecom minister Dayanidhi Maran, who were summoned by the country’s special 2G court in connection with the Aircel-Maxis deal, the reported. Special CBI Judge O.P. Saini took cognisance of the CBI’s charge sheet filed against the eight accused [...]

  • Venezuela ordered to pay $1.6 billion to Exxon

    WASHINGTON (AP) — An international arbitration panel ordered Venezuela’s socialist government on Thursday to pay $1.6 billion to Exxon Mobil for the seizure of a major oil project in the South American country and other losses. It is the largest award yet in a backlog of costly complaints against Venezuela over a wave of nationalizations [...]

  • India, China leaders to discuss trade, investment

    NEW DELHI (AP) — Chinese President Xi Jinping vowed to bring prosperity to Asia and create opportunities for the world as he and India’s Prime Minister Narendra Modi began talks Thursday to deepen cooperation through investment and trade. Xi said India and China as the world’s largest developing countries and emerging markets shared a relationship of [...]

  • Sony forecasts US$2bil loss, cites weak mobile

    TOKYO (AP) — Sony expects its annual loss to swell to more than $2 billion after writing down the value of its troubled mobile business as phone sales sagged amid brutal competition. The Japanese electronics and entertainment conglomerate said Wednesday it anticipates a net loss of 230 billion yen ($2.15 billion) for the fiscal year [...]

  • APU-ABNxcess sign MOU to bridge industrial needs

    KUALA LUMPUR, Sept 5–Asia-Pacific University of Technology and Innovation, Malaysia (APU) and Asian Broadcasting Network (M) Sdn Bhd today signed a Memorandum of Understanding (MoU) to furnish the broadcasting and media industry with skilled and market-ready workforce. The main objective of the MoU will be to promote interaction between APU and ABNxcess in mutually beneficial [...]

  • Companies reminded to register for GST scheme before year-end: Ahmad Maslan

    SHAH ALAM, Sept 3–The Finance Ministry today advised companies which had yet to register for the Goods and Services Tax (GST) scheme to do so fast as the government would not postpone its implementation next April. Deputy Finance Minister Datuk Ahmad Maslan said that only 24,429 of 123,000 companies had registered up to now. “We [...]

  • CIMB pre-tax profit falls to RM2.71bil

    KUALA LUMPUR, Aug 29– CIMB Group Holdings Bhd pre-tax profit for the first half ended June 30, 2014 declined to RM2.71 billion from RM3.1 billion in the same period of 2013. Revenue fell to RM6.94 billion from RM7.39 billion previously, CIMB said in a filing to Bursa Malaysia here today. Group chief executive, Datuk Seri Nazir Tun Razak, [...]

  • AirAsia X records strong revenue growth for 1H ’14

    SEPANG, August 19 – AirAsia X Berhad, the long-haul low-cost airline affiliate of the AirAsia Group today reported its financial results for the Second Quarter (“2Q14”) and the First Half-Year (“1H14”) ended 30 June 2014. On the back of its strategy of capacity and network expansion to strengthen its market leadership, the Company recorded revenue of [...]

  • AirAsia CEO denies rumours of possibility of taking up stakes in MAHB, MAS

    KUALA LUMPUR, Aug 14– AirAsia Group Chief Executive Officer Tan Sri Tony Fernandes (pic) has no intentions of taking up stakes in national carrier Malaysia Airlines and Malaysia Airports Holdings Berhad (MAHB). He dismissed such rumours saying he wants to make life easy for himself. “I want to make my life more simple. That is why [...]

  • MAS privatisation could be best option for restructuring

    KUALA LUMPUR, Aug 11 — The privatisation of Malaysia Airlines (MAS) could be the best available option for the national carrier to undergo a major restructuring and similar to what Japan Airlines underwent back in 2010. Kenanga Research said in a research note today that post-privatisation, MAS’ operations would likely remain ““business as usual”. However, the research firm anticipates [...]