Mon12222014

LAST_UPDATEMon, 22 Dec 2014 4pm

Xiaomi Eyes More Than US$1b In Funding

Pic: en.miui.comBEIJING: China’s top smartphone seller Xiaomi Corp is raising more than US$1 billion (RM3.49 billion) in a fresh round of funding, a move which would raise its valuation above US$45 billion, a report said yesterday.

Read more: Xiaomi Eyes More Than US$1b In Funding

Dalian Wanda Chairman Set To Be China’s Richest Man Again

Pic: AFPBEIJING: Property billionaire Wang Jianlin rose from a local government bureaucrat to China’s richest man by transforming a debt-laden house-builder into the sprawling Wanda Group, and the flotation of one of its subsidiaries this week will propel him back up the table of fortune.

Read more: Dalian Wanda Chairman Set To Be China’s Richest Man Again

Call To Use More Yuan In Face Of Falling Rouble

Pic: ReutersBEIJING: China’s trade minister proposed more use of China’s currency in settling trade with Russia in the face of a falling rouble to ensure safe and reliable trade, Hong Kong broadcaster Phoenix TV reported on Saturday.

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S&P: Stable Bank Prospects Despite China Slowdown

Pic: NSTSTANDARD and Poor’s (S&P) expects the top 41 banks in the Asia-Pacific region, including three Malaysian banks, to enjoy stable prospects next year even as the slowdown in China remains a hot spot.

Read more: S&P: Stable Bank Prospects Despite China Slowdown

Rupiah To Play Key Role In Electricity ‘Adjustment Tariff’

Reuters picJAKARTA: The Indonesian government plans to impose an “adjustment tariff” for electricity in January next year, in an effort to eliminate the subsidy for middle- to upper-income classes and medium- to large-scale businesses, a top official at the Energy and Mineral Resources Ministry said last Friday.

Read more: Rupiah To Play Key Role In Electricity ‘Adjustment Tariff’

Tribunal Rules Against Bank Century Owner

Pic: NSTAN INTERNATIONAL tribunal ruled in favour of the government of Indonesia in a case involving the controlled takeover of Bank Century from Saudi businessman Hesham Al Warraq, a law firm representing Indonesia said in a statement on Thursday.

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SME Sector Bullish On Next Year Despite Gloomy Outlook

Reuters picKUALA LUMPUR — Malaysian small and medium enterprises (SMEs) remain positive on the industry’s outlook next year despite external and internal challenges, aided by the government’s continuous support, says the SME Association of Malaysia.

Read more: SME Sector Bullish On Next Year Despite Gloomy Outlook

UBS: Fiscal Deficit Goal Reachable

Pic: www.onestopbrokers.comKUALA LUMPUR: Malaysia is expected to meet its fiscal deficit target of 3% of gross domestic product (GDP) in 2015 if oil prices average US$70 to US$75 per barrel, said UBS, as it forecasts the brent oil price to average US$70 per barrel in 2015 and US$80 per barrel in 2016.

Read more: UBS: Fiscal Deficit Goal Reachable

Economic Stimulus

Pic: NST2015 TARGET: Government may initiate measures to improve revenue, optimise expenditure

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Malaysian Auto Sector Likely To Slow Down In Q1 2015 Despite New Models

Photo: TMMOKUALA LUMPUR — Automotive players are expected to introduce new and enhanced versions of existing models next year, including energy-efficient vehicles (EEVs) at very competitive prices.

Read more: Malaysian Auto Sector Likely To Slow Down In Q1 2015 Despite New Models