Mon03022015

LAST_UPDATEMon, 02 Mar 2015 11am

Softbank Corp To Invest US$250 Million In Myteksi

MyTeksiKUALA LUMPUR-- SoftBank Corp is investing US$250 million in MyTeksi (Grabtaxi outside Malaysia), Southeast Asia's largest taxi booking mobile application.

Read more: Softbank Corp To Invest US$250 Million In Myteksi

Maybank IB Recommends 'Buy' On Pchem After 22 Per Cent Plunge

Maybank IBKUALA LUMPUR-- Maybank Investment Bank (IB) Research has upgraded its recommendation on Petronas Chemicals Group Bhd's (PChem) shares from 'hold' to 'buy', saying the recent selloff on the counter has moved the stock into value territory.

Read more: Maybank IB Recommends 'Buy' On Pchem After 22 Per Cent Plunge

More Companies To Invest In Hybrid Cloud Solution Next Year

Kevin WoKUALA LUMPUR- Malaysian companies will be investing in hybrid cloud solution rather than private or public cloud, as they believe it gives them an edge over competitors.

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S. Korea, Australia Set To Implement Bilateral Fta Next Week

Photo: www.maritime-executive.comA free trade agreement (FTA) between South Korea and Australia will go into effect next week, the South Korean government said Thursday, two days after the deal was ratified by the South Korean parliament.

Read more: S. Korea, Australia Set To Implement Bilateral Fta Next Week

Tumbling Oil Prices And Its Effects On Global Economy

Pic: Astro AWANITUMBLING oil prices are draining hundreds of billions of dollars from the coffers of oil-rich exporters and oil companies and injecting a much-needed boost for ailing economies in Europe and Japan — and for American consumers at the start of the peak shopping season.

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US Economic Resilience Cheers Asia But Euro Struggles

Bloomberg picTOKYO: Asian stocks rose today amid fresh signs of resilience in the US economy, while the euro wallowed near two-year lows before a much-anticipated meeting of the European Central Bank that could open the door to more stimulus.

Read more: US Economic Resilience Cheers Asia But Euro Struggles

GSK Cuts U.S. Sales And Research Jobs As Market Gets Tougher

Photo: ReutersGlaxoSmithKline (GSK.L) said on Wednesday it would shed "several hundred" U.S. commercial jobs and a similar number of research positions as it restructures operations in its biggest market, where drug sales are flagging.

Read more: GSK Cuts U.S. Sales And Research Jobs As Market Gets Tougher

‘Oil Prices Unlikely To Affect Fiscal Deficit’

Pic: NSTTHE current weak oil prices will not have an adverse effect on the country’s fiscal deficit as oil prices have been stable between January and November and the drop only happened over the past few weeks.

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Ringgit Weakens To Five-Year Low

Pic: NSTKUALA LUMPUR: The ringgit dipped to a five-year low yesterday, weighed down by a strengthening US dollar on stronger bond yields.

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HLISB Expects RM100m From New Remit Service

Pic: NSTKUALA LUMPUR: Hong Leong Islamic Bank Bhd (HLISB) is targeting its new service, dubbed eXPRE$$ REMIT, to chalk up RM100 million in transaction value by the end of next year.

Read more: HLISB Expects RM100m From New Remit Service