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Daily News

 

Thursday
Oct092014

9 October 2014, Thursday

Airlines

Malaysia Airlines boosting efforts to recover from twin losses

Banks

CIMB, RHBCap and MBSB agree on merger deal

Capital markets

Shares in CIMB, RHBCap and MBSB suspended pending announcement

Nakamichi reprimanded; former director also fined RM1.4 million

Earnings

Lonpac Insurance contributes to strong performance of LPI Capital

Economy

Budget 2015: PM likely to press ahead with fiscal tightening

MARC expects key issues to be addressed

There needs to be radical reform to our tax policy

Life Insurance Association of Malaysia hopes for more incentives to encourage financial planning

Techpreneurs want incentives to reduce impact of costs with implementation of GST

Financial aid

Putrajaya overpaid on BR1M

Islamic finance

1MDB-Mitsui consortium relying on Sukuk to cover most of what's needed for Project 3B

Toll concessionaire Kesas plans RM735 million Sukuk

Management

SPAD chief development officer a candidate for top post at MRT Corp

Oil and gas

Oil production underway at Gumusut-Kakap field

Plantations

Sime Darby bids £1 billion for New Britain Palm Oil

Property

Ireka wins RM277 million contract from SP Setia unit

Publishing

Federal Court weighs constitutionality of state Shariah law to ban ‘religious’ publications deemed against Islam

Telecommunications

New line-up at P1

Transport

School bus fares to rise RM5-RM10 in January

ASIA

Economy

India looking to raise 50 billion rupees by selling stakes in companies

Real estate

More deals expected

AUSTRALIA

Aviation

Deep-sea search for missing MH370 moves further south

Banks

Bank of Queensland’s net profit up 40%

National Australia Bank forced to make another A$1 billion write-down on troubled UK operations

SINGAPORE

Telecommunications

Consistel keen to be fourth mobile network operator

UK

Employment

US citizen who worked in London half the time cannot bring claims for unfair dismissal or discrimination in UK

Insurance

Lloyd’s of London expects market for cyber insurance to surge

Telecommunications

Mobile operator Three fined £250,000

US

Maritime

Maersk Line, Mediterranean Shipping win US approval for planned vessel sharing pact

Real estate

Deutsche Bank preparing to sell US$2 billion portfolio of US commercial real estate loans

Technology

Google wants Supreme Court to intervene in Oracle’s Android copyright case

Security software maker Symantec exploring breakup

Wednesday
Oct082014

8 October 2014, Wednesday

Airlines

Q4 should bring positive news to carriers

Khazanah Nasional says reports of new MAS CEO speculative and premature

Autos

Road Transport Department asked to explain bidding process for special number plates

RTD director-general fuelling further doubt as to identity, origin of wealth of VIPs

Banks

RHBCap, MBSB agree to proposed merger with CIMB — subject to conditions

Bursa Malaysia committee to decide tomorrow on EPF voting rights in mega merger

Singaporean appointed CEO of Citibank

Capital markets

1MDB seeks January listing of power assets

Fund close to signing US$1 billion loan to refinance group debt

Competition

Undertakings from Giga Shipping and Nexus Mega Carriers accepted

Education

Fifth formers can enrol in private tertiary institutions with forecast SPM results

Islamic finance

Securities Commission issues Shariah parameters on Islamic ETFs based on gold and silver

Parameters

Legislation

Revised Inland Revenue Board of Malaysia (Amendment) Bill 2014 passed

Oil and gas

Sentiment on O&G stocks turns soft

Property

Developers focusing on landed and industrial properties in Iskandar Malaysia

Rehda calls for houses below RM500k to be exempted from GST

Axis REIT signs SPA with Yongnam Engineering for industrial land in Nusajaya, Johor

LHAG partner on why house buyers should resolve disputes with developers through tribunal [pp 70-71]

Telecommunications

Green Packet CFO is now its CEO

ASIA

Arbitration

Samsung files request for arbitration against Microsoft

Tobacco

Japan Tobacco closing some European manufacturing facilities

GLOBAL

Financial markets

18 banks agree to change protocols governing US$700 trillion derivatives market

Real estate

New York, London top cities for investment

SINGAPORE

Legal profession

Move to allow foreign judges to hear commercial cases may boost standing against Hong Kong

New Legal Services Regulatory Authority to regulate law firms and foreign lawyers

Real estate

Falling property prices provide much-needed relief for banking sector

UK

Construction

Record number of luxury homes being built set to outpace construction capacity in London

Financial services

Senior banker first person to plead guilty to criminal manipulation of Libor in Britain

HSBC directors quit because of new BoE regulations

Rabobank forex traders suspended after internal probe into currency trading practices

US

Aviation

Debate playing out over how best to respond to MH370 mystery

Intellectual property

Management guru, yoghurt producer Chobani in extended legal battle over use of ‘how’

Possible to develop trademark rights for particular connotation of a word in a specific context

Oil and gas

Occidental Petroleum looking to sell North Dakota oil assets for US$3 billion

Tuesday
Oct072014

7 October 2014, Tuesday

Airlines

Foreign CEO would be a first for Malaysia Airlines

German aviation veteran may be new CEO

Next phase in underwater search for MH370 underway

Best way of ensuring tragedy does not recur is to find plane, whatever the cost

Economy

PM likely to introduce additional deficit-slashing measures on Friday

What analysts expect

Income tax rates slashed when GST implemented in April

Islamic finance

Maybank Islamic expects another year of record growth

Legislation

Investment panel scrapped in revised Inland Revenue Board of Malaysia (Amendment) Bill 2014

PM should repeal colonial-era Sedition Act

New York Times editorial

Monarchy

Mammoth Forest City project a sign of increasing political and business influence of sultans

Property

GST will only have an impact of 0.5%-2% on housing prices

Prices in Iskandar Malaysia expected to stay weak and flat over medium term

Trade

Some of ministry’s conditions on distributive trade may deter foreign investment

Transport

School bus operators free to determine fares

Prices should not be left entirely to market forces to determine

Bombardier bullish on prospects in Malaysia

ASIA

Capital markets

Thailand’s Bangkok Airways launches US$600 million IPO

Economy

World Bank lowers forecasts for growth in developing East Asia this year and next

Motorcycling

Motorbike makers looking to build a new axis of growth in SE Asia

Technology

Smartphone maker Samsung loses ground to Apple and Chinese rivals

AUSTRALIA

Capital markets

Salmon farmer Huon Aquaculture aiming to raise A$133 million in sharemarket listing

Employment

Employer did all it could to accommodate worker’s medical concerns

Intellectual property

Difficulties of enforcing trademarks descriptive of trademark owner’s goods and/or services

CANADA

Competition

Samsung, Panasonic and Hitachi accused of colluding to fix prices for capacitors

Insurance

Manulife Financial to help develop 27-storey tower in Montreal

Oil and gas

Petronas could delay planned LNG plant if no favourable tax deal by end-October

EUROPE

Leisure

Ailing theme park operator Euro Disney gets €1 billion lifeline

Tax

Formal probe into Amazon’s Luxembourg deal

SINGAPORE

Banks

DBS chief sees need for stronger Asian voice in Basel committee

High-net-worth AUM up almost 30%

Dispute resolution

Singapore seen as threat to London’s pre-eminence in settling commercial court disputes

Retail

GIC sole owner of Italy’s RomaEst Shopping Centre

UK

Financial services

Bank of England proposing tougher protection for customers

Oil and gas

London-listed Dragon Oil plans £500 million bid for Petroceltic

Property

More than 500 homes at London’s Battersea Power Station to go on sale this month

Technology

London still has some way to go before it takes on Silicon Valley

US

Real estate

New York’s famed Waldorf-Astoria Hotel sold to China’s Anbang Insurance

Technology

Hewlett-Packard splitting into two listed companies

Merger between EMC and Hewlett-Packard Enterprise on the horizon

Dividing H-P and may create problems

Facebook closes acquisition of mobile messaging service WhatsApp

Friday
Oct032014

3 October 2014, Friday

Autos

Proton makes headway in EV plan

Aviation

MH370 could be found in days, if actually in Indian Ocean

AirAsia welcomes planned restructuring of rival Malaysia Airlines

Capital markets

MoF-controlled Bioalpha eyes listing on ACE Market

Prospectus

Owner of Muda Holdings selling his stake

Investment

Sumitomo invests in Sarawak

Sarawak top state for foreign capital in first five months

Legislation

Ministers not briefed on amendments to Inland Revenue Board of Malaysia Act 1995

Lawyers marching in rally against Sedition Act 1948 on 16 October

Property

IRIS’ pilot low-cost housing project could lift slum dwellers from poverty

Tropicana disposes of freehold land in Subang Jaya for RM37.5 million

Sport

Court of Arbitration for Sport throws out wushu champion’s appeal against doping failure

AUSTRALIA

Mergers and acquisitions

Five key lessons in the path to a successful break up

Property

Singapore-listed, Brunei-backed company snaps up city office owned by Victoria University

CANADA

Employment

Adding to employee’s workload may be constructive dismissal

Oil and gas

British Columbia ‘very confident’ Malaysia’s Petronas will move ahead with LNG project

EUROPE

Antitrust

Extensive probe into Zimmer’s US$13.4 billion bid for Biomet

Property

Germany’s IVG Immobilien seeks buyer for The Squaire

SINGAPORE

Insurance

New remuneration framework for agents from January 2016

Islamic finance

Lack of incentives among reasons for slow Sukuk issuance

UK

Accountancy

Deloittes not following KPMG in setting up UK law firm

Banks

Goldman Sachs hired to find buyers for RBS’s Coutts International

Capital markets

Virgin Money looking to raise £150 million from London listing

Mergers and acquisitions

Cereal maker Kellogg in talks with snacks maker United Biscuits

Property

334 sq ft studio flat on the market for nearly £1 million

Retail

Accounting scandal raises doubts over management and financial oversight at Tesco

Investing in Tesco a ‘huge mistake’, says Berkshire Hathaway boss

US

Commodities

Swiss trading house Mercuria close to acquiring parts of JPMorgan Chase’s unit

Financial markets

BlackRock’s iShares ETF possibly biggest beneficiary of last week’s Pimco selloff

Reaction to news of a job change by one man unprecedented

Thursday
Oct022014

2 October 2014, Thursday

Administrative law

Sabah church can initiate judicial review application over right to use ‘Allah’ in religious publications

Jill Ireland not getting CDs back on grounds of public interest

Airlines

Employees of restructured Malaysia Airlines need ‘mental recalibration’

Banks

Bank Negara Malaysia’s appeal against acquittal of former Sime Bank CEO to be heard in December

Overall asset quality of Malaysia Building Society still weak

Education

Universiti Malaya and Universiti Kebangsaan Malaysia did not submit data for annual rankings

Why UM and UKM did not participate

Fiscal policy

Fuel prices raised for first time in more than a year

Islamic finance

Bank Islam, Maybank IB and AIBIM hope for incentives under upcoming Budget 2015

Oil and gas

Tanjung Offshore seeks six-month extension of heads of agreement

Dynac calls off RM632 million proposed takeover of Goh Ban Huat

Plantations

Felda Global Ventures mum on bid for NBPOL stake after Sime Darby exit

Sport

Billionaire would not have invested in Cardiff City if he had foreseen problems

Tax

Corporate tax rate could be further cut in Budget 2015

Technology

Apple in good hands despite absence of Steve Jobs

Telecommunications

REDtone confident of recoverability of outstanding receivables in due course

ASIA

Banks

Maybank, UOB among nine foreign banks awarded limited licences in Myanmar

ANZ’s focusing on foreign MNCs and local financial institutions

Technology

‘Uber for Business’ now available in SE Asia

Telecommunications

Indonesia’s XL Axiata sells towers to Solusi Tunas Pratama to help cut mounting debt

AUSTRALIA

Competition

ACCC clears way for travel website Expedia to complete takeover of rival Wotif.com

Education

Eight Australian universities in top 200

Tax

SingTel denies claim it dodged more than A$700 million in taxes from 2004-13

Report

EUROPE

Autos

Manufacturers at Paris Motor Show turn to gadgetry, smartphone integration to woo consumers

Data protection

What constitutes personal data under European law

Islamic finance

Luxembourg first AAA-rated government to issue euro-denominated Sukuk

Cyprus potential ‘gateway to EU’ for Islamic investors

GLOBAL

Education

US, UK continue to dominate Times Higher Education World University Rankings

Rankings

Islamic finance

North Africa, Pakistan, Bangladesh and Indonesia could be new frontiers

SINGAPORE

Banks

Major breakthrough in OCBC, UOB push to cement foothold in Myanmar

Education

NTU, NUS continue upward climb

Gaming

Genting Singapore sixth most-shorted stock on benchmark Straits Times Index

Real estate

GIC to pay more than €200 million for 30% stake in Spain’s Gmp

Tort

Blumont launches libel suit against publisher and editor of The Edge Singapore

UK

Accountancy

Advising on M&A and company flotations boost EY’s revenues to £2 billion

Autos

Diverging fortunes of British and French car industries sharply mirror their national economies

Education

Universities of Reading, Dundee and Newcastle missing from top 200

Property

11-storey building at London’s Canary Wharf sold for £153.5 million

Retail

Financial Conduct Authority launches probe into accounting scandal at Tesco

US

Education

Caltech named world’s best institution for fourth straight year

Media

New York Times cutting 100 jobs in newsroom positions

Real estate

Developers looking to cash in on accelerating trend of car condos