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  • Traveloka said to be valued at US$2b after Expedia deal

    July 28, 2017 5:15 AM 3

    Traveloka App users get additional discounts for hotel stays that are exclusive to the app.JAKARTA, July 28 — Traveloka Holding Ltd raised US$400 million (RM1.7 billion) in a funding round led by Expedia Inc that conferred a US$2 billion valuation on Indonesia’s largest online travel startup, a person familiar with the matter said. The person asked not to be identified

  • TNB shares on downtrend after Q3 net profit fell

    July 28, 2017 2:43 AM 2

    PETALING JAYA: Tenaga Nasional Bhd’s (TNB) share price fell 0.28% this morning after its net profit for the third quarter ended May 31, 2017 dropped 15% to RM1.96 billion from RM2.31 billion a year ago due to higher deferred taxation expense. As at 10.31am, TNB’s share price stood at RM14.20 with 1.1 million shares changing hands. It has a market capitalisation

  • Pavilion REIT buys Elite Pavilion Mall and assets for RM580mil

    July 28, 2017 1:54 AM 3

    KUALA LUMPUR: Pavilion Real Estate Investment Trust (Pavilion REIT) has acquired Elite Pavilion Mall and its related assets from Urusharta Cemerlang (KL) (UCKL) Sdn Bhd and Urusharta Cemerlang Sdn Bhd (UCSB) for RM580mil. In a filing to Bursa Malaysia, Pavilion REIT said it had signed a conditional sale and purchase (S&P) agreement with UCKL for the acquisition

  • US likely to approve Fiat Chrysler's 2017 diesels: sources

    July 27, 2017 10:05 PM 4

    WASHINGTON: U.S. and California regulators are expected to approve Fiat Chrysler Automobiles’ request to sell 2017 diesel vehicles, two sources said on Thursday – a move that may help the Italian-American automaker win approval for a software fix for older diesel models. The software upgrade does not affect performance or durability and could be announced

  • Gundlach's DoubleLine purchased five-month put options on S&P 500

    July 27, 2017 8:05 PM 4

    NEW YORK: Jeffrey Gundlach's DoubleLine Capital purchased some five-month put options on the Standard & Poor's 500 Index a couple days ago as the CBOE Volatility Index fell to its lowest since December 1993. "We lost money the first day we put on the trade, but now we are doing great. This is like free money," Gundlach, who is known on Wall Street as the Bond King, said in a telephone

  • US regulators to approve fix for more than 300,000 VW diesels: sources

    July 27, 2017 3:05 PM 7

    WASHINGTON: The U.S. Environmental Protection Agency and California Air Resources Board will approve later on Thursday a fix for more than 300,000 older Volkswagen AG diesel cars, two people briefed on the matter said. The fix will include hardware and software upgrades, but will reduce vehicle fuel economy ratings by as much as 2 miles per gallon, said the persons

  • Thailand's PTTEP takes US$500m stake in Petronas LNG project

    July 27, 2017 2:42 PM 6

    BANGKOK: PTTEP, the exploration and production arm of Thailand’s oil and gas giant PTT Group, said yesterday it has taken a US$500 million (RM2.14 billion) stake in a liquefied natural gas (LNG) project with Malaysia’s Petroliam Nasional Bhd (Petronas). Announcing second-quarter results – which were roughly in line with analysts’ expectations – PTTEP

  • Malaysia legalises e-hailing services as Grab, Uber compete

    July 27, 2017 12:45 PM 9

    KUALA LUMPUR: Malaysia's parliament on July 27 passed two bills that will legalise e-hailing services, as ride-hailing firms Grab and Uber Technologies Inc race to expand in the region. Grab expects to raise US$2.5bil (RM10.69bil) from investors in a bid to extend its lead over Uber in the region, as major companies aim to tap into South-East Asia's

  • Petronas sells stake in LNG 9 for RM2.14b to Thai oil company JV

    July 27, 2017 8:40 AM 7

    KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has disposed of a 10% stake in Petronas LNG 9 Sdn Bhd (PL9SB) in Malaysia for US$500mil (RM2.14bil) to Thailand's national company and partner. According to a statement by Thailand's PTT Exploration and Production Public Company Ltd (PTTEP) to the Thailand Stock Exchange on Thursday, it said that its subsidiary's

  • Amazon pushes into Southeast Asia with Singapore launch

    July 27, 2017 5:00 AM 7

    SINGAPORE: Amazon launched its express delivery service in Singapore on Thursday, the US online retail giant’s first foray into Southeast Asia and a move that puts it in direct competition with China’s Alibaba. Prime Now allows online shoppers in the affluent city-state of five million people to order a wide range of items from baby products to food, electronics