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  • Under deal, Iran’s oil exports likely to rise from recent depressed level

    November 25, 2013 2:30 AM 43

    Key economic events for the week of Nov. 25 U.S. sanctions require that nations buying crude from Iran show “significant reductions” in those purchases, a central part of the strategy of squeezing Iran, which in 2012 relied on oil sales for 80 percent of its export earnings and more than half of its government revenue. That oil export revenue fell by about

  • Ex-Election Commission chief joins Perkasa, says goal is to help Malays retain power

    November 25, 2013 1:28 AM 76

    Ex-Election Commission chairman chairman Tan Sri Abdul Rashid Abdul Rahman has joined Malay right-wing group Perkasa, helmed by Datuk Ibrahim Ali (with a keris). – The Malaysian Insider file pic, November 25, 2013.It must have been one of Kuala Lumpur’s best kept secrets. Long seen as cosmopolitan and suave, former Election Commission (EC) chairman Tan Sri Abdul

  • Friday and Saturday are weekend rest days for Johor from Jan 1

    November 23, 2013 6:24 AM 41

    MUAR (THE STAR/ASIA NEWS NETWORK) - Johor's Sultan Ibrahim Ibni Almarhum Sultan Iskandar has declared the change of the state's rest days to Friday and Saturday instead of Saturday and Sunday from next year. The much anticipated decision was announced during the investiture ceremony on Saturday in conjunction with his 55th birthday . In his speech, the Sultan

  • Guinness Anchor expects better FY14 results

    November 22, 2013 12:31 AM 116

    SUBANG JAYA (Nov 22, 2013): Guinness Anchor Bhd (GAB) expects to better its performance in the current financial year ending June 30, 2014 (FY14) in an improved economic climate where Malaysia's economy is predicted to grow at a faster pace of 5%-5.5% in 2014. This is despite posting softer earnings during the first quarter ended Sept 30, 2013 (Q1FY14). "The soft market

  • Concord Energy plans to build oil terminal near Singapore

    November 21, 2013 6:17 AM 48

    Singapore-based oil trader Concord Energy said today it aimed to build an oil storage terminal with capacity of up to 2 million cubic metres in southern Malaysia, close to Asia's largest oil trading hub. Concord signed a pact with Malaysian technical services provider Dialog Group Berhad for a feasibility study to build the terminal at Pengerang, a seaside

  • M'sia records RM46.4 bil tourism revenue from Jan to Sept

    November 21, 2013 6:04 AM 46

    KUCHING (Nov 21, 2013): Malaysia's revenue from tourism rose 9.6% in the first nine months of this year with RM46.4 billion collected, compared to RM42.4 billion for the same period of 2012. Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz said 18.8 million tourists arrived in the country between January and September against the 18.2 million

  • Putrajaya scraps proposal for 12-year cap on lifespan of cars

    November 21, 2013 3:57 AM 47

    Car owners can heave a sigh of relief as the government has decided not to go ahead with proposed cap on the lifespan of cars. - The Malaysian Insider pic, November 21, 2013.Putrajaya has pulled the brakes on a plan to impose a 12-year cap on the lifespan of cars after facing objections from the opposition and car owners. Deputy Transport Minister Datuk

  • No comfort at home for AirAsia as overseas units drag

    November 21, 2013 12:06 AM 50

    KUALA LUMPUR (Reuters) - Malaysia's AirAsia Bhd (AIRA.KL) will take up to two years to realise a profit from its Indonesia and Philippine units, income that would help prop up eroding margins as Asia's largest budget carrier wages a price war at home. AirAsia, which has dominated budget air travel in Asia with explosive growth, is now struggling to boost

  • AirAsia Q3 net profit falls 77.52% on forex losses

    November 20, 2013 9:43 PM 46

    PETALING JAYA (Nov 21, 2013): AirAsia Bhd's net profit for the third quarter ended Sept 30, 2013 (Q3FY13) fell 77.52% to RM35.48 million from RM157.81 million a year ago, due to foreign exchange losses of RM185.89 million. Its Q3FY13 revenue however improved by 3.5% to RM1.28 billion from RM1.24 billion a year ago due to higher passenger volume which

  • Penan blockade continues, despite arrests 19 November 2013

    November 19, 2013 11:00 AM 54

    The Penan tribe’s blockade of the Murum dam is still continuing, despite the arrest of ten Penan, including two children, on November 7th. The Penan, in the Malaysian state of Sarawak, have been blockading the Murum dam site since September, demanding better compensation and more land. The dam will flood the traditional forest homes of Penan and Kenyah