Tue05302017

LAST_UPDATETue, 30 May 2017 11am

Singapore's Central Bank Ends 1MDB Review, Penalizes Credit Suisse, UOB

Pic: Reuters

SINGAPORE: Singapore's central bank said on Tuesday that it has imposed financial penalties on Credit Suisse and United Overseas Bank after completing its two-year review of banks involved in 1MDB-related transactions.

Read more: Singapore's Central Bank Ends 1MDB Review, Penalizes Credit Suisse, UOB

British Airways Vows 'Never Again' After Costly IT Collapse

Pic: Reuters

LONDON: British Airways (BA) said it would take steps to ensure there was no repeat of a computer system failure that stranded 75,000 passengers over a holiday weekend and turned into a public relations disaster.

Read more: British Airways Vows 'Never Again' After Costly IT Collapse

Dollar Firms Against Sterling, Euro Amid Political Uncertainties

Pic: Reuters

The dollar firmed on Tuesday, taking back ground against the euro and sterling which were pressured by political uncertainties in the UK and eurozone.

Read more: Dollar Firms Against Sterling, Euro Amid Political Uncertainties

Japan's Tight Labor Market Offers Hope For Weak Consumer Spending

Pic: Reuters

TOKYO: Demand for Japanese labor rose to its strongest in more than four decades and the unemployment rate held steady at a two-decade low in April, offering hope that a tight labor market will eventually spark a turnaround in weak consumer spending.

Read more: Japan's Tight Labor Market Offers Hope For Weak Consumer Spending

Voir To Remain A Public-Listed Company, Says Chairman

KUALA LUMPUR: Voir Holdings Bhd, which saw a net loss of RM385,000 in the first quarter ended March 31, 2017, is looking at scaling down its apparel business and the possibility of venturing into construction and logistics.

Read more: Voir To Remain A Public-Listed Company, Says Chairman

ML Global To Invest RM40 Million In Pre-Cast Panels Plant

PETALING JAYA: ML Global Bhd, which expects to double its order book to RM2.04 billion, is planning to set up a plant to manufacture precast panels to reduce reliance on skilled labour.

Read more: ML Global To Invest RM40 Million In Pre-Cast Panels Plant

Oil Inches Up In Quiet Holiday Trade, Focus On Crude Glut

NEW YORK: Oil prices rose slightly on Monday, barely paring last week’s steep losses with the market remaining cautious as increases in U.S. drilling activity have undercut an OPEC-led push to tighten supply.

Read more: Oil Inches Up In Quiet Holiday Trade, Focus On Crude Glut

BMW Says Shortage Of Parts From Bosch Hampers Production

German carmaker BMW (BMWG.DE) said a shortage of steering gears supplied by Robert Bosch [ROBG.UL] slowed production of several of its compact and mid-sized models and caused stoppages at its plants in South Africa and China.

Read more: BMW Says Shortage Of Parts From Bosch Hampers Production

Media Prima Seeks Revenue Growth From Non-Traditional Media

KUALA LUMPUR - Malaysia's integrated media company, Media Prima Bhd, is seeking to grow its digital and non-traditional revenue streams through strategic business initiatives following a challenging outlook on traditional media.

Read more: Media Prima Seeks Revenue Growth From Non-Traditional Media

AirAsia Progresses Towards Becoming An ASEAN Airline

KUALA LUMPUR - AirAsia is continuing its expansion in the region to become a truly ASEAN airline, Group Chief Executive Officer Tan Sri Tony Fernandes said.

Read more: AirAsia Progresses Towards Becoming An ASEAN Airline