Fri03272015

LAST_UPDATEFri, 27 Mar 2015 8pm

KL Shares End Lower

KUALA LUMPUR — Shares on Bursa Malaysia ended lower today as traders trimmed their positions ahead of the weekend amid cautious external environment, dealers said.

Read more: KL Shares End Lower

South Korea Expects Its Infrastructure Firms To Benefit From China-Led Bank

China's President Xi Jinping (front centre) with guests at the Asian Infrastructure Investment Bank launch ceremony in Beijing October 24, 2014. — Reuters picSEJONG — South Korea hopes its infrastructure companies will benefit from the country joining the China-backed Asian Infrastructure Investment Bank (AIIB), the finance ministry said today.

Read more: South Korea Expects Its Infrastructure Firms To Benefit From China-Led Bank

Google’s New CFO Porat To Get More Than US$70m In 2 Years

MOUNTAIN VIEW — Google Inc said it would pay its new Chief Financial Officer, Ruth Porat, more than US$70 million (RM257 million) in the next two years through a combination of restricted stock units and a biennial grant.

Read more: Google’s New CFO Porat To Get More Than US$70m In 2 Years

GST: Matta Wants Three-Month Trial Period Before Full Implementation

KUALA LUMPUR: Malaysian Association of Tour and Travel Agents (MATTA) wants the government to implement the Goods and Service Tax (GST) on a three-month trial period.

Read more: GST: Matta Wants Three-Month Trial Period Before Full Implementation

Rupiah Weakness Puts Investments In Indonesia At Risk

JAKARTA — Fund managers and foreign investors are bailing out of Indonesian stocks as worries grow that a perfect storm of a sliding rupiah, record levels of foreign debt and rising import costs could bring some businesses to their knees.

Read more: Rupiah Weakness Puts Investments In Indonesia At Risk

Apple’s Tim Cook To Give Away Wealth, Says ‘Fortune’

Reuters picNEW YORK — Apple Inc Chief Executive Tim Cook said he planned to give away all his wealth, the Fortune magazine reported.

Read more: Apple’s Tim Cook To Give Away Wealth, Says ‘Fortune’

Ministry Of Finance Appoints CIMB As Adviser For Edra Global Sale

PETALING JAYA: CIMB Group announced yesterday that it has been appointed to act as adviser to the Ministry of Finance (MoF) for the sale of 1Malaysia Development Bhd's (1MDB) power arm, Edra Global Energy Bhd to strategic investors.

Read more: Ministry Of Finance Appoints CIMB As Adviser For Edra Global Sale

Cahaya Mata Raises Stake In Smelting Project For US$18.45m

PETALING JAYA: Cahya Mata Sarawak Bhd (CMSB) is upping its stake in the ferrosilicon and manganese alloys smelting project in Samalaju Industrial Park (SIP) by another 5% for US$18.45 million (RM67.53 million).

Read more: Cahaya Mata Raises Stake In Smelting Project For US$18.45m

Wall St Down In 4th Straight Session After Choppy Trade

NEW YORK — US stocks fell for a fourth straight session yesterday but indexes ended well off session lows with support from economic data and earnings, including Accenture's.

Read more: Wall St Down In 4th Straight Session After Choppy Trade

US Groups Raise Concerns Over Leaked TPP Dispute-Settlement Plan

WASHINGTON — A leaked secret dispute-settlement provision of a pending US trade deal with Asia is raising concerns among nonprofit groups which say it favours big companies over governments.

Read more: US Groups Raise Concerns Over Leaked TPP Dispute-Settlement Plan