Asia Top News and Analysis Malaysia

  • Dec 6- Major oil producers Saudi Arabia and Russia will seek approval for deeper output cuts from OPEC and allies on Friday in an attempt to support prices and avoid an new oil glut. OPEC and allied producers, the so-called OPEC+, pump more than 40% of the world's oil. OPEC is likely to shoulder 340,000 bpd in fresh cuts and non- OPEC producers an extra 160,000 bpd, one...

  • FREETOWN, Dec 5- Malaysia's Sime Darby plans to sell its palm oil concession in Liberia to a local manufacturer, a Liberian government minister said on Thursday, following subpar financial results due largely to stricter environmental standards. Sime Darby signed a 63- year concession in 2009 for the 220,000 hectares in northwestern Liberia, which made up a...

  • Gabriel Dechaine, an analyst at National Bank of Canada Financial Markets, said the division's woes are far from over. As TD and Canadian Imperial Bank of Commerce prepare to wrap up the 2019 fiscal reporting season on Thursday, the picture emerging is of a sector battling higher bad debt provisions, margin pressure in the United States and a sluggish...

  • As TD and Canadian Imperial Bank of Commerce prepare to unveil quarterly earnings Thursday, wrapping up the 2019 fiscal reporting season, the picture emerging is of a sector battling higher bad debt provisions, margin pressure in the United States and a sluggish environment for deals, making it the worst year for earnings growth since the financial crisis.

  • Companies selling stakes include large foreign producers that were awarded blocks in previous rounds such as China's CNOOC and Germany's Wintershall Dea. "If I want to grow and there are no rounds, the only option left is to buy a stake in some of the existing," said Benigna Leiss, former country manager of U.S. Chevron Corp in Mexico. Former President Enrique Pena...

  • KUALA LUMPUR, Dec 4- Malaysian Prime Minister Mahathir Mohamad formally launched on Wednesday preparations to host next year's APEC summit, recalling with pride how his country hosted the event more than 20 years ago, but also flagging risks. "We believe it is quite fitting for Malaysia to kick-start our second opportunity to host APEC at the same place as we did...

  • The AirAsia commercial sign is seen in Kuala Lumpur, Malaysia on January 24, 2018.

    Thirty percent of the restaurant's menu is from AirAsia's existing in-flight menu, which includes classics such as Pak Nasser's nasi lemak, a signature Malaysian rice dish with chili condiment.

  • DUBLIN, Dec 3- Ryanair launched a bid in Ireland's High Court on Tuesday to prevent operations chief Peter Bellew from joining arch-rival easyJet until 2021, saying he possessed information of immense competitive value and that he had signed a non-compete clause. Europe's biggest budget airline said in July that the former Malaysia Airlines boss, who denies...

  • CHINA- China's central bank lowered as widely expected its lending benchmark rate on Nov. 20, to reduce company funding costs and shore up an economy hurt by slowing demand and U.S. trade tariffs. ZAMBIA- Policy makers raised the country's benchmark lending rate by 125 basis points to 11.5% on Nov. 20, citing rising consumer price inflation and the need to restore...

  • DUBLIN, Dec 3- Ryanair launched a bid in Ireland's High Court on Tuesday to prevent operations chief Peter Bellew from joining arch-rival easyJet until 2021, saying he possessed information of immense competitive value and that he had signed a non-compete clause. Europe's biggest budget airline said in July that the former Malaysia Airlines boss, who denies...

  • DUBLIN, Dec 3- Ryanair heads to court on Tuesday to try to prevent operations chief Peter Bellew from joining arch-rival easyJet until 2021.. But after easyJet announced Bellew's appointment as its new chief operations officer a week later, Ryanair launched legal proceedings in Ireland's High Court. Ryanair boss Michael O'Leary told reporters in September...

  • KUALA LUMPUR, Dec 2- Airline food has long been the butt of travelers' jokes, but Malaysia's AirAsia Group Bhd is seeking to turn that notion on its head- opening its first restaurant on Monday featuring dishes based on its in-flight menu. AirAsia group CEO Tony Fernandes is so confident the carrier's Southeast Asian fare will be popular with diners on the ground...

  • Nov 29- Airlines that fly to and from Hong Kong will be able to keep their prized airport slots even if they temporarily cut capacity due to weak travel demand through March, according to the Hong Kong Civil Aviation Department. Many airlines, including flagship home carrier Cathay Pacific Airways Ltd, South African Airways and Malaysia's AirAsia Group Bhd have...

  • SEOUL, Nov 26- South Korea's Hyundai Motor said on Tuesday it has signed a preliminary deal to build a new factory in Indonesia, which would be its first car plant in Southeast Asia and a crack at Japanese rivals that dominate the market. The deal comes as Hyundai and affiliate Kia Motors struggle with a prolonged sales downturn in China, where they suspended two...

  • *Saudi Arabia remains top crude supplier to China. *Malaysia imports double amid sanctions on Iran, Venezuela. BEIJING, Nov 25- China's crude oil imports from Saudi Arabia rose 76.3% in October, boosted by demand from new refiners, with the kingdom retaining its position as the top supplier to the world's biggest oil importer.

  • Dry weather and lower fertilizer use- a move adopted by some growers to save costs- have affected output this year at top producers Indonesia and Malaysia, and will continue to be a factor in the coming years, Fry said. Indonesia's production this year may prove to be little changed from last year, while Malaysia will see some growth, Fry said. On Wednesday, Fry said...

  • KUALA LUMPUR, Nov 21- Growth in palm oil production will be slow for the next few years, helping reduce stockpiles and boost prices, leading industry analyst James Fry said on Thursday. Dry weather and lower fertilizer use- a move adopted by some growers to save costs- have affected output this year at top producers Indonesia and Malaysia, and will continue to be a...

  • KUALA LUMPUR, Nov 20- Malaysia aims to start producing palm oil-based biojet fuel within five years and is in talks with several potential partners about setting up a plant, the head of the industry's marketing board said on Wednesday. Ahmad Parveez Ghulam Kadir, director general of the Malaysian Palm Oil Board, said Malaysia was exploring "all possibilities"...

  • The new International Maritime Organization rules prohibit ships from using fuels containing more than 0.5% sulphur, compared with 3.5% through the end of December, unless they are equipped with exhaust-cleaning "scrubbers". The world's largest refiner, Sinopec Corp, has started very low-sulphur fuel oil output at 10 refineries in China, including Zhenhai...

  • DUBAI, Nov 19- Boeing Co won fresh support for its grounded 737 MAX at the Dubai Airshow on Tuesday as airlines laid out plans to buy up to 50 of the jets worth $6 billion at list prices, a day after securing the first firm order since a safety ban in March. Kazakhstan flag carrier Air Astana said it had signed a letter of intent to order 30 Boeing 737 MAX 8 jets for its...