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Tag Archives: Malaysia

Malaysia, UK reaffirm ties

LONDON: The meeting between Prime Minister Datuk Seri Najib Razak and British Prime Minister Theresa May yesterday reaffirmed the strong ties both countries have enjoyed since Malaysia achieved its independence 60 years ago. Najib, who arrived from Washington, the United States, after a meeting with President Donald Trump last Tuesday, regarded the meetings with these world leaders as most significant ... Read More »

Malaysia, Saudi Arabia firms sign $3 bln worth of deals

KUALA LUMPUR: Malaysia and Saudi Arabia companies on Tuesday (Feb 28) signed seven memorandums of understanding (MOUs) in various areas, including construction, halal cooperation, aerospace and haj services, with an estimated total value of about RM9.74 billion (S$3 billion). Minister of International Trade and Industry Mustapa Mohamed said the signing of the MOUs signalled growing interests from both countries to ... Read More »

Malaysia, China poised to see boost in trade

PORT KLANG: Malaysia and China are poised to see a boost in trade, logistics and tourism with the formation of friendship ports bet­ween the two nations. Malaysia’s Port Klang is establishing sister-port relationships with seven ports in Chi­na, namely in Shanghai, Ningbo, Tianjin, Guang­zhou, Xiamen, Dalian and Fuzhou. Port Klang Authority (PKA) chairman Tan Sri Kong Cho Ha said that ... Read More »

Singapore awaits Malaysia’s response on two land reclamation projects

JOHOR BARU: Singapore reclaimed two land projects in the Johor straits for which Malaysia has still not responded. The Singapore government has stated this in republic’s parliament. Singapore Second Minister for Foreign Affairs Grace Fu confirmed that Singapore has not received an official response and EIA reports from Malaysia. This response follows last week’s approval for the RM600 billion mixed-development ... Read More »

Rs3.5b ($34.8m) capital: Bank Islami plans sukuk

KARACHI: With Basel-III global banking standards being phased in around the globe, the Bank Islami Pakistan was planning to raise Rs3.5 billion ($34.8 million) through subordinated sukuk. Several Islamic banks in the Muslim countries including Turkey, Malaysia, Saudi Arabia and the United Arab Emirates have issued such capital-boosting instruments. Last week, Bank Islami’s board of directors approved a plan to ... Read More »

Indonesia, China, Malaysia sugar import reach 1m tonnes

JAKARTA: Malaysia, China and Indonesia have imported more than one million tonnes of sugar from top exporters Brazil and Thailand for December delivery, revving up trade deals in the region, dealers Of the nearly 1 million tons of imports by China, Malaysia and Indonesia, Beijing alone has bought about 600,000 tons – 416,000 tons from Brazil and 180,000 tons from ... Read More »

Taiwan resists Malaysia IOI’s plan of $790m investment in Taipei

TAIPEI: Malaysia’s IOI Properties planned $790 million investment for a 37 percent stake in the owner of the Taipei 101 skyscraper ran into trouble after the Taiwan government said on Monday it was opposed to foreign control of the landmark. The IOI had said on Friday it was planning to buy the stake in the Taipei Financial Center for 2.74 ... Read More »

Honda recalls 3.2 million cars over deadly Takata airbags

TOKYO: One of the world’s biggest automakers, Japan’s Honda, is going to recall 3.2 million cars over deadly airbags made by auto parts maker Takata. Malfunctioning Takata airbags have been linked with five deaths, including a woman driving a 2003 Honda City in Malaysia, and hundreds of injuries. Honda said it is recalling a further 3.2 million vehicles across the US ... Read More »

Leading cellular phone service provider in Malaysia to reach 98pc coverage

KUALA LUMPUR: Dewan Negara heard cellular phone service coverage in Malaysia reach 98 per cent while broadband coverage reaches 84 per cent. Deputy Minister of Communications and Multimedia Datuk Jailani Johari said that was possible after the completion of 949 telecommunication towers all over the country this year. The broadband coverage was possible following the construction of a tower under ... Read More »

[email protected] ICT holds 11th annual Awards-2014 ceremony in Lahore

LAHORE:Pakistan Software Houses Association for IT ([email protected]) organized its 11th annual [email protected] ICT Awards-2014 ceremony at an impressive ceremony held at a local hotel her the other day. Speaking on the occasion, [email protected]’s President Jehan Ara said that the [email protected] ICT Awards is aimed at recognising the software and service applications by providing an opportunity to gain local, regional and ... Read More »

BMW launches $78,000 320i Sports Sedan in Malaysia

KUALA LUMPUR: BMW has launched the latest edition of Sport Sedan, 320i, in Malaysia. According to BMW Managing Director Alan Harris, the individual elements of the new edition are perfectly matched to create a distinctive character that was simply unmistakable in this new variant of the BMW 3 Series. “The availability of such designs creates a clear differentiation between the ... Read More »

Malaysia’s economic growth in Q 3 stands at 5.6% against 6.4% in Q2

KUALA LUMPUR: Malaysia’s economic growth slowed in the third quarter of the year, a UK-based  news agency poll showed due to low exports and domestic consumption. The median forecast for 15 economists in a UK -based news agency poll was for gross domestic product to grow 5.6 percent in the third quarter from a year earlier, compared with 6.4 percent ... Read More »

BMW launches $78,000 320i Sports Sedan in Malaysia

KUALA LUMPUR: BMW has launched the latest edition of Sport Sedan, 320i, in Malaysia. According to BMW Managing Director Alan Harris, the individual elements of the new edition are perfectly matched to create a distinctive character that was simply unmistakable in this new variant of the BMW 3 Series. “The availability of such designs creates a clear differentiation between the ... Read More »

Gas crisis to continue in winter as no LNG deal yet: Abbasi

ISLAMABAD: The federal government has not yet finalise the LNG (Liquefied Natural Gas) deal with any country. Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said this while talking to media at Parliament House. He said that the country would not be able to purchase LNG in less than $14 per mmbtu owing to current market situation. However, he ... Read More »

Commerce Ministry gears up efforts reduce trade deficit

ISLAMABAD: The Ministry of Commerce (MoC) has taken numerous measures to reduce trade deficit and to have positive trade balance with every trading partner. Following the MoC’s initiatives, the Trade Development Authority of Pakistan (TDAP) has arranged trade fairs and exhibition to promote Pakistani exports and TDAP took Pakistani exporters to 10 exhibitions in USA alone during 2013-14. An official ... Read More »

6600MW Gadani Power Park worth Rs147b could attract only six firms

ISLAMABAD: Only six companies have submitted their Expressions of Interest (EoIs) against imported coal based Independent Power Producers (IPPs) of cumulative capacity of 6600 MW to be set up at Gadani Power Park in Balochistan. The EoI opening ceremony was held at Private Power & Infrastructure Board (PPIB), which was attended by the acting PPIB Managing Director Shah Jahan Mirza, ... Read More »

Foreigners invited to invest in agriculture sector

ISLAMABAD: The speakers at International Investment Conference have been offered to invest in the agricultural sector as it is the most promising sector for investments. The conference was organized by the Board of Investment to highlighting the investment opportunities and to urge the foreign investors to explore untapped potential of the country More than 350 delegations from all over the ... Read More »

Pakistan future hub of trade, commerce in Asia: Ahsan

ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal said that Pakistan was a future hub of trade, commerce and industry in Asia as it was located in that of the continent. “It is the best time for the foreign investors to invest in Pakistan as the country is rapidly developing and it is becoming stable and peaceful”, he ... Read More »

New World Financial Order

At least 21 countries, Including Pakistan, have signed a memorandum of understanding at Great People’s Hall in Beijing to set up Asian Infrastructure Development Bank with paid up capital of $50 billion. The establishment of the bank indicates China desire to promote investment at the regional level as well as the nature of its competitive relationship with the United States. ... Read More »

Chennai Customs seizes record 280kg gold haul in 2014

CHENNAI: Indian Customs has seized record 280 kilograms of gold worth 710 million Indian rupees ($11.5 million) at the Chennai Airport. Customs Chief Commissioner S Ramesh said that the amount of gold seized till the end of August this year was `71 crore in Indian rupee which was `55 crore it seized throughout 2013. Gold is brought in primarily from ... Read More »