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TheMalaysianInsider : Business
AirAsia sees sharp fall in 2011 net profit
Feb 22nd
KUALA LUMPUR, Feb 22 — AirAsia today reported a sharp fall in net profit by almost half for 2011 but the budget carrier posted record revenue. The airline posted a revenue of RM4.47 billion ringgit for the year, up 13 per cent from 2010.
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Euro zone teetering on brink of recession
Feb 22nd
LONDON, Feb 22 – The euro zone economy is in danger of tipping into recession, with the services sector shrinking this month along with manufacturing, tempering a wave of optimism after a new bailout deal for Greece struck this week. Surveys of purchasing managers published today showed unexpectedly weak activity in the region’s most powerful ..
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Greece rushes to pass bailout laws amid protests
Feb 22nd
ATHENS, Feb 22 – The Greek parliament, barricaded from protests by workers and pensioners angry over austerity, scrambled today to pass laws needed to secure payment of a second international bailout for the debt-laden country. Lawmakers set to work on a flurry of measures demanded by euro zone states in exchange for a €130 billion (RM520.89 …
MISC reports Q3 net loss of RM1.74b
Feb 22nd
KUALA LUMPUR, Feb 22 – Malaysian shipping liner MISC Bhd said in a filing to the local stock exchange today that the third quarter ended Dec 31 turned to a net loss of RM1.74 billion (US$575 million) versus a net profit of RM1.38 billion a year ago. The poor performance was partly due to its exit from the liner business and a weak global economy …
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SE Asia Stocks: End mostly lower on Greek, oil worries
Feb 22nd
BANGKOK, Feb 22 – Southeast Asian stocks ended mostly lower on worries over the feasibility of the Greek deal and rising oil prices, while data showing a continuous contraction in China’s factory sector kept investors cautious today. Benchmarks in Singapore, Indonesia, Malaysia and Thailand ended lower, while those in the Philippines and Vietnam ..
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Genting Singapore swings to profit, eyes investments
Feb 22nd
SINGAPORE, Feb 22 – Casino operator Genting Singapore Plc said today it was looking to invest in new projects after it swung to a net profit in the fourth quarter and announced its first-ever dividend. Genting, whose main asset is the Resorts World at Sentosa casino complex, earned S$262 million (RM633.42 million) in October-December, reversing …
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India GDP growth seen picking up in 2012/13
Feb 22nd
NEW DELHI, Feb 22 – India’s economy is expected to pick up in the fiscal year starting on April 1 after growing at its slowest pace in three years in the current fiscal year, a government advisory panel said today.
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Singapore Airlines announces finale as it phases out the jumbo jet
Feb 22nd
SINGAPORE, Feb 22 = Singapore Airlines and its passengers will wave goodbye to the Boeing 747 ‘jumbo jet’ on April 6, it has announced.
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Signs point to uneven economic recovery: RHB
Feb 22nd
KUALA LUMPUR, Feb 22 – The economy is recovering but at an uneven pace said RHB Research Institute following the release of last December’s leading economic indicators. The research house said in a report yesterday that the country’s leading index, which provides an early signal as to the direction of the economy, had recovered only modestly in …
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China economy faces risk of hard landing, says government economist
Feb 22nd
BEIJING, Feb 22 — A property sector downturn and slumping global demand may knock China’s economy into a hard landing in 2012, a senior government economist told Reuters, putting more pressure on Beijing to speed up economic reforms and to open up the market. The economy is not just slowing but is also haunted by over-investment that could …
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