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 •  Facebook CEO says group will not become a media company
ROME: Facebook Inc will not become a media company, its founder and CEO Mark Zuckerberg said on Monday, telling students the firm would remain a technology platform.
 
 •  Singapore’s GIC buys stake in Vietnam’s largest bank
SINGAPORE: Singapore sovereign wealth fund GIC will buy a 7.7% stake in Vietnam’s biggest bank, both companies said in a joint statement on Monday.
 
 •  IOI Prop secures Xiamen land for RM1.4bil in competitive bidding
KUALA LUMPUR: IOI Properties Group Bhd (IOI Prop) has successfully tendered for a 6.2-acre leasehold land in Xiang An central business district, Xiamen, for 2.324 billion yuan (RM1.41bil) from the Xiamen Bureau of Land Resources and Real Estate Management.
 
 •  MyEG plans 1-for-2 bonus issue, annual profit hits record
KUALA LUMPUR: My E.G. Services Bhd (MyEG) announced a proposed 1-for-2 bonus issue of up to 1.202 billion 10-sen shares on Monday, when it also disclosed its best-ever annual profit.
 
 •  AirAsia’s net profit soars by 41%
KUALA LUMPUR: AirAsia Bhd’s net profit for its second quarter ended June 30, 2016 soared 40.8% year-on-year to RM342.12mil, boosted mainly by a 40.2% jump in aircraft operating lease income and a 24% reduction in average fuel price to US$59 (RM236) per barrel compared to a year earlier.
 
 •  KFH Malaysia appoints David Power as its CEO
KUALA LUMPUR: Kuwait Finance House (M) Bhd (KFH Malaysia) has appointed David Power as its new chief executive officer (CEO) effective Monday.
 
 •  UMW Holdings swings to a loss in Q2
KUALA LUMPUR: UMW Holdings Bhd swung to a loss attributable to equity holders of RM12.13mil in the second quarter (Q2) ended June 30, 2016, from a profit of RM68.44mil a year earlier, as profit from the automotive segment was halved and its oil and gas (O&G) business sank into a loss.
 
 •  Maybank, TNB weigh on KLCI
KUALA LUMPUR: Blue chips closed lower on Monday amid a weaker broader market while the ringgit lost ground.
 
 •  FGV in talks to dispose of non-core assets
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) is already in talks with potential buyers for the divestment of up to three non-core assets, slated for conclusion by year-end, in the quest to improve its balance sheet.
 
 •  Malaysia set to maintain pace of motor parts, components exports
CYBERJAYA: Malaysia is expected to be able to maintain the pace of the export of motor parts and components as well as accessories which reached RM3.4bil last year.
 
Updated: 140 minutes ago
 •  Mahindra two-wheelers bids for Peugeot Citroen's scooters
Automobile major Mahindra & Mahindra's two-wheeler subsidiary Tuesday said that it has made a binding offer to acquire a majority stake in PSA Peugeot Citroen's scooter business.
 
 •  Sensex trades in red; bank stocks down
Opening after an extended weekend holiday, a benchmark index of Indian equities markets Tuesday traded 108 points or 0.
 
 •  India offers $250 bn investment opportunity in infrastructure
India needs $250 billion in next 20 years for basic urban infrastructure and this offers huge investment opportunities to international investors, said country's Urban Development Minister M.
 
 •  SJVNL signs pact for Bhutan hydro project
The public sector Satluj Jal Vidyut Nigam Ltd (SJVNL) has signed an agreement for commissioning of the 600 MW Kholongchu Hydro Electric Project in Bhutan, whose foundation stone was laid by Prime Minister Narendra Modi, the company said Wednesday.
 
 •  Amazon has high expectations from India business: Jeff Bezos
Amazon has very high expectations from its Indian operations, Chief Executive Officer Jeff Bezos said here Wednesday.
 
 •  Sensex trades flat; banking stocks plunge
A benchmark index of Indian equities markets Wednesday was trading flat at 22.
 
 •  Diesel in over-recovery; retail prices exceed global rates
With the rates of the Indian basket of crude oil falling below $95 a barrel, the petroleum ministry Wednesday said losses on diesel sales had been wiped out with the government now looking at a profit of nearly two rupees a litre on the fuel sales.
 
 •  Ford India's sales dip in September
Passenger car manufacturer Ford India experienced a dip in its September sales as compared to the corresponding period of 2013, the company said Wednesday.
 
 •  Microsoft Devices launches new Lumia devices
Microsoft Devices Wednesday launched three new Windows smartphones - Lumia 830, Lumia 730 and Lumia 930, a top company official said here.
 
 •  Maruti Suzuki's September sales up
India's largest passenger car manufacturer Maruti Suzuki Wednesday reported a healthy sales growth of 4.
 
 •  Reliance Communications to reduce debt to under Rs.20,000 crore
Reliance Communications targets to bring its debt to under Rs.
 
 •  Maruti Suzuki recalls 69,555 vehicles
In one of the largest automobile repair and inspection exercises, passenger car major Maruti Suzuki Tuesday said that it has recalled 69,555 diesel Dzire, Swift and Ritz models, stating that it will proactively inspect and repair a wiring harness.
 
 •  Hero MotoCorp's August sales up 30 percent
Two-wheeler manufacturer Hero MotoCorp Tuesday reported sales growth of 30 percent in September by dispatching 600,000 units.
 
 •  Monetary policy will be inflation data-contingent: RBI
Given that inflation is expected to level at around 7 percent by 2016, the Reserve Bank's monetary policy going ahead will be contingent on relevant data coming in, RBI Governor Raghuram Rajan said Tuesday after announcing the central bank's fourth bi-monthly policy review.
 
 •  Eight core industries up 5.8 percent in August
Eight core industries such as coal, electricity, crude oil, cement and steel, grew at 5.
 
Updated: 997132 minutes ago
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