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Business News
 •  EPF'S income up 13% to RM10.4bil
KUALA LUMPUR: The Employees Provident Fund (EPF) recorded a 13.47% surge in investment income to RM10.4bil for the second quarter ended June 30, 2014 compared with RM9.16bil last year.
 •  China anti-trust probes unfair, says US lobby
BEIJING: Foreign companies are increasingly concerned they are being targetted by Chinese regulators, a US business lobby said as a Chinese anti-trust agency defended probes into firms such as US chipmaker Qualcomm Inc.
 •  Siam Commercial Bank in talks to sell stake in unit
HONG KONG: Siam Commercial Bank, Thailand’s third largest lender, has held talks to sell a 25% stake in its life insurance business SCB Life Assurance PCL, people familiar with the matter said.
 •  Islamic banks face challenges under Basel III
DUBAI: As banks around the world gear up to meet tough Basel III regulatory standards, Islamic lenders face a source of uncertainty that could prove expensive for them: how regulators will treat their deposits.
 •  Longer prison terms for US insider traders
NEW YORK: US judges are imposing increasingly long prison terms for insider trading, a Reuters analysis shows. The rise is at least partly driven by the bigger profits being earned through the illegal schemes, defence lawyers said.
 •  Aussie central bank keeps rate at 2.5%
SYDNEY: Australia’s central bank kept interest rates on hold at a record low 2.5% as it flagged an accommodative monetary policy and stepped up its rhetoric against the local dollar.
 •  EPF's foreign investments pay off in Q2
PETALING JAYA: The Employees Provident Fund’s (EPF) foreign portfolios contributed significantly to its 13.47% jump in investment income for its second quarter ended June 30.
 •  EC said to have awarded IMDB job for power plant needed only in 2021
PETALING JAYA: In an unprecedented move, the award to build and operate a multi-billion ringgit gas-fired power plant has been awarded seven years ahead of its commissioning in 2021.
 •  Zeti: A large Islamic bank will support cross-border deals
KUALA LUMPUR: The creation of a mega-Islamic bank must fulfil the objectives of being able to undertake international business and facilitate cross-border financial flows, said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.
 •  Euro Holdings gets takeover offer from executive director and two shareholders
PETALING JAYA: Euro Holdings Bhd has received a conditional mandatory takeover offer from its executive director and two major shareholders to acquire the remaining 52.3% of the share capital that they do not already own, for a cash consideration of 44 sen a share.
Updated: 33 minutes ago
 •  After SpiceJet, IndiGo enters fare war
Budget carrier IndiGo Tuesday started promotional air fares by offering discounted one-way fares starting at a low of Rs.
 •  GSM rural subscribers at 303.10 mn in July: COAI
All India GSM rural subscriber numbered 303.
 •  GMR Infra signs MoU with Japan Bank for International Cooperation
GMR Infrastructure Tuesday said it has signed a Memorandum of Understanding (MoU) with the Japan Bank for International Cooperation (JBIC) for giving financial assistance to Japanese companies investing in infrastructure projects of GMR Group.
 •  Bharti Airtel launches music streaming app Wynk
Bharti Airtel has launched Wynk Music, a carrier agnostic music streaming mobile application, with a music library of over 1.
 •  Tata Motors bags order for 2,700 buses
Automobile major Tata Motors Tuesday said that it has bagged an order of over 2,700 'Urban' buses under the Jawaharlal Nehru National Urban Renewal Mission (JnNURM)- II scheme.
 •  Kudankulam n-plant unit to restart generation
The Nuclear Power Corporation of India Ltd (NPCIL) has begun the process to restart the first 1,000 MW unit at its Kudankulam Nuclear Power Project (KNPP) following the sectoral regulator's permission, said a senior official.
 •  Bajaj Auto's August sales up eight percent
Two-and-three wheeler manufacturer Bajaj Auto Tuesday reported an increase of eight percent in its sales for August which stood at 336,840 units against 312,188 units sold in the like month of 2013.
 •  Sensex, Nifty hit record highs Tuesday
A benchmark index of Indian equities markets hit a record high of 26,952.
 •  Current account deficit narrows to 1.7 percent of GDP in Q1
India's current account deficit (CAD) for the first quarter (April-June) of the current fiscal narrowed to 1.
 •  Eight core industries grow 2.7 percent in July
Eight core industries such as coal, electricity, crude oil, cement and steel, grew 2.
 •  Honda Motorcycle and Scooter logs 26 percent sales growth
Japanese two wheeler maker Honda Motorcycle and Scooter India (HMSI) closed last month with 26 percent sales growth compared to figures logged during August 2013, the company said.
 •  Kingfisher, Mallya wilful defaulters, says United Bank of India
State-run United Bank of India (UBI) Monday declared the defunct Kingfisher Airlines, its promoter Vijaya Mallya and its three directors as wilful defaulters after they did not turn up for a meeting with its grievances redressal panel, an official said.
 •  Narendra Modi's Japan visit to strengthen business ties: Assocham
Indian industry stakeholders anticipate Prime Minister Narendra Modi's Japan visit will strengthen bilateral ties and position India as a favourable trade destination.
 •  Wipro to expand presence in Oman
Indian IT bellwether Wipro Ltd.
 •  Mahindra's August sales down 7 percent
Automobile manufacturer Mahindra Monday reported a decline of seven percent in its sales during August at 35,175 units from 37,897 units during the same month of last year.
Updated: 499 minutes ago
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