Summary : News Strait Times October 29, 2014

• Maybank Islamic announces RM20m Waqf Fund
  October 28, 2014 11:45:57 pm
  DUBAI: Maybank Islamic Bhd has allocated RM20 million seed capital for a Waqf Fund that will be investing in fixed-income, equities and other investment instruments....
• B7 biodiesel plan to take off next month
  October 28, 2014 11:29:42 pm
  MALAYSIA will gradually roll out its B7 biodiesel programme, starting with Peninsular  Malaysia next month and to be followed by Sarawak, Sabah and Labuan by December....
• FGV expands palm oil methyl ester business in China
  October 28, 2014 11:28:40 pm
  KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) is expanding its biodiesel business in China with the second shipment of 6,000 tonnes of palm oil methyl ester (PME) to Dongguan Port, Guangdong....
• Ma tops China rich list
  October 28, 2014 11:27:22 pm
  JACK Ma, founder of e-commerce giant Alibaba, is China’s richest person with a fortune of nearly US$20 billion (RM65.49 billion), as billionaires increase despite a slowdown in the country’s economy, Forbes magazine said yesterday....
• Samsung heir apparent tightens grip on business
  October 28, 2014 11:26:11 pm
  SEOUL: Samsung Group heir apparent Jay Y. Lee is moving to acquire small stakes in two of the group’s financial firms, which analysts say will help the scion solidify control of South Korea’s largest conglomerate as a succession looms....
• US retailers refuse to use Apple’s e-pay service
  October 28, 2014 11:25:18 pm
  CHICAGO Some large United States retailers are refusing to use Apple Inc’s new electronic payments service as they commit to developing a rival payments system that will bolster their profits by eliminating credit card transaction fees....
• UBS Q3 net earnings hit 762m francs
  October 28, 2014 11:24:38 pm
  ZURICH: Banking giant UBS yesterday announced that its net profit had risen by 32 per cent in the third quarter to 762 million Swiss francs (RM2.62 billion). The leap of almost one third compared to the same period of 2013 was fuelled by 1.3 billio...
• SoftBank to buy stake in Snapdeal
  October 28, 2014 11:24:22 pm
  TOKYO: SoftBank said yesterday it will invest US$627 million (RM2.05 billion) in Snapdeal, becoming the largest shareholder in India’s leading online marketplace as the Japanese mobile carrier strengthens its presence in the fast-growing market. Th...
• Honda cuts profit forecast by 5.8pc
  October 28, 2014 11:24:07 pm
  TOKYO: Honda Motor Co cut its sales forecasts for this year, citing competition and the impact of recalls on new launches, but said a weak yen would help it stick to its operating profit estimate of 770 billion yen (RM23.33 billion). The carmaker...
• IRDA eyeing untapped halal mart
  October 28, 2014 11:22:12 pm
  ISKANDAR Regional Development Authority (IRDA) is looking to secure a significant chunk of the untapped halal market that promises to have multiplier effects in Iskandar Malaysia....