Malaysia and Australia to tackle problem of people smuggling
Malaysia and Australia are expected to sign a memorandum of understanding (MoU) by February next year to jointly tackle human smuggling and trafficking. Home Minister Datuk Seri Hishammuddin Tun Hussein said the problem was of great concern to both countries. “The numbers are big enough to justify serious action and the sharing of information by both countries,” he said at a joint news conference with Duncan Lewis, the National Security Adviser to Australian Prime Minister Kevin Rudd. They had earlier attended the Malaysia-Australia Working Group Meeting on the Issue of Smuggling and Trafficking of Humans, here, yesterday. Present at the function wer...

Petronas and Maxis end offering drought
 Two of Malaysia's largest companies are storming back into capital markets after a drought in offerings. Petronas, the state energy group, has just sold the biggest Asian international corporate bond issue since 2003 while Maxis, Malaysia's leading mobile operator, is considering an initial public offering that could be among the biggest in south-east Asia this year. The $4.5bn global bond offering by Petronas included a $3bn, 10-year conventional issue and a $1.5bn five-year Islamic bond, that was the largest international sukuk denominated in US dollars since a $1.5bn Dubai Ports issue in 2007. Both tranches were priced at 162.5 basis points above ...

Citibank plans four more branches
Citibank Bhd will set up four new conventional branches early next year and submit a formal application for the setting up of an Islamic subsidiary as part of its strategy to widen its presence here. “We’re planning for four branches. We have seven now and are looking forward to getting the Islamic banking licence – that’s the next step for us here,” Citi chief executive officer Vikram Pandit said. Citibank chief executive officer Sanjeev Nanavati said a formal application for the Islamic banking licence would be made “soon”. “The application for the Islamic banking subsidiary underlines Citi’s support of Malaysia’s development into ...

China’s Record Steel Output Signals Price Climb: Chart of Day
July 21 (Bloomberg) -- China’s steel prices will rise further, pushing up the metal’s price in global markets, as government public works spending spurs demand and mills charge more to cover raw material costs, according to UBS AG and Umetal Research Institute. The CHART OF THE DAY tracks China’s steel output and benchmark prices for imported iron ore and hot-rolled sheets in China and the U.S. Steel production rose to a record 267 million metric tons in the first half. Prices for hot-rolled steel increased 21 percent since April 1, while iron ore for immediate delivery into China surged 43 percent, according to data compiled by Bloomberg. “China c...

Malaysia Targets One Million Chinese Tourists This Year
 BEIJING, July 20 (Bernama) -- Tourism Malaysia is set to capitalise on this year's 35th anniversary of Sino-Malaysian relations as well as the ethnic ties between the peoples of both countries to draw more Chinese tourists to Malaysia. The Malaysia Tourism Promotion Board has set a target of one million Chinese tourists for this year alone. "We will launch attractive tour packages which encourage Chinese tour operators to bring newly-wed couples, diplomatic personnel, intellectuals and professionals to Malaysia," Malaysian Tourism Minister Datuk Seri Ng Yen Yen said at a meeting with Tourism Malaysia officers based in China, Hong Kong and T...

Analysis: Obama's global reach only goes so far
L'AQUILA, Italy - (Free International Trading Company) - Barack Obama is finding that even the reach of a globally popular president goes only so far, leaving him to snatch partial victories as he can. For all his effort, his strategy also banks heavily on the commodity that helped get him elected: hope. Obama came to a summit of world leaders this week as arguably the most popular politician here, not to mention the leader of the world's chief superpower. But on the dominant issue of global warming, a new deal failed to win over developing countries, weakening its punch. And earlier in Moscow, Obama got the promise of a pact with Russia to reduce...

In Malaysia, English Ban Raises Fears for Future
KUALA LUMPUR (Free International Trading Company) - P.S. Han, a teacher in Kuala Lumpur, has been using English to teach math and physics to 17-year-olds for the past six years. From 2012, he will be forced to return to using the national language, Bahasa Malaysia, after the government decided to abandon English for the two subjects in a decision some consider to be motivated by politics rather than education. “English has been used as the language of science for 300 years,” said Mr. Han, a teacher at St. John’s Institution. “You cannot really convey the scientific concepts to the students in Bahasa Malaysia at a very high level.” �...

Iran, Malaysia sign three MoUs to raise cooperation
TEHRAN, Dec. 23 (Free International Trading Company)-Iran and Malaysia signed three Memorandums of Understanding (MoU) in Tehran to boost cooperation on scientific and technological fields, campaign against drug trafficking and production of joint cars by Iranian Zagros Khodro and Malaysian Proton car manufacturing companies. ...

Abdullah's Visit Set To Spur Malaysia-Iran Trade, Economic Ties
TEHRAN, Dec 22 (Free International Trading Company) - Much of Iran has been gripped by cold weather over the past few weeks with snow capping the mountains that ring its capital, Tehran, where Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi is scheduled to begin his four-day official visit to this country. ...

Malaysian PM to visit Iran
KUALA LUMPUR, Dec. 17 (Free International Trading Company) Malaysian Prime Minister Abdullah Ahmad Badawi will visit Iran beginning on Sunday, according to local media reports on Wednesday. ...