DUBAI: Hopes of progress this week on Dubai World’s US$26 billion (RM86.89 billion) debt restructuring lifted stocks and eased fears of default but potential divisions emerged among creditors to the state-owned conglomerate, according to Reuters.

PETALING JAYA: Space U8 will be officially opened to the public in September 2010. However, a soft launch event for invited guests is being planned in conjunction with the Soccer World Cup tournament in July.

KUALA LUMPUR: YTL Hotels & Properties Sdn Bhd (YTLHP) has entered into an acquisition agreement to acquire a new subsidiary based in Japan, said holding company YTL Corp Bhd in a March 8 Bursa Malaysia filing.

KUALA LUMPUR: Malayan Banking Bhd will increase its base lending rate (BLR) by 25 basis points from 5.55% per annum to 5.80% per annum effective Tuesday, March 9.

Maybank said on Monday, the base financing rate (BFR) of Maybank Islamic Bhd would similarly be revised from 5.55% to 5.80% effective the same date.

KUALA LUMPUR: The Employees Provident Fund Board (EPF) had stepped up its acquisition of shares in Malaysian Resources Corp Bhd (MRCB), acquiring another 24.75 million shares last Friday, March 5.

A filing with Bursa Malaysia on Monday (March 8) showed the shares were acquired at an average price of RM1.479 each.

BEIJING: The Chinese government has succeeded in curbing property speculation in some cities where real estate prices were rising too fast, the Housing Ministry said on March 8, acknowledging that strong demand will continue to drive prices.

KOTA KINABALU: The Kota Kinabalu Court has applied for the construction site of a new court complex to be closer to the city.

Deputy Chief Minister Datuk Seri Joseph Pairin Kitingan said the site allocated in Likas Bay, near here, was inappropriate and inconvenient for the public.

PENANG: The Penang chapter of the Malaysian Malay Chambers of Commerce (DPMMPP) on March 8 questioned the proposed construction of the Penang International Convention Centre (PICC) by the state government, claiming that the project was not a priority for the people.

HONG KONG: Hong Kong property tycoon Henry Cheng Kar-shun has called for the relaunch of a government-subsidised flat sale scheme that he and fellow private developers had once pressed hard to have abolished.