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ECB hawks press case for more rate hikes to fight inflation
Two prominent hawks on the European Central Bank’s (ECB) policymaking Governing Council predict that the bank will likely need to hike interest rates further....
PETRONAS inks MoU with Philippines’ Phoenix Petroleum
KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) and Phoenix Petroleum have agreed and signed a memorandum of understanding (MoU). To develop a collaboration in downstream...
Germany, Japan seek economic cooperation
During their first-ever high-ministerial government meetings, held in the midst of concerns over global supply chains and the economic repercussions of the war in...
Chinese coffee giant apologizes for fabrication of sales
Luckin Coffee, China’s largest coffee chain, made a public apology after admitting that one of its top officials masterminded the fabrication of their sales...
Extension of coronavirus travel ban worsens Thai Airways problems
The Civil Aviation Authority of Thailand (CAAT) declared an extension in its existing travel restrictions until April 18 as the government ramps up efforts...
Quantum Computing Breakthrough: China’s Jiuzhang Performs AI Tasks 180 Million Times...
Jiuzhang, a quantum computing device developed by scientists in China, has achieved a significant breakthrough in the field of artificial intelligence. According to researchers,...
TM, ZTE Malaysia team up to build hybrid cloud 5G core...
KUALA LUMPUR: To create a hybrid cloud 5G core network, Telekom Malaysia Bhd (TM) and ZTE (M) Corp Sdn Bhd have partnered. TM and...
Standard Chartered Malaysia Launches SmartStocks
KUALA LUMPUR: Standard Chartered Malaysia has launched SmartStocks, a one-stop online share trading platform. Bringing clients the convenience of trading on 12 exchanges across...
Economists: Global market is already in recession due to coronavirus pandemic
American and European economic experts said that the recession in global economy is already here considering the deepening impacts of the coronavirus disease 2019...
The US, EU sign data transfer deal to ease privacy concerns
BRUSSELS: The European Union and the United States made a breakthrough in their years-long battle over the privacy of data. That flows across the...
India emerged as 5th world’s largest economy with $2.94 trillion GDP
US-based World Population Review announced that India claimed the fifth position in the world’s largest economy rankings for 2019, surpassing the United Kingdom and...
Asia’s US$350bil gas projects intensify the clean energy debate.
SINGAPORE: Asia is pumping billions of dollars into new gas infrastructure. Making the region pivotal in a debate over the role of fossil fuels...
Ukraine war drives the US, EU deal to undercut Russian energy
BRUSSELS: With stunning speed, Russia’s war in Ukraine is driving Western Europe into the outstretched arms of the United States again. Especially apparent when...
Cyberattack in Ukraine war affected thousands across Europe.
A cyberattack targeting a satellite network used by Ukraine’s government and military agencies shortly after Russia’s invasion also knocked offline tens of thousands of...
High energy costs trigger unrest in parts of Europe.
MADRID Spain: High energy costs are stoking unrest in parts of Europe, with Spain deploying more than 23,000 police officers in cars and helicopters....
Biden, Modi to speak as US presses for a hard line...
WILMINGTON USA: President Joe Biden is set to speak with Indian Prime Minister Narendra Modi as he presses world leaders to take a hard...
Intel unveils $88B chipmaking expansion plan for Europe.
LONDON UK: U.S. chipmaker Intel unveiled plans on Tuesday to invest up to 80 billion euros ($88 billion) across Europe. As part of an...
S&P downgrade indicates Russia headed for historic default
BOSTON USA: The credit rating agency Standard & Poor’s has downgraded its assessment of Russia’s ability to repay foreign debt. Signaling rising prospects that...
War censorship exposes Putin’s leaky internet controls
BOSTON: Long before waging war on Ukraine, President Vladimir Putin was working to make Russia’s internet a powerful tool of surveillance and social control...
Three nations to be largest sovereign sukuk issuers
KUALA LUMPUR: According to Moody’s Investors Service, Malaysia, Indonesia, and Turkiye will overtake Saudi Arabia. As the leading sovereign issuers in 2023–2024. Which had...
Asian markets surge as central banks signal support
Share prices in Asia got an unexpected boost following the commitment of the Bank of Japan and the U.S. Federal Reserve to help protect markets from the damaging impact of the coronavirus. The Asian markets reversed early losses as investors put their hopes on a harmonized global monetary policy response. BOJ Governor Haruhiko Kuroda, in a rare […]
US seeks tighter UN sanctions after N. Korea missile test
SEOUL, South Korea: The United States called for tougher U.N. sanctions after North Korea said it test-fired its biggest intercontinental ballistic missile to date....
SpaceX launches 3 visitors to the space station for $55M each
CAPE CANAVERAL, Florida USA: SpaceX launched three rich businessmen and their astronaut escorts to the International Space Station on Friday. For more than a...
Japan and South Korea to continue discussions over export controls
During their marathon session last week, the governments of Japan and South Korea have both agreed to continue their talks about their ongoing trade...
IAEA sends staff to all Ukraine nuclear plants in safety bid
KYIV, Ukraine: In order to lessen the chance of catastrophic mishaps while Russia’s war on Ukraine continues. The International Atomic Energy Agency has dispatched...
US forces returning to Philippines to counter China threats
More than 30 years after the closure of its sizable bases there, the US has been taking steps to rebuild its military power in...
Malaysia not going into recession, growth set to continue in 2023:...
Malaysia is unlikely to enter a recession this year. According to Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus, as strong domestic...
CIA director visits Kyiv, meets with Ukraine’s Zelenskyy
Washington, D.C. According to a U.S. official, Volodymyr Zelenskyy and CIA Director William Burns met in Kyiv last week. This was the most recent...
Bursa Malaysia announces 21 additions to F4GBM index constituents
KUALA LUMPUR: The FTSE4Good Bursa Malaysia (F4GBM) Index and the FTSE4Good Bursa Malaysia Shariah (F4GBMS) Index now has 98 constituents overall. After 21 fresh...
Budget 2023 will be among the focus for the 15th Malaysian...
KUALA LUMPUR: Before Budget 2023, the first topic to be debate in the Parliament session will be important. The parliment debate under Prime Minister Datuk...
China investment will boost green economy in Malaysia, says biz leader
IPOH: According to a prominent member of the business community. Increased Chinese investment will aid Malaysia in its transition to low-carbon development.
According to Datuk...
IMF, World bank express readiness to lend amid virus crisis
The International Monetary Fund (IMF) and the World Bank have already developed contingency plans to be able to provide funding to the global fight against the coronavirus (COVID-19). IMF spokesman Gerry Rice said that the institutions are willing to lend capital should any state government requests for assistance. “We have various financial instruments that could […]
UN chief: Don’t let Russia crisis fuel climate destruction.
BERLIN Germany: Countries scrambling to replace Russian oil, gas, and coal supplies with any available alternative. May fuel the world’s “mutually assured destruction” through...
Europe bans Russian diesel, other oil products over Ukraine
FRANKFURT Germany: In an effort to reduce its reliance on Moscow for energy and as retaliation for its invasion of Ukraine. Europe put a...
Crude oil prices stay muted in 1H amid altered oil flows...
Dated Brent prices are expected to remain relatively flat in the first half of 2023. On ample inventories despite persistent supply risks. With an...
European inflation soars to a record 7.5% on fuel, food costs.
LONDON: Inflation in Europe soared to another record, according to new EU figures released in a fresh sign. That rising energy prices fueled by...
Biden will travel to Europe for Ukraine talks: White House
WASHINGTON USA: — President Joe Biden will travel to Europe next week for face-to-face talks with European leaders about the Russian invasion of Ukraine,...
Asia-Pacific leaders condemn war, renew calls for open trade
Bangkok, Thailand, Saturday, Nov. 19, 2022: Leaders from the Asia-Pacific region demanded an end to Russia's conflict with Ukraine and committed to guiding the...
EU officials visit Kyiv as Russia strikes civilian target
KYIV, Ukraine: Leading representatives of the European Union arrived in Kyiv. For talks with Ukrainian authorities as rescue workers combed through the debris of...
Indonesia’s Asean presidency to focus on economic growth, says senior minister...
Jakarta Indonesia: According to a senior economic minister, Indonesia’s leadership of Asean in 2023 will primarily be focus on fostering sustainable growth in the...
Bank Negara issues exposure draft on licensing and regulatory framework for...
Following the release of the discussion paper earlier this year. Bank Negara Malaysia (BNM) today released the exposure draft on the licensing and regulatory...
Hong Kong once again ranked as world’s freest economy
HONG KONG: The Hong Kong Special Administrative Region government on Thursday welcomed the Fraser Institute’s recognition of the territory as the world’s freest economy.
In...
International trade rises as commerce ministry lays out 2023 plans
Sorasak was speaking during the first of the two-day annual meeting of the ministry of trade. When officials discussed the accomplishments of the Cabinet-level...
Malaysia attracts RM264.6bil approved investments in 2022, 2nd largest ever recorded:...
KUALA LUMPUR: In 2022, Malaysia will have approved RM264.6 billion worth of investments. With the services sector taking the lion’s share of the market,...
EU eyes Russian officials, banks, industry for sanctions.
BRUSSELS: As part of a fresh wave of sanctions meant to increase pressure on Moscow over its involvement in the crisis in Ukraine. The...
UN to vote on suspending Russia from the rights council.
UNITED NATIONS: The U.N. General Assembly will vote on whether to suspend Russia from the U.N.’s premier human rights body. The move was initiated...
Asia stocks edge up despite global growth worries.
Hong Kong and China stocks helped up Asian shares despite mounting concerns about an impending economic slowdown and the speed at which the Federal...
Arizona Gov. Ducey hails Taiwan semiconductor investment
TAIPEI, Taiwan: Arizona Gov. Doug Ducey on Thursday hailed economic and educational cooperation with Taiwan. Marked by a $12 billion investment in his state...
US-Iran tensions put world market on edge
"The new year has started with a bang in so far as volatility is concerned."
Thus, said technical analyst Fawad Razaqzada at Forex.com noting
that the...
UK inflation hits a 30-year high of 6.2% as Sunak readies...
LONDON UK: British inflation shot up faster than expected last month to hit a new 30-year high. Worsening a historic squeeze on household finances...
Biden waiving the ethanol rule in a bid to lower gasoline...
MENLO, Iowa USA: With inflation at a 40-year high, President Joe Biden journeyed to corn-rich Iowa on Tuesday. To announce a modest step aimed...
UN worries about unemployment of 470M people worldwide
The United Nations’ International Labor Organization (ILO) said it is really worried about the lack of decent jobs of nearly half a billion people...
Biden pledges new Ukraine aid warns Russia on chemical weapons.
BRUSSELS Belgium: President Joe Biden and Western allies pledged new sanctions and humanitarian aid. In response to Vladimir Putin’s assault on Ukraine. But their...
Malaysia exports rise 9.8% to RM204.99bil in Feb
KUALA LUMPUR: From the same month the year before, Malaysia’s exports increased by 11% to RM204.99 billion in February 2023. With both export and...
China’s new coronavirus hits global markets
"The cost to the global economy can be quite staggering in negative GDP terms if this outbreak reaches epidemic proportions."
Thus,
said Stephen Innes, an...
Malaysia Banks to be held up by resilient earnings
PETALING JAYA: As investors seek refuge in better yielding stocks amid recessionary fears, banks may notice an increase in interest.
Despite the fact that financial...
Global authorities warn of fraud and scam amid coronavirus pandemic
International law enforcement agencies are encouraging the public to be more vigilant as scammers and fraudsters take advantage of the coronavirus pandemic to prey...
Thai regulations hurdle Tesco’s sale of Asian assets
Tesco's plan to sell its Asian assets may face scrutiny due to the new anti-competition regulations imposed by the Thai government.
Sakon Varanyuwatana, chairman...
Google offers $340 million in Ads credits to help small businesses
As part of its coronavirus response package, Google is offering $340 million in Ads credits to small and medium-sized businesses that have active accounts...
The U.S. imposes fresh sanctions on Russia over the Ukraine invasion.
BRUSSELS/WASHINGTON: The United States on Thursday imposed fresh sanctions on Russia. Targeting dozens of Russian defense companies. Hundreds of members of its parliament, and...
Malaysian banks’ loan growth to stay at 5-6% in 2023 on...
S&P Global Ratings anticipates that the Malaysian banking sector will continue to expand loans at a rate of 5% to 6% in 2023 as...
World Bank official says war-driven oil price hikes to slash growth...
WASHINGTON: Persistent high oil prices prompted by Russia’s invasion of Ukraine could cut a full percentage point off the growth of large oil-importing developing...
KLCI falls as investors take profit, ringgit at 4.4760
On Friday, the Ringgit increased its advances and reached a three-month high. At 5 pm, the local currency was trading at 4.4760, up 0.43%...
Guyana OKs Exxon’s $10B Yellowtail offshore oil project.
GEORGETOWN, Guyana: Guyana’s government has granted permission for U.S. supermajor ExxonMobil to develop a fourth offshore oil and gas field. The company said it...
EU slams ‘war crimes’ in Ukraine but new sanctions unlikely
BRUSSELS Belgium: European Union countries accused the Russian armed forces of committing war crimes in Ukraine. But appeared unlikely to impose new sanctions on...
Europe agrees to ban Russian coal but struggles with oil, gas
The European Union nations have agreed to ban Russian coal the first sanctions on the vital energy industry over the war in Ukraine. But...
Germany seeks to boost renewable energy and cut Russian imports.
BERLIN Germany: The German government unveiled a major package of reforms. To boost the production of renewable power, and meet its climate goals. And...
Global semiconductor equipment sales to hit record US$108.5bil this year
PETALING JAYA: The Semiconductor Equipment Manufacturers Industry, based in the US. Predicts that global sales of all semiconductor manufacturing equipment by original equipment manufacturers...
European banks allow delays in mortgage payments to soften coronavirus impact
In efforts to ease the economic blow of the Coronavirus Disease 2019 (COVID-19) in Europe, banks in Italy and the United Kingdom have announced...
Asian shares rise ahead of Fed decision on rate hike
TOKYO Japan: Asian shares rose as investors awaited a widely anticipated decision by the U.S. Federal Reserve on interest rate policy.
Japan’s benchmark Nikkei 225...
The US to seek Russia’s suspension from Human Rights Council.
BUCHAREST, Romania: The United States plans to seek a suspension of Russia from its seat on the U.N.’s top human rights body. Pointing to...
Congress votes to suspend Russia’s trade status, enact an oil ban
WASHINGTON USA: Congress voted overwhelmingly to suspend normal trade relations with Russia and ban the importation of its oil. Ratcheting up the U.S. response...
Asia stocks extend losses as Ukraine war, China’s covid-19 surge hit...
SYDNEY: Asian stocks were in the red on Tuesday as surging COVID-19 cases in China hit the confidence of investors. Who is already worried...
Bursa Malaysia snaps losing streak, ringgit weakens to 4.5028
KUALA LUMPUR: Bursa Malaysia finished higher on Wednesday in the absence of market-moving factors. While the ringgit weakened to a 24-year low against the...
Three Malaysian execs face money laundering charges
Former Federal Land Development Authority (FELDA) Chairman Tan Sri Shahrir Abdul Samad and former International Trade and Industry Minister Datuk Seri Ahmad Maslan were arrested on...
Volcano eruption won’t hit Philippines GDP, says Economist
The National Economic and Development Authority (NEDA) of the Philippines said that the economic impact of Taal Volcano’s eruption does not pose a significant slowdown...
Biden bans Russian oil, warns of higher prices at US pumps.
WASHINGTON: President Joe Biden announced that the U.S. will ban all Russian oil imports. Toughening the toll on Russia’s economy in retaliation for its...
EcoWorld in end-financing tie-up with Public Bank
PETALING JAYA: Eco World Development Group Bhd (EcoWorld) has inked a memorandum of understanding (MoU) with Public Bank Bhd to offer a special end-financing...
Vietnam lures US$3.1 billion in FDI in first two months of...
In the first two months of 2023, Vietnam committed $3.1 billion in total foreign direct investment. This is a 38% decrease from the same...
What to expect next as US-China trade deal gets inked
Investors across the globe can now expect a "fair and reciprocal trade" said US President Donald Trump as his country’s deal with China finally got...
Greenhouse gas emissions rose in Rhode Island.
While Rhode Island is trying to reduce greenhouse gas emissions and set an example for other states environmental officials said Friday that emissions were...
Brunei gets top ranking for business regulation from top international economic...
BANDAR SERI BEGAWAN: Brunei has performed very well in regulation and secured second ranking globally. According to the Canadian conservative think tank, Fraser Institute’s...
South Korea chip inventory climbs the fastest in 27 years
In January, South Korea’s semiconductor inventory increased at its quickest rate in in 27 years. Highlighting a protracted tech recession that is holding back...
Australia pledges additional $80 billion coronavirus stimulus to rescue jobs
The Australian government announced that it plans to spend $79.85 billion (A$130 billion) to subsidize the salaries of more than 6 million workers who...
Malaysia maintains stock trading amid coronavirus lockdown
The Malaysian government and Bursa Malaysia have reiterated that they will not suspend the local stock exchange despite the implementation of lockdown in the...
IBM partners with new chipmaker Rapidus to make up lost ground
TOKYO: IBM Corp. claims that it is collaborating with Rapidus a recently established chipmaker sponsored by the Japanese government. To assist it to produce...
Hong Kong’s financial sector unmoved by protests
Hong Kong's Chief Executive Carrie Lam said their city’s financial strength remains intact despite the month-long protests launched against the government that has also...
Australia wards off recession through $11 billion stimulus package
The Government of Australia has recently unveiled a stimulus package worth $11.4 billion (A$17.6 billion) designed to curb recession due to the economic impact...
Telenor and Axiata win key approval for multi-billion dollar Malaysia tie-up
OSLO: Malaysian telecoms firm Axiata Group and Norway's Telenor ASA have been given clearance from the Securities Commission Malaysia for the proposed merger of...
Zelenskyy evokes Holocaust as he appeals to Israel for aid.
JERUSALEM Israel: Ukraine’s president called on Israel to take a stronger stand against Russia. Delivering an emotional appeal that compared Russia’s invasion of his...
Council of Europe expels Russia from human rights body.
STRASBOURG, France: The Council of Europe on Wednesday expelled Russia from the continent’s foremost human rights body in an unprecedented move over Moscow’s invasion...
WHO says 99% of the world’s population breathes poor-quality air.
GENEVA Switzerland: The U.N. health agency says nearly everybody in the world breathes air that doesn’t meet its standards for air quality. Calling for...
Franchise sales to increase to RM23bil by 2025
PETALING JAYA: Malaysia’s franchise industry is expected to see its sales value increase to RM22.66bil by 2025 from RM14.65bil in 2020, says Prime Minister...
Global stock markets stumble as coronavirus pandemic spreads
Not long enough after the 2008 global financial crisis, the world was rocked anew as the stock markets in different countries have plummeted due...
Asian stock markets mixed ahead of latest US jobs reading
Asian stock markets were mixed ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging...
Malaysia consumer sector expected to remain robust
PETALING JAYA: The consumer sector will continue to grow well, Due to strong domestic demand and supply chain enhancements. That will make restocking operations...
EU approves new sanctions against Russia over Ukraine war
BRUSSELS: The European Union announced on Thursday that it had agreed on a fresh round of sanctions meant to increase the pressure on Russia...
The US hits Russia with ‘war crimes’ sanctions, Europe following.
WASHINGTON USA: The U.S. rolled out a new wave of financial sanctions on Wednesday against Russia. That President Joe Biden said would place a...
EU to mobilise RM47bil for Asean investments
PETALING JAYA: The European Union (EU) and its member states have announced a mobilization of €10 billion (US$10.59 billion or RM47.04 billion). As part...
Japanese couple who operated an educational institution sentenced to prison for...
Yasunori Kagoike, the former head of a Japanese institution named Moritomo Gakuen, and his wife, Junko, were found guilty of defrauding the central and local governments. The couple had been indicted for receiving public subsidies worth ¥56.4 million from the national government for the construction of an elementary school in Toyonaka, Osaka Prefecture between 2016 […]
The U.S. reinstates 352 product exclusions from China tariffs.
WASHINGTON USA: The U.S. Trade Representative's office said on Wednesday it has reinstated 352 expired product exclusions from U.S. "Section 301" tariffs on Chinese...
UK regulator revokes license of Russia-backed broadcaster RT.
LONDON UK: Britain’s communications regulator revoked the license of the state-funded Russian broadcaster RT amid concern that its coverage of the war in Ukraine...
Boustead Plantations expects continued volatility in palm oil prices
KUALA LUMPUR: Boustead Plantations Bhd stated that due to high stock levels in Malaysia and Indonesia, palm oil prices are projected to be highly...
Malaysian banks rating intact despite US bank failures – RAM Ratings
The bankruptcy of the Silicon Valley Bank (SVB) and two other smaller banks last week has little bearing on the ratings of Malaysian institutions,...
Singapore bank stocks hit by Credit Suisse crisis
SINGAPORE: Local bank stocks fell when the market started yesterday morning. Due to concerns that the crisis enveloping Switzerland’s second-largest bank and a succession...
IMF set to provide $2.9 billion to help crisis-hit Sri Lanka
COLOMBO, Sri Lanka: The International Monetary Fund has reached a preliminary agreement to provide Sri Lanka with $2.9 billion, over four years to help...
Indonesia hikes fuel prices by 30%, cuts energy subsidies
JAKARTA, Indonesia: Fuel prices increased by about 30% across Indonesia on Saturday. After the government reduced some of the costly subsidies that have kept...
Hong Kong’s Cathay Pacific flags up to US$893.77 million loss in...
HONG Kong:Despite predicting a loss of between HK$6.40 billion (US$817.18 million) and HK$7.00 billion for the fiscal year 2022, Cathay Pacific Airways Ltd. underlined...
Bank Negara raises OPR by 25bps to 2.5%, as expected
KUALA LUMPUR: Bank Negara Malaysia (BNM)’s Monetary Policy Committee (MPC) raised its overnight policy rate (OPR) by 25 basis points (bps) to 2.5% on...
Boris Johnson: Russian win would bring ‘age of intimidation’
LONDON UK: British Prime Minister Boris Johnson said that Russia’s invasion of Ukraine was a “turning point for the world.” Arguing that a victory...
Coronavirus hammered Hong Kong’s economy worse than protests
The trading in Hong Kong has been hit harder by the novel coronavirus compared to the six months of anti-government protests, according to financial...
Asian FX, stocks rise as strong U.S. GDP data aids risk...
The Philippine Peso and the Malaysian Ringgit led advances among Asian currencies on Friday. As overnight data revealed the U.S. economy’s resiliency, increasing investor...
South Korea faces economic difficulty as virus cases climb
From only 31 cases on February 18, South Korea has confirmed a sudden increase in its coronavirus cases that reached 833 as of Monday afternoon. The government over the weekend declared that the virus alert has been raised to its highest level and intensified quarantine measures to contain the virus spread. Aside from human infection, South […]
SK Hynix to invest US$11bil in new South Korea chip plant
SEOUL: SK Hynix Inc, the world's second-largest memory chip maker, said it will invest 15 trillion won ($10.9 billion) over the next five years...
Lithuania cuts off Russian gas imports and urges the EU to...
VILNIUS, Lithuania: Lithuania says it has cut itself off entirely from gas imports from Russia. Apparently becoming the first of the European Union’s 27...
China to destroy banknotes from coronavirus-hit areas
All paper currency from hospitals, markets, and buses in some regions of China that have been hard hit by the coronavirus, officially named Covid-19,...
US accuses Russia of endangering nuclear arms control treaty
Washington, D.C. The Biden administration asserted on Tuesday that Russia’s refusal to permit the restart of on-the-ground inspections poses a threat. To the New...
EV-related stocks advance after Tesla gets approval to import electric vehicles...
KUALA LUMPUR: Following the Ministry of International Trade and Industry’s (Miti) approval of Tesla’s application to import battery electric vehicles (BEVs) into Malaysia. The...
Ambank Aids SMEs Via Strategic Partnership With PUMM
AmBank has entered into a two-year strategic partnership with Persatuan Usahawan Maju Malaysian (PUMM). Which will pave the way for AmBank to work with...
Gas station owner charged for $500M fraud scheme
The owner of a California-based gas station face charges for allegedly stealing around $500 million government funds to expand a biodiesel fraud scheme with...
UK financial system threatened by climate change
Banks and insurers in the United Kingdom are critically horrified by the huge financial risks that climate change brings.
With environment and economy being...
Chile ratifies CPTPP, a big opportunity for Malaysian businesses: Tengku Zafrul
KUALA LUMPUR: According to Tengku Datuk Seri Zafrul Abdul Aziz, Minister of International Trade and Industry, Chile's decision to ratify the Comprehensive and Progressive...
Malaysia end-August palm oil stocks hit 2 million tonnes for first...
KUALA LUMPUR: Malaysia's palm oil inventories in end-August likely swelled above 2 million tonnes for the first time in more than two years lifted...
Thailand’s 5G auction raises over 100 billion baht
The National Broadcasting and Telecommunications Commission (NBTC) of Thailand has successfully concluded its 5G spectrum auctions on Sunday which raised a total of 100.52 billion baht...
Biden’s China ‘pivot’ complicated by Russia’s war in Ukraine.
WASHINGTON USA: President Joe Biden set out to finally complete the “pivot to Asia.” A long-sought adjustment of U.S. foreign policy to better reflect...
Malaysia attracts RM123.3 billion worth of approved investments for Jan-June 2022...
KUALA LUMPUR: Malaysia has attracted RM123.3 billion (US$28.0 billion) worth of approved investments in the manufacturing, services, and primary sectors involving 1,714 projects from...
Global markets rise as US nears trillion-dollars’ worth stimulus package
After a sudden sink last month, world stock markets sharply soared Tuesday following the announcement of the United States that it is now working...
Tesla’s market value surpassed Ford’s and General Motors’
The market value of Californian automotive company Tesla has increased by 7%, surpassing that of Ford’s and General Motors’ combined worth.
For the first time,...
Australia’s bushfires hit businesses leading to more than $2 billion economic...
Several companies in Australia, including resorts, factories and insurance firms, have been reportedly hit as the summer’s devastating bushfires continue to rage.
With
fires ripping through...
Filipinos struggle amid coronavirus quarantine
Effective March 16, the Philippines’ largest island, Luzon, has been placed under “enhanced community quarantine” as the government grapples to contain the fast spreading...
Malaysia unlikely to go into recession due to economic diversification
KUALA LUMPUR: Malaysia is not likely to slip into a recession due to the diversified structure of its economy. Which is less dependent on...
Bank exec barred by FED for involvement in Malaysian scandal
A senior executive of Goldman Sachs Group was permanently banned from working in the banking industry after he was found to have a role...
Global stock markets slip on Christmas Eve
With numerous major global markets
closed for Christmas, the equity markets across the globe mostly slipped in a subdued
trading held few hours before the 25th....
Malaysian economy relatively resilient in 2023, says ICAEW
PETALING JAYA: The Institute of Chartered Accountants in England and Wales forecasts a bleak start for Asian economies in 2023. But it won’t last...
Founder of India’s Yes Bank faces money laundering charges
The founder of one of India’s biggest financial institutions—Yes Bank, was arrested on Sunday by the financial crime detectives over money laundering allegations....
Singapore core inflation cools while acceleration risks loom
SINGAPORE: Core inflation in Singapore cooled slightly last month. But is expected to pick up further in the near term, setting the stage for...
Ukraine war imperils wheat, but farmers are in no rush to...
DUBAI, United Arab Emirates: Worldwide, farmers like are weighing whether to change their planting patterns and grow more wheat this spring. As the war...
Ukraine reports 300 dead in airstrike on Mariupol theater
KYIV, Ukraine: About 300 people were killed in the Russian airstrike last week on a Mariupol theater that was being used as a shelter....
Telemedicine owners charged in million dollars’ worth fraud scheme
The owners of telemedicine companies Advantage Choice Care and Tele Medcare were charged for allegedly masterminding a $56 million healthcare fraud scheme.
Reinaldo Wilson and...
World stocks rise as Mid-East tensions wane
The world's stocks reached a record high with more market gains following the lower tensions in the Middle East.
Investors
have reportedly bet on faster global...
Apple won’t hit revenue forecasts due to coronavirus
American multinational technology firm Apple said during the investor update that it will not meet its target earnings for March as its production and...
UK’s Clydesdale and Yorkshire Banks hit due to customers’ wage delays
British banks Clydesdale and Yorkshire are currently in hot water following complaints over errors in customers’ salaries and payments.
The patrons of the two banks
took their...
China’s Ant Financial applies for banking license in Singapore, joining Grab...
Shortly after Razer and Grab, world’s highest-valued FinTech company “Ant Financial” applied for a digital wholesale banking license in Singapore in its aim to promote...
EU and UK hit Russia with wider sanctions that target luxury
BRUSSELS Belgium: EU and UK hit Russia with more sanctions this time victim is Pure-bred horses, truffles, a soccer club owner, and a media...
Indonesian bank trims rates to head off coronavirus impact
The central bank of Indonesia has cut its interest rates by 25 basis points to 4.75% to prevent the impact of the COVID-19 outbreak that hammers the country’s travel, tourism and trade industries. Although Indonesia has not reported any confirmed case of the deadly virus, officials are worried about the fallout from the epidemic. The closure […]
World Bank President urges lawmakers to prioritize debt management to avert...
As the World Bank warns a
‘global wave of debt,’ its President, David Malpass stressed that “debt
management and transparency need to be top priorities for...
US and China vowed to resolve economic disputes through comprehensive dialogue
Apart from inking the Phase 1 trade deal between the United States and China on January 15, the two nations have also agreed to...
WTO warns of ‘real’ recession risk in some major economies
Indonesia's NUSA DUA: The crisis in Ukraine, rising food and gasoline prices, and surging inflation have all contributed to a cloudy view of the...
Malaysian fugitive Jho Low spotted in virus-hit Wuhan
The fugitive Malaysian financier Low Taek Jho, commonly known as Jho Low, was recently spotted in the coronavirus-center Chinese city according to Malaysian authorities. “Previously, we did receive intelligence that he was active in Wuhan,” said Inspector-General of Police Abdul Hamid Bador. Low is wanted for his huge role in a massive graft scandal, siphoning […]
New China-Laos-Thailand train builds efficiency for China and Asean trade
BEIJING: The China-Laos Railway’s extension, the round-trip China-Laos-Thailand train, was successfully launched.
Trade between China and Asean members is anticipated to gain new momentum thanks...
Silicon Valley Bank (SVB) Financial seeks bankruptcy protection as banking turmoil...
Days after its former subsidiary Silicon Valley Bank (SVB) was taken over by US regulators. SVB Financial Group announced on Friday that it had...
Oil price plunges as Saudi Arabia retaliates with Russia
The prices of oil fell sharply on Monday following Saudi Arabia’s launch of price war against Russia which is reportedly unwilling to cut its...
Russian space chief: Sanctions could imperil space station.
MOSCOW: The head of Russia’s space program said that the future of the International Space Station hangs in the balance. After the United States,...
President Trump boasts US’ investment boom in Ohio rally
Speaking in front of thousands of supporters during a campaign rally held Thursday night in Toledo, Ohio, US President Donald Trump shared that his...
Malaysia’s total trade up 8.6% to RM236bil in December 2022
Malaysia’s total trade for December 2022 amounted to RM236.0 billion. An increase of 8.6 per cent year-on-year (y-o-y). With exports rising 6.0 per cent...
Silicon Valley Bank SVB run exposes rifts in venture capital world
SAN FRANCISCO: The failure of Silicon Valley Bank (SVB) has exposed differences within the typically close-knit venture capital (VC) industry. With some investors blaming...
Oil prices climb after Opec+ keeps output cut targets, China eases...
As a result of OPEC+ countries maintaining their output objectives in advance of a European Union ban. The start of a price restriction on...
Eurojust Facilitates Crackdown on €645 Million Medicinal Cannabis Investment Fraud Across...
Europe, 22 April, 2024 Eurojust has played a pivotal role in assisting national authorities throughout Europe in combating a significant fraud scheme involving counterfeit...
New Russian offensive underway in Ukraine, says NATO
KYIV: Days before the first anniversary of Moscow’s invasion heavy artillery bombardment was being directed at the eastern Ukrainian city of Bakhmut. As the...
MBSB Bank, Prec ink pact to drive cashless business transactions among...
PKNS Real Estate Sdn Bhd (Prec) and MBSB Bank Bhd (MBSB) have signed a memorandum of understanding (MoU) to work together. To promote cashless...
Malaysians brace for economic and social impacts of lockdown
In Malaysia, more than 32 million people will be confined to their homes beginning March 18 as the government’s nationwide lockdown takes effect following...
Maybank introduces financing solution for EV, hybrid users
KUALA LUMPUR: Malayan Banking Bhd (Maybank) has unveiled a groundbreaking integrated auto finance solution that addresses all facets of owning an electric vehicle (EV)...
Russians shift focus from Kyiv, scaling back goals in war?
WASHINGTON USA: Russian forces in Ukraine seem to have shifted their focus from a ground offensive aimed at Kyiv the capital. Instead, prioritize what...
NATO planes to be sent to Romania to eye Russian activity
Romania’s BUCHAREST: NATO announced that it would send three surveillance aircraft to Romania the next week. The purpose is to conduct reconnaissance flights and...
Malaysia’s palm oil stocks slide 6.56% in Feb
KUALA LUMPUR: The Malaysian Palm Oil Board reported that the country’s overall palm oil stockpiles decreased by 6.56% to 2.11 million tonnes in February...
Poland to end Russian oil imports; Germany warns on gas.
WARSAW, Poland: Poland announced steps to end all Russian oil imports by year’s end. While Germany issued a warning about natural gas levels and...
Retail loan growth likely to remain strong
PETALING JAYA: Despite waning sectoral tailwinds, banking stocks are still regarded as “safe” investments. In the face of potential economic difficulties.
“The banking industry can...
Oil prices ease on symbolic OPEC+ output cut
SINGAPORE: OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy. Underlining their unhappiness as recession...
New rules for companies on climate risks proposed by SEC
WASHINGTON USA: Companies would be required to disclose the greenhouse gas emissions they produce. And how climate risk affects their business under new rules...
Russia’s invasion drives NATO rethink of Europe force stance.
Brussels, Belgium: In an underground archive below NATO’s headquarters lies a key document. That sets out the vision of both NATO and Russia about...
RHB Bank on course to meet KPI targets
Despite the difficult operating environment, RHB Bank Bhd is on pace to achieve the majority of its key performance indicator (KPI) targets for the...
Russian stock market, crushed by war, will partially reopen
NEW YORK USA: Russia plans to reopen its stock market for limited trading. Nearly one month after shares plunged and the exchange was shut...
Prices of crude oil soar after Iran’s missile attacks on US...
The prices of crude oil increased to $65.65 equivalent to 4.5% per barrel in Asian trade while global stock prices fell down.
Reports
claim that these...
Putin wants ‘unfriendly countries’ to pay rubles for gas.
MOSCOW Russia: President Vladimir Putin announced that Russia will demand that “unfriendly″ countries pay for Russian natural gas exports only in rubles from now...
Money trader Travelex down after getting victimized by cyberattack
The London-based foreign exchange company ‘Travelex’ was forced to shut down its online systems across the globe after falling into cyber traps on New...
Maybank to facilitate the trading of shariah-compliant securities on Bursa under...
KUALA LUMPUR: Under the Islamic Securities Selling and Buying — Negotiated Transaction (ISSBNT) framework Bursa Malaysia has added Maybank Investment Bank Bhd(Maybank IB) as...
Philippines’ Central bank warns of fake banknote designs circulating on social...
The Central Bank of the Philippines, or “Bangko Sentral ng Pilipinas” (BSP) in Filipino translation, warned the public against fake designs of banknotes that were recently posted on social media. BSP released an advisory on January 23 saying that the postings were made by an existing Facebook account with the user name “Bangko Sentral ng […]
Philippines deports 9 Japanese fraud suspects
Nine Japanese nationals who are wanted for telecommunications fraud were deported Monday by the Bureau of Immigration (BI) of the Philippines. The suspects, according to the Business World, were identified as Irie Dai, Ishii Kyogo, Hamaoka Kantaro, Maeyama Takuto, Tanaka Kazuya, Yoshida Takeshi, Murata Seiichi, Kouki Shouji, and Imizumi Ryo. Media reports said that the […]
Nissan sues former chairman and seeks $91 million damages
Japanese auto giant Nissan Motor Co. has sued its former chairman Carlos Ghosn as it seeks $91 million (for ¥10 billion) in damages.
The civil...
Philippines’ credit rating gets upgrade due to “strong economy”
American credit watcher Fitch Ratings was impressed with the “very strong” macroeconomic story of the Philippines and gave it an upgraded outlook.
The Philippines is...
Canadian Conman Patrice Runner Sentenced to 10 Years for Orchestrating $175m...
Canada, 22 April, 2024 A Canadian conman, Patrice Runner, 57, holding citizenship with both Canada and France, has been sentenced to 10 years in...
Philippines stocks plunge deepest since 2016 due to coronavirus
The Philippines has recorded its deepest fall in shares as growing concerns over coronavirus hit Asian and global markets. Based on reports, the Philippine Stock Exchange Index plunged 4.3 % on Wednesday trading, tumbling the most since January 2016. The Bankers’ Association of the Philippines also said that the peso succumbed to the dollar, finishing […]
Biden Urges Swift Congressional Action on Aid to Israel and Ukraine...
US, 22 April, 2024 President Joe Biden is urging Congress to swiftly pass legislation providing aid to Israel and Ukraine following Iran's recent attack....
