Top Australian investment bank Macquarie Group reported its annual profit fell by a third, the sharpest decline in 15 years, as stabilising energy markets hammered its commodities trading unit and it made less money selling green energy assets.

Australia's Macquarie sees biggest profit dip in 15 years on commodities downturn

The Internal Revenue Service (IRS) said it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years as it ramps up enforcement spending and hiring to boost collections.

US IRS targets sharply higher audit rates on big firms, partnerships, millionaires

Türkiye stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing a "worsening humanitarian tragedy" in the Palestinian territories.

Türkiye halts all trade with Israel, cites worsening Palestinian situation

The El Nino phenomenon hitting the country is expected to continue for the next two months, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.

El Nino to last two more months; 2024 could be Malaysia’s hottest year — Nik Nazmi 

Protasco Bhd, which has businesses ranging from hotel to engineering, said on Thursday it has received an offer to buy its unit Ikram Education Sdn Bhd which owns the Infrastructure University Kuala Lumpur (IUKL).

Protasco gets offer from HK firm to buy its university unit

Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11.4% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue, coupled with higher finance income and share of results of a joint venture (JV).

Westports' 1Q net profit up 11% on higher container revenue, finance income and share of results of JV

The Philippines summoned a Chinese diplomat on Thursday to protest Beijing's use of water cannon against Filipino vessels at a disputed shoal in the South China Sea, describing it as harassment and "dangerous manoeuvres".

Philippines summons Chinese diplomat over South China Sea flare-up

Yinson Production, the offshore production business unit of Yinson Holdings Bhd, has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the pre- and post-delivery financing of the Agogo floating, production, storage and offloading (FPSO) vessel, which will be deployed in Angola.

Yinson unit secures single largest term loan of US$1.3b to finance Agogo FPSO delivery

New York police officers arrested almost 300 people as they broke up escalating pro-Palestinian protests at two colleges amid an outpouring of anger over the Israel-Hamas war.

New York police arrests over 300 protesters in crackdown on college campuses

DBS Group Holdings Ltd’s chief executive officer Piyush Gupta expects another year of record profit after Singapore’s biggest lender delivered better-than-expected results thanks to strong lending and wealth fees.

DBS CEO Gupta sees another record year after posting better than expected 1Q earnings 

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets.

KFC parent Yum reports surprise drop in global same-store sales on weak demand

Prime Minister Datuk Seri Anwar Ibrahim has emphasised that any party associating him and the government with a purported casino project in Forest City must face legal action.

Those who spread lies on Forest City casino project ought to be jailed, says PM

Prime Minister Datuk Seri Anwar Ibrahim on Wednesday announced that civil servants will enjoy a salary hike of more than 13% starting December this year, among the highest increase in the nation’s history.

Anwar announces over 13% salary hike for civil servants

Prime Minister Lee Hsien Loong called on Singaporeans to rally behind his successor as he prepares to step aside later this month after a two decades-long stint in power.

Lee asks Singapore to rally behind his successor in final address

(May 3): Iran has released the crew of a seized Portuguese-flagged ship linked to Israel, but remains in control of the vessel itself, Foreign Minister Hossein Amirabdollahian said.

Iran says crew of Israel-linked ship freed

KUALA LUMPUR (May 3): Digital Nasional Bhd (DNB) will hold a meeting next week to review due diligence findings on the 5G network rollout, Digital Minister Gobind Singh Deo said on Friday.

Digital Nasional to meet next week to discuss due diligence on 5G network — minister

Google has asked a US judge not to impose sweeping changes to the Alphabet unit's app store Play that were proposed by Fortnite maker Epic Games in the companies' closely-watched antitrust fight.

Google defends app store, fighting Epic Games' bid for major reforms 

(May 3): Asian currencies are poised for their best week in nearly two months as regional policymakers increased their intervention efforts and rhetoric.

The Bloomberg Asia Dollar index has gained by 0.3% this week so far, the biggest advance since early March, supported by inter...

Asian currencies set for best week in two months on intervention 

Asian stocks surged to their highest in 15 months on Friday led by tech and Hong Kong stocks, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected intervention from Japanese authorities.

Asian stocks surge; yen extends gains to cap wild week

Societe Generale SA equities traders outshone their bond-trading counterparts for a fourth straight quarter, with revenue from the unit helping the French bank beat estimates for profit in the three months through March.

Societe Generale profit beats estimates as equities help lift results 

Oil prices edged up on Friday on the prospect of Opec+ continuing output cuts, but the crude benchmarks were headed for the steepest weekly losses in three months on demand uncertainty and easing tensions in the Middle East reducing supply risks.

Oil prices set for steepest weekly drop in three months

SVB Financial Group, the former parent company of Silicon Valley Bank, said it reached a deal to sell its venture capital unit to a newly created affiliate of Pinegrove Capital Partners.

SVB Financial to sell venture capital business to Pinegrove

Money is pouring into Taiwan exchange-traded funds as investors scramble for exposure to the artificial intelligence supply chain, raising analyst and regulator caution just as a rally in the sector has turned fickle and volatile.

Investors flood into Taiwan ETFs on AI boom, unnerving some

Thailand's headline inflation rate rose for the first time in seven months in April but remained below the central bank's target range of 1% to 3% for a 12th consecutive month, data showed on Friday.

Thai inflation rate positive in April, still below central bank target

Shares of Ajinomoto (Malaysia) Bhd surged to their highest in nearly six years after the food and seasoning company announced the ex-date for its special dividend.

Ajinomoto Malaysia surges to highest in nearly six years

Malaysia’s planned increase in civil servant salaries will boost earnings of RCE Capital Bhd, which mainly provides consumer financing to government employees, Maybank Investment Bank (Maybank IB) said and upgraded the stock to ‘buy’.

Higher civil servant salaries will boost RCE Capital's earnings, says Maybank IB

KUALA LUMPUR (May 3): Digital Nasional Bhd (DNB) will hold a meeting next week to review due diligence findings on the 5G network rollout, Digital Minister Gobind Singh Deo said on Friday.

Asian stocks surged to their highest in 15 months on Friday led by tech and Hong Kong stocks, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected intervention from Japanese authorities.

The rally in tech heavyweights extended into late hours after better-than-estimated results from&nbsp;Apple Inc, with the iPhone maker also raising its dividend and announcing plans to buy back more stock.

Tech jumps in late hours on Apple’s solid outlook

Türkiye&nbsp;stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing a "worsening humanitarian tragedy" in the Palestinian territories.

Hong Kong stocks are on their longest-winning streak since 2018, adding to signs that a recovery in one of the worst-performing markets last year is well underway.

Hong Kong stocks are on their longest winning streak since 2018

Malayan Cement Bhd will likely report strong third quarter earnings when the company reports its results by this month-end, as volume and average selling prices stay high, CGS International said.

Malayan Cement likely to report strong 3Q results, says CGS International

KUALA LUMPUR (May 3): Engineering firm UUE Holdings Bhd said on Friday that it has signed an agreement with M&amp;A Securities to underwrite its initial public offering (IPO) on the ACE Market.

UUE signs underwriting deal with M&A Securities for ACE Market IPO

Apple's quarterly results and forecast beat modest expectations on Thursday, as the iPhone maker unveiled a record share buyback program, sending its stock up almost 7% in extended trade.

Apple unveils record US$110b buyback as results beat low expectations

Frontken Bhd expects a stronger performance in the second half of this year (2HFY2024) after its first quarter results came in within expectations, according to Philip Capital.

Frontken expects stronger performance in 2H — Philip Capital

KUALA LUMPUR (May 3): KL Wellness City Sdn Bhd, through KL International Hospital Sdn Bhd, has launched KL International Tertiary Hospital as part of the first phase of the KL Wellness City township in Bukit Jalil here on Thursday (May 2).

KL Wellness City launches tertiary hospital as part of the township’s first phase

As the latest purchasing managers’ index (PMI) data indicated a softer contraction in Malaysia's manufacturing sector in April, economists are expecting the country's manufacturing condition to gradually recover in the near term, though it remains slightly behind regional peers.

Malaysia's manufacturing sector to recover gradually despite lagging behind regional peers — economists

Lotte Chemical Titan Holding Bhd (LC Titan) is expected to face widening core losses in the second quarter ending June 30, 2024 (2QFY2024) from lower sales volume and weak product spread, according to TA Securities.

Lotte Chemical Titan to face widening losses in 2QFY2024 on lower volume, weak product spread, says TA Securities

PUTRAJAYA (May 3): A convenience store in Precinct 3 here was raided by the Ministry of Domestic Trade and Cost of Living on Thursday (May 2), for suspected sale of food products with the words “no palm oil” (NPO) written on the product’s plastic packaging.

Domestic Trade Ministry raids premises selling products with ‘no palm oil’ label

KUALA LUMPUR (May 3):&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong said it is time for Malaysia&nbsp;to see biomass as the feedstock for new and advanced fuels and&nbsp;other green industries.

Timely for Malaysia to see biomass as feedstock for advance fuels — Liew

Teen apparel retailer rue21&nbsp;filed for Chapter 11 bankruptcy protection for a third time on Thursday, seeking to shut down its 540 stores and sell its intellectual property.

Apparel retailer rue21 files for third bankruptcy, will close all stores

RHB Research has downgraded TA Ann Holdings Bhd to "neutral" from "buy", with a reduced target price of RM4.00 from RM4.15, after the stock increased by over 35% in the past year, leading the research firm to believe that the valuation is now fair.

RHB Research downgrades TA Ann to 'neutral', lowers target price to RM4

Analysts anticipate continuous growth for Westports Holdings Bhd for the rest of the year on the back of sustained trade activities in the regional economies and multi-year high foreign direct investment (FDI).

Analysts upbeat on Westports’ outlook amid multi-year high FDI

Peloton Interactive Inc shares fell to a record low after chief executive officer Barry McCarthy announced plans to step down and the struggling fitness company embarked on a major restructuring that will reduce its global workforce by 15%.

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