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Flash: Ekovest fails to get shareholders' approval for IWCity takeover, 69% vote against exercise
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Ekovest fails to get shareholders' approval for IWCity takeover, 69% vote against exercise

(May 16): Global corporate debt defaults more than doubled in April from March to their highest monthly tally since October 2020, according to a report from S&P Global Ratings.

April saw 18 defaults globally, led by the 10 U.S. defaults worth $7.1 billion, according to the S&am...

Global corporate defaults doubled from March to April, S&P finds

Shares of AEON Co (M) Bhd (KL:AEON) surged to their highest in 20 months after the department store and mall operator reported a 50% jump in first-quarter net profit.

AEON shares jump to 20-month high after 50% surge in 1Q net profit

Shares of Apex Healthcare Bhd (KL:AHEALTH) on Thursday fell again and are on track for the worst day in nearly a year after the pharmaceutical company reported a 13% decline in first-quarter net profit.

Apex Healthcare shares extend decline after 1Q results

LONDON (May 15): Big public debts typically stem from big economic and political junctures that require government to spend big - but reining them back risks 'creative' solutions markets may struggle to price.

The cumulative cost of post-pandemic public spending amid new geopolitic...

'War economy' angle on debts risks 'creative' solutions: Mike Dolan

Grab Holdings raised its full-year profit forecast on Wednesday after reporting a higher-than-expected quarterly revenue, driven by recent cost-reduction measures and robust demand for its ride-share services.

Grab raises annual profit view after strong first-quarter revenue growth

Rakuten Trade said trading in rubber glove stocks took the limelight on Wednesday, buoyed by the US tariff imposition on Chinese goods which will only take effect in two years.

Analysts say glove stocks rally a knee-jerk euphoria, advise investors to stay vigilant

Shares of Mitrajaya Holdings Bhd (KL:MITRA) rose to their highest in more than eight months after the builder and property developer announced that it has secured a contract worth RM174.3 million.

Mitrajaya surges to over eight-month high amid active trade after contract win

Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the US where data showed slower inflation than markets expected, strengthening the argument for an interest rate cut which could result in even stronger demand.

Oil prices rise on moderate US inflation data, strong demand

RHB says that for Hartalega, one man’s pain is another’s gain

MORNING CALL: 16/5/24

Japan’s economy contracted in the first quarter as consumers and companies reduced spending, underscoring the fragile nature of the recovery and extending a dismal performance stretching back to last summer.

Japan’s economy contracts as consumers, firms cut spending

KUALA LUMPUR (May 15): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

MAHB, Axiata, MyEG, Mitrajaya, Eupe Corp, Hume Cement, Apex Healthcare, Aeon Co, Vstecs, Kobay, Southern Steel, KNM

The Ministry of Higher Education (MOHE) asserts that the proposal to open Universiti Teknologi Mara (UiTM) admission to non-Bumiputera students has never been discussed in any ministry or Cabinet meetings.

Proposal to open UiTM to non-Bumiputera students was never discussed, says Zambry

Penang-based property developer Ewein Bhd (KL:EWEIN) is acquiring a company involved in the manufacturing of racking systems and machinery for about RM32 million.

Ewein to acquire rackform company for RM32 mil

Global stock markets jumped while US Treasury yields fell to five-week lows on Wednesday as data showed US consumer prices rose less than expected in April, suggesting inflation has resumed a downward trend in the second quarter.

Stocks gain, yields fall as US CPI rises less than expected

Rakuten Trade said trading in rubber glove stocks took the limelight on Wednesday, buoyed by the US tariff imposition on Chinese goods which will only take effect in two years.

Accountancy professionals must possess increasingly complex technical competencies in finance and accountancy, complemented by non-financial acumen, for Malaysia to achieve its digital transformation and digital economy goals.&nbsp;

Accountancy professionals need to enhance technological skills — Deputy finance minister

(May 16): Norway's central bank said on Wednesday that its executive board has decided to exclude three companies from its government pension fund over ethical concerns.

Norges Bank, which manages the sovereign wealth fund, said in a statement it has decided to exclude India's Adani Por...

Norway sovereign wealth fund excludes three companies over ethical concerns

Wall Street's three major indexes notched record closes on Wednesday with the benchmark S&amp;P 500 and the Nasdaq both advancing more than 1%, after a smaller-than-expected rise in consumer inflation bolstered investors' hopes for interest rate cuts by the Federal Reserve (Fed).

Wall Street boasts record closes as inflation data fuels rate-cut bets

Chinese tourists continue to contribute to the boom in tourist arrivals to Melaka, especially in conjunction with the Visit Melaka Year 2024 (VMY 2024).

China contributes to tourist arrival spike in Melaka

Southern Steel Bhd (KL:SSTEEL) posted its fourth consecutive quarter net loss for the third quarter ended March 31, 2024 (3QFY2024) due to lower average selling prices (ASP) and sales volume.

Southern Steel posts fourth straight quarterly loss in 3Q, outlook to remain challenging

Prime Minister Datuk Seri Anwar Ibrahim’s two-day inaugural official visit to Kazakhstan starting Thursday is expected to forge closer synergy in various sectors between the two countries, after 32 years.

Anwar's visit to Kazakhstan to forge closer synergy, explore new areas of cooperation

JPMorgan Chase &amp; Co chief executive officer Jamie Dimon called for full and thoughtful engagement with China, despite the country posing “tough competition” for the West. &nbsp;

JPMorgan’s Dimon calls for ‘full engagement’ with China

Shares of Mitrajaya Holdings Bhd (KL:MITRA) rose to their highest in more than eight months after the builder and property developer announced that it has secured a contract worth RM174.3 million.

Selangor has become the eighth state to adopt the Solid Waste Management and Public Cleansing Act 2007 (Act 672), said Housing and Local Government Minister Nga Kor Ming.

Selangor the eighth state to adopt Act 672 — Nga

RHB Retail Research said ECA Integrated Solution Bhd (KL:ECA) is eyeing a technical rebound after attempting to close above the 42 sen consolidation phase on Wednesday.

ECA Integrated Solution eyeing technical rebound, says RHB Retail Research 

The US Commerce Department on Wednesday opened an investigation into allegations that solar cells and panels imported from four Southeast Asian countries are being unfairly subsidised and priced below their production costs.

Asian solar imports are subject of new US Commerce probe

Walt Disney has cut its investment in programming for traditional television networks pretty dramatically as part of its strategy to maximise audiences and profit in the streaming TV era, chief executive Bob Iger said on Wednesday.

Disney has dramatically cut traditional TV spending, CEO says

Aluminium prices should decline by at least 6% over the next six months, as supply returns to the market, and high interest rates continue to crimp manufacturing demand, according to an analyst from Trafigura Group, one of the biggest traders of the metal.

Trafigura says aluminium rally ‘overdone’ as supply returns

Aiden Pleterski, the self-proclaimed “Crypto King” who collected millions of dollars from investors, only to spend it on luxury goods, has been arrested on fraud charges in Canada.

Self-styled ‘Crypto King’ who lost US$30m is charged in Canada

RHB Retail Research said UMediC Group Bhd (KL:UMC) is eyeing to resume its uptrend following a recent pullback as it bounced off the 21-day simple moving average (SMA) line on Wednesday, heading towards the 72 sen immediate resistance.