Global interest rates have risen more rapidly than expected in the past two months, and US Federal Reserve (Fed) and European Central Bank (ECB) policy rates are now likely to peak at a later date and higher level, said Fitch Ratings.

Global interest rates rising faster than expected, pivot unlikely in 2023, says Fitch Ratings

KUALA LUMPUR (Nov 11): Malaysia remains among the seven economies on the US Treasury Department’s “monitoring list” of major trading partners that merit close attention to their currency practices and macroeconomic policies.

In its semiannual Report to Congress on Macroeconomic and Fore...

Malaysia remains on US Treasury Department’s 'monitoring list' for currency practices

The collective net worth of tycoons on the 2022 Forbes list of China’s 100 Richest fell 39% to US$907.1 billion (RM4.27 trillion) from US$1.48 trillion last year, marking the biggest drop in wealth since Forbes began tracking the country’s wealthiest more than two decades ago.

In a statement on Thursday (Nov 10), Forbes Asia said that of the 100 names on the list, 79 were down, 12 were returnees, four had split fortunes, three were new, and only two were richer.

Wealth of China’s 100 richest on Forbes list plunges 39% to US$907b

Rakuten Trade expects the FBM KLCI to maintain its rebound following a selldown at end-October, and expect the index to trend in the 1,440-1,455 range with buying focused on banks and telecommunications companies (telcos).

Rakuten Trade sees KLCI trending between 1,440-1,455 with focus on banks and telcos

KUALA LUMPUR (Nov 10): RHB Retail Research said Sime Darby Property Bhd is likely to resume its recent bullish reversal since it inched upwards to reclaim the area above the previous breakout level of 45.5 sen on Wednesday (Nov 9), firming up the “higher low” bullish pattern above the 21-day aver...

Sime Darby Property likely to resume bullish reversal, says RHB Retail Research

KUALA LUMPUR (Nov 10): The European Union (EU) is preparing for a new trade war with the US after Washington approved the Inflation Reduction Act aimed at helping the national production.

Quoting Spanish newspaper Diario on Wednesday (Nov 9), Russian government-controlled T...

EU preparing for new trade war with US — Spanish newspaper

KUALA LUMPUR (Nov 10): PublicInvest Research has initiated coverage of ECA Integrated Solution Bhd (ECA) at 17 sen with an “outperform" rating and target price of 32 sen based on 16x FY23 EPS.

In a note on Thursday (Nov 10), the research house said ECA is riding on the positiv...

PublicInvest starts coverage of ECA Integrated Solution, target price at 32 sen

KUALA LUMPUR (Nov 10): RHB Retail Research said Solarvest Holdings Bhd is set for an uptrend reversal after it bounced off strongly from the 21-day average line on Wednesday, surpassing the previous resistance of 73 sen.

In a trading stocks note on Thursday (Nov 10), the research house ...

Solarvest set for uptrend reversal, says RHB Retail Research

KUALA LUMPUR (Nov 10): American infectious disease epidemiologist and the World Health Organization's (WHO) Covid-19 technical lead Maria Van Kerkhove said the Covid-19 pandemic is not over.

In a tweet on Wednesday (Nov 9), Van Kerkhove however said there are many tools that can prevent...

Covid-19 pandemic is not over, warns WHO expert

KUALA LUMPUR (Nov 10): Airports across the country saw widespread flight cancellations on Wednesday (Nov 9), according to government mouthpiece Global Times (GT).

Citing flight information provider Flight Master, GT on Wednesday said some airports reached a fl...

China airports see large-scale flight cancellations amid surge in Covid-19 cases — media

KUALA LUMPUR (April 19): The ringgit ended the week on a positive note on Friday, closing higher against the US dollar for the third consecutive session, boosted by positive sentiments on the advance estimates for Malaysia’s gross domestic product (GDP) that came in better than expected, said an analyst.

Ringgit continues to appreciate vs USD at close on Friday

MISC Bhd, via its petroleum arm AET, has entered into time charter party contracts with PETCO Trading Labuan Company Ltd (PTLCL) for the world’s first two ammonia dual-fuel Aframaxes (tankers with a deadweight of between 80,000 and 120,000 tonnes), as it seeks to reduce overall emissions from its operations.

Both MISC and PTLCL are units of  national oil company Petronas.

MISC enters time charter party contracts with Petronas unit for world's first ammonia dual-fuel Aframax tankers

KUALA LUMPUR (April 19): UEM Sunrise Bhd has launched The Beat 2.0, an extension of The Beat retail hub at its Kiara Bay development in Kepong, during a groundbreaking ceremony held at the Kiara Bay sales gallery on Friday. The Beat 2.0 measures 2.6-acres and will comprise a net lease area (NLA) of 73,566 square feet (sq ft), according to a press statement on Friday.

UEM Sunrise launches The Beat 2.0 at Kiara Bay, welcomes Harvey Norman as anchor tenant

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

MIDF confirms cyber security incident

Fibre optic cables manufacturer Hextar Capital Bhd, formerly known as Opcom Holdings Bhd, said it plans to diversify into the construction and project management business.

The proposed diversification is expected to boost the group’s net profit by about 25%, aligning with its long-term strategy to pursue more engineering, procurement, construction and commissioning (EPCC) projects beyond telecommunications network projects, the group said in an exchange filing.

Hextar Capital plans to diversify into construction business

KUALA LUMPUR (April 19): Prime Minister Datuk Seri Anwar Ibrahim has denied Opposition claims that its Members of Parliament (MPs) will only be given allocations if they pledged support for his leadership.

Anwar: Claims of Opposition MPs needing to support me for allocations baseless

KUALA LUMPUR (April 19): Uzma Bhd plans to raise RM68.35 million via a private placement of 15% of its current share base to help fund the development of a water injection facility (WIF) which it is to lease to a unit of Hibiscus Petroleum Bhd.

Uzma plans RM68.4m private placement to fund O&G support job

BEIJING/SINGAPORE/NEW YORK (April 19): Oil slipped on Friday after prices spiked earlier on reports that Israel had attacked Iran, as market fears of a major escalation to hostilities in the Mideast appeared to ease.

Oil slips despite reported Israeli attack on Iran

Westports Holdings Bhd said its new sukuk wakalah programme of up to RM5 billion will provide the group with the flexibility to raise medium to long-term funding to meet business funding requirements and general corporate purposes.

In a bourse filing on Friday, the country’s biggest port operator said its wholly-owned subsidiary Westports Malaysia Sdn Bhd (WMSB) had lodged the documents in relation to the programme with the Securities Commission Malaysia on March 7.

Westports establishes RM5 bil sukuk programme with flexibility to issue sustainability notes

KUALA LUMPUR (April 19): Gas Malaysia Bhd, which operates natural gas pipelines and sells liquefied petroleum gas, said on Friday that it has lowered the daily base average tariff by 4.5 sen per gigajoule until Dec 31, 2024.

Gas Malaysia lowers daily base average tariff by 4.5 sen per gigajoule until year end

Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

Trading in Sapura Energy suspended pending announcement 

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

Israel attacks Iran, Reuters reports, as drones shot down over Isfahan 

Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;

Awantec shares plunge 53%, intraday short selling suspended 

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

Apple pulls WhatsApp, Threads from China app store after Beijing order

MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;

Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.

Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Melaka State Secretary Zaidi dies of heart attack

PUTRAJAYA (April 19): Payment of fees&nbsp;for training or classes in esports, equestrian, swimming, motorsports and taekwondo is&nbsp;eligible for&nbsp;tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

Malaysia Airlines has commenced the gradual reinstatement of flights to and from Sabah, Sarawak and Labuan since the evening of April 18, in response to prevailing weather conditions.

Malaysia Airlines begins gradual reinstatement of flights to and from Borneo states

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

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