PUTRAJAYA (Jan 28): Malaysia kept its 2016 fiscal deficit target intact, as widely expected, but trimmed its growth forecast for the year, as the government revises 2016 state budget because of falling oil prices.

Prime Minister Datuk Seri Najib Razak said the government is maintaining ...

Revised Budget 2016 sees 11 measures introduced to spur domestic demand

KUALA LUMPUR (Jan 28): Prime Minister Datuk Seri Najib Tun Razak said the government had revised its 2016 economic growth forecast for Malaysia to between 4% and 4.5%, from 4%-5% previously, after taking into account the impact of cheaper crude oil.

Najib, who announced the country...

Malaysia's 2016 GDP growth seen at 4%-4.5%

Budget 2016 Revision Flash: Government revises Malaysia's GDP growth forecast to 4%-4.5%, assuming Brent oil at US$30-US$35/barrel
...

Government revises Malaysia's GDP growth forecast to 4%-4.5%, assuming Brent oil at US$30-US$35/barrel

Budget 2016 Revision Flash: Government aims to achieve fiscal deficit at 3.1% of GDP
...

Government aims to achieve fiscal deficit at 3.1% of GDP

As Malaysia aims to achieve high-income status, it needs to improve its human capital outcomes to match those of high-income countries.

Aspiring to high-income status: Education matters

KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

In a statement on Tuesday, the industry association...

First-quarter global semicon sales jumped 15.2% y-o-y to  US$137.7 billion, says SIA 

(May 8): Currency markets have started pricing in elevated foreign exchange volatility around the US vote on Nov. 5, even with election day almost six months away.

That concern is particularly pronounced in options betting on the Chinese offshore yuan, with the spread between six- and t...

US election risks are starting to show up in foreign exchange markets

(May 8): China-based ByteDance Ltd. made clear it won’t comply with a new US law requiring it to sell its popular TikTok video-sharing app, setting up what likely will be a prolonged court battle pitting free-speech rights against national-security interests that could end up at the Supreme Court...

TikTok lawsuit sets stage for prolonged legal fight over US ban

(May 8): Donald Trump’s criminal trial for allegedly mishandling classified documents has been postponed indefinitely in a blow to the Justice Department’s efforts to obtain a jury verdict before November’s presidential election.

US District Judge Aileen Cannon, who is overseeing the cr...

Trump judge indefinitely postpones documents case trial

(May 8): Reddit Inc. jumped more than 10% in extended trading after reporting quarterly sales that topped analysts’ estimates, impressing investors in its first results as a public company.

Revenue increased 48% to US$243 million in the period ended March 31, the social media company sa...

Reddit gains after strong sales in first report since IPO

(May 8): The S&P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year.

The advances pushed the S&P 500 to a fourt...

S&P, Dow end slightly up, extend closing streaks despite Disney drag

NEW YORK (May 8): Wall Street pared earlier gains on Tuesday after equity markets elsewhere rallied as investors parsed when and by how much the Federal Reserve cuts interest rates this year, while a resurgent dollar helped weaken the yen further.

MSCI's gauge of global stock performanc...

Wall St loses steam, dollar gains as investors mull rate cut timing

PARIS (May 8): Borussia Dortmund showed great composure to reach their third Champions League final after Mats Hummels' second-half goal earned the visitors a 1-0 victory against misfiring Paris St Germain for a deserved 2-0 aggregate win on Tuesday.

Hummels headed home from a corner fi...

Hummels on target as composed Dortmund knock PSG out to reach final

NEW YORK (May 8): Porn star Stormy Daniels described her 2006 encounter with Donald Trump in unflattering terms at his criminal trial on Tuesday, testifying she tried not to think about the sex while it took place and feared it would become public.

For several hours Daniels, 45, offered...

Stormy Daniels testifies she had sex with Trump, defense attacks her credibility

Global oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.

Shell says it remains committed to mobility business in Malaysia

(May 7):&nbsp;Princeton Digital Group secured a US$280 million green loan to help finance a US$1.5 billion data centre it’s building in southern Malaysia, a first for the Asian infrastructure operator as it aims to get that complex operational by June.

Singapore-based Princeton Digital gets green loan for US$1.5b Asia AI hub in Johor

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

Sime Darby Plantation, Pekat, Siab, OCK, Sapura Energy, CTOS, Awantec, Mobilia, Prolintas, Power Root

Sapura Energy Bhd’s joint venture companies (JVCos) have bagged contracts worth US$1.8 billion (RM8.53 billion) to provide engineering services via six pipe-laying support vessels.

Sapura Energy's JVs win US1.8b worth of contracts in Brazil

Telecommunication tower company (towerco) OCK Group Bhd has entered into a 15-year tower leasing agreement with Best Telecom Co Ltd, marking its entry into Laos, where Best Telecom plans to launch their 5G network by the end of the year.

OCK marks entry into Laos with a 15-year tower leasing deal with Best Telecom

The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.

Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

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EVENING 5: Five things you need to know today

KUALA LUMPUR (May 7): Following its record-breaking year in 2023, CTOS Digital Bhd posted a 25.6% year-on-year jump in its first quarter net profit this year, as it recorded higher revenue and lower tax expense following the approval of a tax incentive for its main subsidiary CTOS Data Systems Sdn Bhd (CDS).

CTOS kicks off FY2024 with 25% profit jump on higher revenue, lower taxes

KUALA LUMPUR (May 7):&nbsp;More than 98% of total manufacturing projects approved in 2023 have been implemented or are in the planning stage as of May 5, said the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz on Tuesday.

According to the Ministry of Inve...

Zafrul: Over 98% manufacturing projects approved in 2023 implemented, in planning

BATU KAWAN (May 7): The semiconductor industry presents Malaysia with a once-in-a-generation opportunity for exponential economic growth, and industry players are advised to capitalise on this billion-dollar sector, said&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.

Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.

Awantec reports profit in 3Q as revenue jumps on new contracts

The Malaysian Communications and Multimedia Commission (MCMC) will sign a Memorandum of Understanding (MOU) with Microsoft on May 14 to develop a digitally skilled workforce, particularly in the artificial intelligence (AI) sector, through education.

MCMC, Microsoft to ink MOU on digital workforce cultivation next Tuesday — deputy minister 

Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.

Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.

Apple revamps iPads with AI-focused Pro model, bigger Air

Plunging prices for solar panels that have slashed profits across the sector don’t have much room to fall any further, according to the chairmen of two of the industry’s biggest firms.

China’s solar panel giants say prices are near the bottom

(May 7):&nbsp;Cargoes of an oil product from Russia are building up at sea as South Korean buyers turn cautious, highlighting how the invasion of Ukraine is still impacting flows more than two years later.

Cargoes of Russian oil product naphtha stranded at sea as South Korea launches crackdown

Urusharta Jamaah Sdn Bhd (UJSB) — a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji — has emerged as a substantial shareholder in Prolintas Infra Business Trust.

Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

Ferrari NV’s first-quarter earnings rose as the Italian manufacturer benefited from selling pricey supercars like the €2 million (RM10.2 million) Daytona SP3.

Ferrari earnings climb on demand for its most expensive models

GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.

GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

(May 7):&nbsp;PCCW Ltd, the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd, according to people familiar with the matter.

Budget 2016 Revision

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