To view the Prime Minister's entire speech, click here

* Budget 2017's allocation stands at RM260.8 bil; is up 3.4% from recalibrated Budget 2016

...

Budget 2017 Highlights

To view the Prime Minister's entire speech, click here

* Budget 2017's allocation stands at RM260.8 bil is up 3.4% from recalibrated Budget 2016

...

(May 7): Prime Minister Justin Trudeau’s government will require people lobbying or otherwise acting on behalf of a foreign government to register that activity publicly, a move that comes after allegations China attempted to meddle in the last two Canadian elections.

The new law was in...

Alleged Chinese meddling spurs foreign agent registry in Canada

(May 7): JPMorgan Chase & Co. said it expects to book an US$8 billion accounting gain after completing its part of a deal with Visa Inc. letting big banks restructure their stakes in the payments giant.

The plan, announced last year, allowed JPMorgan to tender 37.2 million shares of...

JPMorgan sees gain of about US$8 billion from Visa exchange offer

(May 7): Bill Hwang amassed a fortune of US$36 billion on Wall Street through his family office, Archegos Capital Management. But over the course of one week in 2021, the firm imploded. Federal prosecutors have since charged Hwang with 11 criminal counts, including securities fraud, wire fraud an...

Bill Hwang’s Archegos US$36 billion fraud trial

(May 7): Apple Inc. illegally interrogated staff at its World Trade Center store in New York City, the US labor board ruled Monday, marking the latest rebuke of the iPhone maker’s labor practices.

A trio of Democratic-appointed labor board members ruled against the company, affirming th...

Apple illegally interrogated NYC retail staff, US Labor Board rules

(May 7): The Palestinian militant group Hamas said it had agreed to a cease-fire proposal for the Gaza Strip, but Israel’s war cabinet unanimously rejected it as “far from Israel’s necessary demands,” dashing hopes for an immediate pause in the fighting.

Israel vowed to continue “its op...

Israel says a cease-fire plan backed by Hamas falls far short

NEW YORK (May 7): A U.S. judge on Monday formally ended the U.S. government's criminal case against Goldman Sachs GS.N related to the Wall Street bank's work for the Malaysian fund 1MDB after it met its obligations and paid $2.9 billion in penalties.

Chief Judge Margo Brodie of the fede...

Goldman Sachs criminal case over 1MDB formally ends

(May 7): U.S. stock indexes closed higher on Monday, their third straight session of advances, as investors continued to gain hope that there was a greater chance of the Federal Reserve cutting interest rates this year.

Expectations for rate cuts by the U.S. central bank have been tempe...

Wall Street closes higher for third session on rate cut optimism

NEW YORK/LONDON (May 7): A gauge of global stock markets rallied on Monday on optimism that major central banks will cut interest rates this year, while the yen weakened against the dollar after a surge last week from Japan's suspected currency intervention.

Stocks on both sides of the ...

Global shares rally on rate cut hopes, yen weakens

(May 7): Reuters won two Pulitzer Prizes on Monday, taking home the breaking news photography award for searing images of the Israel-Gaza conflict as well as the national reporting award for a series of investigations into Elon Musk's manufacturing empire.

ProPublica won the coveted pub...

Reuters wins two Pulitzers, ProPublica takes coveted public service award

LONDON (May 7): Michael Olise scored a brace of goals as Crystal Palace completed a league double over Manchester United for the first time in their history with a thumping 4-0 victory at Selhurst Park on Monday that will add to the pressure on Erik ten Hag.

A makeshift United defence t...

Makeshift Manchester United thumped 4-0 by Crystal Palace

The Edge Communications Sdn Bhd and its owner Tan Sri Tong Kooi Ong have ceased to be a substantial shareholder in Star Media Group Bhd following the latest share disposals last week.

Tong sold out his direct stake of 0.2%, or 1.45 million shares on May 2 and 3. Meanwhile, The Edge sold 1.5 million shares on May 3, according to Star Media’s exchange filing. The transaction price was not disclosed.

The Edge and its owner cease to be substantial shareholders of Star Media

Ho Hup Construction Co Bhd’s RM1 billion mixed development project in Bukit Jalil will be suspended as it plans to sell the project's 3.09-acre land for RM110 million cash.

The disposal deal, inked between Ho Hup’s wholly-owned unit Bukit Jalil Development Sdn Bhd (BJD) and Exsim Development Sdn Bhd’s wholly-owned subsidiary Exsim Persiaran Jalil Sdn Bhd, is aimed to improve the group’s financial position, it said in a bourse filing on Monday.

Ho Hup's Flex project to be suspended, buyers refunded as Exsim buys land for RM110m

Pahang-based hypermarket operator TF Value-Mart Sdn Bhd has initiated legal action against GCH Retail (Malaysia) Sdn Bhd, operator of the Giant Hypermarket brand, citing loss of business and non-compliance with a court order to surrender a 180,000 sq ft premises located in Batu Caves.

TF Value-Mart sues GCH Retail to get it to vacate Giant Batu Caves premises

（新加坡6日讯）据四名知情行业消息人士透露，能源巨头蚬壳（Shell）正与沙地阿拉伯国有Saudi Aramco洽谈，出售其在马来西亚的油站业务，交易价值可能高达10亿美元（47亿4000万令吉）。

路透社：蚬壳向Saudi Aramco洽售大马油站

KUALA LUMPUR (May 6): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

The Edge Communications Sdn Bhd and its owner Tan Sri Tong Kooi Ong have ceased to be substantial shareholders in Star Media Group Bhd follow...

Star Media, Ho Hup Construction, Sin-Kung Logistics, Ireka, Niche Capital, Favelle Favco, KKB Engineering and RHB Bank

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The Swiss Army Knife, the iconic, more than century-old fold-up tool used by whittlers, soldiers and even astronauts, will soon be available without a blade.

Victorinox, the company behind the quintessentially Swiss product, is responding to tighter regulations around weapons around the world, Chief Executive Officer Carl Eisner told the Blick newspaper on Monday. Instead, it plans to add tools for cyclists and other functions to a gadget that usually also features scissors and a corkscrew.

Swiss Army Knife goes blade-less as weapons regulations tighten

Practice Note 17 (PN17) company Ireka Corp Bhd said its wholly-owned Ireka Development (Terengganu) Sdn Bhd (IDTSB) and the unit's directors are being sued by the Employee Provident Fund (EPF) over unpaid contributions to the fund.

EPF initiates legal action against Ireka unit over unpaid contributions

Rubber processor and exporter Seng Fong Holdings Bhd's net profit jumped more than threefold in its third quarter, thanks to higher sales volume and average selling prices.

It said its net profit for its 3QFY2024 ended March 31 surged to RM15.14 million from RM4.05 million a year earlier, while revenue jumped 39.2% to RM300.32 million from RM215.72 million.

Seng Fong’s net profit jumps over threefold in 3Q; share price hits all-time high

KUALA LUMPUR (May 6): Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday:

FBM KLCI closes 0.49% higher at 1,597.39 on May 6, 2024

KUALA LUMPUR (May 6): RHB Bank Bhd said on Monday that it has appointed Mohd Najman Isa as the new chief executive officer (CEO) and chief investment officer of RHB Islamic International Asset Management Bhd (RHBIIAM). The appointment took effect on April 8.

RHB names Mohd Najman Isa as CEO of Islamic asset management unit

KUALA LUMPUR (May 6): National carmaker Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is targeting a 79% export growth to 1,960 units this year, compared to 1,094 units in 2023, as it expands its footprint in Brunei with the introduction of new models.

Perodua eyes 79% jump in exports this year as it introduces more models in Brunei

Yang di-Pertuan Agong Sultan Ibrahim expressed special thanks to outgoing Singapore Prime Minister Lee Hsien Loong for being a close friend to Johor and Malaysia.

King thanks outgoing Singapore PM Lee for being a close friend to Malaysia 

The Securities Commission Malaysia (SC) said that the Court of Appeal has allowed its appeal against the acquittal of former Malaysian Merchant Marine Bhd (MMM) executive deputy chairman Datuk Ramesh Rajaratnam for insider trading offences.

Appellate court reverses acquittal of ex-MMM deputy chairman for insider trading

Militant group Hamas on Monday agreed to a ceasefire proposal in the seven-month-old war with Israel in Gaza, hours after the Israeli military told residents to evacuate some parts of Rafah, which has been sheltering more than a million displaced people.

Hamas chief Ismail Haniyeh informed Qatari and Egyptian mediators that the group accepted their ceasefire proposal, according to a brief statement from Hamas, which gave no details of the accord.

Hamas says it agrees to ceasefire proposal in Gaza war

Loss-making Niche Capital Emas Holdings Bhd has proposed to undertake a private placement of up to 135.74 million shares, or 10% of its issued share capital, to fund its mining business as well as working capital.

Niche Capital aims to raise RM18.7m via private placement to fund mining business

KUALA LUMPUR (May 6): The Defence Services Asia (DSA) 2024 and National Security (Natsec) Asia 2024 exhibitions are expected to generate an immediate overall economic impact of&nbsp;around RM700 million.

DSA & Natsec Asia 2024’s economic impact estimated at RM700 mil, says exhibitions chairman

Prime Minister Datuk Seri Anwar Ibrahim wants the Immigration Department to operate as a solid team with sincere intentions to bring about change and to put an end to inappropriate practices, aligning with the concept of a Madani nation.

Anwar wants Immigration Dept to operate as solid team to bring about change

Asset and wealth management firm Kenanga Investors Bhd (Kenanga Investors) has announced the launch of Kenanga Trustees Bhd (Kenanga Trustees), aimed at providing tailored wealth preservation solutions.

Newly-launched Kenanga Trustees to offer estate, wealth planning business solutions 

Perikatan Nasional (PN) candidate Khairul Azhari Saut on Monday launched his manifesto for the Kuala Kubu Baharu (KKB) state by-election, outlining five pledges.

The manifesto, themed ‘Demi Rakyat KKB’, was launched at an event held here.

Budget 2017 Highlights

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