High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and Special Financial Zone (SFZ) in Forest City can spur Johor’s economy to outpace that of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.

Special economic, financial zones can help Johor surpass other states economically, says Anwar

(April 18): Thailand will sign a permanent bilateral visa waiver agreement with Kazakhstan next week, as the Southeast Asian country looks to lift foreign tourist arrivals back to pre-Covid levels.

Thailand, Kazakhstan agree on visa waiver pact to boost tourism

Australia brought 23 companies seeking investment in maritime decarbonisation and renewable energy (RE) sectors to Malaysia as part of the Australia-Southeast Asia Business Exchange programme.

Australia brings 23 firms looking to invest in maritime decarbonisation, RE sectors in Malaysia

Japanese companies have agreed to raise pay by 5.20% on average this year, the biggest rise in 33 years, the country's largest union group Rengo said on Thursday, wrapping up its fourth tally of the 2024 labour talks.

Japan said to see biggest pay hikes in 33 years

(April 17): The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans said on Wednesday.

US plans to restore tariffs on dominant solar technology, sources say

KUALA LUMPUR (April 18): MIDF Research has maintained a positive outlook on the property sector, as it sees that the landscape for the sector is improving, underpinned by a stable house price index (HPI) outlook, an unchanged overnight policy rate at 3.0%, and a noticeable reduction in residential overhang.

MIDF Research maintains positive outlook on property sector

Australian employment unexpectedly fell in March and the jobless rate edged higher, unwinding some of the huge upside surprise of the prior month and reflecting restrictive settings of monetary policy.

Australian jobs surprisingly fall, giving RBA scope for patience

The International Monetary Fund (IMF) has revised the outlook for Malaysia’s real gross domestic product (GDP) by a notch to 4.4% this year from its earlier prediction of 4.3%.

IMF raises Malaysia’s 2024 GDP growth forecast to 4.4% 

BINTULU (April 17): Bintulu is expected to experience rapid development that will bring various types of infrastructure to the area in the next five years, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Bintulu to experience rapid development in next five years — Sarawak premier

Malaysia will cut petrol subsidies this year as it seeks to narrow its fiscal deficit, according to the country’s economy minister.

Putrajaya to push ahead with long-awaited subsidy cuts in 2024 — Rafizi

KUALA LUMPUR (April 16): The Malaysian Investment Development Authority (Mida) plays an instrumental investment facilitator role in removing obstacles for prospective investors, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

Zafrul: Mida a vital instrument to remove obstacles for prospective investors

OTTAWA (April 16): Canada's annual inflation rate ticked up to 2.9% in March, as expected, while core inflation measures continued easing for a third consecutive month, data showed on Tuesday.

Canada's inflation rate ticks up to 2.9%, but underlying cooling continues

Britain’s unemployment rate rose unexpectedly to the highest in six months as the number of jobs in the economy shrank, an indication that the once red-hot labour market.

UK unemployment jumps to six-month high after economy cools

The escalating tensions in the Middle East, triggered by Iran's barrage of missiles and drones at Israel over the weekend, have had only a minimal impact on the Malaysian economy thus far, said Prime Minister Datuk Seri Anwar Ibrahim.

Pointing to the slight dip in the opening of Bursa Malaysia on Monday morning, Anwar noted that this reflected regional trends.

Anwar: Malaysian economy shows minimal impact amid Middle East tensions

Swiss state prosecutors are seeking long prison terms for two men accused of embezzling US$1.8 billion from 1Malaysia Development Bhd (1MDB) — Saudi-Swiss businessman Tarek Obaid and his Swiss-British business partner Patrick Mahony, the AFP reported.

Swiss prosecutors seek long jail terms for duo in US$1.8bil 1MDB fraud — report

Oil prices were broadly steady on Thursday, as investors weighed US sanctions on Venezuela and Iran, and robust US jobs data against the wider backdrop of demand concerns and easing Middle East tensions that had pushed prices 3% lower on Wednesday.

Brent futures LCOc1 were up 10 cents, or 0.11%, to US$87.39 a barrel at 1358 GMT, while US crude futures CLc1 were 26 cents higher, or 0.31%, at US$82.95 a barrel.

Oil steadies as new sanctions interrupt easing tensions

Safe-haven gold gained on Thursday as persistent tensions in the Middle East added to the metal's appeal despite robust economic data from the US that raised prospects of fewer interest rate cuts.

Spot gold firmed 0.8% at US$2,378.53 per ounce at 9.44am ET (1344 GMT). Prices touched an all-time high of US$2,431.29 last Friday.

Gold surges as escalating Middle East tensions bolster demand

New York Federal Reserve President John Williams said on Thursday the strong state of the U economy means there's no pressing case to lower interest rates right now.

"I definitely don't feel urgency to cut interest rates" given the current strength of the economy, Williams said at the Semafor's World Economy Summit in Washington.

Fed's Williams doesn't see urgent need to cut interest rates

Nord Stream's insurers have denied that their policies provide cover for gas pipelines damaged by blasts in 2022 because the damage was caused by war, in their written defence to a lawsuit filed at London's High Court.

Nord Stream is seeking more than 400 million euros (US$427 million) from its insurers over the explosions which ruptured pipelines designed to transport Russian gas to Germany.

Nord Stream insurers deny policies covered war risks in UK lawsuit

In today’s edition of Evening 5: 00:00 Ant International to set up new business centre, create over 500 jobs 01:34 Axiata and India’s Bharti Airtel to combine Sri Lankan ops 02:58 RHB sees more opportunities in sustainable finance 04:39 ACE Market-bound Sin-Kung expects demand for trucking to hold 05:46 Ex-political aide Farhash ceases to be HeiTech Padu substantial shareholder

EVENING 5: Ant International to set up new business centre, creating over 500 jobs

EVENING 5: Five things you need to know today

With 94% of Malaysian companies gearing up for an artificial intelligence (AI) driven future, National Technology and Innovation Sandbox (NTIS) together with NVIDIA has launched an AI pilot sandbox programme.

MOHE estimates 13,000 new AI talents by 2026

Financial firms that offer services to customers in Britain directly from overseas without a base in the country must have executives that spend an "appropriate" amount of time on UK soil, the Financial Conduct Authority (FCA) said on Thursday.

UK says bosses of overseas finance firms must spend time in Britain

Indonesia discouraged its state-owned enterprises from making huge dollar purchases, showing the all-hands-on-deck approach that the nation has taken to support the rupiah.

State-run firms with large import requirements or foreign currency-denominated debt must avoid buying large amounts of US dollars while the rupiah is under pressure, Coordinating Minister for Economic Affairs Airlangga Hartarto said in a briefing on Thursday.

Indonesia tells state firms to refrain from buying dollars

Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.

Malaysia Airlines, AirAsia and Batik Air cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.

Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.

Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiTech Padu Bhd, just one month after acquiring a 15.9% stake via a private vehicle in the company.

Amid controversy over govt contracts, Farhash ceases to be HeiTech Padu substantial shareholder after one month

KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.

OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.

Musk apologises for ‘incorrectly low’ Tesla severance packages

KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

Malaysia Building Society Bhd (MBSB) has recommended a final dividend of 3.5 sen for the financial year ended Dec 31, 2023 (FY2023).

This would equate to a payout of RM287.78 million, based on the bank’s share base of 8.22 billion shares as at end-December 2023, according to MBSB’s bourse filing on Thursday.

MBSB proposes 3.5 sen dividend for FY2023

Digital payment and financial technology provider Ant International is going to establish what it calls a new digital business centre in Malaysia, creating more than 500 job opportunities in the first year, with more hirings in the next four years until 2028.

Ant International to set up new business centre in Malaysia, creating over 500 jobs

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.

Malaysia’s Axiata, Bharti Airtel of India to combine Sri Lankan ops

Bursa Malaysia Bhd’s wholly-owned Bursa Carbon Exchange (BCX) will hold its inaugural auction of renewable energy certificates (RECs) on June 25 to support Malaysia’s energy transition plans and corporates’ net-zero aspirations.

Bursa to hold auction of maiden RE certificates on June 25

When Iraq fired dozens of Scud missiles on Israel in early 1991, the US implored then prime minister Yitzhak Shamir not to respond. Shamir said he had to act. After days of late-night calls, high-level visits and long Cabinet meetings, Israel stood down and the US led a 42-nation alliance that defeated Iraq in what became the Gulf War.

Israel caught between hitting Iran and heeding allies

Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

Bursa closes higher on improved sentiment, bargain hunting

The Malaysian Bar argued in court that its challenge against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's conditional discharge is not academic as it may determine the fate of the Yayasan Akalbudi graft case.

Malaysian Bar: Legal challenge against AG's decision to drop charges against Zahid is not academic

Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;

Bursa mixed at midday break, key index up

KUALA LUMPUR (April 18): IT services firm Systech Bhd said on Thursday that shareholders have approved several proposals, including an acquisition and bonus shares issue.

Systech gets shareholders’ nod for acquisition, bonus shares issue

The concessionaire of the Petaling Jaya Dispersal Link (PJD Link) highway believes the project remains viable and will continue to pursue its realisation.&nbsp;

PJD Link concessionaire says project remains viable, studying realignment

RHB Bank, Malaysia’s fourth-largest bank by assets, said on Thursday it views sustainable financing as presenting more opportunities than challenges, rather than affecting its overall profit from financing activities.

RHB sees opportunities in sustainability finance, aims to provide RM50 bil by 2026

KUALA LUMPUR (April 18): AwanBiru Technology Bhd (Awantec) said trading in its shares will be suspended from April 26, after the group failed to submit its regularisation plan to the regulators for approval within the stipulated timeframe.

Awantec faces trading suspension from April 26 after failing to submit regularisation plan

After spending over two years in court due to a suit from Empire Holdings Ltd, MAA Group Bhd, its major shareholder Tunku Datuk Yaacob Khyra and Turiya Bhd have been dropped as parties in the suit over MAA’s purchase of Turiya shares from a Bahrain-based bank. &nbsp;

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