<div class=newsTextDataWrapInner>SINGAPORE (Feb 4): Aspen Group’s joint venture (JV) with IKEA Southeast Asia, Aspen Vision City, on Saturday signed a management agreement with Mariott International to operate the Aloft Penang Batu Kawan hotel when it opens in Penang, Malaysia, in 2023.</div>

<div class=newsTextDataWrapInner>The two companies also signed a memorandum of understanding (MoU) to develop one of the residence towers of Vogue Lifestyle Residence under the Aloft brand — where Marriott International will provide various services for the marketing and management of the residences, and where residents can also enjoy exclusive hotel services provided by Aloft Hotels upon request.</div>

<div class=newsTextDataWrapInner>Aloft Penang Batu Kawan comes as part of Aspen Vision City’s 245-acre mega mixed development, where over 2 million sq ft of retail spaces and 4,500 parking spaces are now ready... <a href="https://www.theedgesingapore.com/aspen-signs-management-agreement-mous-mariott-international" target="_blank">(Click here to read the full story)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

Aspen Group’s joint venture (JV) with IKEA Southeast Asia, Aspen Vision City, on Saturday signed a management agreement with Mariott International to operate the Aloft Penang Batu Kawan hotel when it opens in Penang, Malaysia, in 2023.

Aspen signs management agreement, MoUs with Mariott International

The US on Tuesday said it revoked some licences that allow companies to ship goods, such as chips, to sanctioned Chinese telecommunications equipment maker Huawei Technologies.

US revokes some export licences for firms supplying Huawei

Singapore's United Overseas Bank (UOB) posted a smaller-than-expected 2% drop in first-quarter profit on Wednesday and said it was confident of preventing further declines in its net interest margin.

UOB posts small drop in quarterly profit, confident of maintaining key margin level

Singapore's central bank is following up with DBS Bank, the banking arm of DBS Group, to identify the root cause of recent disruptions to its internet banking and payment services and address it effectively, The Strait Times reported.

Singapore's central bank asks DBS to identify reasons for disruptions, Strait Times reports

Global venture capital funding reached just over US$22 billion (RM104.21 billion) in April 2024 — flat month-over-month and up a few percentage points year-on-year.

Global VC funding growth stays flat in April, reports Crunchbase

China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, Xinhua reported, citing Chinese Foreign Ministry spokesperson Lin Jian.

China extends visa-free travel policy for Malaysia until end of 2025

(May 7): Kenvue will cut 4% of its global workforce amid investments to grow its key brands, the Tylenol and Band-Aid maker said on Tuesday, as it topped beat Wall Street estimates for first-quarter profit.

Since its spinoff from Johnson & Johnson last year, Kenvue has foc...

Tylenol maker Kenvue to cut 4% jobs, beats quarterly profit estimates

BEIJING (May 7): U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, lagging the broader market's surge, China Passenger Car Association (CPCA) data showed on Tuesday.

Tesla's China-made EV sales fall 18% in April; shares slip

World oil demand this year is expected to grow less than earlier forecast and output should expand faster than previous estimates, resulting in a more balanced market, the US Energy Information Administration (EIA) said on Tuesday.

EIA cuts 2024 world oil demand growth estimate, hikes output forecast

Taiwan's military is prepared for any moves China may make around the time president-elect Lai Ching-te takes office later this month, the island's deputy defence minister said on Wednesday.

Taiwan says its military is ready for China moves around the inauguration of new president 

HONG KONG (May 7): Two Chinese companies and JPMorgan have become the latest banking groups to cut jobs in China as a slow recovery in listing and dealmaking activities force them to ramp up cost controls, six sources with knowledge of the matter said.

Beijing-based China Internati...

CICC, Citic, JPMorgan cut investment banking jobs in China as deals stall

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

Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.

Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.

Muhyiddin gets temporary release of passport to visit sick family member abroad

Shares in low-cost aviation operators Capital A Bhd (KL:CAPITALA) and AirAsia X Bhd (KL:AAX) rose in early trade on Wednesday, tracking gains at the broader market.

Capital A and AAX active, advance in post merger trade

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

Global sales of semiconductors jumped 15.2% year-on-year (y-o-y) to US$137.7 billion (RM653.24 billion) during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

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

United Overseas Bank (M) Bhd (UOB Malaysia) has launched a programme to assist businesses in understanding and preparing for the European Union's (EU) carbon border adjustment mechanism (CBAM), a carbon border tax that is set to take effect in 2026 and affect some 75% of Malaysian exports to the region.

UOB Malaysia introduces masterclass to prepare businesses for EU’s carbon border tax

Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.

Two suspects on motorcycles break Safiq Rahim's car windscreen in third attack on footballers 

The FBM KLCI was little changed in early trade on Wednesday although it held firm above the 1,600-point level.

KLCI little changed in early trade, hovers above 1,600 resistance level

Shares of CTOS Digital Bhd (KL:CTOS) rose to their highest in nearly two months as analysts flagged a pickup in earnings ahead following the seasonally weaker first-quarter results.

CTOS rises to near two-month high; analysts see stronger quarters ahead

The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence (AI) technology said the country would divest from China if it were asked to do so by the US.

Saudi Arabia AI fund would divest from China if US asked, CEO says

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

The S&amp;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 (Fed) will cut interest rates this year.

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

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

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

Hospital operator IHH Healthcare Bhd (KL: IHH) on Wednesday said it has invested in Belun Technology Company Ltd that makes devices tackling sleep apnea and other sleep disorders.

IHH Healthcare invests in Belun Technology for devices to tackle sleep disorders

Australia said on Wednesday it would raise the amount of savings international students will need to get a visa and warned several colleges of fraudulent student recruitment practices, as part of efforts to rein in record migration.

Australia raises minimum savings for student visa, warns on fake recruitment

China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, Xinhua reported, citing Chinese Foreign Ministry spokesperson Lin Jian.

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.

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

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.

Reddit gains after strong sales in first report since IPO

Kim Ki Nam, one of the longest-serving North Korean officials who served all three generations of its leaders cementing their political legitimacy and heading the propaganda apparatus for the dynastic state, has died, official media said on Wednesday.

North Korean propaganda chief who served all three leaders dies

IJM Land Bhd has achieved 55% take-up rate for serviced apartment Daffodil Residency since its launch on March 1, according to a press statement on May 7.&nbsp;