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

The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

World Bank wins US$11b in pledges to boost lending for climate, global crises

Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

IMF concerned about debt, fiscal challenges facing low-income countries

The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.

Ringgit likely to trade around 4.78 versus greenback next week

Attention this week will be on the March inflation rate, with the Department of Statistics Malaysia (DOSM) slated to put out Consumer Price Index (CPI) — the key gauge for inflation — data on Thursday.

Inflation edged up by a higher-than-expected 1.8% i...

The Week Ahead: Eyes on March inflation, US 1Q GDP and tech earnings

Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".

Fed survey cites inflation, US election as key financial stability risks

Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.

Former IGP Tun Hanif Omar passes away

The Nasdaq and the S&P 500 closed sharply lower on Friday and Treasury yields dipped as investors juggled lacklustre earnings, uncertainties surrounding central bank policy and geopolitical strife.

Nasdaq tumbles, Treasuries dip amid earnings, geopolitical crosscurrents

Oil settled slightly higher on Friday, but posted a weekly decline, after Iran played down a reported Israeli attack on its soil, a sign that an escalation of hostilities in the Middle East might be avoided.

Oil settles slightly higher as Iran plays down reported Israeli attack

The Nasdaq and the S&P 500 ended lower on Friday as Netflix shares weighed, but American Express (AmEx) kept the Dow afloat after quarterly earnings from both companies, while growing pessimism that the Federal Reserve (Fed) would cut interest rates soon also dented sentiment.

Nasdaq, S&P tumble as Netflix, chip stocks drag; AmEx boosts Dow

The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.

Enegem: Malaysia edges closer to RE exports

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Sapura Energy, PIE Industrial, LSH Capital, YX, Westports, Yinson, Sime Darby Property, MISC, Meta Bright, EG Industries, Hextar, Uzma, Nova MSC and Iconic Worldwide

KUALA LUMPUR (April 19): M&amp;A Equity Holdings Bhd announced that an individual by the name of Siti Nur Aishah Ishak has become a substantial shareholder of the stockbroking firm, after acquiring a 0.13% stake in the company.

Siti Nur Aishah emerges as substantial shareholder of M&A Equity

Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.

The mandatory general offer (MGO) for the remaining 34.1% stake in Pan Malaysia Holdings Bhd (PM Holdings), launched by property developer Exsim Group's founders, the Lim brothers, concluded on Friday with acceptances for only 35,997 shares received.

No change in Lim brothers' stake as Pan Malaysia Holdings' MGO concludes

The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.

Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.

Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.

Anwar arrives in Kota Kinabalu for one-day visit

All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.

Travellers to and from Singapore carrying over S$20,000 must submit online declaration from May 13

KUALA LUMPUR (April 19): Ten individuals suspected of being involved in the case related to an&nbsp;Israeli man who was charged with possessing bullets and trafficking&nbsp;guns, were rearrested under the Security Offences (Special Measures) Act 2012 (Sosma).

Israeli man’s case: 10 individuals rearrested under Sosma

The Nasdaq and the S&amp;P 500 ended lower on Friday as Netflix shares weighed, but American Express (AmEx) kept the Dow afloat after quarterly earnings from both companies, while growing pessimism that the Federal Reserve (Fed) would cut interest rates soon also dented sentiment.

Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.

Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.

Israel's Iran attack carefully calibrated after internal splits, US pressure

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday due to persistent weakness in the soybean oil market on the Chicago Board of Trade, said a dealer.

Palm oil trader David Ng noted that market sentiment has been influenced by concerns regarding the anticipated surge in output over the coming weeks, which is perceived as exerting pressure on the market

CPO futures end lower due to weaker soybean futures

CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses. &nbsp;

The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.

CIMB Thai's 1Q earnings drop 24.6% as operating income falls while opex climbs

Fitters Diversified Bhd has landed a subcontract worth RM26.1 million from a unit of IJM Corp Bhd for fire protection services at the compound of a four-storey logistics hub, including its parking and ancillary buildings, in Shah Alam, Selangor.

Fitters Diversified bags RM26.1 mil fire protection services job

HPP Holdings Berhad slipped into the red in the third quarter ended February 29, 2024 (3QFY2024) for the first time since its listing on the ACE market in January 2021, mainly due to commission payments of RM520,000 and a one-time compensation payment of RM400,000 million to foreign workers, in line with the group's adherence to its zero recruitment fee policy.

It posted a net loss of RM62,200 in 3QFY2024 compared to a net profit of RM1.53 million in the previous corresponding quarter, resulting in a loss per share of 0.16 sen for 3QFY2024 compared to earnings per share of 0.39 sen for 4QFY2023.

HPP Holdings posts first-ever quarterly loss of RM62,200 since listing

Parties in the Unity Government have their methods to ensure a win in the Kuala Kubu Baharu by-election next month, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Ahmad Zahid, who is also Barisan Nasional (BN) chairman, said this was discussed at the Unity Government secretariat meeting on Wednesday.

Unity Govt parties have ways to ensure victory in Kuala Kubu Baharu polls — Ahmad Zahid

The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.

IMF urges Bank of Japan to tread cautiously in raising interest rates

Attention this week will be on the March inflation rate, with the Department of Statistics Malaysia (DOSM) slated to put out Consumer Price Index (CPI) — the key gauge for inflation — data on Thursday.

Inflation edged up by a higher-than-expected 1.8% i...

(April 19):&nbsp;Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.

Softbank-backed Oyo eyes US$450 mil bond sale for refinancing

The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.

Surin Murugiah

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