(April 23): South Korea is emerging as a closely watched weak link in the US$63 trillion world of shadow banking.

Real estate exposure has been showing cracks at home and abroad after interest rates rose, prompting financial firms including T. Rowe Price Group Inc. and Nomura Holdings I...

Shadow banking stress in South Korea sends warning to global investors

(April 23): The former Goldman Sachs executive who’s taking over as board chair at Gildan Activewear Inc. called for an end to the shareholder rebellion that has left the clothing company’s future in limbo.

“We need the egos and the drama-seekers to get away so we can get on with creati...

Ex-Goldman executive tears into ‘drama-seekers’ in Gildan boardroom battle

SAO PAULO (April 23): Brazil's government said on Monday that four additional poultry plants have been cleared to sell halal products to Malaysia, a move it hopes will allow exports to the Asian country to double when compared to last year's levels.

The South American country, the world...

Brazil says Malaysia clears four more halal poultry plants for export

NEW YORK (April 23): Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the U.S. economy's health.

The benchmark S&P 500 and the Nasdaq rebo...

Wall St stocks end higher with major corporate earnings in view

NEW YORK/LONDON (April 23): Investors scaled back safe-haven bets on Monday as worries over a wider Middle East conflict eased, boosting world equities and pressuring gold, oil and bond prices.

MSCI's gauge of stocks across the globe rose 6.01 points, or 0.81%, to 749.29.

In a...

Equities gain, gold drops as fears of wider Middle East conflict ease

(April 23): The U.S. Federal Trade Commission (FTC) said on Monday it was suing to block Coach parent Tapestry's $8.5 billion deal to buy Michael Kors owner Capri, saying it would eliminate competition.

This comes at a time when several U.S. lawmakers have sought increased scrutiny from...

US sues to block Tapestry's Capri deal citing handbag market domination

(April 23): Cadence Design Systems forecast second-quarter revenue below analysts' estimates on Monday, as the chip design software maker faces intense competition from its primary rival SynopsysSNPS.O.

Cadence expects revenue to be between $1.03 billion to $1.05 billion for the quarter...

Chip design software firm Cadence forecasts sales below expectations, shares fall

About 100 staff of Tasek Corporation Berhad staff, one of the oldest integrated cement plant in Malaysia, picketed in front of their factory at the Tasek Industrial Park, near here on Monday, after management refused to accept a proposed impartial collective agreement (CA) that contains 44 articles.

Tasek Corp staff picket for better wages, terms in Ipoh

Malaysia poised to become powerhouse in clean, renewable energy, industry players say

Travel firm Viking Holdings said on Monday it is seeking a valuation of up to US$10.8 billion in its initial public offering in the United States, as it joins a slew of companies looking to take advantage of a rebound in the capital market.

The IPO of roughly 44 million shares will see the company selling 11 million shares and existing shareholders the rest. Viking is targeting a range between US$21 and US$25 apiece to raise up to US$1.1 billion, according to a regulatory filing.

Travel firm Viking aims for up to US$10.8 bil valuation in US IPO

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

Sapura Energy, Keyfield, Awantec, CPE Technology, Axis REIT, Unitrade, Sunview, Iris Corp, ITMAX, Gadang, Ancom Nylex, Ornapaper, Powerwell, HHRG

Bitcoin's so-called halving event has had little impact on its price so far, with industry insiders on Monday saying the cryptocurrency's fortunes were more closely tied to broader financial market sentiment and geopolitics.

Bitcoin enthusiasts had eagerly waited for the "halving" — a change to the cryptocurrency's underlying technology that happened around 0014 GMT on Saturday and is designed to cut the rate at which new bitcoins are created.

Bitcoin traders shrug off 'halving' to focus on broader market risks

WASHINGTON (April 22): The US House of Representatives passed a bill on Saturday that would give TikTok's Chinese owner ByteDance about a year to divest the US assets of the short-video app, or face a nationwide ban. It now moves to the Senate where it could be taken up for a vote in the coming d...

Why is the US government trying to ban TikTok?

SEOUL (April 23): North Korean leader Kim Jong Un has guided nuclear counterattack drills, sending a clear warning to its enemies, state news agency KCNA said on Tuesday.

North Korea fired several short-range ballistic missiles on Monday toward the sea off its east coast, South Korea's ...

North Korea's Kim guides nuclear counterattack simulation drills, KCNA says

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

Awanbiru Technology Bhd (Awantec) is appealing against Bursa Malaysia Securities’ decision to suspend the trading of its shares, saying the group has demonstrated that its current business operations are viable, sustainable and have growth prospects.

Awantec files appeal against trading suspension, says has growth prospects

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EVENING 5: Five things you need to know today

Building material wholesaler and distributor Unitrade Industries Bhd’s wholly-owned subsidiary Syarikat Logam Unitrade Sdn Bhd has entered into a collaboration agreement with Huawei Technologies (Malaysia) Sdn Bhd and JJ-LAPP (M) Sdn Bhd.

Unitrade partners with Huawei, JJ-LAPP to offer smart solar systems

ITMAX System Bhd plans to work with a unit of Johor Corp (JCorp) to explore potential partnerships in developing and deploying smart city and integrated facilities management solutions for township and industrial park developments.

ITMAX to collaborate with Johor Corp to develop smart city solutions

Axis Real Estate Investment Trust (Axis REIT) has proposed to acquire an industrial complex and open storage yard in Klang for RM351.8 million cash from a unit of Lion Industries Corp Bhd.

Axis REIT to acquire industrial complex, storage yard in Klang from Lion group

Avaland Bhd formed partnerships with six companies to provide sustainable home fittings and finishings for its ongoing and upcoming projects in a signing ceremony at the developer’s Collaboration of Sustainability event on Monday.

Avaland partners six companies to provide sustainable home fittings and finishings for its projects

Traders who bet against the "Magnificent 7" group of big US tech stocks booked their biggest-ever weekly profit of more than US$10 billion (RM47.8 billion) last week, with the biggest gains coming from their short position in shares of Nvidia and Tesla, Ortex data showed.

Short sellers pocket record weekly profit from Big Tech selloff

Ancom Nylex Bhd (ANB) has registered a 21.6% year-on-year jump in its net profit for the financial quarter ended Feb 29, 2024 (3QFY2024), attributable to improved margins for its agricultural chemicals and industrial chemicals divisions.

Ancom Nylex sees 22% jump in 3Q profit as margin improves

Renewable energy player Sunview Group Bhd has set up a special purpose vehicle (SPV) with Saudi Arabia-based Vision Ambassadors Company for International Trade Consultancy to explore renewable energy (RE) projects.

Sunview to set up SPV with Saudi-based firm to explore RE projects

HHRG Bhd's proposed purchase of 51% stakes in two companies that jointly own a parcel of land in Kuala Muda, Kedah that was originally owned by the Kedah state government has drawn the attention of the stock exchange that queried the company for more details.

Bursa Malaysia on Monday (April 22) demanded an explanation of the amount of the earnest deposit and date of payment by HHRG, the terms of arrangement for payment, and the net profits and net asset value of the companies that HHRG intends to buy 51% stakes in, and to quantify the audited net assets and net assets per share of the companies they intend to invest in, which forms the basis of the purchase consideration, among others.

Bursa queries HHRG's RM40mil deal related to land originally owned by Kedah state govt

Biofuels refiner Ecoceres is aiming to start up its Malaysia-based biofuels production unit in the second half of 2025, a company executive said on Monday.

Biofuels refiner Ecoceres expects Malaysia unit to start up in second half 2025

The high-impact Johor-Singapore Special Economic Zone (JS-SEZ) project is expected to create up to 100,000 quality and high-paying job opportunities.

Johor-Singapore SEZ seen creating 100,000 high-paying jobs, says MB

Malaysia is poised to become a powerhouse in clean and renewable energy in the Southeast Asian region, especially with the emergence of high-tech industries ramping up electricity demand, said industry players.

WASHINGTON (April 22): The US House of Representatives passed a bill on Saturday that would give TikTok's Chinese owner ByteDance about a year to divest the US assets of the short-video app, or face a nationwide ban. It now moves to the Senate where it could be taken up for a vote in the coming d...

The Natural Resources and Environmental Sustainability Ministry (NRES) will closely monitor any new environmental projects in the country, including oil and gas (O&amp;G) exploration by Petronas in the Langkasuka basin, situated in the northern region of the Straits of Melaka.

Environment Ministry to closely monitor O&G explorations in Langkasuka basin

Iris Corp Bhd is forming a joint venture with Sri Lankan firm Aitken Spence Plc to establish an offshore company that provides business processes outsourcing services in the Colombo Port City Special Economic Zone in Sri Lanka.

Iris Corp forms JV to set up offshore company in Sri Lanka

About 100 staff of Tasek Corporation Berhad staff, one of the oldest integrated cement plant in Malaysia, picketed in front of their factory at the Tasek Industrial Park, near here on Monday, after management refused to accept a proposed impartial collective agreement (CA) that contains 44 articles.

Ornapaper Bhd said it plans to diversify into the property development and property investment business, as it expects this to contribute 25% or more to its future net profit.

Ornapaper proposes to diversify into property business

Wall Street's main indexes rose on Monday after steep losses in the previous session as easing Middle East tensions buoyed risk appetite, while investors looked ahead to an action-packed week with major tech earnings and a key inflation print.

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