At this year’s China Development Forum (the highest-level annual meeting between senior Chinese policymakers and top CEOs, current and former policymakers, and academics like me), the discussion focused squarely on the risk of China falling into the dreaded “middle-income trap”. After all, few em...

After The Storm: China confronts the middle-income trap

Football managers were once as dispensable as autumn leaves. Manchester City — a very different club pre-takeover — had five, including two caretakers, in a single season and became the butt of jokes. One of them had chairman Francis Lee encountering an old lady struggling with her shopping bags....

Business Of Sports: Fix the team, not the garden: It’s time for off-the-field stars to bloom

“Open-minded people do not impose their beliefs on others. They just accept all of life’s perspectives and realities, doing their own thing in peace without judgement.”  — Unknown author

 

As I write this, the Muslim world is just saying a ...

Everyday Matters: The lines in our lives

Carbon dioxide emission taxes, prices and markets have been touted as key to stopping global heating. However, carbon markets have failed mainly because they favour the rich and powerful.

Market solutions better?

Mainstream economists believe the best way to check global hea...

My Say: Carbon markets biased, distorted, undermined

Indonesia has had a good run in its 10 years under President Joko Widodo (Jokowi). The economy has withstood a series of challenges, including the Covid-19 pandemic, the worldwide inflation surge, the spike in global interest rates and the Ukraine crisis. Growth has been fairly steady and the rup...

My Say: Challenges for Indonesia’s president-elect Prabowo to overcome

The automotive industry is not exactly the place one would want to be in the next few years.

Competition among manufacturers of internal combustion engine vehicles, battery electric vehicles (EVs) and hybrid cars has been ongoing for more than a decade now. Last year, some certainty fin...

Alternative Views: Automotive industry feels heat from intensifying EV price war

Malaysia is getting something right by having the highest percentage of graduates from science, technology, engineering and mathematics (STEM) in tertiary education in the world. Astonishing, and a pleasant discovery indeed. According to a report compiled by Unesco Institute for Statistics on the...

Edunation: Reform or face the wrath of parents as voters

Malaysia’s labour market was battered in the wake of the pandemic but has since recovered, with unemployment rates returning to pre-crisis levels. However, beneath this seemingly positive trend lies a persisting challenge: underemployment. While the headlines celebrate decreasing joblessness, und...

ECONtemplation: Mismatched workers, missed potential

As Russia’s war against Ukraine has entered its third year, Western governments are finding it increasingly difficult to muster the funding Ukraine needs to defend itself. The European Union (EU) struggled to reach a €50 billion (US$54 billion or RM256.9 billion) aid deal in February, and the US ...

The New Global Economy: Financial sanctions need global governance

In our dynamic industrial environment, engineers and technologists play pivotal roles in driving innovation, fostering economic growth and advancing societal well-being through their creative solutions that shape our nation. With approximately 210,000 engineers registered with the Board of Engine...

My Say: Elevating the status and prosperity of engineers and technologists

The Companies (Amendment) Act 2024 (Amendment Act), save for a few sections, came into force on April 1. A significant portion of the Amendment Act focuses on strengthening the restructuring and corporate rescue provisions of the Companies Act 2016. This article sets out eight key practical theme...

My Say: New Companies (Amendment) Act strengthens restructuring and corporate rescue landscape

During the 1997/98 Asian financial crisis, US Federal Reserve chairman Alan Greenspan famously said that Asia got into trouble because it was mainly a bank-dominated financial system that lacked a “spare tyre”. In American parlance, the spare tyre is the stock market, with the US stock market bei...

Condivergence: Do stock markets reflect underlying GDP growth?

There is a pivotal scene in the 2008 movie, The Dark Knight, where the Joker has kidnapped Harvey Dent and Rachel Dawes and stashed them in two different locations that have been planted with explosives. When interrogated by Batman — who is in love with Dawes — the Joker reveals that unless someo...

My Say: The Dark Knight and Malaysia’s upcoming Asean chairmanship

US Secretary of State Antony Blinken got some stick when he said at the Munich Security Conference in February that if you are not at the table in the international system, you are on the menu.

Actually this is not anything new. It is the iron law of world politics, even if it may give ...

CARI Asean: Asean needs to be at the table, not on the menu

Dubai Airports Chief Operating Officer (COO), Majed Al Joker announced that Dubai International Airport (DXB) will resume normal operations within 24 hours, signifying a return to its full capacity and regular schedule.

Dubai International Airport set to resume full operations within 24 hours

The remains of the late Tan Sri Joseph Kurup arrived at the Kota Kinabalu International Airport here at 11.20pm on a commercial flight.

The flight which was initially scheduled at 9.15am on Thursday was cancelled due to ash clouds from Mount Ruang’s volcanic eruption in North Sulawesi, Indonesia, engulfing the air space.

Remains of late Joseph Kurup arrive in Kota Kinabalu on Thursday night

FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.

RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.

He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.

CPO futures end lower for 5th consecutive trading day

The US dollar's dominant reserve currency status is likely to endure partly because even the most talked about alternative the Chinese yuan falls short as a credible challenger, Morgan Stanley said in a report on Thursday.

Rivalry with China, Russia's war in Ukraine, wrangling in Washington over the US debt ceiling and rising debt levels have put the dollar's status as the world's dominant currency under scrutiny in recent years.

Dollar's dominant reserve currency status to endure, says Morgan Stanley

Wall Street's main stock indexes gained on Thursday as investors cheered upbeat earnings across several sectors, while advancing megacap growth stocks were amongst the biggest boosts.

Megacap growth stock Meta Platforms outpaced peers and gained 2.7% after Bernstein raised its price target to US$590, a sixth such hike on the stock this week.

Wall St ticks up on megacaps, earnings boost

Goldman Sachs Group Inc President John Waldron warned that out-of-control spending could expose the US to serious risk in the event of a political crisis.

Goldman’s Waldron sounds alarm over US debt jolt to markets

The head of the International Monetary Fund warned the US that the global economy is closely watching interest rates and industrial policies given the potential spillovers from the world’s biggest economy and reserve currency.

“All eyes are on the US,” Kristalina Georgieva said in an interview on Bloomberg’s Surveillance on Thursday.

IMF boss says ‘all eyes’ on US amid risks to global economy

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

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

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

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

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

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

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

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

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;

MAA Group exits legal bout over 2021 Turiya share acquisition under settlement deal

Malaysia needs to restructure the whole ecosystem of technical and vocational education and training (TVET) programmes, so that it can effectively meet the industry’s requirements, said Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai.

Revamp needed for TVET ecosystem to reduce mismatch, says FMM president

Economists at Citigroup Inc&nbsp;are going out on a limb by wagering that virtually everyone on Wall Street is wrong about the US Federal Reserve (Fed).

After&nbsp;three straight months&nbsp;of slightly faster-than-expected inflation readings, rivals at Bank of America Corp, Goldman Sachs Group, Morgan Stanley, and other banks have dialled back their forecasts for interest-rate cuts this year. Chair Jerome Powell lent support to those moves on Tuesday, when he&nbsp;signalled&nbsp;that policymakers are in no hurry to ease policy.&nbsp;

Citi says Wall Street wrong to slash Fed rate-cut bets

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

Malaysia’s current tallest building, the Merdeka 118 tower, has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core and Shell rating system, marking it as the first megatall building in the country to achieve it, according to a press statement on Thursday.&nbsp;

Merdeka 118 first megatall building in Malaysia to get LEED Platinum certification

theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's noon break on Thursday. Four stocks displayed negative momentum, while three stocks displayed positive momentum.&nbsp;

Crescendo, Inta Bina, PIE Industrial, Unitrade Industries, Cuscapi, HB Global, Mclean Technologies

Pansar Bhd has secured a contract worth RM269.1 million to upgrade the capacity of a water treatment plant in Sibu, Sarawak.

The construction and infrastructure outfit secured the job from Lembaga Air Sibu via an open tender, through its wholly owned Perbena Emas Sdn Bhd.

Pansar bags RM269m job to upgrade water treatment plant in Sarawak

High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and&nbsp;Special Financial Zone&nbsp;(SFZ) in Forest City can spur Johor’s economy to outpace that&nbsp;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

A former technician was brought before the Sessions Court again here on Thursday on a charge of posting offensive messages insulting Islam on his Facebook account in&nbsp;March, regarding the sale of stockings bearing the word 'Allah'.

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