Latest
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Markets
Foreign buying of Malaysian stocks moderates to RM961.1mil net
KUALA LUMPUR: The inflow of foreign funds into Bursa Malaysia continued with a net sum of RM961.1mil, which was slightly lower than RM1.06bil registered in the previous week.
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STARPICKS
Making streamlined solutions accessible for SMEs
Maybank Work+ addresses three major pain points of SMEs with its suite of services
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Stock on the Move
Awantec shares surge 49% as affected listed issuer status, trading suspension lifted
KUALA LUMPUR: Shares in Awanbiru Technology Bhd (Awantec) resumed trading on Monday, soaring 49% after Bursa Malaysia lifted its affected listed issuer status and suspension on the trading of its securities.
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Markets
FBM KLCI opens slightly higher ahead of fresh economic data
KUALA LUMPUR: Bursa Malaysia rose slightly on Monday as foreign funds continued to flow into the market amid an improved global outlook.
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Analyst Reports
Trading ideas: Paramount, CelcomDigi, InNature, AwamBiru, Nova MSC, Cuscapi, BHIC, Sarawak Cable, Pharmaniaga
KUALA LUMPUR: Here is a recap of the news headlines from Corporate Malaysia.
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Business
Loans to self-employed swell 50% in four years
Seoul: The reliance on bank loans among self-employed South Koreans has surged considerably since the onset of the pandemic, with the overall loan volume and the default rate rising steeply in the past four years.
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Corporate News
Lilium and Swiss firm to open new sites in France
PARIS: German aviation firm Lilium and Swiss-based nickel refinery company KL1 will set up new sites in France representing a combined investment of €700mil (US$754mil), French finance minister Bruno Le Maire says.
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Markets
Financiers fret over ‘leverage on leverage’ in private credit
TO some elite financiers who gathered in Los Angeles for the Milken Institute conference, a debt binge in private markets is reminding them of the go-go days of risk-taking before the 2008 financial crisis.
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Advertising & Media
Claudian Navin re-elected as MAA president
PETALING JAYA: Claudian Navin Stanislaus has been re-elected as the Malaysian Advertisers Association (MAA) president at the association’s recent AGM.
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Auto
Miti: 2,288 EV charging bays as at March
KUALA LUMPUR: A total of 268 electric vehicle (EV) charging stations have been operational, bringing the total number of EV charging bays to 2,288 units as at March 2024, according to the Investment, Trade, and Industry Ministry (Miti).
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Markets
Stocks power to a high on dividends, property
Hong Kong: Hong Kong’s benchmark stock index jumped to a nine-month high on optimism over the potential scrapping of some dividend taxes and new initiatives to boost Chinese property purchases.
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Economy
Kenya eyes environment levy, tax on green bonds
NAIROBI: Kenya’s Treasury wants to target infrastructure bond investors, motor vehicle owners and online marketplace operators, among others, with new tax measures to raise revenue and attain the lowest fiscal deficit in at least 15 years.
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Economy
Trump pledges ‘upper class’ tax cut if he returns to White House
NEW YORK: Donald Trump pledged to double down on tax cuts if he wins a second term as president, drawing a distinction with President Joe Biden who has called for tax hikes on businesses and the richest Americans.
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Commodities
Norway’s new Arctic oil field nears production
OSLO: The vessel that will tap Norway’s newest oil field is now undergoing final checks before setting sail for the Barents Sea, the latest stage of the country’s push to extract more resources from the Arctic.
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Corporate News
Apple store in New Jersey votes against unionising
New York: Apple Inc retail employees in New Jersey have voted against unionisation, the Communications Workers of America (CWA) says, a setback for organising efforts at the tech giant.
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Commodities
Iraq won’t agree to new Opec+ oil production cuts, oil minister says
Baghdad: Iraq’s oil minister says Iraq has made enough voluntary oil production reductions and will not agree to any additional cuts taken by Opec+ at its next meeting early next month.
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Corporate News
Graft watchdog probes two former officials of ChemChina
BEIJING: China’s anti-graft watchdog says it is investigating the former chairman of China state-owned giant National Chemical Corp (ChemChina), for violations of discipline and law, along with another former company official.
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Energy
S. Korea’s Kepco in talks to build UK nuclear plant
Seoul: South Korea’s Korea Electric Power Corp (Kepco) is in talks with the British government to build a nuclear power station off the coast of Wales, the Financial Times reports.
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Commodities
Australia’s budget will boost critical minerals
CANBERRA: Australia’s budget will feature a bigger boost for the nation’s critical minerals industry, Treasurer Jim Chalmers says, describing the lucrative market as a “golden opportunity” just days ahead of releasing his annual fiscal blueprint.
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Business
Startup promises to fix rice farming’s methane problem
SINGAPORE: Rice farming is a surprisingly large source of planet-warming methane.