Energy

Oil heads for weekly gains on anxiety over intensifying Ukraine war

Oil prices inched higher on Friday, on track for a weekly rise of more than 4%, as the Ukraine war intensified, with Russian President Vladimir Putin warning of a global conflict.

Forex

Dollar climbs to 13-month peak, bitcoin eyes US$100,000

TOKYO: The U.S. dollar edged up to a fresh 13-month high on Friday, with little to stop the greenback's momentum as investors assessed the outlook for the Federal Reserve's interest rate path, while bitcoin hit a record high and neared the $100,000 level.

Banking

Bank Negara international reserves up at US$118bil

KUALA LUMPUR: Bank Negara’s international reserves rose to US118bil as at Nov 15 compared with US$117.6bil as at Oct 30.

Corporate News

Affinity in talks to buy Penang-based Golden Fresh

KUALA LUMPUR: Buyout firm Affinity Equity Partners is in talks to acquire Malaysian seafood supplier Golden Fresh Sdn Bhd, according to people familiar with the matter.

Aviation

AirAsia founder plots low-cost Dubai-like hub in Bangkok, Kuala Lumpur

Discount carrier AirAsia hopes to emulate Dubai’s success in connecting the world, but in a low-cost format in Bangkok and Kuala Lumpur as it looks to put its tumultuous pandemic years behind it and expand. 

Technology

China makes moves in digital culture market

WITH a focus on emerging digital opportunities around the world, the latest internet development reports highlight China's global leadership in the digital industry, with the country showing rapid growth and expanding international influence in the digital culture sector.

SME

Over 90% of entrepreneurs have yet to adopt e-invoicing - expert

KUALA LUMPUR: It is estimated that over 90 per cent of entrepreneurs, especially those with an annual income of RM25 million or less, have yet to adopt the e-invoicing system introduced on Aug 1.

Commodities

Oil heads for weekly gains on anxiety over intensifying Ukraine war

OIL prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.

Corporate News

S&P lowers outlook on three Adani units after US indictment of founder

S&P Global Ratings lowered its outlook on three Adani Group entities to 'negative' from 'stable' on Friday, citing risks to funding access following a U.S. indictment of the conglomerate's billionaire founder, Gautam Adani, on bribery charges.

Corporate News

Bumi Armada posts higher net profit of RM211.33mil in 3Q

KUALA LUMPUR: Bumi Armada Bhd registered a net profit of RM211.33mil in the third quarter ended Sept 30, 2024 (3QFY24), as compared to RM177.77mil in the year-ago quarter.

Banking

Affin Bank's net profit jumps 45% to RM145.82mil in 3Q

KUALA LUMPUR: Affin Bank Bhd recorded a stronger bottomline on the back of a jump in non-interest income in the nine months period ended Sept 30, 2024 (9MFY24).

Markets

KLCI remains positive as heavyweights bounce higher

KUALA LUMPUR: The FBM KLCI rose in the early session, although gains were capped by investor caution ahead of corporate results.

Business

Malaysia's inflation comes in at 1.9% in Oct

KUALA LUMPUR: Malaysia's inflation increased 1.9% in October 2024, slightly above market projections that the increase in the cost of goods remained status quo from the previous month.

Stock on the Move

Globetronics shares rally in early trade after Taiwan deal

KUALA LUMPUR: Globetronics Technology Bhd shares on Bursa Malaysia surged in the early session after the company entered into a strategic partnership with Taiwan-based ChipMOS Technologies Inc for integrated circuit services.

Auto

Nissan to cut or transfer about 1,000 jobs in Thailand, sources say

TOKYO: Nissan Motor will cut or transfer about 1,000 jobs in Thailand as it shrinks production in Southeast Asia, part of its recently announced global workforce reduction plan, two sources familiar with the matter told Reuters on Friday.

Economy

Singapore Q3 GDP up 5.4% y-o-y, higher than advance estimate; 2024 forecast upgraded

SINGAPORE: Singapore on Friday upgraded its economic outlook for 2024 as third quarter gross domestic product growth beat expectations and initial estimates, helped by stronger semiconductor production and engineering demand.

Forex

Ringgit extends uptrend against greenback in early trade

KUALA LUMPUR: The ringgit extended its recent positive momentum to trade slightly higher against the US dollar in the early session on Friday.

Markets

FBM KLCI rebounds as Wall Street returns to a rally

KUALA LUMPUR: The FBM KLCI started with a slight retracement following Wall Street's positive performance but remained firmly below the 1,600-point psychological level.

Corporate News

Trading ideas: PetDag, Atlan, Thong Guan, Maxim, Globetronics, 7-Eleven, Petron, DRB-Hicom, Dayang, MSM, Aeon, SunCon, UEM Sunrise

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Coprorate Malaysia.

Commodities

Oil rises 2% as Russia-Ukraine war escalates

Oil climbed nearly 2% on Thursday as tensions between Russia and Ukraine were rapidly rising as the countries launched missiles at each other, worrying markets about crude supply if the conflict widened.