Latest
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Economy
Dubai’s glitz starts to dim for Russians
Two years ago, Dubai became a hot favourite with Russians looking to park money or build new lives after President Vladimir Putin’s invasion of Ukraine.
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Economy
Fed’s Waller says no rush to cut interest rates
US Federal Reserve (Fed) governor Christopher Waller says there is no rush to lower interest rates, emphasising that recent economic data warrants delaying or reducing the number of cuts seen this year.
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Technology
Experts stress importance of responsible AI growth
No country, including the United States, can single-handedly lead the future development of artificial intelligence (AI), and only global cooperation can ensure that AI will remain safe and beneficial for all, say experts and company executives at the Boao Forum for Asia Annual Conference 2024 in Boao, Hainan province.
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Insight
Global freight acceleration will boost fuel prices
Global trade flows have showed signs of accelerating at the start of 2024, as the major industrial economies began to pull out of the slump that started in late 2022, which should boost demand for transport fuels such as diesel.
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Markets
S. Korea fails to join FTSE Russell’s global bond index
South Korea has failed to be added to the World Government Bond Index (WGBI) run by FTSE Russell, the London-based organisation says.
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Banking
Tokyo banks poised to step up cuts to US$65bil stock hoard
For decades, banks in Japan have clung to a network of cross-shareholdings that date to the nation’s industrial emergence from World War II, helping companies expand globally and ride out periods of economic hardship.
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Economy
Thai factory output falls for 17th month in February
Thailand’s manufacturing production fell for the 17th straight month in February, down 2.84% from a year earlier, due to lower car production and high household debt, the industry ministry says.
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Economy
Need to go slow in future rate hikes
Many Bank of Japan (BoJ) policymakers saw the need to go slow in phasing out ultra-loose monetary policy with one board member saying the economy’s health did not warrant rapid interest rate hikes, a summary of opinions at the bank’s March meeting shows.
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Economy
‘Growth target of 5% likely to be achieved’
China will continue to remain a top contributor to global economic growth in 2024 on the back of its robust economic recovery, according to participants attending the Boao Forum for Asia Annual Conference 2024.
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Banking
Banks take wary stance after latest results season
The banking sector in Malaysia has alternated towards a more cautious outlook after its latest results season, according to MIDF Research.
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Corporate News
Global M&As pick up in first quarter after flurry of large deals
Mergers and acquisitions (M&As) bounced back in the first quarter after a downbeat 2023, thanks to the return of mega deals, cheering investment bankers and lawyers waiting for a pick-up.
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Economy
Demand from auto and AI to lift chip industry
MIDF Research expects a stronger second quarter for the technology sector as the semiconductor industry is poised to recover this year.
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Economy
Crucial to shore up confidence in the ringgit
Chatter among economic circles has increasingly entertained the idea that a short-term broader measure to shore up confidence in the ringgit is becoming necessary.
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Corporate News
Berjaya Land eyes more international tourists to Redang Island, banking on new charter service
Berjaya Land Bhd’s aviation arm Berjaya Air Sdn Bhd hopes to boost the tourism industry in Redang Island, Terengganu with more international tourists, especially from Singapore, following its newly launched charter services.
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Property
China's ICBC to support stabilisation of property market
SHANGHAI: The Industrial and Commercial Bank of China said on Thursday it will support moves underway in the world's second-largest economy to stabilise its property market.
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Economy
China will be a driving force for the world economic recovery, official says
China aims to be strong driving force for the world economic recovery this year, opening its markets wider to foreign investors and promoting high quality growth, the country's top legislator Zhao Leji said on Thursday.
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Investment
Amanah Saham Nasional declares RM2bil payout for ASB2 and ASM
KUALA LUMPUR: Amanah Saham Nasional Bhd (ASNB), a wholly-owned subsidiary of state investment firm Permodalan Nasional Bhd (PNB), has announced a total income distribution payout of RM2bil for the financial year ending March 31, 2024, for Amanah Saham Bumiputera 2 (ASB2) and Amanah Saham Malaysia (ASM).
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Auto
Toyota's global sales slide 7% in February, led by slumps in China and Japan
TOKYO: Toyota Motor's global sales dropped 7% in February from a year earlier, hurt by a heavy decline in China due to Lunar Year holidays and a slump in Japan after a safety test scandal at its small car unit.
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Forex
Yen on intervention watch; Asia shares subdued
The yen languished near its weakest in decades on Thursday though the threat of intervention from Japanese authorities kept investors leery of pushing the currency to a new low, while Asian stocks fell ahead of a key U.S. inflation reading.
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Markets
Australian shares hit record high, set for 5th straight monthly gain
AUSTRALIAN shares rose to an all-time high on Thursday, with most sectors trading in positive territory ahead of a long holiday weekend, as investors remained optimistic after cooling price pressures bolstered hopes of an interest rate cut.