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Markets
Wall St set to open higher on tech boost, PCE data
WALL Street's main indexes were set for a higher open on Friday as robust quarterly results from Alphabet and Microsoft lifted growth stocks, while fresh evidence of progress on the inflation front rekindled hopes of an interest rate cut this year.
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Economy
US inflation rises in line with expectations in March
WASHINGTON: U.S. inflation rose moderately in March, but that is unlikely to change financial markets' expectations that the Federal Reserve will hold off cutting interest rates until September.
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Corporate News
Gamuda Land announces retail partners for Gamuda Gardens
KUALA LUMPUR: Gamuda Land, the property arm of Gamuda Bhd, has announced exciting new retail partners for its upcoming commercial development in the Gamuda Gardens, a 327.80-hectare township development nestled just north of Sungai Buloh.
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Corporate News
YNH reaffirms bondholders with remedied technical defaults
KUALA LUMPUR: YNH Property Bhd (YNH) said it has remedied the "technical default" involving its sukuk programme.
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Forex
Ringgit ends firmer against US dollar
KUALA LUMPUR: The ringgit ended the week on a better footing against the US dollar, likely due to the lower-than-expected first quarter US gross domestic product (GDP) data.
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Corporate News
KPJ Healthcare partners with Trustr for AI-driven healthcare solutions
KUALA LUMPUR: KPJ Healthcare Bhd’s educational institution, KPJ Healthcare University (KPJU) has entered into a memorandum of understanding (MoU) with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, in a transformative step towards revolutionising healthcare.
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Corporate News
Homeritz stays positive amid economic challenges
KUALA LUMPUR: Homeritz Corp Bhd is optimistic about maintaining profitability for the financial year ending Aug 31, 2024.
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Corporate News
Unisem expects performance boost amid semiconductor recovery
KUALA LUMPUR: Unisem (M) Bhd anticipates a modest improvement in its performance for the next financial quarter, despite the sluggish pace of recovery in the broader semiconductor industry.
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Corporate News
Gadang wins RM280mil data centre contract
KUALA LUMPUR: Gadang Holdings Bhd’s wholly-owned subsidiary, Gadang Engineering (M) Sdn Bhd (GESB) has secured a contract from TM Technology Services Sdn Bhd worth RM280mil.
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Property
S P Setia unveils Casaville single-storey bungalows in Setia EcoHill, Semenyih
PETALING JAYA: S P Setia Bhd is launching Casaville, a collection of 38 single-storey bungalows in Setia EcoHill, Semenyih, aiming to redefine sustainable living. The new show units will be unveiled on April 28, 2024.
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Markets
FBM KLCI rebounds to hit fresh two-year high
KUALA LUMPUR: The FBM KLCI staged a rebound on Friday, climbing to a fresh two-year high in tandem with the positive performance of regional bourses.
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Forex
Asian FX subdued after mixed US data; equities set for weekly gains
MOST Asian currencies were subdued on Friday as mixed U.S. data solidified bets of fewer rate cuts, while regional stocks were on track to end the week higher due to gains in South Korea and Taiwan from global tech earnings.
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Business
Global manufacturing activity recovery to continue gradually into 2024 - S&P Global
KUALA LUMPUR: The global manufacturing activity recovery had seen a gradual improvement in late 2023 and is expected to continue into 2024 although it remained in contractionary territory after two years of downturn.
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Property
Country Garden plans to present debt revamp plan in second half, sources say
HONG KONG: Country Garden has told some of its offshore creditors it plans to present a debt restructuring proposal in the second half of this year, two sources said, as the embattled developer scrambles to stave off a liquidation petition.
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Energy
Oil prices on track to snap two-week losing streak
OIL prices rose on Friday, on track to end higher this week after two straight weeks of losses, after a top U.S. official expressed optimism over economic growth and as supply concerns lingered due to conflicts in the Middle East.
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Corporate News
MAA Group sells entire 58% stake in Turiya for RM52.86mil
KUALA LUMPUR: MAA Group Bhd has proposed to disposed of its entire 57.78% equity interest held in Turiya Bhd for RM52.86mil cash.
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Corporate News
Majuperak, Shizen to explore solar photovoltaic development in Perak
IPOH: Majuperak Holdings Bhd (MHB) will collaborate with Shizen International Inc to explore the development of a solar photovoltaic project to expand Perak’s clean energy technology usage.
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Markets
Asia stocks rise, yen plumbs 34-year low as BOJ stands pat on rates
SINGAPORE: The yen fell amid volatile trade on Friday after the Bank of Japan (BOJ) maintained its accommodative monetary policy stance at the conclusion of its two-day policy meeting, while Asian shares rose in the broader market.
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Aviation
Fernandes: AirAsia Group to be listed on Bursa Malaysia in September
KUALA LUMPUR: AirAsia Group Sdn Bhd (AAG) is poised to be listed on Bursa Malaysia in September, taking over the listing status of AirAsia X Bhd, said Capital A Bhd chief executive officer Tan Sri Tony Fernandes.
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Corporate News
Spritzer clarifies mistaken identity in insider trading report
KUALA LUMPUR: Spritzer Bhd has clarified that its managing director, Datuk Lim Kok Boon, was wrongly implicated as an insider trading offender in a report.