Philippines

Digital service providers based abroad to be taxed

President Ferdinand Marcos has signed into law a measure that imposes a 12% value-added tax on foreign-based firms providing digital services in the country.

Corporate News

Contact Energy says merger won’t lessen competition

New Zealand power company Contact Energy says its proposed merger with Manawa Energy won’t substantially lessen competition in any market, according to a clearance application submitted to the antitrust regulator.

Markets

Changes driving foreign investor activity in market

New rules enabling foreign investors and organisations to trade without pre-funding, coupled with the prospect of elevating the stock market to the emerging FTSE index, are drawing foreign investors to the securities group.

Nation

It’s just an aid, not a primary evidence

PUTRAJAYA: While results of polygraph tests are not admissible in court, they can provide a clea­rer direction to graft investigators, says Tan Sri Azam Baki.

Badminton

BAM seek coaches with record of producing world champions

PETALING JAYA: The Badminton Association of Malaysia (BAM) are looking for coaches that have produced world champions to lead the newly revamped men’s and women’s singles squads.

Badminton

Pearly-Thinaah hanging tough in race to reach Hangzhou

PETALING JAYA: Women’s doubles shuttlers Pearly Tan-M. Thinaah (pic) will not take their foot off the gas as they bid to qualify for the prestigious World Tour Finals from Dec 11-15 in Hangzhou.

Nation

Graft probes can be sped up with lie detector tests

PETALING JAYA: Polygraph tests will help the Malaysian Anti-Corruption Commission (MACC) speed up its probes and sharpen its focus on key case elements, say anti-graft experts.

Football

Hotshot Arif intends to stay on with JDT to evolve into a better player

KUALA LUMPUR: Arif Aiman Hanapi has hinted that he will not part ways with Johor Darul Ta’zim (JDT) and will continue to give his best in the Super League and also Asian Champions League Elite (ACLE) campaign.Arif helped his side to a comprehensive 3-0 victory over Shanghai Shenhua at the Sultan Ibrahim Stadium on Tuesday.

Football

Shenhua coach claims tight schedule took a toll on his players

KUALA LUMPUR: Shanghai Shenhua coach Leonid Slutskiy blamed the tight schedule in the Chinese Super League (CSL) as one of the causes of their 0-3 defeat to Johor Darul Ta’zim (JDT) in the Asian Champions League Elite (ACLE) at the Sultan Ibrahim Stadium in Iskandar Puteri.

Motorsport

Motor racing-F1 post-season rookie race concept shelved for 2024

(Reuters) - Formula One will not hold a sprint race for rookie drivers in Abu Dhabi after the final grand prix of the season, the governing FIA said on Wednesday.

Insight

Protecting South Korea from zombie companies

While there is no globally-agreed upon official definition, zombie firms are widely referred to as those that are risky, unproductive and unviable, yet manage to avoid immediate default, most likely due to continued support from banks, investors or governments, amid misaligned incentives.

Corporate News

Saudi Red Sea developer plans to raise US$3.7bil

The firm developing luxury tourism projects on Saudi Arabia’s Red Sea coast is planning to raise at least 14 billion riyals (US$3.7bil) over the next year.

Corporate News

Talos Energy moves to defend against Slim’s share-buying spree

Talos Energy Inc has implemented a so-called poison pill plan in a bid to defend itself against Mexican billionaire Carlos Slim’s repeated share purchases, which have reached 24.1% of the firm.

Economy

ECB’s Kazaks leans towards October rate cut but cautions markets

The European Central Bank (ECB) is likely to lower borrowing costs at this month’s meeting and beyond, but some investors’ and economists’ easing expectations appear exaggerated, according to Governing Council member Martins Kazaks.

Corporate News

Bank Islam issues RM250mil sukuk to enhance capital

Bank Islam Malaysia Bhd has launched the second tranche of its additional Tier 1 capital sukuk wakalah, amounting to RM250mil, from its RM5bil sukuk wakalah programme.

Corporate News

Aussie pension fund pivots back towards property

Australian pension fund Hesta is pivoting back towards the property market as the A$87bil (US$60bil) fund hunts out distressed opportunities among assets struggling with high interest rates.

Energy

German official slams Norway for abandoning hydrogen pipeline

A top German government official criticised Norway for giving up on a bilateral hydrogen pipeline project that was key for cleaning up the nation’s dirty industries.

Economy

RBA faces questions over off-record briefings

The Reserve Bank of Australia (RBA) is facing questions over its practice of holding off-record briefings with market participants after reports that at least two such discussions had been leaked, resulting in bans for the institutions involved.

Insight

Building a competitive and inclusive future

As Budget 2025 draws near, expectations are high, fuelled by the government’s goals to achieve the objectives of the Madani Economy.

Corporate News

Anti-ESG backlash in US is overstated, JPMorgan executive says

The impact of a political backlash against environmental, social and governance (ESG)-related issues in the United States is overstated and having little bearing on the country’s burgeoning green economy, a JPMorgan executive says.