Banking

Maybank Islamic named Global Islamic Bank of the Year 2026

KUALA LUMPUR: Maybank Islamic Bhd has been named Global Islamic Bank of the Year 2026 by financial publication The Banker, marking the fifth time it has received the accolade since 2015.

Markets

FBM KLCI pares gains to close marginally higher amid cautious trading

KUALA LUMPUR: The FBM KLCI ended marginally higher on Thursday after giving up most of its intraday gains, while weakness in the broader market underscored cautious investor sentiment.

Banking

Indonesia central bank raises policy rates again to support rupiah

JAKARTA: Indonesia's central bank raised its benchmark interest rates by 25 basis points on Thursday, just a week after a surprise off-cycle rate hike, as it seeks to attract fresh capital inflows and halt selling in its battered rupiah and other assets.

Auto

Perodua reduces service maintenance parts price by up to 10%

KUALA LUMPUR: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is reducing the price of its service maintenance parts, including labour, by up to 10 per cent, beginning June 19.

Economy

Johor launches JETP covering 83 investment projects worth RM167.4bil by 2030

JOHOR BAHRU: The state government launched the Johor Economic Transformation Plan (JETP) by identifying 83 investment projects across eight priority industries, which are expected to contribute investments worth RM167.4 billion.

Corporate News

PNB focused on sustaining strong performance momentum despite global volatility

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) is focused on sustaining its 2025 strong performance momentum while remaining alert to an increasingly complex and evolving external environment.

Forex

Malaysia and Russia weigh using ruble, ringgit to boost trade

Malaysian Prime Minister Datuk Seri Anwar Ibrahim and Russian President Vladimir Putin discussed using local currencies in bilateral trade as part of efforts to strengthen economic ties.

Business

Traders keep faith in Malaysian bonds in face of deficit warning

Traders remain sanguine about Malaysia's financial outlook even after officials warned the government may miss its deficit target this year, according to a closely watched financial-market metric.

Markets

South Korea's KOSPI index tops 9,000 as chipmakers hit records

South Korean shares rose more than 2% on Thursday to top the 9,000 milestone for the first time, as chipmakers hit record highs on AI optimism.

Economy

Hainan FTP sees sharp increase in global investment

SIX months after the launch of island-wide special customs operations, the Hainan Free Trade Port is running smoothly, with international trade and investor interest rising sharply, Feng Fei, Party secretary of Hainan province, told China Daily.

Forex

Dollar holds two-month high on rate hike bets, yen slides

HONG KONG: The U.S. dollar clung to a more than two-month high on Thursday after a hawkish hold triggered rate-hike bets despite a U.S.-Iran deal, while the yen weakness drew fresh verbal warnings from Japanese officials.

Energy

Oil down 2% after US, Iran sign ceasefire agreement

BEIJING/SINGAPORE: Oil prices fell more than $1 per barrel on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran's oil, boosting the oil supply outlook.

Corporate News

Top Glove's 9M profit jumps 64% on stronger sales, margins

KUALA LUMPUR: Top Glove Corporation Bhd said nitrile latex supply had stabilised as at June 2026, providing greater visibility on raw material availability amid a dynamic business environment.

Corporate News

EcoWorld's seven-month sales hit RM3.28bil, reaching 82% of FY26 target

KUALA LUMPUR: Eco World Development Group Bhd (EcoWorld) recorded RM3.28bil in sales during the first seven months of FY2026, achieving 82% of its full-year sales target of RM4bil.

Markets

FBM KLCI trades higher at midday despite tighter global liquidity worries

KUALA LUMPUR: The FBM KLCI traded higher at midday on Thursday, buoyed by gains in selected blue-chip stocks, although concerns over tighter global liquidity conditions capped gains.

Business

Thailand revives US$30bil coast-to-coast corridor to rival Malacca Strait

RANONG, Thailand: Chaiyaporn Arunrasamee hunched over his fishing nets, overlooking the waters of the Andaman Sea, where Thailand's government is proposing an ambitious "Land Bridge" that will ferry goods between ports on opposite sides of the peninsula.

Markets

Japan's Nikkei gauge crosses 71,000 on US-Iran peace deal

TOKYO: Japan's Nikkei share gauge surged past the 71,000 level for the first time on Thursday after the United States and Iran extended their ceasefire, easing geopolitical tensions and supporting risk appetite.

Aviation

MAG working closely with AirBorneo on operational recovery, aircraft availability

KUALA LUMPUR: The Malaysia Aviation Group (MAG), through its maintenance, repair and overhaul (MRO) arm, MAB Engineering Services, remains committed to supporting AirBorneo under its existing maintenance partnership as the Sarawak-owned airline works to overcome recent operational challenges.

Markets

Sum Technology jumps on ACE Market debut

KUALA LUMPUR: Sum Technology Bhd got off to a strong start on its ACE Market debut on Thursday, opening at 40 sen, a premium of 12 sen or 42.9% over its initial public offering (IPO) price of 28 sen.

Economy

Malaysia eyes broader cooperation with Turkmenistan during Anwar's visit

ASHGABAT (TURKMENISTAN): Prime Minister Datuk Seri Anwar Ibrahim's visit to Turkmenistan from June 18 to 19 is highly significant as it is expected not only to create more opportunities for cooperation in the oil and gas sector but also to enhance collaboration in other industries such as transportation, logistics and agriculture between the two countries.