Latest
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Corporate News
Unilever beats first quarter sales forecasts, sticks to 2024 outlook
UNILEVER said on Thursday its first-quarter sales rose by a better than expected 4.4%, as one of the world's biggest consumer goods groups won back shoppers who had traded down to cheaper products.
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Energy
Oil steady as market weighs US demand concerns, Middle East conflict risks
SINGAPORE: Oil prices steadied on Thursday after settling lower in the previous day, as signs of retreating fuel demand in the U.S., the world's biggest oil user, contended with widening conflict risks in the key Middle East producing region.
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Corporate News
HeiTech Padu targets stronger earnings growth after returning to black in 2023
KUALA LUMPUR: HeiTech Padu Bhd targets stronger earnings growth after returning to profitability for the financial year ending Dec 31, 2023 (FY2023) amid greater competition.
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Banking
PBOC may up bond trading
CHINA's central bank will likely increase the trading of government bonds as a liquidity management tool, yet such a move should not be misunderstood as quantitative easing, officials and experts said.
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Economy
Rafizi: Govt to share details on subsidy rationalisation mechanism
KUALA LUMPUR: Economy Minister Rafizi Ramli said the government will share details on the subsidy rationalisation plan, including its criteria and implications soon.
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Banking
Deutsche Bank Q1 profit jumps 10% as investment bank outperforms
FRANKFURT: Deutsche Bank posted on Thursday a better-than-expected 10% increase in first-quarter profit as a resurgence in fixed-income trading and deal-making propelled revenue at its investment banking division.
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Markets
Stocks hit by tech slide; yen flails at intervention zone
SINGAPORE: Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.
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Auto
Toyota hits record annual output, sales on robust demand
TOKYO: Toyota Motor said on Thursday its global sales and production hit record highs in the year ended March 31, supported by robust demand and the absence of semiconductor supply constraints it had to endure in recent years.
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Corporate News
Solarvest delivers 8.9MWP solar project to NTPM
KUALA LUMPUR: Solarvest Holdings Bhd has delivered an additional 8.9 Megawatt peak (MWp) solar project to Nibong Tebal Paper Mill Sdn Bhd (NTPM).
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Markets
Investors take profit amid regional weakness
KUALA LUMPUR: The rally on the domestic market stalled in mid-morning trade with investors locking in profits in line with other Asian markets.
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Economy
Malaysia's CPI rises 1.8% in March
KUALA LUMPUR: Malaysia's inflation rose 1.8% in March 2024, unchanged from the previous month with the index points at 132.2 against 129.9 in March last year.
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Telcos
DNB announces new board members comprising representatives from all five MNOs
KUALA LUMPUR: Digital Nasional Bhd (DNB) has appointed five new board members, comprising senior leaders from the telecommunications and technology industry, effective April 24, 2024.
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Telcos
Axiata, Sinar Mas move closer to US$3.5bil telco merger
WIRELESS carrier Axiata Group Bhd. and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.
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Markets
Agricore gets Bursa nod to list on ACE Market
KUALA LUMPUR: Agricore CS Holdings Bhd has received approval from Bursa Malaysia to list on the ACE Market.
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Economy
South Korea Q1 GDP growth smashes estimates, but outlook's uncertain
SEOUL: The South Korean economy grew at the fastest pace in more than two years in the first quarter beating all estimates with a pick-up in domestic consumption and robust exports, but the market questioned if the recovery was sustainable.
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Forex
Ringgit soft as US$ remains elevated
KUALA LUMPUR: The ringgit extended its downward trend as the US dollar remained elevated while market players await the release of the United States’ first-quarter (1Q) gross domestic product (GDP) data later today, as well as the March Personal Consumption Expenditures (PCE) data tomorrow.
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Analyst Reports
Product innovation drives sales of local plastic packaging
KUALA LUMPUR: The adoption of new product innovations is giving local plastic packaging manufacturers an edge over their global peers as they vie for market share amid a period of inventory restocking.
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Markets
Bursa's rally continues ahead of economic releases
KUALA LUMPUR: Bursa Malaysia is defying gravity despite expectations of profit-taking after six consecutive sessions of gains took the stock benchmark to its highest level in two years.
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Commodities
Oil settles lower as concerns over Mideast ease
Oil prices fell on Wednesday as worries over conflict in the Middle East eased and business activity in the United States slowed, although a fall in US crude oil inventories put a floor on those losses.
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Markets
S&P 500 ends higher as markets weigh rising yields
Benchmark S&P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.