Latest
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Economy
Central Highlands needs to develop border economic zones
DAK LAK (Vietnam): Border gate economic zones need to be developed in the Central Highlands region for promoting trade in goods.
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Banking
HK bankers earn more than city-state peers
SINGAPORE: Hong Kong bankers enjoyed higher base salaries and bonuses in 2023 compared with their peers in Singapore, some of whom suffered the harshest cuts in the Asia-Pacific.
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Markets
Top fund keep bullish eye on telecom stocks
New Delhi: A recovery is in the offing in India’s telecommunications sector, with potential tariffs hikes and a shift to high-speed networks set to bolster revenue, according to a top-performing fund manager.
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Corporate News
Brazil and Vietnam to boost rubber tyre exports
DA NANG: Local rubber tyre producer, Da Nang Rubber Joint Stock Co and Oceanside One Trading company from Brazil have inked an agreement on rubber tyre distribution in the South American and the United States market, promising an increase in export turnover from US$70mil to US$150mil per year.
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Corporate News
Japan’s oldest VC firm eyes 200% gain as unicorns proliferate
TOKYO: Japan’s oldest venture capital (VC) firm is closing in on a target to triple the value of its investment, a sign of resurgence in the country’s startup ecosystem.
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Economy
Fed rate-cut debate shifts from ‘when’ to ‘if’ on inflation data
NEW YORK: The debate for the US Federal Reserve (Fed) is beginning to shift from how many times to cut interest rates this year to whether to cut them at all in 2024.
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Logistics
Reconsidering Eurasia connectivity and trade
THE recent conflict between Israel and Iran has not only escalated tensions in the Middle East but also emerged as a severe and imminent threat to the global order, including maritime shipping. Given the pivotal role of shipping in international trade, the developments can disrupt supply chains and significantly impact the global economy.
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Business
New accounting software not needed for e-invoicing
THE electronic invoice, set to undergo a pilot project in May this year, with the first phase starting on Aug 1 and full implementation scheduled for July 1, 2025, has become one of the hottest topics recently.
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Auto
BYD shares face earnings test as China’s EV price war heats up
SHANGHAI: After getting a jump on competitors in the latest round of China’s electric vehicle (EV) price war, BYD Co now faces a key test of proving that it can withstand the impact on profits.
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Commodities
Mega bid, copper prices expose industry concerns
SYDNEY: Copper’s surge to US$10,000 a tonnejust days after the bombshell news that BHP Group is trying to buy Anglo American Plc is highlighting a core disconnect at the heart of the industry – miners just aren’t building enough mines.
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Corporate News
Elliott builds large stake in Japan trading firm Sumitomo
NEW YORK: Elliott Management Corp has built a “large” stake in Sumitomo Corp, one of Warren Buffett’s favourite Japanese trading houses, according to a person familiar with the matter.
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Corporate News
Billionaire Geiger nears L’Occitane buyout
NEW YORK: L’Occitane International SA’s billionaire owner Reinold Geiger is close to making an offer to take the skin-care company private, according to people familiar with the matter, in a deal that could value the firm at about US$7bil, including debt.
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Corporate News
Unisem upbeat on outlook
PETALING JAYA: Analysts are mixed about Unisem (M) Bhd’s prospects given the cautious outlook in the global semiconductor industry moving forward.
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Insurance
AIA new business value soars 27%, adds US$2bil to buybacks
NEW YORK: AIA Group Ltd posted a 27% actual exchange rate jump in new business value in the first quarter, led by growth in Hong Kong and mainland China, while announcing an additional share buyback.
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Corporate News
Investor interest in water infrastructure to pick up
PETALING JAYA: The implementation of water infrastructure projects in Malaysia is expected to strengthen investor interest in pipe manufacturers.
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Aviation
Capital A's aviation segment records 90% load factor, 15.4 mln passenger volume in 1Q
KUALA LUMPUR: Capital A Bhd today said the AirAsia Aviation Group (AAG), comprising AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia, and AirAsia Philippines, delivered improved performance across key metrics, with a system-wide record quarterly load factor of 90 per cent in the first quarter of 2024 (1Q 2024), reflecting one percentage point (ppt) improvement year-on-year (y-o-y).
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Corporate News
QSR Brands confirms temporary closure of KFC outlets amid economic challenges
KUALA LUMPUR: QSR Brands (M) Holdings Bhd and KFC Malaysia have confirmed the temporary closures of their outlets as reported earlier in response to challenging economic conditions.
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Banking
BNM partners MoF to host GFIEF with 'resilient global Islamic economy' theme
KUALA LUMPUR: Bank Negara Malaysia (BNM) and the Ministry of Finance (MoF) will organise the Global Forum of Islamic Economics and Finance (GFIEF) at the Kuala Lumpur Convention Centre from May 28-29, 2024.
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Banking
CIMB Group achieves Forward23+ targets despite external uncertainties
KUALA LUMPUR: CIMB Group Holdings Bhd has achieved its Forward23+ targets despite external uncertainties, reaffirming its commitment to becoming the leading focused ASEAN bank, said chairman Datuk Mohd Nasir Ahmad.
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Banking
MBSB proposes change of name to MBSB Bhd
KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) has proposed to change its name to MBSB Bhd.