Latest
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Economy
Hunt may net US$12.5bil for tax cut if BoE shifts on asset sales
UK Chancellor Jeremy Hunt would have an extra £10bil (US$12.5bil) a year for tax cuts if the Bank of England (BoE) stopped selling the bonds it bought over more than a decade under quantitative easing (QE), according to BoE disclosures.
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Corporate News
Making ESG accessible to all companies
Although the 17 Sustainable Development Goals were adopted by the United Nations (UN) in 2015 companies were largely under the impression that such pursuits were mostly the responsibility of governments.
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Insight
Pricey Sydney property secures celebrity realtor
Opulent, elevated, expensive. There are plenty of descriptive terms for the A$90mil (US$59mil) home perched high in Crown Resorts Ltd’s twisting skyscraper in Sydney. “Sold” is not one of them.
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Corporate News
Insurance firms diverge on dividend distribution
During this year’s shareholders’ meeting season, several insurance companies opted to pay dividends at a rate of 10% or higher but there were still others that chose not to distribute dividends.
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Economy
Real wages slide 2.5% in March
Japan’s latest wage figures showed pay gains have now lagged inflation every month for two years even as a measure of the deeper trend points to steady growth.
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Insight
Bank of England weighs when to cut interest rates in the UK
Bank of England (BoE) governor Andrew Bailey may deliver a lift to British consumers with a stronger signal on when the central bank can lower borrowing costs from its highest in 16 years.
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Auto
Car sales expected to moderate this year
Vehicle sales could continue to post growth this year even as demand normalises from historic highs.
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Markets
SGX receives proposal to boost trading amid rise in overseas listings
A group representing the private capital sector has put up a range of suggestions that it believes will boost trading on the flagging local bourse and attract more firms to list in Singapore.
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Banking
Banking sector to lead national digital transformation
Vietnam’s banking sector is in a prime position to take the lead in the country’s digital transformation process, says Prime Minister Pham Minh Chinh at an event organised by the State Bank of Vietnam (SBV) to promote the development of digital ecosystems and connectivity in Hanoi.
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Economy
Broader scope of AEO programme to bolster trade
China will broaden the scope of the Authorised Economic Operator (AEO) programme to encompass emerging sectors such as cross-border eCommerce and a wide array of small and medium enterprises (SMEs), thus bolstering commercial exchanges both domestically and globally, says a senior Customs official.
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Corporate News
Velesto poised to see stronger earnings in 2024
Velesto Energy Bhd looks poised to post strong earnings in 2024, backed by healthy rig utilisation. Additionally, the uptick in daily charter rates (DCR) will be positive on its bottomline, says Affin Hwang Investment Bank Research.
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Economy
Technology, property and construction sectors booming in Penang
Penang is witnessing robust growth in its technology, property and construction sectors amid an ongoing economic boom in the state.
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Corporate News
MFCB’s venture into agriculture not a game changer
Mega First Corp Bhd’s (MFCB) venture into fruit and vegetable farming is not expected to contribute significantly to its earnings.
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Corporate News
Monopoly game maker Hasbro sells US$500mil bond
Hasbro Inc sold a US$500mil bond on Wednesday, raising debt for the first time in nearly five years and joining a wave of blue-chip companies storming the US investment-grade market in the busiest week of the year.
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Corporate News
Warner Bros Discovery plans fresh cost cuts
Warner Bros Discovery Inc chief executive officer David Zaslav has ordered his lieutenants to find additional opportunities for cost-cutting in order to hit financial targets for the next couple years, according to sources.
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Economy
Wage reform concerns
As Malaysia grapples with economic strains and a complex tax landscape, concerns are mounting within the business community over proposed wage reforms.
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Economy
China’s factory glut alarms the world but there is no quick fix
The groundswell of complaints about China’s factory output keeps getting louder, but there’s no sign Beijing is ready for fixes that might backfire on its vulnerable economy.
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Corporate News
VSTECS shares hit all-time high
Shares of VSTECS Bhd hit an all-time high yesterday, after the ICT distributor was named first Amazon Web Services (AWS) distributor in Malaysia.
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Property
Brisk sales for Sunway’s Velocity 3
Sunway Property’s Sunway Velocity 3 development in Kuala Lumpur recorded a 60% take-up rate during its opening weekend on May 4, with 400 out of 695 available units snapped up.
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Economy
Bank Negara holds overnight policy rate firm at 3%
Bank Negara kept the overnight policy rate (OPR) steady at 3% after its monetary policy committee (MPC) meeting, a move widely expected by economists.