Latest
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Economy
Nasa chief asks nations to work together on climate change
Nasa is hoping that nations will work together more closely in the future on topics such as climate change, including greenhouse gas emissions, the space agency’s head, Bill Nelson says.
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Insight
Boeing is burning through its cash – that’s good
How can a blown-out door plug on an aircraft in midair be a blessing in disguise? When the wake-up call from that near-miss accident is so loud that Boeing Co is willing to burn the cash it needs to finally get its supply chain in order.
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Markets
Battery stocks’ rally in India likely to extend
A rally in India’s battery maker stocks this month looks poised to extend amid optimism over further collaborations with foreign vehicle manufacturers.
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Corporate News
Boeing CEO upbeat on cash goal, quality review
Boeing Co chief executive officer Dave Calhoun says the embattled planemaker is making progress toward turning around its manufacturing and that it will hit its mid-decade cash-flow goal, even after reporting a major outflow in the first three months of the year as it slows output.
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Aviation
Airlines must now provide automatic refunds for cancelled flights
Airlines will now have to provide automatic refunds to travellers if flights are cancelled or significantly altered under new US Department of Transportation (DoT) rules, a significant change for consumers that could drive up costs across the industry.
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Economy
Congo accuses Apple of using ‘blood minerals’ from war-torn east
The government of the Democratic Republic of Congo (DRC) is accusing Apple of using “illegally exploited” minerals extracted from the country’s embattled east in its products, according to lawyers representing the African country.
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Corporate News
Meta projects higher spending, weaker revenue
Meta Platforms Inc increased its spending estimates for the year and projected second quarter sales that were below Wall Street’s expectations, once again raising questions about whether its futuristic technological bets will eventually pay off for investors.
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Property
Property market recovery on the horizon
When it comes to Chinese real estate, John Lam is a lone wolf. The UBS analyst shocked markets three years ago with a rare “sell” rating on China Evergrande Group, 11 months before it defaulted and became the poster child for the property collapse.
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Corporate News
Ford profit up on sales of commercial vehicles
Ford Motor Co posted first-quarter earnings that beat Wall Street’s expectations, bolstered by a strong performance in its commercial-vehicle division and an increase in its hybrid-vehicle sales.
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Corporate News
AI memory boom propels SK Hynix’s numbers
SK Hynix Inc says it expects a full recovery in the memory market, led by surging demand related to artificial intelligence (AI), and lifted its capital spending plans.
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Corporate News
Buyout proposal for Anglo American could reshape copper market
London-listed miner Anglo American says it has received an all-share buyout proposal from BHP Group, a deal that would create the world’s biggest copper miner churning out around 10% of global output.
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Insight
Tax development updates
In the last one year or so, various tax measures have been introduced by the government to increase Malaysia’s tax collections, including capital gains tax (CGT) and an expansion of the service tax scope with an increase in the service tax rate of 2% generally.
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Markets
Oil settles higher on weak US GDP growth, supply concerns
Oil prices settled higher on Thursday on worries of supply disruptions in Middle East supply as Israel stepped up airstrikes on Gaza's Rafah and on the US Treasury secretary's comments that the economy was performing well.
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Markets
Wall St set to open lower as Meta Platforms, economic data weigh
U.S. stocks were poised to open sharply lower on Thursday, dragged down by growth stocks after dour quarterly results from Meta Platforms, while signs of persistent inflation dampened hopes of the Federal Reserve cutting interest rates anytime soon.
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Corporate News
Al-’Aqar REIT aims to acquire yield-accretive properties from KPJ Healthcare
KUALA LUMPUR: Al-’Aqar Healthcare Real Estate Investment Trust (Al-’Aqar REIT) is actively targeting to acquire yield-accretive properties from KPJ Healthcare Bhd as part of its asset expansion plan.
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SME
Samenta wants micro enterprises to be exempted from e-invoicing
KUALA LUMPUR: The Small and Medium Enterprises Association of Malaysia (Samenta) has asked the government to exempt small traders and micro enterprises from the upcoming e-invoice regime.
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Corporate News
Pantech seeks Main Market listing for subsidiaries via SPV
KUALA LUMPUR: Pantech Group Holdings Bhd is considering listing Pantech Stainless & Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).
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Corporate News
Inta Bina secures RM224.80mil contract for serviced apartment project
KUALA LUMPUR: Inta Bina Group Bhd’s wholly-owned subsidiary Inta Bina Sdn Bhd has been awarded a contract from Tropicana Metropark Sdn Bhd to construct and complete main building works for a serviced apartment project for RM224.80 million.
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Markets
UMediC transfers to Main Market
KUALA LUMPUR: The listing of the shares of UMediC Group Bhd will be transferred to the Main Market of Bursa Malaysia from the ACE Market under the “healthcare” sector on April 29.
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Forex
Ringgit closes marginally higher against US dollar
KUALA LUMPUR: The ringgit traded marginally higher at the close on Thursday against the US dollar ahead of first quarter gross domestic product (GDP) data in the United States later tonight.