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Germany raises US$7.4bil in 5G spectrum auction

FRANKFURT: Germany raised €6.55bil (US$7.4bil) from its 5G mobile spectrum auction, the Federal Network Regulator (BNetzA) said after a near three-month battle that will see a fourth operator enter the market.

The sum pledged in a record 497 rounds of bidding for the 41 blocks on offer was more than analysts had expected, while operators complained that the price they were paying would sap their ability to invest in next-generation networks

UOB Malaysia launches business transformation plan

KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd launched a three-month business transformation programme on Thursday to help businesses in Malaysia adopt technology to drive productivity and growth.

Some limited upside bias for FBM KLCI, says HSBC

KUALA LUMPUR: There could be limited upside for the FBM KLCI although the bias remains to the upside, said HSBC Private Banking’s chief market strategist, Southeast Asia James Cheo.

Muted US inflation strengthens case for Fed rate cut

WASHINGTON: U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy increased pressure on the Federal Reserve to cut interest rates this year.

U.S. central bank policymakers are scheduled to meet on June 18-19 against the backdrop of rising trade tensions, slowing growth and a sharp step-down in hiring in May that has led financial markets to price in at least two rate cuts by the end of 2019.

BAuto posts highest net profit, dividend

PETALING JAYA: Bermaz Auto Bhd (BAuto) has posted its highest net profit and total dividend per share to date, registering an 89.5% year-on-year (y-o-y) increase in net profit to RM256.26mil for the financial year ended April 30.