Latest
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Banking
More Fed officials ready to say goodbye to low-rate world
A growing number of Federal Reserve officials don't see a return to the ultra-low interest rates that prevailed before the COVID-19 pandemic due to everything from ballooning federal deficits to demand for investments in green energy, artificial intelligence and domestic manufacturing.
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Economy
China travel surges for May holiday but consumers remain wary
TRAVEL by rail and car across China surged on Wednesday, the first day of a major public holiday, as consumers remained focused on keeping expenses down in a challenged economy.
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Markets
Dollar near five-month highs ahead of Fed policy decision
LONDON: The dollar edged towards its highest level this year against a basket of peers and U.S. share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.
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Cryptocurrency
Crypto washout sends bitcoin below US$58,000 into bear market
LONDON: Bitcoin fell for a third day on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later.
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Energy
Oil falls for a third day as Middle East ceasefire hopes rise
OIL prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East and on rising crude inventories and production in the U.S., the world's biggest oil consumer.
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Markets
Japan's Nikkei ends lower as investors brace for Fed policy decision
TOKYO: Japan's Nikkei share average closed lower on Wednesday, with traders maintaining a cautious stance on the first day of the month ahead of the U.S. Federal Reserve's monetary policy decision.
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Aviation
AirAsia can withstand unfavourable currency movements, rising oil prices
PHNOM PENH: AirAsia believes it is capable of confronting rising fuel prices and the continued unfavourable currency movements, which continue to heighten global challenges.
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Auto
Musk disbands Tesla EV charging team, leaving customers in the dark
DETROIT: Elon Musk's abrupt decision to lay off employees who ran Tesla's electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday.
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Commodities
Gold hits near four-week low as traders ready for Fed verdict
GOLD prices fell on Wednesday to their lowest level in nearly four weeks as investors looked towards a U.S. Federal Reserve policy decision that could offer for more cues on its rate-cut timeline.
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Corporate News
Microsoft to open first regional data centre in Thailand
BANGKOK: Microsoft will open its first regional data centre in Thailand, the tech giant said on Wednesday, as it looks to boost availability of cloud services.
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Economy
South Korea exports rise for seventh month on growing chip demand
SEOUL: South Korea's exports rose for a seventh straight month in April, trade data showed on Wednesday, as strong demand for chips continued to lead growth while automobile sales and U.S. shipments climbed to record highs.
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Technology
Semiconductor plan timely for Malaysia to secure position at global supply chain’s forefront
KUALA LUMPUR: The formulation of a comprehensive semiconductor plan is timely for Malaysia to secure a position at the forefront of the global supply chain, according to InvestPenang chief executive officer Datuk Loo Lee Lian.
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Corporate News
McDonald's posts rare profit miss as customers turn picky
McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales.
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Energy
Oil falls for a third day as U.S. crude inventories swell
NEW YORK: Oil prices fell for a third day on Wednesday on rising crude inventories and production in the U.S., the world's biggest oil consumer, along with increasing hopes of a ceasefire agreement in the Middle East.
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Economy
China's economic outlook is far from gloomy
CHINA's vast economy — 1.4 billion people spread over 9.6 million square kilometers and a $18 trillion GDP — is made up of so many distinct and disparate features that any observer can easily find themes to support a predetermined optimistic or pessimistic outlook.
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Economy
Japan's factory activity falls slow, PMI shows
TOKYO: Japan's factory activity shrank at a slower pace in April as declines in output and new orders eased, a private-sector survey showed on Wednesday.
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Markets
US stocks fall as markets weigh wage data, Fed meeting
US stocks ended lower on Tuesday as markets weighed economic data showing rising labour costs and deteriorating consumer confidence on the day of a key Federal Reserve policy meeting to decide the direction of interest rates.
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Commodities
Oil eases on higher US crude output
Oil prices fell 1% on Tuesday, extending losses from Monday, on the back of rising US crude production, as well as hopes of an Israel-Hamas ceasefire.
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Investment
Public Mutual declares distributions of RM130mil for four funds
KUALA LUMPUR: Public Bank Bhd’s wholly-owned subsidiary, Public Mutual Bhd has declared distributions amounting to over RM130mil for four funds.
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Insight
Let foreign investments boost the Philippines
Many problems keep the ordinary Filipino up at night. A recent Pulse Asia survey commissioned by the Stratbase Institute said seven in 10 Filipinos are deeply concerned with the escalating inflation crisis. This concern is first on the list of respondents’ urgent national concerns.