Economy

Opening up of services expected to widen in China

China will further open up its services sector, promote convenient cross-border flow of various innovation elements, and optimise the environment for the growth of trade in services, a senior official says.

Economy

Calls for food industry to go digital to cut costs, drive development

Digitalisation is key to improving efficiency and reducing costs for China’s food and beverage (F&B) industry, as well as driving its high-quality development, amid a period of rising revenue but declining profits, say business leaders and experts.

Corporate News

Nvidia’s Blackwell chip delay under the spotlight

Nervous Nvidia Corp investors are eager for an update on its Blackwell chip rollout – hoping for a catalyst to halt the stock’s recent decline.

Nation

‘Make agreements materialise’

SHANGHAI: Reminding Malaysian firms that agreements signed with international partners must not just be for “gimmicks”, Datuk Seri Dr Ahmad Zahid Hamidi says there should be follow-ups for the projects to materialise.

Badminton

Justin gives Gemke gem of a fight before bowing out in HK Open

PETALING JAYA: Malaysian men’s singles shuttler Justin Hoh (pic) gave Denmark’s Rasmus Gemke a valiant fight before bowing out in the first round of the Hong Kong Open yesterday.

Golf

Newly turned lady pros on collision course in Toyota Tour Qualifying

PETALING JAYA: It will be a battle between two newly-turned lady professionals when the third and final round of the Toyota Tour Qualifying School II gets under way at the tricky Kota Seriemas Golf and Country Club today.

Taxation

Minimal impact forecast from proposed sugar tax

Any new sugar tax that may be introduced in Budget 2025 would have a minimal impact on food and beverage (F&B) makers who have the option to pass on the cost to consumers or adjust the product portfolio to neutralise the tax imposed.

Economy

Robust July IPI fuels further growth hopes

The man on the street may not be making much of the hardworking Statistics Department’s frequent publication of index numbers, but economists are continuing to use them as a barometer to judge how the country’s growth is ticking along.

Corporate News

Contact Energy to buy NZ rival Manawa to grow power capacity

New Zealand power company Contact Energy has agreed to buy smaller rival Manawa Energy to create a business better able to develop the new generation the South Pacific nation requires.

Commodities

Oil price weakness due to inventory buildup

The weakness in oil prices is due mainly to the potential inventory buildup in the oil market and the expected interest rate cut by the US Federal Reserve (Fed).

Corporate News

Growth drivers underpin Frontken’s prospects

Frontken Corp Bhd’s second half (2H24) prospects look bright underpinned by several growth drivers amid downside risks.

Corporate News

Gamuda’s order book likely to exceed RM30bil

Gamuda Bhd’s outstanding order book will likely exceed RM30bil by the end of this year, following its recent job win in Sabah.

Corporate News

Concorde Hotel Kuala Lumpur not for sale

Concorde Hotel Kuala Lumpur is not for sale, says chairman of Ampang Hotel Sdn Bhd Tan Sri Sallehuddin Mohamed.

Economy

China still central to Asian trade, says S&P Global

China remains central to Asian trade, with gains in some countries at the margins on a regional scale, according to S&P Global Ratings.

Corporate News

UniCredit acquires 4.5% stake in Commerzbank

UniCredit SpA became a major shareholder in Commerzbank AG after buying the 4.49% stake held by the German government.

Forex

Ringgit rises against the greenback

The ringgit ended higher against the US dollar for the second consecutive day to approach its immediate support level of RM4.3259, an economist said.

Corporate News

Carsome upbeat about new partnerships

Online used-car platform Carsome Group Inc is optimistic about its new financing partnerships with AmBank Group, Malayan Banking Bhd and others, which will provide over RM200mil in new working capital to support its expansion plans.

Corporate News

Kerjaya Prospek bags RM293mil job

Kerjaya Prospek Group Bhd’s wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has secured a contract from Mega Legacy (M) Sdn Bhd, a subsidiary of UEM Sunrise Bhd, for a building project in Batu, Kuala Lumpur for RM292.8mil.

Corporate News

BMW recall and VW job threat deepen German industry crisis

German carmakers are sinking deeper into a crisis undermining the future of the country’s most important industry, with BMW AG warning that profits will get hit by a costly brake problem and Volkswagen (VW) AG scrapping job protections that workers have enjoyed for three decades.

Business

Heineken clinches three gold sustainability awards

Heineken Malaysia Bhd bagged three gold awards for water management and efficiency, innovative partnership and waste management at the ESG Positive Impact Awards 2023.