Markets

FBM KLCI ends on a high note; Property Index surges 2.26%

KUALA LUMPUR: The FBM KLCI closed on a positive note on Friday, supported by upbeat market sentiment despite a mixed performance across regional markets.

Corporate News

Japan says Seven & i now 'core' to national security

TOKYO: Japanese retail giant Seven & i Holdings has been classified as "core" to national security, according to an updated finance ministry list released on Friday.

Property

Battersea Power Station secures global marketing agency Team Lewis at 50 Electric Boulevard

KUALA LUMPUR: Battersea Power Station has signed global change marketing agency, Team Lewis, at 50 Electric Boulevard, the new Foster + Partners-designed workplace.

Auto

Proton's maiden EV undergoes extensive on-road testing

KUALA LUMPUR: Proton New Energy Technology Sdn Bhd (PRO-NET) has launched an extensive local testing phase for the national car maker’s maiden electric vehicle (EV), the Proton e.MAS 7.

Markets

Singapore stocks track 5th weekly gain; FX up on bets of big US rate cut

SINGAPORE stocks were set for their fifth straight weekly gain on Friday as the island state's strong economic outlook boosted investor sentiment, while Asian currencies firmed for the day on revived bets of a bigger rate cut in the United States.

Energy

Oil extends recovery to cap volatile week

OIL prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana.

Aviation

Boeing workers going on strike after 96% vote for walkout

BOEING's U.S. West Coast factory workers will walk off the job after 96% voted on Thursday in favor of a strike, halting production of the planemaker's strongest-selling jet as it wrestles with chronic output delays and mounting debt.

Economy

China to implement zero tariffs for LDCs

CHINA has become the first developing country and major global economy to offer zero-tariff treatment on all products from the least developed countries (LDCs), strengthening solidarity and cooperation within the Global South while boosting Africa's exports, said the Ministry of Commerce on Thursday.

Technology

Malaysia says its tech boom will withstand US election ripples

MALAYSIA’s goal of boosting investments in its growing technology exports sector is unlikely to be affected by the results of the US election, according to Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Corporate News

PGF Capital acquires Kulim land for RM40mil to boost insulation production

KUALA LUMPUR: PGF Capital Bhd has proposed a piece of freehold land measuring 96,720 square metres in Kulim, Kedah for RM40mil.

Technology

No major change expected in chip industry post-US elections - Tengku Zafrul

KUALA LUMPUR: Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said today that Malaysia expects no major change in the chip industry post-United States presidential election on Nov 5, 2024.

Corporate News

Seal's unit secures RM645mil contract from Sabah Electricity

KUALA LUMPUR: Seal Incorporated Bhd's associate company, MSR Green Energy Sdn Bhd (MSRGE), has accepted a letter of award from Sabah Electricity Sdn Bhd (SESB) for a battery energy construction job worth RM645 million.

Corporate News

Hong Leong Asset Management appoints Chue Kwok Yan as CEO

KUALA LUMPUR: Hong Leong Asset Management Bhd (Hong Leong AM) has appointed Chue Kwok Yan as its chief executive officer (CEO) effective Sept 11, having obtained approval from the Securities Commission (SC).

Markets

FBM KLCI climbs 8 points as momentum builds

KUALA LUMPUR: The FBM KLCI remained firmly above the resistance level at midday, as investors awaited the outcome of the U.S. Federal Reserve's interest rate decision scheduled for next week.

Auto

Chinese EV companies in negotiations to invest in Perlis

KANGAR: Several companies from China are in negotiations with the authorities on investments in Perlis, especially in the Chuping area near Padang Besar.

Banking

Alliance Islamic Bank teams up with Asia Carbonx to launch new green financing for SMEs

KUALA LUMPUR: Alliance Islamic Bank Bhd has partnered with Asia Carbonx Change Plt (Carbonx) to provide a new sustainability program with green and transition financing solutions for SMEs to support their sustainability journey.

Analyst Reports

MIDF: Malaysia's passenger traffic full recovery may be delayed

KUALA LUMPUR: MIDF Amanah Investment Bank Bhd expects delays in Malaysia’s passenger traffic recovery due to recent challenges some airlines face, which include aircraft deliveries and parts and labour shortages.

Analyst Reports

HLIB Research positive on ITMAX's new contract win

KUALA LUMPUR: ITMAX Systems Bhd’s shares rose 2.45% in early trade Friday on news that the company has secured a 15-year smart parking contract in Tangkak, Johor.

Stock on the Move

Quick take: IQ Group jumps 20% in early trade

KUALA LUMPUR: Shares in IQ Group Holdings Bhd jumped over 20% in early Friday trade, making it one of the top gainers on Bursa Malaysia.

Forex

Ringgit opens higher against weakening US dollar

KUALA LUMPUR: The ringgit opened higher against the weakening greenback today as the latest US economic data reinforced expectations for an interest rate cut in the United States, an economist said.