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HONG KONG (Bloomberg): Hong Kong's Financial Secretary Paul Chan pledged HK$120 billion (US$15.5 billion) of fiscal support targeted at consumers and the unemployed to help boost an economy emerging from two years of recession.
HONG KONG (AFP): Asian markets suffered fresh losses Wednesday (Feb 24) as concerns about rising inflation and frothy equity prices continued to sap confidence, with investors unmoved by reassurances from Federal Reserve boss Jerome Powell that officials would maintain record-low interest rates for as long as needed.
KUALA LUMPUR: Kenanga Research expects IOI Corp Bhd's earnings in the second half of its financial year to remain strong despite the seasonally weaker production.
KUALA LUMPUR: RHB Research is positive on Berjaya Sports Toto Bhd as its ticket sales recovery remains on track with 1HFY21 earnings in line with estimates.
WASHINGTON: Federal Reserve Chair Jerome Powell, pushing back on suggestions that loose monetary policy risked unleashing inflation and financial risks in what may be an emerging economic boom, said the central bank would keep its attention focused on getting Americans back to work as a vaccine-related recovery proceeds.
PETALING JAYA: Rising oil prices will help boost the prospects of Hibiscus Petroleum Bhd and lift investor sentiment towards its shares.
MUMBAI: Reliance Industries Ltd (RIL) has started carving out its new oil-to-chemicals (O2C) operation into an independent unit with a US$25bil loan from the parent, as billionaire Mukesh Ambani steps up efforts to unlock the value of his businesses.
NEW YORK: Elon Musk is no longer the world’s richest person after Tesla Inc shares slid 8.6% on Monday, wiping US$15.2bil from his net worth.