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Food delivery giant Meituan’s sales beat estimates
MEITUAN Dianping’s shares soared after it reported a smaller than expected 13% slide in revenue that drove hopes the world’s largest meal delivery business is starting to recover as China emerges from Covid-19 lockdowns.
UOB Asset Management launches robo-advisory service
KUALA LUMPUR: UOB Asset Management (Malaysia) Bhd launched its UOBAM Invest, a robo-advisory service that provides customised investment portfolios online to help companies meet their investment goals.
Covid-19: AirAsia implements new travel policies
KUALA LUMPUR: AirAsia Group has implemented new travel policies for its passengers in light of the COVID-19 pandemic, including requiring guests to bring and wear their own face masks before, during and after their flight, as well as during check-ins and bag collection.
Furniture industry associations call on gov’t to hear concerns
​​​​​​​From the time tensions over trade between the United States and China began in 2018, China’s furniture exports to the United States became subject to tariffs of up to 25% by 2019, prompting many manufacturers to shift their positions to set up factories in Malaysia, followed by numerous buyers who have transferred orders to Malaysia.
Stimulus boost for local equity market
STOCKS on Bursa Malaysia have rallied more than 10% to 1,343 points this week as investors anticipated the multi-billion ringgit stimulus package by the government.
Singapore plans for deep recession
Economy hit by worst quarterly contraction in a decade due to virus outbreak
Tencent profit disappointment spurs caution on pandemic fallout
Bloomberg: Tencent Holdings Ltd. delivered disappointing earnings and warned about a difficult advertising environment in 2020, voicing caution about how China’s first economic contraction in decades might affect its sprawling businesses.
Singapore faces bigger contraction as Malaysia shuts borders
SINGAPORE: Malaysia’s travel restriction is the latest threat to a Singapore economy already reeling from the coronavirus outbreak.
Chips sector hard hit by Covid-19
GEORGE TOWN: The electronic manufacturing sector in Penang is the hardest hit by the coronavirus (Covid-19), as many of the test equipment and chip producers here face a serious shortage of raw materials, an unprecedented situation that has disrupted production.
Consumer confidence remains low
PETALING JAYA: The consumer confidence index (CCI) has declined for the fifth consecutive quarter since its all-time high after the 14th General Election, as more Malaysians remain apprehensive about job prospects.
