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Economy

Inflation rate up 3.7% in August, exceeds forecast

KUALA LUMPUR: Malaysia's inflation rate rose at a faster pace of 3.7% in August 2017 from a year ago, exceeding a forecast of a 3.4% increase, mainly fuelled by higher petrol prices.

Corporate News

Moody's assigns A3 to Cagamas Global's S$ debt notes

KUALA LUMPUR: Moody's Investors Service has assigned an A3 rating to Cagamas Global PLC.'s Singapore dollar denominated senior unsecured notes due September 2018.

Business

China could allow foreign-owned electric vehicle businesses

BEIJING: China is discussing a plan to allow foreign carmakers to set up wholly owned electric-vehicle businesses in its free-trade zones in a major revision of a fundamental principle governing the country’s auto industry policy since the 1990s, according to company officials briefed on the matter.

Nation

IGP: Parents of tahfiz arson suspects will not be charged

KOTA BARU: The parents of the tahfiz arson suspects will not be charged in court as speculated in social media, said Tan Sri Mohamad Fuzi Harun.

World

Hurricane Maria nearing St. Croix in U.S. Virgin Islands - NHC

(Reuters) - The eye of Hurricane Maria will move near or over St. Croix in the U.S. Virgin Islands over the next couple of hours and cross Puerto Rico on Wednesday, the U.S. National Hurricane Center said in its latest advisory.

Nation

Selangor told to prepare for big waves due to high tides over next three months

SHAH ALAM: Residents in coastal areas here have been cautioned to be prepared for possible flooding due to a rise in sea levels caused by big waves due to high tides.

Philippines

Nine communist rebels dead in Philippine clash

Manila (AFP) - Philippine troops killed nine communist guerrillas Wednesday in what officials described as a firefight, as the decades-old insurgency rumbled on after President Rodrigo Duterte called off peace talks.

World

Trump administration red tape tangles up visas for skilled foreigners, data shows

WASHINGTON (Reuters) - The Trump administration is making it more difficult for skilled foreigners to work in the United States, challenging visa applications more often than at nearly any point in the Obama era, according to data reviewed by Reuters.   

Business

EU ready to move alone on digital tax if no global deal

BRUSSELS: The European Commission said the EU should proceed with an overhaul of taxes on digital firms even if the rest of the rich world did not follow suit, a draft report said.

Markets

Wall St opens little changed; Fed takes centre stage

NEW YORK: Wall Street opened little changed on Wednesday as investors waited for the conclusion of the two-day Federal Reserve meeting for indications of a third interest rate hike this year.