Tag: Economy
Eurojust Aids Crackdown on EUR 645 Million Medicinal Cannabis Fraud Across Europe
Eurojust aids in dismantling a multi-million Euro fraud scheme involving fake investments in medicinal cannabis plants across Europe, marking a significant collaborative effort to combat transnational financial crimes.
Israel’s Response to Iran’s Attack: Netanyahu Defiant, Raisi Warns of Harsh Retaliation
Iran's President Ebrahim Raisi issued a stern warning against any Israeli retaliation, stating that even the smallest incursion into Iranian territory would result in a severe and extensive response. The heightened rhetoric comes in the aftermath of Iran's barrage of missiles and drones launched at Israel over the weekend, purportedly in retaliation for an Israeli strike that claimed the lives of two Iranian generals.
Bursa Malaysia inks collaboration with UMW, Maybank to roll out centralised sustainability platform
Bursa Malaysia Bhd, UMW Corp Sdn Bhd, and Malayan Banking Bhd (Maybank) have agreed to work together. Under a memorandum of understanding to develop...
ECB hawks press case for more rate hikes to fight inflation
Two prominent hawks on the European Central Bank's (ECB) policymaking Governing Council predict that the bank will likely need to hike interest rates further....
Germany, Japan seek economic cooperation
During their first-ever high-ministerial government meetings, held in the midst of concerns over global supply chains and the economic repercussions of the war in...
Malaysia exports rise 9.8% to RM204.99bil in Feb
KUALA LUMPUR: From the same month the year before, Malaysia's exports increased by 11% to RM204.99 billion in February 2023. With both export and...
Malaysian banks rating intact despite US bank failures – RAM Ratings
The bankruptcy of the Silicon Valley Bank (SVB) and two other smaller banks last week has little bearing on the ratings of Malaysian institutions,...
Silicon Valley Bank (SVB) Financial seeks bankruptcy protection as banking turmoil persists
Days after its former subsidiary Silicon Valley Bank (SVB) was taken over by US regulators. SVB Financial Group announced on Friday that it had...
Silicon Valley Bank SVB run exposes rifts in venture capital world
SAN FRANCISCO: The failure of Silicon Valley Bank (SVB) has exposed differences within the typically close-knit venture capital (VC) industry. With some investors blaming...
Singapore bank stocks hit by Credit Suisse crisis
SINGAPORE: Local bank stocks fell when the market started yesterday morning. Due to concerns that the crisis enveloping Switzerland's second-largest bank and a succession...
Maybank introduces financing solution for EV, hybrid users
KUALA LUMPUR: Malayan Banking Bhd (Maybank) has unveiled a groundbreaking integrated auto finance solution that addresses all facets of owning an electric vehicle (EV)...
Three nations to be largest sovereign sukuk issuers
KUALA LUMPUR: According to Moody's Investors Service, Malaysia, Indonesia, and Turkiye will overtake Saudi Arabia. As the leading sovereign issuers in 2023–2024. Which had...
Malaysia’s palm oil stocks slide 6.56% in Feb
KUALA LUMPUR: The Malaysian Palm Oil Board reported that the country's overall palm oil stockpiles decreased by 6.56% to 2.11 million tonnes in February...
Malaysia Banks to be held up by resilient earnings
PETALING JAYA: As investors seek refuge in better yielding stocks amid recessionary fears, banks may notice an increase in interest.
Despite the fact that financial...
Malaysia attracts RM264.6bil approved investments in 2022, 2nd largest ever recorded: Tengku Zafrul.
KUALA LUMPUR: In 2022, Malaysia will have approved RM264.6 billion worth of investments. With the services sector taking the lion's share of the market,...
Vietnam lures US$3.1 billion in FDI in first two months of 2023
In the first two months of 2023, Vietnam committed $3.1 billion in total foreign direct investment. This is a 38% decrease from the...
MBSB Bank, Prec ink pact to drive cashless business transactions among SMEs
PKNS Real Estate Sdn Bhd (Prec) and MBSB Bank Bhd (MBSB) have signed a memorandum of understanding (MoU) to work together. To promote cashless...
EV-related stocks advance after Tesla gets approval to import electric vehicles into Malaysia
KUALA LUMPUR: Following the Ministry of International Trade and Industry's (Miti) approval of Tesla's application to import battery electric vehicles (BEVs) into Malaysia. The...
New China-Laos-Thailand train builds efficiency for China and Asean trade
BEIJING: The China-Laos Railway's extension, the round-trip China-Laos-Thailand train, was successfully launched.
Trade between China and Asean members is anticipated to gain new momentum thanks...
Malaysia not going into recession, growth set to continue in 2023: Bank Negara Malaysia...
Malaysia is unlikely to enter a recession this year. According to Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus, as strong domestic...
US forces returning to Philippines to counter China threats
More than 30 years after the closure of its sizable bases there, the US has been taking steps to rebuild its military power in...
China investment will boost green economy in Malaysia, says biz leader
IPOH: According to a prominent member of the business community. Increased Chinese investment will aid Malaysia in its transition to low-carbon development.
According to Datuk...
Asian FX, stocks rise as strong U.S. GDP data aids risk sentiment
The Philippine Peso and the Malaysian Ringgit led advances among Asian currencies on Friday. As overnight data revealed the U.S. economy's resiliency, increasing investor...
Malaysia’s total trade up 8.6% to RM236bil in December 2022
Malaysia’s total trade for December 2022 amounted to RM236.0 billion. An increase of 8.6 per cent year-on-year (y-o-y). With exports rising 6.0 per cent...
Indonesia’s Asean presidency to focus on economic growth, says senior minister Airlangga Hartarto
Jakarta Indonesia: According to a senior economic minister, Indonesia's leadership of Asean in 2023 will primarily be focus on fostering sustainable growth in the...
Hong Kong’s Cathay Pacific flags up to US$893.77 million loss in 2022
HONG Kong:Despite predicting a loss of between HK$6.40 billion (US$817.18 million) and HK$7.00 billion for the fiscal year 2022, Cathay Pacific Airways Ltd. underlined...
EU faces big subsidy rift before facing US
Sweden's KIRUNA: There are growing concerns that the continent's heavyweights may benefit at the expense of the smaller member states. As the European Union...
Global food prices in 2022 hit record high amid drought, war
ROME: According to the U.N. Food and Agriculture Organization, global prices for food commodities such as grains and vegetable oils reached their highest levels...
EU to mobilise RM47bil for Asean investments
PETALING JAYA: The European Union (EU) and its member states have announced a mobilization of €10 billion (US$10.59 billion or RM47.04 billion). As part...
Chile ratifies CPTPP, a big opportunity for Malaysian businesses: Tengku Zafrul
KUALA LUMPUR: According to Tengku Datuk Seri Zafrul Abdul Aziz, Minister of International Trade and Industry, Chile's decision to ratify the Comprehensive and Progressive...
Malaysia consumer sector expected to remain robust
PETALING JAYA: The consumer sector will continue to grow well, Due to strong domestic demand and supply chain enhancements. That will make restocking operations...
EU approves new sanctions against Russia over Ukraine war
BRUSSELS: The European Union announced on Thursday that it had agreed on a fresh round of sanctions meant to increase the pressure on Russia...
IBM partners with new chipmaker Rapidus to make up lost ground
TOKYO: IBM Corp. claims that it is collaborating with Rapidus a recently established chipmaker sponsored by the Japanese government. To assist it to produce...
Bursa Malaysia announces 21 additions to F4GBM index constituents
KUALA LUMPUR: The FTSE4Good Bursa Malaysia (F4GBM) Index and the FTSE4Good Bursa Malaysia Shariah (F4GBMS) Index now has 98 constituents overall. After 21 fresh...
Global semiconductor equipment sales to hit record US$108.5bil this year
PETALING JAYA: The Semiconductor Equipment Manufacturers Industry, based in the US. Predicts that global sales of all semiconductor manufacturing equipment by original equipment manufacturers...
US banks warn of recession amid rising inflation
According to CEOs, the largest US banks are preparing for a poorer economy next year as inflation threatens consumer demand.
Jamie Dimon, the chief executive...
Asia stocks edge up despite global growth worries.
Hong Kong and China stocks helped up Asian shares despite mounting concerns about an impending economic slowdown and the speed at which the Federal...
Malaysian economy relatively resilient in 2023, says ICAEW
PETALING JAYA: The Institute of Chartered Accountants in England and Wales forecasts a bleak start for Asian economies in 2023. But it won't last...
Retail loan growth likely to remain strong
PETALING JAYA: Despite waning sectoral tailwinds, banking stocks are still regarded as "safe" investments. In the face of potential economic difficulties.
"The banking industry can...
Oil prices climb after Opec+ keeps output cut targets, China eases Covid curbs
As a result of OPEC+ countries maintaining their output objectives in advance of a European Union ban. The start of a price restriction...
Sarawak targets revenue of RM11bil by 2023
Sarawak aims to earn more than RM 11 billion in income the following year, which would be a record. Approximately 48%, or RM5.25 billion,...
RHB Bank on course to meet KPI targets
Despite the difficult operating environment, RHB Bank Bhd is on pace to achieve the majority of its key performance indicator (KPI) targets for the...
KLCI falls as investors take profit, ringgit at 4.4760
On Friday, the Ringgit increased its advances and reached a three-month high. At 5 pm, the local currency was trading at 4.4760, up 0.43%...
BNM issues exposure draft on licensing framework for DITOs
Following the release of the discussion paper earlier this year. Bank Negara Malaysia (BNM) today released the exposure draft on the licensing and regulatory...
Budget 2023 will be among the focus for the 15th Malaysian parliament session
KUALA LUMPUR: Before Budget 2023, the first topic to be debate in the Parliament session will be important. The parliment debate under Prime Minister Datuk...
Malaysian banks’ loan growth to stay at 5-6% in 2023 on economic stability, says...
S&P Global Ratings anticipates that the Malaysian banking sector will continue to expand loans at a rate of 5% to 6% in 2023 as...
Brunei gets top ranking for business regulation from top international economic freedom survey
BANDAR SERI BEGAWAN: Brunei has performed very well in regulation and secured second ranking globally. According to the Canadian conservative think tank, Fraser Institute’s...
Ambank Aids SMEs Via Strategic Partnership With PUMM
AmBank has entered into a two-year strategic partnership with Persatuan Usahawan Maju Malaysian (PUMM). Which will pave the way for AmBank to work with...
Malaysia unlikely to go into recession due to economic diversification
KUALA LUMPUR: Malaysia is not likely to slip into a recession due to the diversified structure of its economy. Which is less dependent on...
Hong Kong once again ranked as world’s freest economy
HONG KONG: The Hong Kong Special Administrative Region government on Thursday welcomed the Fraser Institute’s recognition of the territory as the world’s freest economy.
In...
Franchise sales to increase to RM23bil by 2025
PETALING JAYA: Malaysia’s franchise industry is expected to see its sales value increase to RM22.66bil by 2025 from RM14.65bil in 2020, says Prime Minister...
Asian stock markets mixed ahead of latest US jobs reading
Asian stock markets were mixed ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging...
Standard Chartered Malaysia Launches SmartStocks
KUALA LUMPUR: Standard Chartered Malaysia has launched SmartStocks, a one-stop online share trading platform. Bringing clients the convenience of trading on 12 exchanges across...
IMF set to provide $2.9 billion to help crisis-hit Sri Lanka
COLOMBO, Sri Lanka: The International Monetary Fund has reached a preliminary agreement to provide Sri Lanka with $2.9 billion, over four years to help...
S&P downgrade indicates Russia headed for historic default
BOSTON USA: The credit rating agency Standard & Poor’s has downgraded its assessment of Russia’s ability to repay foreign debt. Signaling rising prospects that...
The U.S. reinstates 352 product exclusions from China tariffs.
WASHINGTON USA: The U.S. Trade Representative's office said on Wednesday it has reinstated 352 expired product exclusions from U.S. "Section 301" tariffs on Chinese...
Singapore core inflation cools while acceleration risks loom
SINGAPORE: Core inflation in Singapore cooled slightly last month. But is expected to pick up further in the near term, setting the stage for...
