Money

  • Chinese state media tone down criticism of video game industry

    1 day ago

    Chinese state media tone down criticism of video game industry

    SHANGHAI, Aug 4 — Chinese state media tempered their criticism of the video game industry today, a day after a strongly worded article drove down shares in Tencent Holdings,...

  • Asian markets mostly up as recovery optimism takes centre stage

    1 day ago

    Asian markets mostly up as recovery optimism takes centre stage

    HONG KONG, Aug 4 — Asian equities mostly rose today, in line with the recent volatility in global markets as optimism over the economic recovery and coronavirus vaccinations...

  • Bursa Malaysia resumes afternoon session lower

    1 day ago

    Bursa Malaysia resumes afternoon session lower

    KUALA LUMPUR, Aug 4 — Bursa Malaysia resumed the afternoon session lower, with the key index remaining below the 1,500 level, as weak market sentiment curbed investors’ risk...

  • Agriculture sector contributed 1.1pc to Malaysia’s GDP in Q3 2020

    1 day ago

    Agriculture sector contributed 1.1pc to Malaysia’s GDP in Q3 2020

    KOTA BHARU, Aug 4 — The agriculture sector contributed 1.1 per cent to the gross domestic product (GDP) in the third quarter of last year. Agriculture and Food...

  • Sony upgrades annual profit outlook on strong Q1 performance

    1 day ago

    Sony upgrades annual profit outlook on strong Q1 performance

    TOKYO, Aug 4 — Sony upgraded its full-year profit forecast Wednesday on the back of a strong quarterly performance, although the pandemic boom enjoyed by the gaming sector is...

  • Toyota Q1 net profit rockets to US$8.2b, forecast unchanged

    1 day ago

    Toyota Q1 net profit rockets to US$8.2b, forecast unchanged

    TOKYO, Aug 4 — Toyota said Wednesday that net profit jumped more than 460 per cent in the first quarter, boosted by strong sales fuelled by the recovery from the coronavirus...

  • Covid-19: Malaysia, SE Asian factories hit by vaccination woes, Delta as economic recovery at risk

    1 day ago

    Covid-19: Malaysia, SE Asian factories hit by vaccination woes, Delta as economic recovery at risk

    TOKYO, Aug 4 — Fresh outbreaks of the Delta coronavirus variant in South-east Asia have crippled its factory sector, disrupting global supplies of goods such as rubber gloves,...

  • Statistics Dept: Export, import unit value indices record positive growth in June

    1 day ago

    Statistics Dept: Export, import unit value indices record positive growth in June

    KUALA LUMPUR, Aug 4 — Malaysia’s monthly export and import unit value indices continued to record a positive growth in June 2021 at 1.9 per cent and 0.5 per cent,...

  • Ringgit opens lower as oil prices ease

    1 day ago

    Ringgit opens lower as oil prices ease

    KUALA LUMPUR, Aug 4 — The ringgit retreated to open lower on Wednesday as Brent crude oil price settled lower. At 9.06am, the local note dropped to 4.2260/2290 versus...

  • Racial employment divide continues in recovering US economy

    1 day ago

    Racial employment divide continues in recovering US economy

    WASHINGTON, Aug 4 — As vaccines help quell Covid-19 cases, millions of Americans have gone back to work — but fewer Black and Hispanic workers are being rehired, entrenching...

  • Bursa opens lower on Covid-19 concerns

    1 day ago

    Bursa opens lower on Covid-19 concerns

    KUALA LUMPUR, Aug 4 — Bursa Malaysia opened broadly lower today, in tandem with its regional peers as heightened Covid-19 cases weighed on sentiment. At 9.05am, the benchmark...

  • 1 day ago

    Kenanga maintains ‘outperform’ rating on Genting Plantations on upstream outlook

    KUALA LUMPUR, Aug 4 — Genting Plantations Bhd’s (GenP) ‘outperform’ rating was maintained by Kenanga Investment Bank Bhd with a target price (TP) of RM7.56 per share,...

  • US SEC chair Gensler calls on Congress to help rein in crypto ‘Wild West’

    2 days ago

    US SEC chair Gensler calls on Congress to help rein in crypto ‘Wild West’

    WASHINGTON, Aug 4 — The chair of the US Securities and Exchange Commission (SEC) on Tuesday called on Congress to give the agency more authority to better police cryptocurrency...

  • S&P 500 closes at record high as Apple, healthcare stocks help shrug off Delta worries

    2 days ago

    S&P 500 closes at record high as Apple, healthcare stocks help shrug off Delta worries

    KUALA LUMPUR, Aug 4 — The S&P 500 index closed at record high on Tuesday on gains in Apple and healthcare stocks, despite concerns over a surge in the Delta variant of the...

  • Slow slog in US Senate for US$1t infrastructure bill

    2 days ago

    Slow slog in US Senate for US$1t infrastructure bill

    WASHINGTON, Aug 4 — The US Senate made gradual progress on Tuesday on a US$1 trillion (RM4.2 trillion) infrastructure investment bill to upgrade roads, bridges, mass transit and...

  • Stellantis posts strong inaugural earnings, steps up electric drive

    2 days ago

    Stellantis posts strong inaugural earnings, steps up electric drive

    PARIS, Aug 3 — US-European auto giant Stellantis, formed by Peugeot and Fiat Chrysler this year, posted today a sizeable first-half net profit and announced that its Alfa Romeo...

  • US stocks dip on mixed earnings, growth worries

    2 days ago

    US stocks dip on mixed earnings, growth worries

    NEW YORK, Aug 3 — Wall Street stocks edged lower early today as markets weighed mixed corporate earnings against global growth worries in light of the latest Covid-19...

  • Sources: Mexico near deal to buy Sig Sauer automatic rifles from US

    2 days ago

    Sources: Mexico near deal to buy Sig Sauer automatic rifles from US

    WASHINGTON, Aug 3 — The small arms maker Sig Sauer Inc has sought US approval to sell millions of dollars’ worth of automatic assault rifles to the armed services of Mexico in...

  • Activision Blizzard executive exits following sexism row

    2 days ago

    Activision Blizzard executive exits following sexism row

    WASHINGTON, Aug 3 — Activision Blizzard unveiled a management shakeup today following employee protests and a California state lawsuit alleging the Call of Duty game giant...

  • EU makes first payments from huge recovery plan

    2 days ago

    EU makes first payments from huge recovery plan

    BRUSSELS, Aug 3 — The European Union made the first pay-outs to member states today from its €800-billion (RM4 trillion) post-coronavirus recovery plan. The first instalments...

  • HPP Holdings ceases operations in four facilities in Melaka from Aug 3-17 due to Covid-19

    2 days ago

    HPP Holdings ceases operations in four facilities in Melaka from Aug 3-17 due to Covid-19

    KUALA LUMPUR, Aug 3 — HPP Holdings Bhd would temporarily cease its operations in four of its manufacturing facilities in Taman Teknologi Cheng, Melaka from August 3-17, 2021 to...

  • PepsiCo to sell Tropicana, other juice brands for US$3.3b

    2 days ago

    PepsiCo to sell Tropicana, other juice brands for US$3.3b

    NEW YORK Aug 3 — PepsiCo Inc unveiled a US$3.3 billion (RM13.9 billion) sale of its Tropicana and other juice brands in North America to French private equity firm PAI Partners...

  • HB Global wins RM10m job from Axiata

    2 days ago

    HB Global wins RM10m job from Axiata

    KUALA LUMPUR, Aug 3 — HB Global Limited’s (HB Global) subsidiary Forward Resources and Construction Sdn Bhd (FRC) has accepted a RM10 million project from Axiata Group Bhd’s...

  • Ringgit ends higher versus US dollar

    2 days ago

    Ringgit ends higher versus US dollar

    KUALA LUMPUR, Aug 3 — The ringgit ended higher against the US dollar today, which coincided with firmer Brent crude oil price, said an analyst. At 6pm, the local note rose to...

  • Sources: ADB, Citi, HSBC, Prudential hatch plan for Asian coal-fired closures

    2 days ago

    Sources: ADB, Citi, HSBC, Prudential hatch plan for Asian coal-fired closures

    LONDON, Aug 3 — Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia’s...

  • Bursa Malaysia recoups earlier losses to end at intraday high

    2 days ago

    Bursa Malaysia recoups earlier losses to end at intraday high

    KUALA LUMPUR, Aug 3 — Bursa Malaysia recouped earlier losses to end in positive territory today, with the key index closing at its intra-day high, thanks to buying support in...

  • When the chips are down: global shortage to keep crimping carmakers

    2 days ago

    When the chips are down: global shortage to keep crimping carmakers

    LONDON, Aug 3 — BMW and Stellantis became the latest major carmakers to warn today that the global semiconductor chip shortage that has bedeviled the industry this year will...

  • Kanger International confident of returning to black in FY22, driven by construction business

    2 days ago

    Kanger International confident of returning to black in FY22, driven by construction business

    KUALA LUMPUR, Aug 3 — Kanger International Bhd (Kanger) is confident of returning to the black in the coming financial year ended March 31, 2022 (FY 2022), driven by the...

  • MPOB: Malaysian Sustainable Palm Oil certification at final stage of revision, expected to be ready soon

    2 days ago

    MPOB: Malaysian Sustainable Palm Oil certification at final stage of revision, expected to be ready soon

    KUALA LUMPUR, Aug 3 — The Malaysian Sustainable Palm Oil (MSPO) certification is currently at the final stage of revision and is expected to be ready by the end of 2021 or early...

  • SME Bank’s sustainability sukuk aims to transit Malaysian SMEs into green circular economy

    2 days ago

    SME Bank’s sustainability sukuk aims to transit Malaysian SMEs into green circular economy

    KUALA LUMPUR, Aug 3 — SME Bank expects its Sustainability Islamic Medium-Term Notes (IMTNs) would pave the way in transiting small and medium entrepreneurs (SMEs) into the green...

  • Tencent woes in China pressure European gaming stocks

    2 days ago

    Tencent woes in China pressure European gaming stocks

    LONDON, Aug 3 — Shares in Europe’s gaming companies fell today following a drop in China’s social media and video games giant Tencent on fears that the gaming sector may be...

  • European stocks hit record highs as earnings help dispel early gloom

    2 days ago

    European stocks hit record highs as earnings help dispel early gloom

    BRUSSELS, Aug 3 — Strong earnings updates from oil major BP, banks and others drove European stocks to record highs today even as concerns lingered over rising Delta variant...

  • Strong earnings, dividend bonanza push FTSE 100 higher

    2 days ago

    Strong earnings, dividend bonanza push FTSE 100 higher

    LONDON, Aug 3 — London’s FTSE 100 gained today as a set of upbeat earnings results supported optimism around a faster economic recovery, although gains were checked by...