Money

  • 21 hours ago

    Maybank IB turns ‘positive’ on PChem near-to-mid-term outlook

    KUALA LUMPUR, Oct 18 — Maybank Investment Bank (Maybank IB) has turned “positive” on Petronas Chemicals Bhd’s (PChem) near-to-mid-term earnings outlook, on the back of...

  • Asian shares jittery ahead of China GDP; oil hits fresh highs

    22 hours ago

    Asian shares jittery ahead of China GDP; oil hits fresh highs

    HONG KONG, Oct 18 — Asian shares were on edge this morning ahead of the release of Chinese economic data for the third quarter, as investors fret about the health of the...

  • Bursa Malaysia opens firmer

    22 hours ago

    Bursa Malaysia opens firmer

    KUALA LUMPUR, Oct 18 — Bursa Malaysia opened firmer today, extending last week’s positive momentum following positive cues from Wall Street which was lifted by optimism on the...

  • Dollar wavering as global inflation surges; kiwi jumps

    22 hours ago

    Dollar wavering as global inflation surges; kiwi jumps

    SINGAPORE, Oct 18 — The dollar made a wobbly start to the week today with the kiwi and sterling edging higher after a red-hot inflation readout in New Zealand and hawkish...

  • China Q3 GDP growth hits one-year low, raising heat on policymakers

    23 hours ago

    China Q3 GDP growth hits one-year low, raising heat on policymakers

    BEIJING, Oct 18 — China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks and...

  • British petrochemicals manufacturer Ineos announces £1.7b green hydrogen investment

    1 day ago

    British petrochemicals manufacturer Ineos announces £1.7b green hydrogen investment

    LONDON, Oct 18 — British petrochemicals manufacturer Ineos today announced it will invest more than €2 billion (£1.69 billion, RM8.3 billion) in zero-carbon green hydrogen...

  • Facebook announces 10,000 EU jobs to build ‘metaverse’

    1 day ago

    Facebook announces 10,000 EU jobs to build ‘metaverse’

    PARIS, Oct 18 — Facebook today announced plans to hire 10,000 people in the European Union to build the “metaverse”, a virtual reality version of the internet that the tech...

  • China faces challenges from ‘mismanagement’ at certain firms, says PBOC head

    1 day ago

    China faces challenges from ‘mismanagement’ at certain firms, says PBOC head

    BEIJING, Oct 17 — China’s economy is “doing well”, but faces challenges such as default risks for certain firms due to “mismanagement”, the People’s Bank of China...

  • No fear of inflation ‘runaway train’, says IMF chief

    1 day ago

    No fear of inflation ‘runaway train’, says IMF chief

    WASHINGTON, Oct 17 — Global finance officials are worried about rising inflation pressures but there it is little fear that it will become a “runaway train,” IMF chief...

  • Nafas: 10,000 farmers nationwide benefit from Prihatin Peladang programme

    1 day ago

    Nafas: 10,000 farmers nationwide benefit from Prihatin Peladang programme

    BELURAN, Oct 17 — Almost 10,000 families nationwide have received benefits totalling RM1.01 million from the National Farmers Organisation (Nafas) Prihatin Peladang corporate...

  • Invest Selangor allocates RM11m for Selangor International Business Summit 2021

    1 day ago

    Invest Selangor allocates RM11m for Selangor International Business Summit 2021

    SHAH ALAM, Oct 17 — Invest Selangor Bhd, the investment arm of the Selangor State Government, has allocated RM11 million for the whole development and management of the Selangor...

  • Plantation Industries Ministry asks rubber smallholders in Kedah to improve production quality, income

    1 day ago

    Plantation Industries Ministry asks rubber smallholders in Kedah to improve production quality, income

    KUALA LUMPUR, Oct 17 — The Ministry of Plantation Industries and Commodities has asked rubber smallholders in Kedah to improve the quality their produce and income by getting...

  • Touch ‘n Go launches DuitNow transfer function for easier eWallet experience

    1 day ago

    Touch ‘n Go launches DuitNow transfer function for easier eWallet experience

    KUALA LUMPUR, Oct 17 — Touch ‘n Go eWallet launched the DuitNow Transfer function today, allowing its users to move their funds from any internet banking account directly to...

  • Ringgit poised for technical correction against US dollar next week

    2 days ago

    Ringgit poised for technical correction against US dollar next week

    KUALA LUMPUR, Oct 16 — The ringgit is expected to experience some technical correction in the coming days, trading in the range of RM4.15 to RM4.16 against the US dollar during...

  • Bursa Malaysia’s outlook for next week remains bullish

    2 days ago

    Bursa Malaysia’s outlook for next week remains bullish

    KUALA LUMPUR, Oct 16 — Bursa Malaysia’s outlook for next week remains bullish, anchored mainly by foreign funds, according to analysts. The recent 12th Malaysia Plan (12MP)...

  • El Salvador sees greener crypto-currency mining in its future

    2 days ago

    El Salvador sees greener crypto-currency mining in its future

    SAN SALVADOR, Oct 15 — El Salvador’s unfolding experiment as a first-adopter of the crytocurrency bitcoin could be increasingly powered by new streams of renewable energy, the...

  • Argentina touts economic ‘roadmap’, investors remain wary

    2 days ago

    Argentina touts economic ‘roadmap’, investors remain wary

    NEW YORK, Oct 16 — Argentine senior officials met with private investors in New York yesterday, touting a much sought-after economic “roadmap” for the embattled country and...

  • Bitcoin tops US$60,000, a six-month high, on US ETF expectations

    3 days ago

    Bitcoin tops US$60,000, a six-month high, on US ETF expectations

    LONDON, Oct 16 — Bitcoin topped US$60,000 (RM249,480) for the first time in six months yesterday, nearing its all-time high, as hopes grew that US regulators would allow a...

  • Wall Street ends up with Goldman; Dow posts biggest weekly rise since June

    3 days ago

    Wall Street ends up with Goldman; Dow posts biggest weekly rise since June

    NEW YORK, Oct 16 — US stocks rose yesterday and the Dow scored its biggest weekly percentage gain since June, as Goldman Sachs rounded out a week of strong quarterly earnings...

  • World stocks notch best day in five months; oil, govt bond yields up

    3 days ago

    World stocks notch best day in five months; oil, govt bond yields up

    NEW YORK, Oct 16 — Stocks surged globally yesterday in their best day in five months as strong US corporate earnings reports fuelled optimism about the economy, though...

  • Square CEO Dorsey says looking to build a bitcoin mining system, according to tweet

    3 days ago

    Square CEO Dorsey says looking to build a bitcoin mining system, according to tweet

    NEW YORK, Oct 16 — Square Inc Chief Executive Officer Jack Dorsey said yesterday the fintech firm is looking to build a bitcoin mining system based on custom silicon and open...

  • Produce latex for better income, Risda tells smallholders

    3 days ago

    Produce latex for better income, Risda tells smallholders

    BALING, Oct 15 — The Rubber Industry Smallholders Development Authority (Risda) is encouraging smallholders to harvest latex as opposed to cup lumps to boost their income. Risda...

  • US stocks extend gains as retail sales jump

    3 days ago

    US stocks extend gains as retail sales jump

    NEW YORK, Oct 15 — Wall Street stocks rose early today following a positive report on American consumer spending, extending a rally as markets shrug off inflation worries. US...

  • Bitcoin tops US$60,000 as US mulls crypto fund

    3 days ago

    Bitcoin tops US$60,000 as US mulls crypto fund

    LONDON, Oct 15 — Bitcoin breached the US$60,000 mark for the first time since April on growing hopes that US regulators will greenlight the first futures exchange-traded fund...

  • Italy’s ITA takes to skies from ashes of Alitalia

    3 days ago

    Italy’s ITA takes to skies from ashes of Alitalia

    MILAN, Oct 15 — Italy’s new national carrier ITA Airways took its debut flight Friday, closing a turbulent chapter that witnessed the decline of the country’s storied but...

  • UK ‘encouraged’ by EU’s Brexit proposals, but wants more

    3 days ago

    UK ‘encouraged’ by EU’s Brexit proposals, but wants more

    BRUSSELS, Oct 15 — Britain’s Brexit minister David Frost today said the UK was “encouraged” by EU proposals to fix problems in the trading arrangements in Northern Island,...

  • Ringgit retreats to end easier against US dollar

    3 days ago

    Ringgit retreats to end easier against US dollar

    KUALA LUMPUR, Oct 15 — The ringgit retreated on profit-taking to end easier against the US dollar today after six consecutive days of gains, dealers said. At 6pm, the local note...

  • Gains in almost all sectors boost Bursa Malaysia to end higher

    3 days ago

    Gains in almost all sectors boost Bursa Malaysia to end higher

    KUALA LUMPUR, Oct 15 — Steady gains almost across the board particularly in the banking sector boosted Bursa Malaysia to end higher on the last trading day of the week. The...

  • 3 days ago

    12MP to promote catalytic growth for Malaysian aerospace industry, says Miti

    KUALA LUMPUR, Oct 15 — The 12th Malaysia Plan (12MP) is set to propel the growth of the local aerospace industry as it has been identified as one of the high impact strategic...

  • 3 days ago

    Bank Pembangunan launches impact assessment framework based on global goals

    KUALA LUMPUR, Oct 15 — Bank Pembangunan Malaysia Bhd (BPMB) has launched an impact assessment framework called Measuring Impact on National Development (MIND), which is largely...

  • Germany cuts electricity levy as energy prices surge

    3 days ago

    Germany cuts electricity levy as energy prices surge

    FRANKFURT, Oct 15 —The German government will drastically lower a levy on electricity consumption from 2022 to help ease the burden on consumers as Europe battles soaring energy...

  • Stats Dept: Malaysia’s ICT industry valued at RM320b in 2020, contributed 22.6pc to GDP

    3 days ago

    Stats Dept: Malaysia’s ICT industry valued at RM320b in 2020, contributed 22.6pc to GDP

    KUALA LUMPUR, Oct 15 — The Information and Communications Technology (ICT) industry registered a 10.4 per cent growth in 2020, valued at RM320 billion, compared with...

  • Bursa opens higher on bargain hunting

    3 days ago

    Bursa opens higher on bargain hunting

    KUALA LUMPUR, Oct 15 — Bursa Malaysia recovered to open higher on Friday as investors sought out bargains in mainly energy and technology stocks. The market also received a...