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Money
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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,...
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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...
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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...
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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...
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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...
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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...
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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,...
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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,...
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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...
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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...
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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...
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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,...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...