Category: Business

KUALA LUMPUR: The ringgit is expected to trade between 4.25 and 4.26 against the US dollar next week, following weaker-than-expected United States (US) Nonfarm Payrolls (NFP) data for July, which may prompt the US Federal Reserve (Fed) to consider an interest rate cut at its September meeting. The NFP data for July fell short of… Continue reading Ringgit to trade at 4.25-4.26 vs greenback on Fed rate cut optimism

KUALA LUMPUR: The American Malaysian Chamber of Commerce (Amcham Malaysia) has welcomed the new tariff framework as a positive move toward strengthening economic ties between the US and Malaysia. The updated rates are expected to enhance job creation, investment opportunities, and supply chain resilience for both nations. Datuk Siobhan Das, CEO of Amcham Malaysia, stated… Continue reading New US-Malaysia tariff framework boosts trade and investment

LONDON/SYDNEY: Global shares tumbled on Friday after the U.S. slapped dozens of trading partners with steep tariffs, while investors anxiously awaited U.S. jobs data that could make or break the case for a Fed rate cut next month. The Stoxx 600 fell around 1% in the first hour of trading. It was 1.7% lower on… Continue reading Global shares drop after Trump tariff shock hits markets

APPLE shares rose 2% in premarket trading on Friday, after the iPhone maker’s quarterly results topped Wall Street expectations, indicating resilience in the face of global trade tensions and intensifying artificial intelligence rivalry. Driven by a sharp rebound in its flagship phone sales, Apple posted its fastest revenue growth since 2021 and forecast “mid to… Continue reading Apple shares rise after beating forecasts despite tariffs

KUALA LUMPUR: The reduction of US tariffs on Malaysian imports to 19% provides critical relief for small and medium enterprises (SMEs) grappling with rising costs, particularly in manufacturing, furniture, textiles, and food exports. While the cut falls short of expectations, it marks a strategic win for trade competitiveness, according to the Small and Medium Enterprises… Continue reading Malaysia SMEs gain competitive edge with reduced US tariffs, says Samenta

LONDON: The dollar headed for its strongest weekly performance in almost three years against other major currencies, maintaining momentum on Friday after U.S. President Donald Trump imposed new tariff rates on dozens of trade partners. Some of the currencies of the countries that were hit the hardest, such as Switzerland, which now faces a 39%… Continue reading Dollar surges as Trump tariffs impact global currencies

KUALA LUMPUR: Malaysia has reaffirmed its commitment to purchase an additional 30 Boeing aircraft worth US$9.5 billion, marking the second phase of a major procurement deal with the United States. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz confirmed the move as part of reciprocal trade negotiations between the two nations.… Continue reading Malaysia to buy 30 more Boeing jets worth US$9.5 billion

TAIPEI: Taiwan President Lai Ching-te said on Friday that the new 20% tariff rate set by the Trump administration on goods imported from the island is “temporary”, and the government expects to negotiate a lower figure. Lai also noted that rates for semiconductors, electronics as well as information and communication technology will be subject to… Continue reading Taiwan: 20% US tariff is temporary, chip rates under review

SINGAPORE: Shares of European drugmakers slipped on Friday after U.S. President Donald Trump sent letters to major pharmaceutical firms to cut drug prices in the United States, months after signing a sweeping executive order aimed at lowering prices. The letters were the latest setback for a sector still grappling with the prospect of tariffs outlined… Continue reading European drugmakers drop as Trump pushes for US price cuts

KUALA LUMPUR: The lowering of US import tariffs on Malaysian goods from 25 per cent to 19 per cent is set to revitalise Malaysia’s export-driven manufacturers, according to Kenanga Investment Bank Bhd (Kenanga IB). The bank highlighted that the tariff reduction will strengthen business confidence and improve global competitiveness. Kenanga IB stated, “As external conditions… Continue reading Malaysia exporters rebound as US cuts tariffs to 19%

KUALA LUMPUR: Sapura Energy Bhd has officially rebranded as Vantris Energy Bhd, effective August 1, 2025. The change follows regulatory approval from the Companies Commission of Malaysia under Section 28 of the Companies Act 2016. The company stated in a Bursa Malaysia filing that the rebranding aligns with its proposed regularisation plan (PRP), which received… Continue reading Sapura Energy rebrands as Vantris Energy effective Aug 1

KUALA LUMPUR: RHB Investment Bank Bhd has highlighted potential upside risks to Malaysia’s 2025 GDP growth, citing the combined impact of reduced US tariffs and recent fiscal support measures. The bank maintains its baseline GDP forecast at 4.2% but now sees a tilt toward 4.5% growth. In a market strategy note, RHB stated that Malaysia’s… Continue reading RHB sees upside risks to Malaysia’s 2025 GDP growth amid US tariff cut

SEOUL: Round-up of South Korean financial markets: ** South Korean shares fell nearly 4% on Friday to post their biggest daily decline since early April, as U.S. tariffs and domestic tax hikes dented investor sentiment. ** The benchmark KOSPI closed down 126.03 points, or 3.88%, at 3,119.41, marking its biggest daily percentage fall since April… Continue reading South Korean shares plunge 4% on US tariffs, tax hike fears

OIL prices were little changed on Friday after falling more than 1% in the previous session as traders digested the impact of higher U.S. tariffs that may curtail economic activity and lower global fuel demand growth. Brent crude futures were down 7 cents, or 0.1%, to $71.63 a barrel at 0656 GMT. U.S. West Texas… Continue reading Oil steady as tariff worries offset Russian supply fears

LONDON: Thirty-year euro zone government bond yields rose on Friday, swept higher in a sell-off in global longer-dated debt, as investors grow increasingly convinced that interest rates are unlikely to fall much further. U.S. President Donald Trump’s tariffs, while lower than initially threatened for most countries, are widely expected to keep inflation in the euro… Continue reading Euro zone bonds sell off as Trump tariffs impact inflation outlook

SINGAPORE: U.S. President Donald Trump’s Friday tariff deadline brought little reprieve for markets, with tech stocks in South Korea and Taiwan hit hard as investors fretted over the cost of disrupting global supply chains and the outcome of talks with China. For traders inured to Trump’s repeated threats, his follow-through on blanket tariffs for dozens… Continue reading Markets rattle as tariffs hit tech stocks in Asia

GOLD prices ticked higher on Friday, supported by uncertainty stemming from a slew of U.S. tariffs slapped on trading partners, although a stronger dollar kept bullion on track for a weekly loss. Spot gold was up 0.2% at $3,299.08 per ounce, as of 0553 GMT. Bullion is down 1.2% so far this week. U.S. gold… Continue reading Gold edges up but heads for weekly loss on strong dollar

HANOI: Domestic coffee prices in Vietnam rose slightly on Friday on supply concerns, as global prices recovered from last week’s 16-month low. Farmers in the Central Highlands, Vietnam’s largest coffee-growing region, sold beans at 99,500-99,700 dong ($3.80-$3.81) per kg, up from last week’s 95,700-96,200 dong. Traders say concerns about a possible dry weather spell in… Continue reading Vietnam coffee prices rise slightly on supply concerns

KUALA LUMPUR: The ringgit opened flat against the US dollar but rose against other major currencies, with investors still weighing the outcome of the Federal Open Market Committee (FOMC) meeting and Washington’s reciprocal tariff measures, which take effect today. At 8 am, the local note stood at 4.2650/2850 against the US dollar, almost unchanged from… Continue reading Ringgit opens flat against US dollar, higher versus other majors

NEW YORK: Microsoft’s market valuation surged past $4 trillion early Thursday as investor enthusiasm for artificial intelligence propelled its shares higher following robust earnings. The tech giant reported $27.2 billion in quarterly profits, with its stock jumping 5.3 percent. Microsoft is now the second company to cross the $4 trillion mark, trailing AI leader Nvidia.… Continue reading Microsoft hits $4 trillion valuation as AI drives stock surge

KUALA LUMPUR: Malaysia’s official reserve assets reached US$120.61 billion as of end-June 2025, according to Bank Negara Malaysia (BNM). Other foreign currency assets stood at US$1.21 billion, reinforcing the country’s financial stability. The central bank highlighted that the detailed breakdown of international reserves follows the International Monetary Fund’s (IMF) Special Data Dissemination Standard (SDDS) format.… Continue reading Malaysia’s foreign reserves hit US$120.61 billion in June 2025

KUALA LUMPUR: Bank Negara Malaysia (BNM) has imposed an administrative monetary penalty (AMP) totalling RM3.445 million on Bank Islam Malaysia Bhd (BIMB) for non-compliance with the Islamic Financial Services Act 2013 (IFSA) and the relevant policy documents. The relevant policy documents include Risk Management in Technology Policy Document (RMiT PD) and Anti-Money Laundering Countering Financing… Continue reading BNM imposes penalties on BIMB, Bank Rakyat and BSN for non-compliance

KUALA LUMPUR: Malaysia’s domestic coffee market has reached a valuation of US$1.05 billion, supported by over 6,400 cafes operating across the country. Deputy Plantation and Commodities Minister Datuk Chan Foong Hin highlighted the sector’s growth while addressing external pressures affecting global supply chains. Speaking at the 24th Malaysian International Food and Beverage Trade Fair (MIFB… Continue reading Malaysia’s coffee market hits US$1.05 billion amid global supply challenges