Category: Business

KUALA LUMPUR: The ringgit extended its uptrend against the US dollar on Wednesday, supported by a 0.43 per cent drop in the US Dollar Index (DXY) to 98.097 after the headline US inflation rate came in lower than expected. At 8 am, the local note rose to 4.2115/2285 against the greenback from Tuesday’s close of… Continue reading Ringgit rises as softer US inflation boosts rate cut expectations

KUALA LUMPUR: Malaysia is taking proactive steps to ensure that the promise of artificial intelligence (AI) translates into tangible, inclusive benefits for every citizen. Digital Minister Gobind Singh Deo said the ministry is leading the change in Malaysia, working to bridge the gap between advanced technology and everyday life – from urban centres to the… Continue reading Malaysia to ensure AI serves as tool for shared prosperity in country and Asean: Gobind

PETALING JAYA: AirAsia X Bhd (AAX) will return to Europe for the first time in over a decade with the launch of a direct service between Kuala Lumpur and Istanbul, Turkiye, starting Nov 14. The new route, operated four times weekly on an Airbus A330-300, will connect Kuala Lumpur International Airport to Istanbul Sabiha Gökçen… Continue reading Europe on radar as AirAsia X to start KL-Istanbul direct service on Nov 14

KUALA LUMPUR: Zetrix AI Bhd, formerly known as MY EG Services Bhd, is eyeing a global Muslim population of two billion with NurAI, the world’s first syariah-aligned large language model (LLM). Co-founder and head of AI development Datuk Fadzli Shah said the initial rollout will cover Malaysia, Indonesia and Brunei, a combined market of 340… Continue reading Zetrix AI to promote use of NurAI to global Muslim population

SHAH ALAM: Carlsberg Brewery Malaysia Bhd does not expect volume growth this year but will implement a single-digit price adjustment towards year-end. While the ringgit has strengthened and raw material costs have improved, the company remains optimistic about its outlook and confident of sustaining profit margins. Declining to elaborate on the price adjustment, managing director… Continue reading Carlsberg Malaysia confident of sustaining profit margins

KUALA LUMPUR: Robust demand for gold is expected to raise Public Gold Marketing Sdn Bhd’s customer base to 2.3 million by the end of the year from 2.2 million currently. Escalating global prices for the commodity have also encouraged the gold trading company to mull expanding into Indonesia, Thailand and Dubai in the United Arab… Continue reading Public Gold customer base set to hit 2.3 million by year-end on robust demand

KUALA LUMPUR: Natural rubber production in Malaysia rose by 5.9% to 25,679 tonnes in June 2025 compared to the previous month. The Statistics Department Malaysia (DOSM) reported the increase from May’s output of 24,256 tonnes. Year-on-year, however, production dropped by 14.1% from 29,881 tonnes in June 2024. Smallholders contributed 84.7% of total production, while estates… Continue reading Malaysia’s natural rubber production rises 5.9% in June 2025

KUALA LUMPUR: Bursa Malaysia opened higher today despite a weaker Wall Street overnight performance, ahead of the United States (US) inflation data later this week, as many expect this will dictate the Federal Reserve’s stance on possible rate cuts. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.45 points, or 0.41 per… Continue reading Bursa opens higher despite weaker Wall Street

NASHIK (India): India’s drive to produce more ethanol is leading its farmers to switch away from growing oilseeds, undermining government efforts in the world’s largest buyer of cooking oils to reduce costly imports. Helped by record corn and rice harvests, New Delhi is using more of the grains to make ethanol and meet its target… Continue reading India’s ethanol push threatens edible oil self-sufficiency goals

U.S. soybean prices soared to a two-week high on Monday after President Donald Trump urged China to quadruple its purchases ahead of a tariff truce deadline, though analysts questioned the feasibility of any such deal. China, the world’s biggest soybean importer, has not yet pre-purchased soybeans from the upcoming U.S. harvest amid trade tensions with… Continue reading US soybean prices surge as Trump pushes China to boost orders

KUALA LUMPUR: The ringgit extended its uptrend against the US dollar and major currencies at the opening on Tuesday ahead of Malaysia’s second quarter 2025 gross domestic product (GDP) data to be released on Friday, said an analyst. He said traders are now eyeing Malaysia’s GDP print for monetary policy clues, but with markets heavily… Continue reading Ringgit up against US dollar, major currencies ahead 2Q GDP announcement

WALL STREET’S main indexes were down on Monday as investors await inflation data this week and chip companies seesawed after agreeing to share a portion of revenue from China sales with the U.S. under a trade policy shift from the Trump administration. Nvidia was flat after reversing premarket losses, and Advanced Micro Devices was up… Continue reading Wall Street stocks dip as chip sector reacts to China revenue-sharing deal

U.S. President Donald Trump on Monday said he would not impose tariffs on gold, a move welcomed by global bullion markets and which ended days of speculation that the yellow metal could be caught up in the ongoing global trade spat. “Gold will not be Tariffed!” Trump said in a statement posted on his social… Continue reading Trump exempts gold from tariffs, easing bullion market fears

KUALA LUMPUR: Property developer WCT Land Sdn Bhd is urging the government to include green incentives, extended Home Ownership Campaign benefits, corporate tax relief for developers and reduction in Real Property Gains Tax in Budget 2026 to support buyers and developers. Chief operating officer (property development) Chong Wah Hing said the wishlist, shared as part… Continue reading WCT Land eyes green incentives, measures to help buyers and developers in Budget 2026

KUALA LUMPUR: Malaysia’s timber exports continue to show resilience, achieving a total value of RM9.03 billion from January to May this year despite headwinds such as the United States’ imposition of tariffs, a slowdown in the global economy and other external challenges. Plantation and Commodities Deputy Minister Datuk Chan Foong Hin said the main export… Continue reading Malaysian timber exports resilient in face of global headwinds

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) expects the low oil price environment to persist, with prices hovering at around US$64 to US$65 (RM270.90) to RM275.10) per barrel, said executive vice-president and chief executive officer (CEO) of upstream business Mohd Jukris Abdul Wahab. He said the national oil company is reviewing its operational and cost efficiencies… Continue reading Petronas reviewing operational and cost efficiencies amid low-price environment

PETALING JAYA: DagangHalal.com, the world’s largest halal business-to-business e-marketplace, will support Japanese halal-certified companies through an initiative with the Japan External Trade Organisation (Jetro) in Kuala Lumpur to boost the presence of Japanese halal-certified products in Southeast Asia, particularly in Malaysia. DagangHalal will host the Japan Pavilion on its dedicated platform, enabling Japanese halal-certified manufacturers… Continue reading DagangHalal to help Japanese halal businesses widen reach in international markets

PETALING JAYA: Composites Technology Research Malaysia Sdn Bhd (CTRM), a wholly owned subsidiary of DRB-HICOM Bhd, has signed a conditional share purchase agreement with Spirit AeroSystems Inc and Spirit AeroSystems International Holdings Inc to acquire Spirit AeroSystems Malaysia Sdn Bhd for US$95.2 million (RM403.6 million). The transaction is subject to approvals and conditions being fulfilled.… Continue reading CTRM to acquire Spirit AeroSystems Malaysia for US$95.2 million

WASHINGTON: US semiconductor leaders Nvidia and Advanced Micro Devices have reportedly agreed to pay the United States government 15% of their revenue from artificial intelligence chip sales to China. The Financial Times, Bloomberg, and New York Times reported that Nvidia CEO Jensen Huang met with US President Donald Trump to finalise the unusual revenue-sharing arrangement.… Continue reading Nvidia and AMD to pay US 15% of AI chip sales to China

KUALA LUMPUR: A global study by Moneythor shows that while many customers join digital banking platforms, only 35% are truly active users. The study found that 15% of newly acquired customers stop using these services within the first three months. Moneythor CEO Martin Frick said this silent dropout represents a missed opportunity for banks to… Continue reading Only 35% of digital banking users truly active: Moneythor

FROM July 1, 2025, all construction services are subject to a 6% tax, except those provided solely for residential projects, which certainly increases the prices of commercial projects. In theory, the consumer ultimately bears the tax. In practice, this is not always possible, particularly for ongoing contracts where prices were agreed before the tax came… Continue reading Tax Matters – SST challenges faced by construction industry

KUALA LUMPUR: The ringgit opened stronger against the US dollar on Monday, recovering from two straight sessions of decline. Market analysts attributed the rebound to lingering concerns over US trade policies and their global economic impact. At 8 am, the local currency rose to 4.2365/2515 against the greenback from Friday’s close of 4.2420/2480. An analyst… Continue reading Ringgit strengthens against US dollar amid trade tensions

KUALA LUMPUR: Topmix Bhd expects demand for its decorative surface products to remain resilient on the back of steady renovation activity in the residential and commercial segments, said CEO Teo Quek Siang. On the commercial front, with retail and hospitality spaces seeing more customers and positive momentum, the company expects increased renovation projects, driving demand… Continue reading Topmix expects resilient demand for its decorative surface products on steady renovation activity

KUALA LUMPUR: Malaysian youth are showing growing interest in securing their financial future through investing. However, despite this rising curiosity, many first-time and younger investors continue to face significant barriers to entering the capital market. For CGS International Securities Malaysia Sdn Bhd, tackling these challenges goes beyond providing access – it is about driving long-term… Continue reading Bridging the gap – Empowering Malaysia’s youth to invest with confidence

PETALING JAYA: Against a global backdrop driven by uncertainties and intensifying competition, Budget 2026 will remain focused on delivering Malaysia’s longer term economic reform agenda, while addressing short term challenges to maintain the momentum of growth and safeguard the resilience of the economy. At the same time, efforts will be undertaken to enhance the well-being… Continue reading Budget 2026 to focus on longer term reform agenda

PETALING JAYA: Suling Hill Development Sdn Bhd, a joint venture between industrial space solutions provider AME Elite Consortium Bhd and property developer Majestic Gen Sdn Bhd, reached a new milestone in the development of its RM1.3 billion freehold Northern TechValley @ BKE Industrial Park, commencing construction of a flyover bridge that enhances the park’s connectivity… Continue reading Suling Hill Development starts building Northern TechValley @ BKE flyover bridge

PETALING JAYA: TM One, the enterprise and public sector business solutions arm of Telekom Malaysia Bhd (TM), has formalised a five-year strategic collaboration with Agrobank to accelerate the digital transformation of Malaysia’s agriculture and agro-based MSME sectors. The partnership underscores a shared commitment to modernise the nation’s agro financial ecosystem through secure, resilient and forward-looking… Continue reading TM One, Agrobank forge five-year tie-up to accelerate digital transformation in agriculture sector

PETALING JAYA: TA Securities Holdings Bhd has launched TA SmarTrade, a next-generation trading platform designed to simplify and democratise access to global stock markets for Malaysian investors. With integrated access to the US and Hong Kong markets – and Singapore to follow soon – TA SmarTrade offers a powerful, mobile-first solution that helps investors trade… Continue reading TA Securities launches mobile trading solution for Malaysian investors to access global markets

PETALING JAYA: Proton New Energy Technology Sdn Bhd (Pro-Net), a subsidiary of national carmaker Proton, has launched the nationwide MISI 5 Tour featuring previews of the second car in the Proton e.MAS line-up. The Proton e.MAS 5 – Malaysia’s most anticipated entry-level electric vehicle (EV) – is set to traverse five major regions of Malaysia… Continue reading MISI 5 Tour brings soon-to-be-launched e.MAS 5 across Malaysia

SHAH ALAM: The quality of Selangor’s affordable housing projects has improved, driven by healthy competition among developers, said Menteri Besar Datuk Seri Amirudin Shari. Speaking to reporters at the key handover ceremony for the Idaman Bukit Jelutong condominium today, he said that in the past, common issues included poor housing conditions, substandard walls and windows.… Continue reading Selangor affordable housing projects are of quality, says MB

KUALA LUMPUR: MBSB Investment Bank Bhd (MBSB IB) projects Malaysia’s retail sales to grow by 4.6 per cent in 2025, driven by a resilient labour market, low and stable inflation, minimum wage adjustments, recovering tourism and the recent monetary policy easing. In a research note, it said these factors are expected to boost household disposable… Continue reading Malaysia’s retail sales to grow by 4.6% in 2025 – MBSB IB

BATU KAWAN: Malaysia’s long-term success in the global semiconductor sector hinges on how effectively the country connects its knowledge base to real industry needs, according to Higher Education Minister Datuk Seri Dr Zambry Abd Kadir. He said this is how the country can build real capacity and strengthen its global position, in anticipation of 10,000… Continue reading Malaysian semiconductor sector’s long-term success depends on closing education-industry link: Zambry

LONDON: US President Donald Trump’s media group and Tesla, the electric carmaker owned by tech billionaire Elon Musk, are among an increasing number of companies buying huge amounts of bitcoin. The aim? To diversify reserves, counter inflation and attract investors, analysts say. Who also invests Companies frequently own bitcoin – the largest cryptocurrency by market… Continue reading Is rush into bitcoin too risky for companies?

NEW DELHI: India wants countries to agree a new code of conduct on hiring each other’s airline staff after raising concerns that its fast-growing aviation system is being stifled by the poaching of Indian pilots and cabin crew without adequate notice. India, one of the world’s fastest-growing aviation markets, is wrestling with a shortage of… Continue reading India presses for global ‘code of conduct’ on pilot poaching

BENGALURU: Cooling food price rises likely reduced India retail inflation to an eight-year low of 1.76% in July, below the low end of the Reserve Bank of India’s 2% to 6% tolerance band for the first time in over six years, a Reuters poll of economists showed. Despite uneven monsoons, a strong spring harvest has… Continue reading India inflation likely dropped to eight-year low in July: Poll

WASHINGTON: From punishing Brazil to trying to curb imports of fentanyl, US President Donald Trump has wielded the threat of tariffs as an all-purpose foreign policy weapon. With a Friday deadline for Russia to agree to peace in Ukraine or have its oil customers face secondary tariffs, Trump has found a novel, but risky, use… Continue reading Trump tariffs on buyers of Russian oil raise global risks

PETALING JAYA: The Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment, has been appointed by Coronade Properties Sdn Bhd to manage the hotel component of the Coronation Square integrated development in Johor Bahru. The development is located in the Ibrahim International Business District (IIBD) within the Johor-Singapore Special Economic Zone (JS-SEZ) and… Continue reading Ascott to manage five-star hotel in Johor Bahru’s Coronation Square