Category: Business

KUALA LUMPUR: GX Bank Bhd is strengthening its role in advancing financial inclusion, with around 60% of its customer base comprising underserved segments, including individuals from the bottom 40% (B40) income bracket and 10% from the gig economy. CEO Kaushik Chowdhury said the figure reflects the bank’s core focus on underserved communities, a number that… Continue reading GX Bank strengthens role in underserved segment, eyes productive economic financing next

KUALA LUMPUR: Bursa Malaysia Bhd will implement the full adoption of electronic Central Depository System (CDS) account statements and notices (eStatements) for individual depositors effective Aug 25. The exchange said in a statement today that the transition aims to enhance investor experience by providing faster and more secure access to CDS account-related information, while also… Continue reading Bursa Malaysia CDS account statements, notices to go fully electronic from Aug 25

GOLD futures climbed to a record high on Friday after a report that the United States had imposed tariffs on imports of 1-kg gold bars, while spot gold stayed on track for a second straight weekly gain on tariff turmoil and U.S. interest rate-cut hopes. Spot gold held steady at $3,397.85 per ounce, as of… Continue reading Gold futures surge to record high amid US tariff reports

WASHINGTON/LONDON: From punishing Brazil to trying to curb imports of fentanyl, U.S. 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’s Russia oil tariffs risk global economic and political fallout

U.S. President Donald Trump’s 50% tariffs on Indian imports – far steeper than those imposed on other Asia-Pacific countries – would severely curtail India’s ambitions to develop its manufacturing sector, Moody’s Ratings said on Friday. U.S. President Donald Trump on Wednesday imposed an additional 25% tariff on Indian goods, taking the total to 50%, citing… Continue reading Trump’s 50% tariffs threaten India’s manufacturing growth, warns Moody’s

PINTEREST missed analysts’ estimates for second-quarter profit on Thursday, overshadowing robust revenue and user growth, and sending its shares down over 11% in extended trading. The social media platform reported adjusted profit per share of 33 cents, below analysts’ average estimate of 35 cents, according to data compiled by LSEG. However, its quarterly revenue grew… Continue reading Pinterest Q2 profit miss overshadows Gen Z and AI growth

BINANCE is working with Spanish bank BBVA to allow customers to hold their assets off the crypto exchange, Financial Times reported on Friday. The Spanish bank is working as one of only a small number of independent custodians for the world’s biggest crypto exchange, the report added, citing two people familiar with the matter. Reuters… Continue reading Binance partners with BBVA for off-exchange crypto asset storage

KUALA LUMPUR: The ringgit opened firmer against the US dollar on Friday, extending gains, after United States (US) economic data reinforced expectations of an imminent interest rate cut at the Federal Reserve’s next policy meeting, an economist said. At 8 am, the local note rose to 4.2205/2405 against the greenback from Thursday’s close of 4.2340/2385.… Continue reading Ringgit rises vs greenback on stronger odds of US rate cut

WASHINGTON: U.S. President Donald Trump on Thursday said he will nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final few months of a newly vacant seat at the Federal Reserve while the White House seeks a permanent addition to the central bank’s governing board and continues its search for a new… Continue reading Trump nominates Stephen Miran to Fed board seat

Prasheem said MCIS Life is continuously building a stronger, more inclusive, and digitally agile business—one that puts people and purpose at the heart of everything. KUALA LUMPUR: MCIS Insurance Bhd (MCIS Life) has reaffirmed its long-term commitment to sustainable growth, inclusive protection, and operational excellence, following a transformative year that tested the resilience of Malaysia’s… Continue reading MCIS Life reaffirms commitment to growth after transformative year

KUALA LUMPUR: As Malaysia’s digital economy accelerates—projected to contribute 25.5% to national GDP by end-2025, according to the Ministry of Digital—the need to strengthen the nation’s cybersecurity talent pool has become increasingly urgent. In response, the Malaysia Internet Exchange (MyIX) is expanding its corporate social responsibility (CSR) initiatives to better equip local professionals with the… Continue reading MyIX strengthens CSR with network security workshop to boost Malaysia’s cyber defenses

KUALA LUMPUR: Malaysia needs the private sector, financial institutions and investors to move boldly in funding climate-related efforts, said Raja Muda Selangor Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj. Tengku Amir said institutions such as Khazanah Nasional Bhd, Employees Provident Fund and Permodalan Nasional Bhd need to step up as governments cannot do… Continue reading Be bold in funding climate-related efforts: Raja Muda Selangor

KUALA LUMPUR: Malaysia’s local banks and financial institutions must be ready to mobilise trillions of ringgit in climate financing, said Khazanah Research Institute deputy director of research Yin Shao Loong.Yin highlighted that until 2023, Malaysia did not have a clear costed policy for its energy transition making it difficult to justify raising funds.“Because, why go… Continue reading Be ready to mobilise trillions of ringgit in climate financing: KRI deputy director of research

KUALA LUMPUR: Ant International has obtained approval from Bank Negara Malaysia to carry out business under a Class A Money Services Business licence. The licence will empower Ant International’s WorldFirst—an all-in-one digital cross-border payment and treasury account service for global businesses—to operate in Malaysia, adding to its 60+ global licences worldwide. The licence will enable… Continue reading Ant’s WorldFirst secures Bank Negara approval for business licence

KUALA LUMPUR: Bursa Malaysia Bhd in collaboration with CGS International Securities Malaysia Sdn Bhd (CGS MY) held the annual Invest Shariah Conference yesterday, highlighting the rising prominence of syariah-compliant investments as a form of value-driven investing, in response to shifting global economic dynamics. In its fifth year, the 2025 theme “Innovating Islamic Finance: Unlocking Global… Continue reading Malaysian Islamic finance receives global attention

KUALA LUMPUR: Companies must brace for a rapidly evolving global economic order where multilateralism is under threat and protectionism is on the rise, warned Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Speaking at a fireside chat during the Asean Business Community Development Forum 2025 (ABCD Forum 2025), Tengku Zafrul urged businesses,… Continue reading Tengku Zafrul tells businesses to brace for rapidly evolving global economic order

KUALA LUMPUR: Malaysian banks have stepped up their climate financing efforts in recent years, AmBank Group chief sustainability officer Amanah Aboobucker said, adding that the industry is now better equipped to classify, assess and support sustainable projects. “A turning point was in April 2021, when Bank Negara Malaysia introduced the Climate Change and Principle-based Taxonomy… Continue reading Malaysian banks have stepped up their climate financing efforts in recent years: AmBank Group

KUALA LUMPUR: Malaysia’s push for a low‑carbon future gained new momentum yesterday as senior government and financial leaders pledged deeper collaboration to accelerate energy transition. This pledge came about when Deputy Prime Minister and Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof reaffirmed the government’s commitment to build a resilient, affordable and inclusive… Continue reading Senior govt, financial leaders pledge deeper collaboration to accelerate Malaysia’s energy transition

KUALA LUMPUR: Malaysia is expanding its investment in research and development (R&D) as part of its push to become a high-technology nation by 2030, said Deputy Science, Technology and Innovation Minister Datuk Mohammad Yusof Apdal. He highlighted that Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase,… Continue reading Malaysia steps up investment in R&D in quest to become high-tech nation by 2030

PETALING JAYA: The government will introduce a New Investment Incentive Framework (NIIF) in the third quarter of 2025 to promote high-value investments and activities. Deputy Investment, Trade and Industry Minister Liew Chin Tong said the NIIF is a major strategic step in response to the United States’ decision to impose a 19% countervailing tariff on… Continue reading Govt to introduce New Investment Incentive Framework in third quarter to woo high-value investors

KUALA LUMPUR: Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across Asean, adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape. Reflecting this regional shift, CIMB Bank Bhd and CIMB Malaysia CEO Gurdip Singh Sidhu said the bank is scaling its Asean presence through both… Continue reading Banks, fintech players step up cross-border expansion and collaboration in Asean

PETALING JAYA: Malaysia Digital Economy Corporation (MDEC), in partnership with the Malaysian Research Accelerator for Technology & Innovation (Mranti), concluded its latest Digital Exports (DEX) Connex Thailand 2025 initiative with the signing of 10 MoUs between Malaysian tech companies and Thai partners. These partnerships are expected to generate over RM200 million in potential digital export… Continue reading Malaysian, Thai tech companies forge partnerships

KUALA LUMPUR: Kenanga Investment Bank Bhd, Saison Capital Pte Ltd, Helicap Labs Pte Ltd (Helix), and Satori Research Ltd yesterday announced the release of a white paper that offers insights into the asset tokenisation industry’s potential and its significance in driving financial transformation in Malaysia. Titled Project Juara: Malaysia’s Asset Tokenisation Opportunity (Project Juara) and… Continue reading Huge potential for asset tokenisation in Malaysia

PETALING JAYA: DKSH Business Unit Performance Materials, a distributor of specialty chemicals and ingredients, has opened its newly upgraded innovation centre in Malaysia, for the food and beverage as well as personal care industries. Located in Petaling Jaya, the renovated innovation centre houses specialised laboratories and deliver tailored solutions for sweet and savory food, as… Continue reading DKSH Business Unit Performance Materials opens upgrade innovation centre

KUALA LUMPUR: Tanco Land Sdn Bhd (TLSB) and Menteri Besar Negeri Sembilan (Pemerbadanan) (MBINS) have further refined their joint venture (JV) relationship to facilitate the proposed Port Dickson Free Zone (PDFZ) development. Under the new agreement, MBINS will acquire the first 300 acres for RM88.5 million for the JV, supported by advances from Tanco, a… Continue reading Tanco, MBINS refine partnership to accelerate Port Dickson Free Zone development

KUALA LUMPUR: Bursa Malaysia opened slightly lower on Wednesday, tracking Wall Street’s decline as sentiment turned cautious following weak US economic data and tariff announcements by President Donald Trump on the semiconductor and pharmaceutical sectors. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.16 points, or 0.08 per cent, to 1,537.48 from… Continue reading Bursa Malaysia opens lower amid US tariff concerns, weak Wall Street

KUALA LUMPUR: The ringgit opened higher against the US dollar on Wednesday, supported by weaker United States (US) economic data that weighed on the greenback and prompted investors to reassess market sentiment, an economist said. At 8 am, the local note climbed to 4.2180/2315 against the greenback from Tuesday’s close of 4.2260/2310. Bank Muamalat Malaysia… Continue reading Ringgit gains on weak US data, Fed rate cut expectations

PETALING JAYA: Malaysia’s plan to boost semiconductor exports to RM1 trillion by 2030, a centrepiece of the 13th Malaysia Plan (13MP), has been hailed as ambitious yet achievable by industry leaders, though economists warn that structural reforms will be key to ensuring the benefits translate into broader economic gains. Prime Minister Datuk Seri Anwar Ibrahim,… Continue reading 13MP – RM1 trillion semiconductor exports by 2030 target ‘ambitious yet achievable’

KUALA LUMPUR: Malaysia is strengthening its position as a premier destination for high-quality, high-value investments in Southeast Asia under the 13 Malaysia Plan (13MP or RMK13), said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said Malaysia is channelling its focus to sectors that will shape the future such as artificial intelligence (AI), semiconductors… Continue reading Malaysia strengthening position as high-quality, high-value investment destination

KUALA LUMPUR: Bank Negara Malaysia (BNM) is developing regulatory groundwork for three emerging technologies – artificial intelligence, open finance and asset tokenisation – to ensure innovation in the financial sector is responsible, inclusive and trusted. Governor Datuk Seri Abdul Rasheed Ghaffour said digital assets are increasingly shaping financial services, offering efficiency and new delivery models.… Continue reading BNM laying regulatory groundwork to ensure responsible, inclusive and trusted innovation in financial sector

LONDON: Global dealmaking has reached US$2.6 trillion (RM11 trillion), the highest for the first seven months of the year since the 2021 pandemic-era peak, as a quest for growth in corporate boardrooms and the impact of a surge in AI activity has overcome the uncertainty caused by US tariffs. The number of transactions to Aug… Continue reading Global M&As surpass US$2.6 trillion year to date

SINGAPORE: Asia-US sea freight rates are set to drop further in 2025 as shipping capacity outpaces demand and trade routes shift due to tariffs and geopolitical tensions, though vessel rerouting is expected to limit some losses, industry experts said. Average spot rates for containers from Asia to the US west and east coasts have slumped… Continue reading Asia-US shipping rates to fall further amid tariff turmoil

KUALA LUMPUR: Malaysia is setting its sights on becoming a halal pharmaceutical and healthcare hub for Asean, leveraging partnerships with India’s booming pharma sector as industry leaders prepare for the Second Malaysia Pharma and Healthcare Expo (MPHC 2025) in October. The expo, to be held at the World Trade Centre Kuala Lumpur from Oct 7… Continue reading Malaysia sets sights on becoming Asean pharmaceutical and healthcare hub

KUALA LUMPUR: Gen Alpha (the digital-first generation born 2010 onwards) isn’t waiting to grow up before engaging with money – they’re already making their mark on the world of digital finance. In Malaysia, new research from Mastercard shows that 97% of Gen Alpha children already have access to a financial account, while many hold digital… Continue reading Gen Alpha redefines M’sian financial literacy landscape

KUALA LUMPUR: Financial service providers in Malaysia are increasingly adopting artificial intelligence (AI), according to the central bank’s AI Survey 2024. The survey found that in 2024, 71% of banking institutions and development financial institutions, and 77% of insurance and takaful operators had implemented at least one AI application. “Notably, in 2024, 71% of banking… Continue reading Financial service providers increasingly adopting AI: Bank Negara survey

PETALING JAYA: Clean energy solutions provider Gentari Sdn Bhd and Amazon Web Services (AWS) have signed a power purchase agreement (PPA) for an 80MW wind power project in Tamil Nadu, India. Following a collaboration agreement signed in 2023 with AWS, the PPA marks a concrete step towards the shared ambition of delivering new, cost-effective, utility-scale… Continue reading Gentari, Amazon Web Services sign power purchase deal for India wind energy project