Category: Business

ELON Musk’s xAI has laid off at least 500 workers from its data annotation team, which helps develop the company’s Grok chatbot, Business Insider reported on Friday. The company notified employees by email on Friday night that it was planning to downsize its team of generalist AI tutors, the report said, citing multiple messages viewed… Continue reading Musk’s xAI lays off hundreds of data annotators, Business Insider reports

BEIJING: Malaysia, a hotspot for data centres, is reining in the pace of expansion in a move industry insiders and analysts expect will hinder China’s efforts to gain access to powerful chips that are crucial to improving its artificial intelligence capabilities. The Southeast Asian country has drawn in data centre investments from U.S. technology giants… Continue reading Malaysia reins in data centre growth, complicating China’s AI chip access

KUALA LUMPUR: The ringgit opened higher against the US dollar on Friday as the greenback retreated following weaker United States jobs data that raised expectations for interest rate cuts. At 8 am, the local unit stood at 4.2065/2225 per dollar, firmer than Thursday’s close of 4.2185/2240. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam… Continue reading Ringgit opens higher against US dollar on weak US jobs data

PARIS: Global oil supply reached a record high in August as OPEC+ and other producing nations significantly increased their production output. The International Energy Agency reported that this increased production has created a looming market surplus that continues to keep oil prices in check. Eight key OPEC+ members, including Saudi Arabia and Russia, have been… Continue reading Global oil supply hits record high in August as OPEC+ increases production

PASIR MAS: Seorang mudir atau guru besar sekolah pondok didakwa di Mahkamah Sesyen di sini hari ini atas tujuh pertuduhan melakukan amang seksual terhadap seorang pelajar lelaki serta memiliki gambar lucah. Muhammad Aswadi Yah, 46, mengaku tidak bersalah dan mohon dibicarakan ketika semua pertuduhan dibacakan di hadapan Hakim Zulkpli Abdullah. Mengikut pertuduhan pertama hingga keenam… Continue reading Guru besar didakwa lakukan amang seksual terhadap pelajar lelaki

CHINA e-commerce leader Alibaba on Thursday said it plans to raise about $3.2 billion through the sale of a zero-coupon convertible bond to fund international expansion and to strengthen its cloud computing business. Alibaba, among China’s most aggressive adopters of artificial intelligence, said it would use nearly 80% of the proceeds to expand data centres,… Continue reading Alibaba to raise $3.2 billion via convertible bond to fund cloud growth

KUALA LUMPUR: The ringgit opened firmer against the US dollar and most major currencies on Thursday, tracking expectations of United States (US) interest rate cuts after softer economic data. At 8 am, the local unit stood at 4.2085/2300 against the greenback, up from Wednesday’s close of 4.2185/2220. Bank Muamalat Malaysia Bhd, chief economist Dr Mohd… Continue reading Ringgit opens firmer on US rate cut hopes after soft economic data

KUALA LUMPUR: Malaysia’s economic growth demonstrated remarkable resilience during the second quarter of 2025 despite ongoing geopolitical tensions and global trade uncertainties. The country’s gross domestic product growth reached 4.4%, outperforming several ASEAN counterparts including Singapore at 4.3% and Thailand at 2.8%. This performance was primarily supported by sustained domestic demand across various economic sectors.… Continue reading Malaysia’s economy remains resilient with 4.4% GDP growth in Q2 2025

KUALA LUMPUR: The reduced Overnight Policy Rate supports home ownership affordability through lower debt servicing costs according to the Ministry of Finance. Existing homeowners with floating-rate loans will generally enjoy reduced monthly instalment payments following the rate adjustment. This reduction provides additional financial space for homeowners to support other essential expenses alongside their mortgage commitments.… Continue reading Lower OPR reduces borrowing costs and supports home ownership in Malaysia

KUALA LUMPUR: Petronas LNG Ltd has entered into a significant 15-year liquefied natural gas supply agreement with Woodside Energy Trading Singapore Pte Ltd. The agreement commits to supplying one million tonnes per annum of LNG to Malaysia starting from 2028. This LNG will originate from Woodside’s diverse global portfolio, potentially including volumes from their recently… Continue reading Petronas signs 15-year LNG supply deal with Woodside Energy for Malaysia

KUALA LUMPUR: Malaysia has become the leading destination for French foreign direct investment within Asia and ranks tenth globally according to the French Ambassador. Ambassador Axel Cruau highlighted the strong bilateral relationship built on mutual respect and shared interests in innovation and sustainability during the France-Malaysia Business Forum. He emphasised that both nations possess the… Continue reading Malaysia tops French investment in Asia, ranks 10th globally

KUALA LUMPUR: The ringgit is projected to strengthen to 4.08 against the US dollar by the end of 2025, supported by Malaysia’s macroeconomic stability and ongoing reforms. Kenanga Investment Bank Bhd attributed this outlook to investor rotation away from US assets and Malaysia’s improving fundamentals. Foreign exchange deposits reached a record RM292.8 billion in July,… Continue reading Ringgit forecast to hit 4.08 against US dollar by end-2025

KUALA LUMPUR: Fitch Ratings has increased its global growth forecast for 2025 to 2.4% from 2.2%, citing stronger-than-expected second-quarter economic data. The agency simultaneously warned that clear evidence of a United States economic slowdown is now mounting across multiple indicators. Fitch noted that hard US economic data currently shows signs of weakening after previous strength.… Continue reading Fitch raises 2025 global growth forecast to 2.4% amid US slowdown signs

KUALA LUMPUR: Oil prices surged following Israel’s attack on Doha that targeted Hamas leadership in the Qatari capital. Brent crude rose 0.56% to US$66.39 per barrel while WTI crude gained 0.54% to US$62.97 at the time of reporting. Rystad Energy head of geopolitical analysis Jorge Leon stated that Israeli actions marked another escalation step in… Continue reading Oil prices surge after Israel strike in Doha hits Hamas leaders

KUALA LUMPUR: The ringgit opened higher against the US dollar on Wednesday, building on gains as weaker United States jobs data fuelled expectations of interest rate cuts. At 8 am, the local currency stood at 4.2005/2170 versus the greenback, up from Tuesday’s close of 4.2025/2080. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul… Continue reading Ringgit opens higher on US jobs revision and rate cut hopes