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BREAKING NEWS: Undisclosed Transactions & Conflicts: The YNH Property Berhad Scandal

The YNH Property Berhad scandal reveals a tangled web of undisclosed transactions, potential conflicts of interest, and financial manipulation involving the notorious Yu Syndicate. As layers of deceit continue to unfold, the saga underscores the critical importance of corporate transparency and ethical conduct.

YNH Property Bhd Scandal: A Family Affair of Fraud, Embezzlement, and...

In this shocking exposé, we unravel the complex web of deceit surrounding the YU Syndicate and YNH Property Bhd, where key players allegedly embezzled millions through fraudulent joint ventures and secret agreements. Discover the dark side of corporate Malaysia and the implications of this massive scandal.

PETRONAS and Phoenix Petroleum Sign MoU for Downstream Marketing and Tech...

KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) and Phoenix Petroleum have agreed and signed a memorandum of understanding (MoU). To develop a collaboration in downstream...

Bursa Malaysia inks collaboration with UMW, Maybank to roll out centralised...

Bursa Malaysia Bhd, UMW Corp Sdn Bhd, and Malayan Banking Bhd (Maybank) have agreed to work together. Under a memorandum of understanding to develop...

ECB hawks press case for more rate hikes to fight inflation

Two prominent hawks on the European Central Bank’s (ECB) policymaking Governing Council predict that the bank will likely need to hike interest rates further....

Germany, Japan seek economic cooperation

During their first-ever high-ministerial government meetings, held in the midst of concerns over global supply chains and the economic repercussions of the war in...

Malaysia exports rise 9.8% to RM204.99bil in Feb

KUALA LUMPUR: From the same month the year before, Malaysia’s exports increased by 11% to RM204.99 billion in February 2023. With both export and...

Malaysian banks rating intact despite US bank failures – RAM Ratings

The bankruptcy of the Silicon Valley Bank (SVB) and two other smaller banks last week has little bearing on the ratings of Malaysian institutions,...

Silicon Valley Bank (SVB) Financial seeks bankruptcy protection as banking turmoil...

Days after its former subsidiary Silicon Valley Bank (SVB) was taken over by US regulators. SVB Financial Group announced on Friday that it had...

Silicon Valley Bank SVB run exposes rifts in venture capital world

SAN FRANCISCO: The failure of Silicon Valley Bank (SVB) has exposed differences within the typically close-knit venture capital (VC) industry. With some investors blaming...

Singapore bank stocks hit by Credit Suisse crisis

SINGAPORE: Local bank stocks fell when the market started yesterday morning. Due to concerns that the crisis enveloping Switzerland’s second-largest bank and a succession...

TM, ZTE Malaysia team up to build hybrid cloud 5G core...

KUALA LUMPUR: To create a hybrid cloud 5G core network, Telekom Malaysia Bhd (TM) and ZTE (M) Corp Sdn Bhd have partnered. TM and...

Maybank introduces financing solution for EV, hybrid users

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has unveiled a groundbreaking integrated auto finance solution that addresses all facets of owning an electric vehicle (EV)...

Three nations to be largest sovereign sukuk issuers

KUALA LUMPUR: According to Moody’s Investors Service, Malaysia, Indonesia, and Turkiye will overtake Saudi Arabia. As the leading sovereign issuers in 2023–2024. Which had...

Malaysia’s palm oil stocks slide 6.56% in Feb

KUALA LUMPUR: The Malaysian Palm Oil Board reported that the country’s overall palm oil stockpiles decreased by 6.56% to 2.11 million tonnes in February...

Malaysia Banks to be held up by resilient earnings

PETALING JAYA: As investors seek refuge in better yielding stocks amid recessionary fears, banks may notice an increase in interest. Despite the fact that financial...

Malaysia attracts RM264.6bil approved investments in 2022, 2nd largest ever recorded:...

KUALA LUMPUR: In 2022, Malaysia will have approved RM264.6 billion worth of investments. With the services sector taking the lion’s share of the market,...

Vietnam lures US$3.1 billion in FDI in first two months of...

In the first two months of 2023, Vietnam committed $3.1 billion in total foreign direct investment. This is a 38% decrease from the same...

MBSB Bank, Prec ink pact to drive cashless business transactions among...

PKNS Real Estate Sdn Bhd (Prec) and MBSB Bank Bhd (MBSB) have signed a memorandum of understanding (MoU) to work together. To promote cashless...

South Korea chip inventory climbs the fastest in 27 years

In January, South Korea’s semiconductor inventory increased at its quickest rate in in 27 years. Highlighting a protracted tech recession that is holding back...

EV-related stocks advance after Tesla gets approval to import electric vehicles...

KUALA LUMPUR: Following the Ministry of International Trade and Industry’s (Miti) approval of Tesla’s application to import battery electric vehicles (BEVs) into Malaysia. The...

Crude oil prices stay muted in 1H amid altered oil flows...

Dated Brent prices are expected to remain relatively flat in the first half of 2023. On ample inventories despite persistent supply risks. With an...

Directors Caught plundering YNH Property assets worth RM 422 Million

YNH Property Bhd Directors caught plundering assets worth RM 422 Million in a scam transaction to sell the company's two primary income-producing assets undervalue to the YU Syndicate-controlled company, ALX Asset Berhad. Leaked documents reveal the alleged fraudulent scheme.

New Russian offensive underway in Ukraine, says NATO

KYIV: Days before the first anniversary of Moscow’s invasion heavy artillery bombardment was being directed at the eastern Ukrainian city of Bakhmut. As the...

New China-Laos-Thailand train builds efficiency for China and Asean trade

BEIJING: The China-Laos Railway’s extension, the round-trip China-Laos-Thailand train, was successfully launched. Trade between China and Asean members is anticipated to gain new momentum thanks...

Malaysia not going into recession, growth set to continue in 2023:...

Malaysia is unlikely to enter a recession this year. According to Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus, as strong domestic...

US forces returning to Philippines to counter China threats

More than 30 years after the closure of its sizable bases there, the US has been taking steps to rebuild its military power in...

Europe bans Russian diesel, other oil products over Ukraine

FRANKFURT Germany: In an effort to reduce its reliance on Moscow for energy and as retaliation for its invasion of Ukraine. Europe put a...

EU officials visit Kyiv as Russia strikes civilian target

KYIV, Ukraine: Leading representatives of the European Union arrived in Kyiv. For talks with Ukrainian authorities as rescue workers combed through the debris of...

YU Syndicate Axes ALX Directors YNH Property is caught Red-Handed

YU Syndicate's leaders replace exposed directors at ALX Assets after being caught in a scandal involving YNH Property Bhd & Rapid Synergy Bhd.

US accuses Russia of endangering nuclear arms control treaty

Washington, D.C. The Biden administration asserted on Tuesday that Russia’s refusal to permit the restart of on-the-ground inspections poses a threat. To the New...

International trade rises as commerce ministry lays out 2023 plans

Combodia: According to Pan Sorasak, minister of commerce, “in-depth reforms in all areas,” “improved export competitiveness. ” And an increasingly favorable business and investment...

China investment will boost green economy in Malaysia, says biz leader

IPOH: According to a prominent member of the business community. Increased Chinese investment will aid Malaysia in its transition to low-carbon development. According to Datuk...

Asian FX, stocks rise as strong U.S. GDP data aids risk...

The Philippine Peso and the Malaysian Ringgit led advances among Asian currencies on Friday. As overnight data revealed the U.S. economy’s resiliency, increasing investor...

Malaysia’s total trade up 8.6% to RM236bil in December 2022

Malaysia’s total trade for December 2022 amounted to RM236.0 billion. An increase of 8.6 per cent year-on-year (y-o-y). With exports rising 6.0 per cent...

IAEA sends staff to all Ukraine nuclear plants in safety bid

KYIV, Ukraine: In order to lessen the chance of catastrophic mishaps while Russia’s war on Ukraine continues. The International Atomic Energy Agency has dispatched...

Rapid Synergy Annual Report contains Material and Fraudulent Misrepresentation

Rapid Synergy Bhd's chairman, Yu Kuan Chon, deceived shareholders with fraudulent misrepresentation in the 2021 Annual Report. The company hid related parties to avoid a mandatory takeover offer.

Indonesia’s Asean presidency to focus on economic growth, says senior minister...

Jakarta Indonesia: According to a senior economic minister, Indonesia’s leadership of Asean in 2023 will primarily be focus on fostering sustainable growth in the...

Hong Kong’s Cathay Pacific flags up to US$893.77 million loss in...

HONG Kong:Despite predicting a loss of between HK$6.40 billion (US$817.18 million) and HK$7.00 billion for the fiscal year 2022, Cathay Pacific Airways Ltd. underlined...

CIA director visits Kyiv, meets with Ukraine’s Zelenskyy

Washington, D.C. According to a U.S. official, Volodymyr Zelenskyy and CIA Director William Burns met in Kyiv last week. This was the most recent...

NATO planes to be sent to Romania to eye Russian activity

Romania’s BUCHAREST: NATO announced that it would send three surveillance aircraft to Romania the next week. The purpose is to conduct reconnaissance flights and...

Rapid Synergy Deceives Malaysia Security Commission in a Botched Cover-Up

YU KUAN CHON, Director of Rapid Synergy Bhd, tricks Malaysia Security Commission in a botched cover-up of indirect shareholdings. CHAN WENG FUI, a connected party, has undisclosed substantial shares in the company.

EU faces big subsidy rift before facing US

Sweden’s KIRUNA: There are growing concerns that the continent’s heavyweights may benefit at the expense of the smaller member states. As the European Union...

Global food prices in 2022 hit record high amid drought, war

ROME: According to the U.N. Food and Agriculture Organization, global prices for food commodities such as grains and vegetable oils reached their highest levels...

US to send $3.75B in military aid to Ukraine, its neighbors

WASHINGTON: As Russia’s invasion of Ukraine continues, the United States will provide $3.75 billion in military supplies and other aid. To Ukraine and its...

Chile ratifies CPTPP, a big opportunity for Malaysian businesses: Tengku Zafrul

KUALA LUMPUR: According to Tengku Datuk Seri Zafrul Abdul Aziz, Minister of International Trade and Industry, Chile's decision to ratify the Comprehensive and Progressive...

Malaysia consumer sector expected to remain robust

PETALING JAYA: The consumer sector will continue to grow well, Due to strong domestic demand and supply chain enhancements. That will make restocking operations...

EU to mobilise RM47bil for Asean investments

PETALING JAYA: The European Union (EU) and its member states have announced a mobilization of €10 billion (US$10.59 billion or RM47.04 billion). As part...

EU approves new sanctions against Russia over Ukraine war

BRUSSELS: The European Union announced on Thursday that it had agreed on a fresh round of sanctions meant to increase the pressure on Russia...

IBM partners with new chipmaker Rapidus to make up lost ground

TOKYO: IBM Corp. claims that it is collaborating with Rapidus a recently established chipmaker sponsored by the Japanese government. To assist it to produce...

Bursa Malaysia announces 21 additions to F4GBM index constituents

KUALA LUMPUR: The FTSE4Good Bursa Malaysia (F4GBM) Index and the FTSE4Good Bursa Malaysia Shariah (F4GBMS) Index now has 98 constituents overall. After 21 fresh...

Global semiconductor equipment sales to hit record US$108.5bil this year

PETALING JAYA: The Semiconductor Equipment Manufacturers Industry, based in the US. Predicts that global sales of all semiconductor manufacturing equipment by original equipment manufacturers...

US banks warn of recession amid rising inflation

According to CEOs, the largest US banks are preparing for a poorer economy next year as inflation threatens consumer demand. Jamie Dimon, the chief executive...

EU eyes Russian officials, banks, industry for sanctions.

BRUSSELS: As part of a fresh wave of sanctions meant to increase pressure on Moscow over its involvement in the crisis in Ukraine. The...

Asia stocks edge up despite global growth worries.

Hong Kong and China stocks helped up Asian shares despite mounting concerns about an impending economic slowdown and the speed at which the Federal...

Malaysian economy relatively resilient in 2023, says ICAEW

PETALING JAYA: The Institute of Chartered Accountants in England and Wales forecasts a bleak start for Asian economies in 2023. But it won’t last...

Retail loan growth likely to remain strong

PETALING JAYA: Despite waning sectoral tailwinds, banking stocks are still regarded as “safe” investments. In the face of potential economic difficulties. “The banking industry can...

Oil prices climb after Opec+ keeps output cut targets, China eases...

As a result of OPEC+ countries maintaining their output objectives in advance of a European Union ban. The start of a price restriction on...

Sarawak targets revenue of RM11bil by 2023

Sarawak aims to earn more than RM 11 billion in income the following year, which would be a record. Approximately 48%, or RM5.25 billion,...

Taiwan fears impact of US chip restrictionso

TAIPEI: According to a Taiwanese economic official recent US efforts to lessen reliance on Taiwan’s cutting-edge technology may have an effect on Taiwan’s chip...

RHB Bank on course to meet KPI targets

Despite the difficult operating environment, RHB Bank Bhd is on pace to achieve the majority of its key performance indicator (KPI) targets for the...

KLCI falls as investors take profit, ringgit at 4.4760

On Friday, the Ringgit increased its advances and reached a three-month high. At 5 pm, the local currency was trading at 4.4760, up 0.43%...

Bank Negara issues exposure draft on licensing and regulatory framework for...

Following the release of the discussion paper earlier this year. Bank Negara Malaysia (BNM) today released the exposure draft on the licensing and regulatory...

Budget 2023 will be among the focus for the 15th Malaysian...

KUALA LUMPUR: Before Budget 2023, the first topic to be debate in the Parliament session will be important. The parliment debate under Prime Minister Datuk...

Boustead Plantations expects continued volatility in palm oil prices

KUALA LUMPUR: Boustead Plantations Bhd stated that due to high stock levels in Malaysia and Indonesia, palm oil prices are projected to be highly...

Malaysian banks’ loan growth to stay at 5-6% in 2023 on...

S&P Global Ratings anticipates that the Malaysian banking sector will continue to expand loans at a rate of 5% to 6% in 2023 as...

Asia-Pacific leaders condemn war, renew calls for open trade

Bangkok, Thailand, Saturday, Nov. 19, 2022: Leaders from the Asia-Pacific region demanded an end to Russia's conflict with Ukraine and committed to guiding the...

WTO warns of ‘real’ recession risk in some major economies

Indonesia's NUSA DUA: The crisis in Ukraine, rising food and gasoline prices, and surging inflation have all contributed to a cloudy view of the...

Brunei gets top ranking for business regulation from top international economic...

BANDAR SERI BEGAWAN: Brunei has performed very well in regulation and secured second ranking globally. According to the Canadian conservative think tank, Fraser Institute’s...

Ambank Aids SMEs Via Strategic Partnership With PUMM

AmBank has entered into a two-year strategic partnership with Persatuan Usahawan Maju Malaysian (PUMM). Which will pave the way for AmBank to work with...

Telenor and Axiata win key approval for multi-billion dollar Malaysia tie-up

OSLO: Malaysian telecoms firm Axiata Group and Norway's Telenor ASA have been given clearance from the Securities Commission Malaysia for the proposed merger of...

Malaysia unlikely to go into recession due to economic diversification

KUALA LUMPUR: Malaysia is not likely to slip into a recession due to the diversified structure of its economy. Which is less dependent on...

Hong Kong once again ranked as world’s freest economy

HONG KONG: The Hong Kong Special Administrative Region government on Thursday welcomed the Fraser Institute’s recognition of the territory as the world’s freest economy. In...

Franchise sales to increase to RM23bil by 2025

PETALING JAYA: Malaysia’s franchise industry is expected to see its sales value increase to RM22.66bil by 2025 from RM14.65bil in 2020, says Prime Minister...

Bank Negara raises OPR by 25bps to 2.5%, as expected

KUALA LUMPUR: Bank Negara Malaysia (BNM)’s Monetary Policy Committee (MPC) raised its overnight policy rate (OPR) by 25 basis points (bps) to 2.5% on...

Bursa Malaysia snaps losing streak, ringgit weakens to 4.5028

KUALA LUMPUR: Bursa Malaysia finished higher on Wednesday in the absence of market-moving factors. While the ringgit weakened to a 24-year low against the...

Better Internet connectivity for Sarawak with a new submarine cable to...

KUCHING: Sarawak can look forward to better Internet connectivity following the launch of a new submarine cable to Singapore via Batam and a Tier...

Oil prices ease on symbolic OPEC+ output cut

SINGAPORE: OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy. Underlining their unhappiness as recession...

SK Hynix to invest US$11bil in new South Korea chip plant

SEOUL: SK Hynix Inc, the world's second-largest memory chip maker, said it will invest 15 trillion won ($10.9 billion) over the next five years...

Malaysia end-August palm oil stocks hit 2 million tonnes for first...

KUALA LUMPUR: Malaysia's palm oil inventories in end-August likely swelled above 2 million tonnes for the first time in more than two years lifted...

Maybank to facilitate the trading of shariah-compliant securities on Bursa under...

KUALA LUMPUR: Under the Islamic Securities Selling and Buying — Negotiated Transaction (ISSBNT) framework Bursa Malaysia has added Maybank Investment Bank Bhd(Maybank IB) as...

Indonesia hikes fuel prices by 30%, cuts energy subsidies

JAKARTA, Indonesia: Fuel prices increased by about 30% across Indonesia on Saturday. After the government reduced some of the costly subsidies that have kept...

EcoWorld in end-financing tie-up with Public Bank

PETALING JAYA: Eco World Development Group Bhd (EcoWorld) has inked a memorandum of understanding (MoU) with Public Bank Bhd to offer a special end-financing...

Asian stock markets mixed ahead of latest US jobs reading

Asian stock markets were mixed ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging...

Standard Chartered Malaysia Launches SmartStocks

KUALA LUMPUR: Standard Chartered Malaysia has launched SmartStocks, a one-stop online share trading platform. Bringing clients the convenience of trading on 12 exchanges across...

Malaysia attracts RM123.3 billion worth of approved investments for Jan-June 2022...

KUALA LUMPUR: Malaysia has attracted RM123.3 billion (US$28.0 billion) worth of approved investments in the manufacturing, services, and primary sectors involving 1,714 projects from...

Arizona Gov. Ducey hails Taiwan semiconductor investment

TAIPEI, Taiwan: Arizona Gov. Doug Ducey on Thursday hailed economic and educational cooperation with Taiwan. Marked by a $12 billion investment in his state...

IMF set to provide $2.9 billion to help crisis-hit Sri Lanka

COLOMBO, Sri Lanka: The International Monetary Fund has reached a preliminary agreement to provide Sri Lanka with $2.9 billion, over four years to help...

Biden waiving the ethanol rule in a bid to lower gasoline...

MENLO, Iowa USA: With inflation at a 40-year high, President Joe Biden journeyed to corn-rich Iowa on Tuesday. To announce a modest step aimed...

Biden, Modi to speak as US presses for a hard line...

WILMINGTON USA: President Joe Biden is set to speak with Indian Prime Minister Narendra Modi as he presses world leaders to take a hard...

S&P downgrade indicates Russia headed for historic default

BOSTON USA: The credit rating agency Standard & Poor’s has downgraded its assessment of Russia’s ability to repay foreign debt. Signaling rising prospects that...

SpaceX launches 3 visitors to the space station for $55M each

CAPE CANAVERAL, Florida USA: SpaceX launched three rich businessmen and their astronaut escorts to the International Space Station on Friday. For more than a...

Food prices soar to record levels on Ukraine war disruptions

ROME ITALY: Prices for food commodities like grains and vegetable oils reached their highest levels. Everlast month largely because of Russia’s war in Ukraine...

Europe agrees to ban Russian coal but struggles with oil, gas

The European Union nations have agreed to ban Russian coal the first sanctions on the vital energy industry over the war in Ukraine. But...

Congress votes to suspend Russia’s trade status, enact an oil ban

WASHINGTON USA: Congress voted overwhelmingly to suspend normal trade relations with Russia and ban the importation of its oil. Ratcheting up the U.S. response...

Germany seeks to boost renewable energy and cut Russian imports.

BERLIN Germany: The German government unveiled a major package of reforms. To boost the production of renewable power, and meet its climate goals. And...

UN to vote on suspending Russia from the rights council.

UNITED NATIONS: The U.N. General Assembly will vote on whether to suspend Russia from the U.N.’s premier human rights body. The move was initiated...

The US hits Russia with ‘war crimes’ sanctions, Europe following.

WASHINGTON USA: The U.S. rolled out a new wave of financial sanctions on Wednesday against Russia. That President Joe Biden said would place a...

Asia’s US$350bil gas projects intensify the clean energy debate.

SINGAPORE: Asia is pumping billions of dollars into new gas infrastructure. Making the region pivotal in a debate over the role of fossil fuels...

Guyana OKs Exxon’s $10B Yellowtail offshore oil project.

GEORGETOWN, Guyana: Guyana’s government has granted permission for U.S. supermajor ExxonMobil to develop a fourth offshore oil and gas field. The company said it...

The US to seek Russia’s suspension from Human Rights Council.

BUCHAREST, Romania: The United States plans to seek a suspension of Russia from its seat on the U.N.’s top human rights body. Pointing to...

WHO says 99% of the world’s population breathes poor-quality air.

GENEVA Switzerland: The U.N. health agency says nearly everybody in the world breathes air that doesn’t meet its standards for air quality. Calling for...

Lithuania cuts off Russian gas imports and urges the EU to...

VILNIUS, Lithuania: Lithuania says it has cut itself off entirely from gas imports from Russia. Apparently becoming the first of the European Union’s 27...

Russian space chief: Sanctions could imperil space station.

MOSCOW: The head of Russia’s space program said that the future of the International Space Station hangs in the balance. After the United States,...

European inflation soars to a record 7.5% on fuel, food costs.

LONDON: Inflation in Europe soared to another record, according to new EU figures released in a fresh sign. That rising energy prices fueled by...

Greenhouse gas emissions rose in Rhode Island.

While Rhode Island is trying to reduce greenhouse gas emissions and set an example for other states environmental officials said Friday that emissions were...

Poland to end Russian oil imports; Germany warns on gas.

WARSAW, Poland: Poland announced steps to end all Russian oil imports by year’s end. While Germany issued a warning about natural gas levels and...

US seeks tighter UN sanctions after N. Korea missile test

SEOUL, South Korea: The United States called for tougher U.N. sanctions after North Korea said it test-fired its biggest intercontinental ballistic missile to date....

Ukraine war drives the US, EU deal to undercut Russian energy

BRUSSELS: With stunning speed, Russia’s war in Ukraine is driving Western Europe into the outstretched arms of the United States again. Especially apparent when...

The US, EU sign data transfer deal to ease privacy concerns

BRUSSELS: The European Union and the United States made a breakthrough in their years-long battle over the privacy of data. That flows across the...

Biden pledges new Ukraine aid warns Russia on chemical weapons.

BRUSSELS Belgium: President Joe Biden and Western allies pledged new sanctions and humanitarian aid. In response to Vladimir Putin’s assault on Ukraine. But their...

The U.S. reinstates 352 product exclusions from China tariffs.

WASHINGTON USA: The U.S. Trade Representative's office said on Wednesday it has reinstated 352 expired product exclusions from U.S. "Section 301" tariffs on Chinese...

The U.S. imposes fresh sanctions on Russia over the Ukraine invasion.

BRUSSELS/WASHINGTON: The United States on Thursday imposed fresh sanctions on Russia. Targeting dozens of Russian defense companies. Hundreds of members of its parliament, and...

Singapore core inflation cools while acceleration risks loom

SINGAPORE: Core inflation in Singapore cooled slightly last month. But is expected to pick up further in the near term, setting the stage for...

Russian stock market, crushed by war, will partially reopen

NEW YORK USA: Russia plans to reopen its stock market for limited trading. Nearly one month after shares plunged and the exchange was shut...

Putin wants ‘unfriendly countries’ to pay rubles for gas.

MOSCOW Russia: President Vladimir Putin announced that Russia will demand that “unfriendly? countries pay for Russian natural gas exports only in rubles from now...

UK inflation hits a 30-year high of 6.2% as Sunak readies...

LONDON UK: British inflation shot up faster than expected last month to hit a new 30-year high. Worsening a historic squeeze on household finances...

Ukraine war imperils wheat, but farmers are in no rush to...

DUBAI, United Arab Emirates: Worldwide, farmers like are weighing whether to change their planting patterns and grow more wheat this spring. As the war...

UN chief: Don’t let Russia crisis fuel climate destruction.

BERLIN Germany: Countries scrambling to replace Russian oil, gas, and coal supplies with any available alternative. May fuel the world’s “mutually assured destruction” through...

EU slams ‘war crimes’ in Ukraine but new sanctions unlikely

BRUSSELS Belgium: European Union countries accused the Russian armed forces of committing war crimes in Ukraine. But appeared unlikely to impose new sanctions on...

New rules for companies on climate risks proposed by SEC.

WASHINGTON USA: Companies would be required to disclose the greenhouse gas emissions they produce. And how climate risk affects their business under new rules...

Zelenskyy evokes Holocaust as he appeals to Israel for aid.

JERUSALEM Israel: Ukraine’s president called on Israel to take a stronger stand against Russia. Delivering an emotional appeal that compared Russia’s invasion of his...

Boris Johnson: Russian win would bring ‘age of intimidation’

LONDON UK: British Prime Minister Boris Johnson said that Russia’s invasion of Ukraine was a “turning point for the world.” Arguing that a victory...

High energy costs trigger unrest in parts of Europe.

MADRID Spain: High energy costs are stoking unrest in parts of Europe, with Spain deploying more than 23,000 police officers in cars and helicopters....

UK regulator revokes license of Russia-backed broadcaster RT.

LONDON UK: Britain’s communications regulator revoked the license of the state-funded Russian broadcaster RT amid concern that its coverage of the war in Ukraine...

Biden’s China ‘pivot’ complicated by Russia’s war in Ukraine.

WASHINGTON USA: President Joe Biden set out to finally complete the “pivot to Asia.” A long-sought adjustment of U.S. foreign policy to better reflect...

Intel unveils $88B chipmaking expansion plan for Europe.

LONDON UK: U.S. chipmaker Intel unveiled plans on Tuesday to invest up to 80 billion euros ($88 billion) across Europe. As part of an...

Russia’s invasion drives NATO rethink of Europe force stance.

Brussels, Belgium: In an underground archive below NATO’s headquarters lies a key document. That sets out the vision of both NATO and Russia about...

Council of Europe expels Russia from human rights body.

STRASBOURG, France: The Council of Europe on Wednesday expelled Russia from the continent’s foremost human rights body in an unprecedented move over Moscow’s invasion...

Asian shares rise ahead of Fed decision on rate hike.

TOKYO Japan: Asian shares rose as investors awaited a widely anticipated decision by the U.S. Federal Reserve on interest rate policy. Japan’s benchmark Nikkei 225...

White House: Biden will travel to Europe for Ukraine talks.

WASHINGTON USA: — President Joe Biden will travel to Europe next week for face-to-face talks with European leaders about the Russian invasion of Ukraine,...

EU and UK hit Russia with wider sanctions that target luxury

BRUSSELS Belgium: EU and UK hit Russia with more sanctions this time victim is Pure-bred horses, truffles, a soccer club owner, and a media...

Asia stocks extend losses as Ukraine war, China’s Covid-19 surge hit...

SYDNEY: Asian stocks were in the red on Tuesday as surging COVID-19 cases in China hit the confidence of investors. Who is already worried...

World Bank official says war-driven oil price hikes to slash growth...

WASHINGTON: Persistent high oil prices prompted by Russia's invasion of Ukraine could cut a full percentage point off the growth of large oil-importing developing...

Biden bans Russian oil, warns of higher prices at US pumps.

WASHINGTON:  President Joe Biden announced that the U.S. will ban all Russian oil imports. Toughening the toll on Russia’s economy in retaliation for its...

Reliance, Google to delay India smartphone launch

Reliance Industries which is an Indian conglomerate delayed the launch of a low-cost smartphone. Which they were developing with Google in November. They cited...

U.S. Senate Democrats float stock buyback tax.

To pay the $3.5 trillion bill, Biden and congressional Democrats have been pushed to raise taxes on wealthy and corporations. But those who represent...

Toyota, Honda oppose U.S. House electric vehicle tax plan

Toyota Motor Corp and Honda Motor Co criticized a proposal by Democrats in the US House Representatives. The proposal was to give an additional...

The first direct contact between Biden and the Chinese president.

The US president spoke to the Chinese president for the first time since taking office. Washington / Beijing: US President Joe Biden has spoken over...

GLOBAL MARKETS-Worries over economic recovery shake world stocks, US$ pares gains

As the dollar pared gains on Wednesday, Wall street sank and European stocks suffered their worst one-day rout in three weeks over the pace...

Global Sukuk issuance to stop growing for the first time in...

Moody’s said on Tuesday that higher crude prices have reduced the financing needs of oil-rich Gulf governments. Due to this, Global Sukuk issuance will...

Economic reform needs unorthodox ideas

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Azizi said that the economic reform agenda has to look different and should consider the unorthodox...

Malaysia to increase efforts to address semiconductor backlog orders.

KUALA LUMPUR: Malaysia is trying its best to reduce the backlog of orders in the semiconductor industry over the past 12 months following the...

China offers 31 million in aid to the Afghanistan government.

BEIJING: China has offered a 31 million aid package to the Taliban government in Afghanistan. According to the News Agency, China has offered a humanitarian...

INVESTOR CONFIDENCE RETURNS TO BURSA

The start of the year 2021 proved to be significantly good for the stock market as investors were confident of a global economic recovery....

PROPOSAL TO INCREASE STATUTORY DEBT LIMIT TO 65%

PETALING JAYA: Tengku Datuk Seri Zafrul Abdul Aziz, the finance minister of Malaysia, is all set to propose a new limit to increase the...

The automotive sector in for sustainable recovery

PETALING JAYA: According to MIDF research, the government's economic relaxation measures includes the re-opening of plants and the operations. For distribution and retailing are...

U.S. OPENS PROBE INTO TESLA’S AUTOPILOT OVER EMERGENCY VEHICLE CRASHES

On Monday, a formal safety probe has been opened against Tesla's auto driver system by the U.S. auto safety regulators. A number of crashes...

Indonesia exits recession with 7% GDP growth in Q2, but virus...

JAKARTA: Indonesia showed great signs of improvement as it effectively pulled out of recession in the second quarter of the year. The country reported...

Taliban’s Afghanistan takeover presents fresh challenge for social media companies.

WASHINGTON: Social media company Facebook have informed on Monday that they declare the Taliban as a terrorist organization. And will be banning them along...

Japan approves chip development project with Taiwan’s TSMC

Japan has ceased a US $ 338 million deal for a semiconductor research project. To develop advanced technology in the country with Taiwan Semiconductor...

Bubble tea chain raises US$656m in Hong Kong IPO

Peng Xin and Zhao Lin founded the beverage chain in Shenzhen in 2014.  Chinese bubble tea chain appears to be preparing to become billionaires...

Telecom giants agree on mega telco merger to create a new...

The telecommunications giants will create synergies within the association, from cost savings to future financial flexibility. Axiata Group Bhd, Telenor Asia Pte Ltd and...

UEM Sunrise partners Maybank Islamic’s HouzKEY

KUALA LUMPUR: UEM Sunrise Bhd has collaborated with Maybank Islamic's HouzKEY. To help a greater amount of its clients including new property holders to...

KAB partners Janakuasa in Vietnam renewable energy venture

Kejuruteraan Asastera Bhd (KAB) , a Malaysian mechanical engineering company. Signed an agreement with Janakuasa Pte., Ltd. to enter the renewable energy market in...

Trump’s tariffs led to billions of losses, Fed research shows

At the beginning of last year, there was an extremely unlikely anomaly in global trade consciousness: China mentioned that it was promoting other goods...

Singapore’s GIC buying 16% stake of Sunway Healthcare for RM750m

Singapore sovereign wealth fund GIC Pte Ltd acquired a 16% stake in Sunway Healthcare Holdings Pte Ltd (SHH) for RM750 million. In a statement...

World Bank lowers Malaysia GDP growth due to pandemic.

Kuala Lumpur: Malaysia's GDP development has been brought down to 4.5% this year from the prior 6%. According to World Bank amid the emotional...

BNM’s international reserves rise to US$111bil as at June 15

After appointing Nor Zahidi Alias as an external member of the Monetary Policy Committee (MPC) of Bank Negara Malaysia. National Bank’s foreign exchange reserves...

Chipmaker GlobalFoundries plans US$6bil expansion in Singapore, US, Germany.

Despite the Biden government's call for the closure of domestic semiconductor manufacturing. GlobalFoundries Inc will build a US$4 billion (RM16.4 billion) chip factory in...

Singapore and Vietnam to work on pacts to boost digital economy

Singapore: Singapore and Vietnam have given their consents to speed up the formation process. For joint working gatherings to foster reciprocal arrangements on the...

Petronas and SEA eyeing digital banking licence

Kuala Lumpur: SEA ltd and Petroliam Nasional Bhd (Petronas) are one of the organizations intending to offer an advanced digital banking license in Malaysia....

Maybank IB clinches top awards at FinanceAsia Country Awards, Alpha SEA

Kuala Lumpur: The top honours of the investment banking categories at the recent FinanceAsia Country Awards 2021 were secured by Maybank Investment Bank (Maybank...

IJM Corp entered into a deal with KLK to dispose of...

IJM Corp Bhd has agreed to sell all 56.2% of the shares of the IJM Plantation subsidiary KLK Bhd for RM1.53 billion in cash...

Bank Negara, Bank of Thailand launch cross-border QR payment linkage

Kuala Lumpur: A cross-border QR payment linkage between Thailand and Malaysia was dispatched by the Bank Negara Malaysia and The Bank Of Thailand (BOT)...

Malaysia maintains CPO export tax at 8% for July

Kuala Lumpur: The export tax for Crude Palm Oil (CPO) has been kept up at eight per cent for July 2021 by Malaysia for...

HSBC: Malaysia, Singapore regional hubs for green financing

Kuala Lumpur: Malaysia and Singapore have escalated their more drawn-out term. Situating as regional hubs for green and maintainable finance. Making the giving of...

Pharmaniaga embarks on plan to supply Sinovac to state govt, private...

Kuala Lumpur: Pharmaniaga bhd announced. That they will be supplying the Sinovac covid-19 vaccine to the state governments and private sector. As a result,...

Luno Malaysia achieves RM4.2bil in crypto transactions

Petaling Jaya: Luno, a cryptocurrency exchange based in Malaysia, has accumulated approx US$1bil(RM4.2bil) in total transactions so far this year. In 2020, Luno Malaysia...

Pressure mounts on the labour market due to lockdown.

As the labour market is under pressure due to lockdown. The unemployment rate is expected to recover in the short term. Datuk Seri chief...

All payments for Govt services to be made on a cashless...

Once again Ministry of Finance, Malaysia is quite popular lately by the decision of Tengku Datuk Seri Zafrul Abdul Aziz - Finance Minister(MoF), he...

FDI rolling in despite lockdown

Although the government has imposed varying degrees of restrictions in the past year. The Covid-19 epidemic in Malaysia has deteriorated significantly. Last week, the...

Automakers seen to bear the brunt of chip storage.

The semiconductor chip shortage is putting the brakes on automakers. Due to chip shortage, automakers industries are not able to complete the needs of...

Serba Dinamik’s major shareholders express concern over audit issues.

Malaysian oil and gas service group are under investigation by Malaysia’s security group. This also rose concerns on the company’s development by 2 of...

Malaysia’s trade performance breaks record in April

KUALA LUMPUR: The Department of Statistics reported that owing to durable trade performance in April. The Southeast Asian nation Malaysia bested themselves by attaining...

Foxconn in talks to buy a stake in chipmaker DNeX

KUALA LUMPUR: Some people familiar with the situation reported. That after the Taiwanese Foxconn Technology Group’s loss to the Malaysian technology firm. Dagang Nexchange...

Malaysia’s Economic outlook improves but challenges remain

KUALA LUMPUR: Malaysia's economic outlook has improved. The Statistics department explains that the March indicators are to be encouraged in the future. But still,...

Amazon to include Pakistan Sellers on its seller’s list

Amazon is known as the king of e-commerce. It offers great potential for international trade through its online selling stores. Many countries (102) are...

Singapore economy grows 1.3% in Q1 but no change to GDP...

Singapore: The economy of Singapore has been observed to increase at a much faster pace during the first quarter of the year as estimated...

Malaysia’s Petronas signs the first Canadian-indexed LNG deal.

SINGAPORE, May 7, 2021: Malaysia's state-owned Petroleum Nassil Bhad said on Friday that it had used Canada's pricing indications as a basis for its...

Singapore’s exports continue to grow in April but at a slower...

SINGAPORE: Singapore's non-oil homegrown fares (NODX) rose at a more slow speed of 6% in April, down from the 11.9 percent development in March....

Axiata confident of delivering dividend target of 20 sen per share...

KUALA LUMPUR, May 17 - Telecommunication goliath, Axiata Group Bhd is sure that it will want to raise its profit payout to 20 sen...

The World Economy Is Suddenly Running Low on Everything

Corona has become the biggest conqueror that has taken over countries after countries and caused severe fluctuations in the economic levels even in economically...

Japan rolls out $1 trillion stimulus package to soften coronavirus impact

Japanese Prime Minister Shinzo Abe announced on Monday a nearly $1 trillion in stimulus to protect its economy from the damages caused by the ongoing...

Indonesia’s $24 Billion coronavirus package is not enough to protect workers,...

Economic experts in Indonesia warned that the government’s relief package worth US$24.2 billion (Rp 405 trillion) will not be sufficient to stop layoffs amid...

Vietnamese products see enormous demand in the US market

Goods with ‘Made in Vietnam’ tags have become more popular in the United States as the world’s largest economy reduce its dependence on China’s...

Australia pledges additional $80 billion coronavirus stimulus to rescue jobs

The Australian government announced that it plans to spend $79.85 billion (A$130 billion) to subsidize the salaries of more than 6 million workers who...

Google offers $340 million in Ads credits to help small businesses

As part of its coronavirus response package, Google is offering $340 million in Ads credits to small and medium-sized businesses that have active accounts...

Global authorities warn of fraud and scam amid coronavirus pandemic

International law enforcement agencies are encouraging the public to be more vigilant as scammers and fraudsters take advantage of the coronavirus pandemic to prey...

Global markets rise as US nears trillion-dollars’ worth stimulus package

After a sudden sink last month, world stock markets sharply soared Tuesday following the announcement of the United States that it is now working...

Malaysia maintains stock trading amid coronavirus lockdown

The Malaysian government and Bursa Malaysia have reiterated that they will not suspend the local stock exchange despite the implementation of lockdown in the...

Economists: Global market is already in recession due to coronavirus pandemic

American and European economic experts said that the recession in global economy is already here considering the deepening impacts of the coronavirus disease 2019...

Gas station owner charged for $500M fraud scheme

The owner of a California-based gas station face charges for allegedly stealing around $500 million government funds to expand a biodiesel fraud scheme with...

Filipinos struggle amid coronavirus quarantine

Effective March 16, the Philippines’ largest island, Luzon, has been placed under “enhanced community quarantine” as the government grapples to contain the fast spreading...

Malaysians brace for economic and social impacts of lockdown

In Malaysia, more than 32 million people will be confined to their homes beginning March 18 as the government’s nationwide lockdown takes effect following...

Global stock markets stumble as coronavirus pandemic spreads

Not long enough after the 2008 global financial crisis, the world was rocked anew as the stock markets in different countries have plummeted due...

Japan and South Korea to continue discussions over export controls

During their marathon session last week, the governments of Japan and South Korea have both agreed to continue their talks about their ongoing trade...

Australia wards off recession through $11 billion stimulus package

The Government of Australia has recently unveiled a stimulus package worth $11.4 billion (A$17.6 billion) designed to curb recession due to the economic impact...

European banks allow delays in mortgage payments to soften coronavirus impact

In efforts to ease the economic blow of the Coronavirus Disease 2019 (COVID-19) in Europe, banks in Italy and the United Kingdom have announced...

Founder of India’s Yes Bank faces money laundering charges

The founder of one of India’s biggest financial institutions—Yes Bank, was arrested on Sunday by the financial crime detectives over money laundering allegations....

Oil price plunges as Saudi Arabia retaliates with Russia

The prices of oil fell sharply on Monday following Saudi Arabia’s launch of price war against Russia which is reportedly unwilling to cut its...

Asian markets surge as central banks signal support

Share prices in Asia got an unexpected boost following the commitment of the Bank of Japan and the U.S. Federal Reserve to help protect markets from the damaging impact of the coronavirus. The Asian markets reversed early losses as investors put their hopes on a harmonized global monetary policy response. BOJ Governor Haruhiko Kuroda, in a rare […]

IMF, World bank express readiness to lend amid virus crisis

The International Monetary Fund (IMF) and the World Bank have already developed contingency plans to be able to provide funding to the global fight against the coronavirus (COVID-19). IMF spokesman Gerry Rice said that the institutions are willing to lend capital should any state government requests for assistance. “We have various financial instruments that could […]

Philippines stocks plunge deepest since 2016 due to coronavirus

The Philippines has recorded its deepest fall in shares as growing concerns over coronavirus hit Asian and global markets. Based on reports, the Philippine Stock Exchange Index plunged 4.3 % on Wednesday trading, tumbling the most since January 2016. The Bankers’ Association of the Philippines also said that the peso succumbed to the dollar, finishing […]

Philippines deports 9 Japanese fraud suspects

Nine Japanese nationals who are wanted for telecommunications fraud were deported Monday by the Bureau of Immigration (BI) of the Philippines. The suspects, according to the Business World, were identified as Irie Dai, Ishii Kyogo, Hamaoka Kantaro, Maeyama Takuto, Tanaka Kazuya, Yoshida Takeshi, Murata Seiichi, Kouki Shouji, and Imizumi Ryo. Media reports said that the […]

South Korea faces economic difficulty as virus cases climb

From only 31 cases on February 18, South Korea has confirmed a sudden increase in its coronavirus cases that reached 833 as of Monday afternoon. The government over the weekend declared that the virus alert has been raised to its highest level and intensified quarantine measures to contain the virus spread. Aside from human infection, South […]

Indonesian bank trims rates to head off coronavirus impact

The central bank of Indonesia has cut its interest rates by 25 basis points to 4.75% to prevent the impact of the COVID-19 outbreak that hammers the country’s travel, tourism and trade industries. Although Indonesia has not reported any confirmed case of the deadly virus, officials are worried about the fallout from the epidemic. The closure […]

Japanese couple who operated an educational institution sentenced to prison for...

Yasunori Kagoike, the former head of a Japanese institution named Moritomo Gakuen, and his wife, Junko, were found guilty of defrauding the central and local governments. The couple had been indicted for receiving public subsidies worth ¥56.4 million from the national government for the construction of an elementary school in Toyonaka, Osaka Prefecture between 2016 […]

Malaysian fugitive Jho Low spotted in virus-hit Wuhan

The fugitive Malaysian financier Low Taek Jho, commonly known as Jho Low, was recently spotted in the coronavirus-center Chinese city according to Malaysian authorities. “Previously, we did receive intelligence that he was active in Wuhan,” said Inspector-General of Police Abdul Hamid Bador. Low is wanted for his huge role in a massive graft scandal, siphoning […]

India emerged as 5th world’s largest economy with $2.94 trillion GDP

US-based World Population Review announced that India claimed the fifth position in the world’s largest economy rankings for 2019, surpassing the United Kingdom and...

Apple won’t hit revenue forecasts due to coronavirus

American multinational technology firm Apple said during the investor update that it will not meet its target earnings for March as its production and...

Thailand’s 5G auction raises over 100 billion baht

The National Broadcasting and Telecommunications Commission (NBTC) of Thailand has successfully concluded its 5G spectrum auctions on Sunday which raised a total of 100.52 billion baht...

China to destroy banknotes from coronavirus-hit areas

All paper currency from hospitals, markets, and buses in some regions of China that have been hard hit by the coronavirus, officially named Covid-19,...

Nissan sues former chairman and seeks $91 million damages

Japanese auto giant Nissan Motor Co. has sued its former chairman Carlos Ghosn as it seeks $91 million (for ¥10 billion) in damages. The civil...

Philippines’ credit rating gets upgrade due to “strong economy”

American credit watcher Fitch Ratings was impressed with the “very strong” macroeconomic story of the Philippines and gave it an upgraded outlook. The Philippines is...

Coronavirus hammered Hong Kong’s economy worse than protests

The trading in Hong Kong has been hit harder by the novel coronavirus compared to the six months of anti-government protests, according to financial...

Telemedicine owners charged in million dollars’ worth fraud scheme

The owners of telemedicine companies Advantage Choice Care and Tele Medcare were charged for allegedly masterminding a $56 million healthcare fraud scheme. Reinaldo Wilson and...

Bank exec barred by FED for involvement in Malaysian scandal

A senior executive of Goldman Sachs Group was permanently banned from working in the banking industry after he was found to have a role...

Philippines’ Central bank warns of fake banknote designs circulating on social...

The Central Bank of the Philippines, or “Bangko Sentral ng Pilipinas” (BSP) in Filipino translation, warned the public against fake designs of banknotes that were recently posted on social media. BSP released an advisory on January 23 saying that the postings were made by an existing Facebook account with the user name “Bangko Sentral ng […]

China’s new coronavirus hits global markets

"The cost to the global economy can be quite staggering in negative GDP terms if this outbreak reaches epidemic proportions." Thus, said Stephen Innes, an...

Three Malaysian execs face money laundering charges

Former Federal Land Development Authority (FELDA) Chairman Tan Sri Shahrir Abdul Samad and former International Trade and Industry Minister Datuk Seri Ahmad Maslan were arrested on...

UN worries about unemployment of 470M people worldwide

The United Nations’ International Labor Organization (ILO) said it is really worried about the lack of decent jobs of nearly half a billion people...

Thai regulations hurdle Tesco’s sale of Asian assets

Tesco's plan to sell its Asian assets may face scrutiny due to the new anti-competition regulations imposed by the Thai government. Sakon Varanyuwatana, chairman...

What to expect next as US-China trade deal gets inked

Investors across the globe can now expect a "fair and reciprocal trade" said US President Donald Trump as his country’s deal with China finally got...

Volcano eruption won’t hit Philippines GDP, says Economist

The National Economic and Development Authority (NEDA) of the Philippines said that the economic impact of Taal Volcano’s eruption does not pose a significant slowdown...

Hong Kong’s financial sector unmoved by protests

Hong Kong's Chief Executive Carrie Lam said their city’s financial strength remains intact despite the month-long protests launched against the government that has also...

US and China vowed to resolve economic disputes through comprehensive dialogue

Apart from inking the Phase 1 trade deal between the United States and China on January 15, the two nations have also agreed to...

World stocks rise as Mid-East tensions wane

The world's stocks reached a record high with more market gains following the lower tensions in the Middle East. Investors have reportedly bet on faster global...

President Trump boasts US’ investment boom in Ohio rally

Speaking in front of thousands of supporters during a campaign rally held Thursday night in Toledo, Ohio, US President Donald Trump shared that his...

Tesla’s market value surpassed Ford’s and General Motors’

The market value of Californian automotive company Tesla has increased by 7%, surpassing that of Ford’s and General Motors’ combined worth. For the first time,...

Australia’s bushfires hit businesses leading to more than $2 billion economic...

Several companies in Australia, including resorts, factories and insurance firms, have been reportedly hit as the summer’s devastating bushfires continue to rage. With fires ripping through...

Prices of crude oil soar after Iran’s missile attacks on US...

The prices of crude oil increased to $65.65 equivalent to 4.5% per barrel in Asian trade while global stock prices fell down. Reports claim that these...

Money trader Travelex down after getting victimized by cyberattack

The London-based foreign exchange company ‘Travelex’ was forced to shut down its online systems across the globe after falling into cyber traps on New...

US-Iran tensions put world market on edge

"The new year has started with a bang in so far as volatility is concerned." Thus, said technical analyst Fawad Razaqzada at Forex.com noting that the...

UK’s Clydesdale and Yorkshire Banks hit due to customers’ wage delays

British banks Clydesdale and Yorkshire are currently in hot water following complaints over errors in customers’ salaries and payments. The patrons of the two banks took their...

China’s Ant Financial applies for banking license in Singapore, joining Grab...

Shortly after Razer and Grab, world’s highest-valued FinTech company “Ant Financial” applied for a digital wholesale banking license in Singapore in its aim to promote...

Global stock markets slip on Christmas Eve

With numerous major global markets closed for Christmas, the equity markets across the globe mostly slipped in a subdued trading held few hours before the 25th....

World Bank President urges lawmakers to prioritize debt management to avert...

As the World Bank warns a ‘global wave of debt,’ its President, David Malpass stressed that “debt management and transparency need to be top priorities for...

UK financial system threatened by climate change

Banks and insurers in the United Kingdom are critically horrified by the huge financial risks that climate change brings. With environment and economy being...
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