Newsfeed – Business News
Ringgit edges higher against US dollar as softer inflation tempers Fed hike fears
KUALA LUMPUR, July 16 — The ringgit ended marginally higher against the US dollar today, supported by softer-than-expected United States (US) inflation data and reduced expectations of a near-term rate […]
Financials and plantations lead Bursa gains as investors eye GDP release
KUALA LUMPUR, July 16 — Bursa Malaysia’s key index rebounded from yesterday’s losses to close higher on Thursday, driven by broad-based buying across multiple sectors. At 5pm, the FTSE Bursa […]
Asian stocks mostly sink as AI worries hammer tech
HONG KONG, July 16 — Most Asian stocks sank on Thursday as tech firms came under renewed pressure from worries over the AI boom, with Seoul again taking the brunt […]
Uber strikes €12.7b deal to take over Germany’s Delivery Hero
FRANKFURT, July 16 — German food delivery group Delivery Hero said Thursday it has agreed to be taken over by US ride-hailing giant Uber in a €12.7 billion (RM59.3 billion) […]
South Korea central bank raises rates for first time in three years as chip exports surge
SEOUL, July 16 — South Korea’s central bank hiked interest rates Thursday for the first time in more than three years and indicated more to come amid robust economic growth […]
AI boom powers TSMC to record RM89.6b quarterly profit
TAIPEI, July 16 — Taiwanese chipmaker TSMC reported a record net profit for the second quarter on Thursday, fuelled by massive demand for artificial intelligence hardware. TSMC, the biggest contract […]
TikTok Shop closes in on Shopee as usage rises to 62pc among Malaysian online shoppers, Ipsos survey finds
KUALA LUMPUR, July 16 — More Malaysians are turning to e-commerce platforms for everyday purchases, with TikTok Shop continuing to narrow the gap with market leader Shopee, according to a […]
US slaps 25pc tariff on Brazilian imports after trade probe
WASHINGTON, July 16 — The United States on Wednesday announced a new tariff on various imports from Brazil, after a year-long investigation into the Latin American giant’s trade and other […]
Australia targets big firms with tougher modern slavery penalties after US tariff threat
SYDNEY, July 16 — Australia will make big companies criminally liable for modern slavery in supply chains, the nation’s top lawyer said Thursday, weeks after the United States threatened trade […]
Malaysian households now 18pc better off than before Covid — but debt clouds the horizon
KUALA LUMPUR, July 16 — The average Malaysian household now has 18 per cent more purchasing power than it did in 2019, according to a new consumer outlook report from […]