<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 21): Genting Malaysia Bhd (GenM)’s Resorts World Genting, Resorts World Away, Resorts World Kijal and Resorts World Langkawi will be temporarily closed following the implementation of the Movement Control Order (MCO) in six more states.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing, the gaming giant also announced that its Resorts World Birmingham, alongside all land-based casinos in the UK, will be temporarily closed until further notice, in compliance with the British government directives to curb the spread of Covid-19. Its online business GentingBet.com is still operational</p></div>

<div class=newsTextDataWrapInner><p>“Meanwhile, GENM’s operations in the United States and the Bahamas remain open,” GenM said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The government announced two days ago that six more states, namely Kedah, Perak, Negeri Sembilan, Pahang, Terengganu and Perlis, will be placed under the MCO starting Jan 22 until Feb 4.</p></div>

<div class=newsTextDataWrapInner><p>With this, the MCO is enforced in all states, except Sarawak.</p></div>

<div class=newsTextDataWrapInner><p>Shares in GenM finished two sen or 0.83% lower at RM2.38, valuing the group at RM14.13 billion. The counter saw 7.46 million shares traded.</p></div>


Genting Malaysia Bhd (GenM)’s Resorts World Genting, Resorts World Away, Resorts World Kijal and Resorts World Langkawi will be temporarily closed following the implementation of the Movement Control Order (MCO) in six more states.

Genting Malaysia announces temporary closure of resorts following MCO expansion

Investors bought dollars, bitcoin and stocks, and sold bonds as Donald Trump claimed victory in the US presidential election and Republicans took control of at least one chamber of Congress.

US stock futures hit record highs, the dollar surged and Treasury yields jumped, while bitcoin broke US$75,000 for the first time — all moves flagged by investors as likely should Trump win over Democrat Kamala Harris.

'Trump trade' surges as he claims victory

Republicans won control of the US Senate with victories in West Virginia and Ohio on Tuesday, ensuring Donald Trump's party will control at least one chamber of Congress next year.

Republicans also posted early gains as they battled to retain control of the House of Representatives.

Trump's Republicans win control of US Senate, make gains in House

Pharmaniaga Bhd (KL:PHARMA) has revised its regularisation plan, which aims to lift it out of Practice Note 17 (PN17) status, by adjusting the capital reduction and excluding warrants from its rights issue.

The proposed plan now includes a RM520 million capital reduction, as well as a rights issue set to raise up to RM353.516 million. Meanwhile, a RM300 million private placement proposed by the company remained unchanged.

Pharmaniaga axes free warrants in RM654 mil fundraising plan, Boustead, LTAT may pump in RM194 mil

Malaysia’s services producer price index (PPI) increased marginally by 0.3% year-on-year to 115.8 in the third quarter of 2024 (3Q2024), compared with a 0.7% increase in 2Q2024, said the Department of Statistics Malaysia (DOSM).

Services producer price index up 0.3% in 3Q, official data show

Former Russian President Dmitry Medvedev said on Wednesday that a Donald Trump win in the US election would probably be bad news for Ukraine, but said it was unclear how far Trump would be able to cut US financing for the war.

Trump, a Republican, claimed victory in the 2024 presidential contest after Fox News projected that he had defeated Democrat Kamala Harris, which would cap a stunning political comeback four years after he left the White House.

Russia's Medvedev says a Trump presidency would be a blow to Ukraine

KUALA LUMPUR (Nov 6): The reintroduction of the goods and services tax (GST) system would take too long to implement and would not provide the necessary revenue within the desired timeframe to achieve the government’s fiscal targets, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Amir Hamzah: Expanding SST will better address fiscal challenges than reintroducing GST

German factory orders surged in September, a positive signal for the industrial sector whose prolonged bout of weakness may be coming to an end.

Demand rose 4.2% from the previous month, much more than the 1.5% economists polled by Bloomberg had estimated.

German factory orders jump in boost for beleaguered sector

As Republican Donald Trump claimed victory in the US presidential election, defeating Democrat Kamala Harris, China is bracing for four more years of bitter superpower rivalry over trade, technology and security issues.

Trump showed strength across broad swathes of the country, earning a bigger share of the vote nationwide than he did four years ago, ballots showed.

From Taiwan to trade, China braces for more rivalry as Trump claims victory

Why Nations Fail draws widely from across the globe and vividly from history to answer some big questions on why some societies prosper while others persist in poverty

 

 

 

Economics not long ago was at risk of becoming obscure and ...

Contemporary economics

Sabah’s residential property market saw improvement in 2Q2024, thanks to the higher volume and value of transactions compared with 12 months earlier.

“The state registered 1,297 residential transactions worth RM556.61 million in 2Q2024, with a year-on-year (y-o-y) growth of 8.26% [in vo...

 The Edge Malaysia/Rahim & Co Kota Kinabalu Housing Property Monitor 2Q2024: Continued growth despite slowed momentum

<p>Republican&nbsp;Donald&nbsp;Trump&nbsp;claimed victory in the 2024 presidential contest after <em>Fox News</em> projected that he had defeated Democrat&nbsp;Kamala Harris, which would cap a stunning political comeback four years after he left the White House.</p>


Trump claims victory as Fox News projects he has won US presidency

<p>KUALA LUMPUR (Nov 16): The Employees Provident Fund (EPF) has set aside a provision of RM24 million following an accounting adjustment at its Battersea joint venture (JV) firm.</p>


MOF: EPF books RM24m in provision for London’s Battersea project following IFRS treatment

<p>The Federal Court dismissed the appeal by a businesswoman, who was challenging the Court of Appeal decision&nbsp;which had overturned a High Court decision that she was entitled to RM200,000 damages from CTOS Data Systems Sdn Bhd (CDS), a subsidiary of CTOS Digital Bhd (KL:CTOS).</p>


Businesswoman’s challenge against CTOS ends, as apex court refuses to grant leave

<p>3REN Bhd’s (KL:3REN) shares&nbsp;rallied&nbsp;in early trade on Bursa Malaysia, emerging as the most actively traded stock on its debut on the ACE Market.</p>


3REN shares surge 25% on ACE Market debut

<p>Stocks extended gains, Treasury yields jumped, while the dollar climbed the most since February 2023, as early returns bolstered trades that have for months risen with Donald Trump’s election prospects.</p>


Stocks, dollar and yields rise on early Trump lead

<p>RHB Research anticipates Gamuda Bhd's (KL:GAMUDA) inclusion in the FBM KLCI, while Genting Malaysia Bhd (KL:GENM) and Genting Bhd (KL:GENTING) risk exclusion, ahead of the&nbsp;semi-annual review of the index's component stocks on Dec 5.</p>


RHB expects Gamuda's KLCI inclusion ahead of semi-annual review

<p>Bank Negara Malaysia (BNM) has kept the overnight policy rate (OPR) unchanged at 3% as widely expected as it noted the continued expansion of the global economy and the sustained strength of domestic economic activities with inflation remaining "modest".</p>

<p>The benchmark interest rate decision was made&nbsp;by the Monetary Policy Committee (MPC) at its&nbsp;meeting on Wednesday, it said in a statement.</p>


Bank Negara leaves OPR unchanged at 3%

<p>Malaysia remained the fifth most connected country in Asean in the first half of 2024 (1H2024), after Thailand, Singapore, Vietnam and Indonesia, according to the Malaysian Aviation Commission’s (Mavcom) latest Air Connectivity Index (ACI).</p>


Malaysia the fifth most connected country in Asean in 1H

<p>The government's decision to introduce mandatory Employees Provident Fund (EPF) contributions for foreign workers is meant to address the country's heavy dependence on foreign labour, while promoting fairness in the domestic labour market, said Finance Minister II Datuk Seri Amir Hamzah Azizan.&nbsp;</p>


Mandatory EPF contribution meant to reduce reliance on foreign workers, says Amir Hamzah

<p>SHANGHAI (Nov 5): Prime Minister Datuk Seri Anwar Ibrahim has extended an invitation to Jiangsu Longda Superalloy Co Ltd to expand its business into Malaysia.</p>


Anwar invites China’s Jiangsu Longda to expand biz into Malaysia

<p>Increased market volatility is expected in the near term due to the US presidential election, but the Federal Reserve's (Fed) decision&nbsp;following the Federal Open Market Committee meeting this Wednesday and Thursday is likely to have a more significant impact, said MIDF Research.</p>


Market volatility looms with US election, but Fed decision's impact more significant — MIDF

<p>KUALA LUMPUR (Nov 6): Plantation companies are projected to post higher quarter-on-quarter (q-o-q) earnings in their upcoming quarterly results, thanks to stronger output and improved performance within the oleochemical segment, said Hong Leong Investment Bank (HLIB).</p>


Planters set for higher quarterly earnings boosted by stronger output, oleochemical gains — HLIB

<p>Pharmaniaga Bhd (KL:PHARMA) has revised its regularisation plan, which aims to lift it out of Practice Note 17 (PN17) status, by adjusting the capital reduction and excluding warrants from its rights issue.</p>

<p>The proposed plan now includes a RM520 million capital reduction, as well as a rights issue set to raise up to RM353.516 million. Meanwhile, a RM300 million private placement proposed by the company remained unchanged.</p>


<p>A growing number of Wall Street strategists are predicting that a decision in the US presidential election will set the stage for stocks to rally into the end of 2024, building on a 21% gain this year for the S&amp;P 500 Index.</p>


Wall Street counting on stocks to rally after election hurdle

<p>Fraser &amp; Neave Holdings Bhd (KL:F&amp;N) has flagged that its cash flow will be affected by the delayed start of milk production at its integrated dairy farm in Gemas, Negeri Sembilan, due to the sudden suspension of imports of dairy cows from the US due to concerns over an avian flu outbreak. &nbsp;</p>


F&N flags cash flow impact from delayed milk production at Gemas farm due to suspension of heifer imports

<p>KUALA LUMPUR (Nov 6): Malaysia is set to launch a new investment incentive scheme by mid-2025, that aims to introduce stricter regulations for foreign investors to meet localisation requirements.</p>


Liew: Malaysia to introduce stricter localisation standard requirement for foreign investments

<p>Malaysian military contractor Leonard Francis, also known as 'Fat Leonard', one of the main defendants in the US Navy's worst-ever corruption scandal, has been sentenced to 15 years of imprisonment, the US Attorney's Office in Southern District of California said on Wednesday.&nbsp;</p>


M'sian military contractor 'Fat Leonard' sentenced to 15 years in US jail for bribery

<p>SINGAPORE (Nov 6): Malaysia’s central bank, Bank Negara&nbsp;Malaysia&nbsp;(BNM), is closely monitoring the US presidential election and is prepared to manage market volatility and ensure orderly market conditions, it told <em>Reuters</em> late on Tuesday (Nov 5).</p>


BNM set to manage market volatility, monitoring US election

<p>Former attorney general Tan Sri Tommy Thomas has contended that there was no malice in prosecutions&nbsp;during&nbsp;his time as the AG, and that he was merely discharging his constitutional duties when preferring criminal charges, regardless of the accused's political standing.</p>


Tommy Thomas says no political prosecution when he was AG, only constitutional duties being discharged

<p>SHANGHAI (Nov 6): Prime Minister Datuk Seri Anwar Ibrahim will commence the third day of his working visit to Shanghai, China, with a Dialogue Session with Chinese investors organised by Khazanah Nasional Bhd.</p>
