<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Malaysia Weekly on February 14, 2022 - February 20, 2022</span></p></div><div><img alt="" class="gallery-items" data-high-res-src="https://assets.theedgemarkets.com/pictures/TEM1408-infographic-2_theedgemarkets.jpg" src="" /></div>
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Singapore held on to its top ranking among 50 leading maritime cities in the world during the Covid-19 pandemic, according to the 2022 edition of the “Leading Maritime Cities of the World” (LMC) report by economic analysis and advisory firm Menon Economics and classification society DNV.

Leading maritime cities of  the world

Wall Street's main indexes rose on Tuesday as technology and chips stocks gained, while investors braced for volatile trading over the next few sessions as voting began in a tightly contested US presidential election.

Wall Street gains on election day as technology, chip stocks rise

The economic cost of climate change will likely be much more severe than previously feared, as fresh data informs models used to predict the most probable outcomes.

Taking the latest available climate data into account, including record increases in temperatures, “the projected physical risk impact” of climate change on gross domestic product (GDP) has quadrupled by 2050 in some scenarios, the Network for Greening the Financial System (NGFS) said in a report on Tuesday.

Global GDP seen taking much bigger climate hit than first feared

The US trade deficit surged to nearly a 2-1/2-year high in September as businesses boosted imports to meet robust domestic demand and in anticipation of higher tariffs on goods.

Imports boost US trade deficit to nearly 2-1/2-year high in September

The UK’s fiscal watchdog accused Treasury civil servants of breaking the law by withholding information before the March budget, raising the stakes in a blame game over who was responsible for hiding a multi-billion pound shortfall.

UK budget watchdog says Treasury officials may have broken law

Global investors were on edge as Americans headed to the polls on Tuesday, drawing to a close a dramatic US election cycle that has moved bonds, stocks and other assets in recent months and could further sway markets as results become clearer.

Anxious global investors brace for long-awaited US election results 

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

F&N, Xin Hwa, IOI Corp, T7 Global, TCS Group, Sime Darby Property, Aneka Jaringan

Super Micro Computer Inc started the year as a hot artificial intelligence (AI) trade. But just eight months after shares hit a record high, investors are asking whether the server maker will be delisted by Nasdaq Inc and booted from the S&P 500.

Super Micro faces delisting, S&P 500 removal amid auditor woes

Burger King parent Restaurant Brands and KFC owner Yum Brands missed market estimates for quarterly results on Tuesday, hit by choppy demand in the United States and abroad from budget-stretched customers.

Burger King, KFC owners miss results estimates as fast-food spending wanes

Electrical engineering services provider HE Group Bhd (KL:HEGROUP), which was listed on the ACE Market in January, said its major shareholders plan to dispose of 4.54% of their shares to comply with a Bumiputera equity condition set by the authorities.

HE Group's major shareholders to sell 4.54% stake to Bumiputera investors

Investigators searched the offices of US streaming giant Netflix in France and the Netherlands as part of a preliminary investigation into tax fraud laundering, a French judicial source said on Tuesday.

Tax fraud investigators search Netflix offices in Paris and Amsterdam — Reuters

<p>Shares of Petronas Chemicals Group Bhd (KL:PCHEM) fell to their lowest in four and a half years after dropping 44 sen or 8.04% to close at RM5.03 on Tuesday, a level last seen in April 2020, as expectations mount that the group would be posting weaker results.</p>


PetChem shares dive to lowest in over four years as expectations for weaker earnings mount

<p>Super Micro Computer Inc started the year as a hot artificial intelligence (AI) trade. But just eight months after shares hit a record high, investors are asking whether the server maker will be delisted by Nasdaq Inc and booted from the S&amp;P 500.</p>


<p>IOI Corp Bhd (KL:IOICORP) said on Tuesday it has allocated part of its aged plantation landbank in Johor to build a solar power plant, in a move to venture into the renewable energy sector.</p>


IOI Corp allocates land in Johor for solar power plant

<p>When <em>Reuters </em>reported in April that Tesla had scrapped plans for a long-promised, next-generation US$25,000 (RM108,937) electric vehicle, the automaker’s stock plunged. Chief executive Elon Musk rushed to respond on X, his social-media network.</p>


Musk now says it's 'pointless' to build a US$25,000 Tesla for human drivers

<p>The federal government will incorporate policies for the adoption of nuclear energy in the nation's energy mix under the upcoming 13th Malaysia Plan, set to be implemented from 2026 to 2030, as part of its goal to achieve net zero carbon emissions by 2050.</p>


Government to include nuclear energy policies in 13th Malaysia Plan — Rafizi

<p>Police in Bangladesh have asked the Malaysian government to arrest and extradite two businessmen as part of a probe of alleged money laundering, extortion and trafficking of migrant workers.</p>


Bangladesh seeks arrest of Bestinet founder, associate in worker trafficking probe

<p>KUALA TERENGGANU (Nov 5): A mosque chairman in a Terengganu district has been remanded for six days in connection with an investigation into allegations of submitting a fraudulent list of ineligible zakat recipients in&nbsp;April.</p>


Terengganu mosque chairman remanded in zakat fraud investigation — MACC

<p>Proton Holdings Bhd said it achieved a 13.6% rise in sales in October, reaching 12,799 units (including exports) against the backdrop of total industry volume (TIV) exceeding 70,000 units for a fifth time this year.</p>


Proton sales climb 13.6% in October, TIV exceeds 70,000 units again

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


<p>Electrical engineering services provider HE Group Bhd (KL:HEGROUP), which was listed on the ACE Market in January, said its major shareholders plan to dispose of 4.54% of their shares to comply with a Bumiputera equity condition set by the authorities.</p>


<p>The founding couple of an online fashion business on Tuesday provided their statements to the Malaysian Anti-Corruption Commission (MACC).</p>


FashionValet founders quizzed over RM43.9m investment loss

<p>Fraser &amp; Neave Holdings Bhd's (KL:F&amp;N) net profit for the fourth quarter ended Sept 30, 2024 (4QFY2024) dropped 38.21% year-on-year to RM84.99 million from RM137.56 million, impacted by higher tax expenses and increased withholding taxes on dividends repatriated from its Thailand operations.</p>


F&N profit falls 38% on higher taxes from Thai ops, pays 33 sen dividend

<p>elow is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.</p>


FBM KLCI up 0.26% to 1,620.70 on Nov 5, 2024

<p>Ann Joo Resources Bhd (KL:ANNJOO) said its rights issue of 140.35 million shares with free detachable warrants has been oversubscribed by 31.4%.</p>


Ann Joo’s rights issue sees 31% oversubscription

<p>TCS Group Holdings Bhd (KL:TCS) has secured a RM86.38 million contract from Sime Darby Property Bhd (KL:SIMEPROP) for the construction of 60 units of two-storey semi-detached factories at the Elmina Business Park in Sungai Buloh.</p>


TCS Group secures RM86m construction contract from Sime Darby Property

<p>Burger King parent Restaurant Brands and KFC owner Yum Brands missed market estimates for quarterly results on Tuesday, hit by choppy demand in the United States and abroad from budget-stretched customers.</p>


<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>Construction player Gagasan Nadi Cergas Bhd (KL:NADIBHD) is buying two companies for RM185 million, cash, to gain control of Konsortium PAE Sepakat Sdn Bhd (KPSSB), which owns a facility management concession for student hostel facilities in seven polytechnic campuses.</p>


Gagasan Nadi Cergas buys student hostel management concession for RM185m

<p>Investors ramped up oil futures and options trading in October to record levels in a bid to hedge growing uncertainty as war rages on in the Middle East and a bearish 2025 supply and demand outlook looms, triggering big swings in crude prices.</p>


Oil hedging activity hits record in October as traders eye market risks

<p>Trading in the shares of Smile-Link Healthcare Global Bhd (KL:SMILE) and MCOM Holdings Bhd (KL:MCOM) will be suspended on Friday (Nov 8) due to the two LEAP Market companies' failure to submit their annual audited financial statements for the period ended June 30, 2024, said Bursa Malaysia Securities.</p>
