<div class=newsTextDataWrapInner>SINGAPORE (Oct 24): OCBC Bank has been named Global Finance’s World Best Consumer Bank.</div>

<div class=newsTextDataWrapInner>The longest-established Singapore bank, formed in 1932 from the merger of three local banks, is now the second largest financial services group in Southeast Asia in terms of assets.</div>

<div class=newsTextDataWrapInner>In a statement, Ching Wei Hong, Chief Operating Officer of OCBC Bank, said: “We are honoured to be recognised as a global leader in consumer banking. This award is a testament to our unceasing obsession with customer-centricity. Competition is a constant in the consumer banking industry and consumers are constantly on the lookout for innovative products and services that blend seamlessly into the rest of our daily lives.”</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>For the full story, visit&nbsp;<a href="https://www.theedgesingapore.com/news/company-news/ocbc-named-global-finances-world-best-consumer-bank" target="_blank">www.theedgesingapore.com</a>.</div>

OCBC Bank has been named Global Finance’s World Best Consumer Bank.

The longest-established Singapore bank, formed in 1932 from the merger of three local banks, is now the second largest financial services group in Southeast Asia in terms of assets.

OCBC named Global Finance's World Best Consumer Bank

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&P 500 Index.

Morgan Stanley’s Mike Wilson and JPMorgan Chase & Co.’s Dubravko Lakos-Bujas are among market watchers who said this week that the stock benchmark is poised to swing higher once a victor is declared.

Wall Street is counting on stocks to rally after election hurdle

Stocks climbed Tuesday while Treasuries were mixed and the dollar fell in the last trading session before votes are tallied in a US presidential race with far-reaching implications for the economy.

Neither the size of the moves nor volume indicated strong conviction on the outcome of a contest that polls continue to put at a dead heat.

Tech pushes stocks higher with vote in full swing

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

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.

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.

IOI Corp allocates land in Johor for solar power plant

When Reuters 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.

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

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.

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

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

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

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

FashionValet founders quizzed over RM43.9m investment loss

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.

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

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%.

Ann Joo’s rights issue sees 31% oversubscription

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.

TCS Group secures RM86m construction contract from Sime Darby Property

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.

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

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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.

Gagasan Nadi Cergas buys student hostel management concession for RM185m

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.

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

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.

LEAP Market-listed Smile-Link, MCOM to be suspended after failing to meet results deadline

（吉隆坡5日讯）由于市场预期国油化学（Petronas Chemicals Group Bhd）（KL:PCHEM）业绩将疲软，该股今日下挫8.04%至4年半低位。

盈利预期疲软 国油化学挫至逾4年最低

The US stock market is unlikely to head into a bear market in the next 12 months, with a resilient economy continuing to support equities, according to Goldman Sachs Group Inc strategists.

Goldman strategists see little chance of post-poll bear market

NXP Semiconductors NV fell in late trading after giving a disappointing forecast for fourth-quarter (4Q) sales and earnings, hurt by a slowdown from automotive customers and weak industrial demand.

NXP tumbles after auto industry slump weighs on forecast

Malaysia will be the first Southeast Asian country to host the Smart City Expo (SCE) in Kuala Lumpur from Sept 17-19, 2025. It highlights the country’s commitment to innovation and sustainable digital city development while positioning itself as a leading nation in Asean.&nbsp;

KL gears up for Southeast Asia's inaugural Smart City Expo — Gobind

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.