<div class=newsTextDataWrapInner><p>SINGAPORE (July 15): Sapphire Corporation has clinched new infrastructure contracts worth about RMB 873 million ($175 million) in China.</p></div>

<div class=newsTextDataWrapInner><p>The contracts were won through construction subsidiary, Ranken Infrastructure.</p></div>

<div class=newsTextDataWrapInner><p>The projects include a RMB 300 million yuan project to build the Jian Cao Ping flyover that will connect to Metro Line 2, Taiyuan City's first metro line.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The other is the RMB 313 million contract to construct part of the Urumqi Rail Transit Line 2 and the Hama Mountain Station.</p></div>

<div class=newsTextDataWrapInner><p>The third is the 3.26km Shun He viaduct in Jinan City, valued at RMB210 million and other civil engineering works for metro lines in Chongqing and Chengdu, worth RMB 50 million.</p></div>

<div class=newsTextDataWrapInner><p>Sapphire says it will continue to accelerate business expansion opportunities by targeting projects for metro, urban rail transit and major land transport infrastructure in China and South-east Asia.</p></div>

<div class=newsTextDataWrapInner><p>It is also in talks with governments in South Asia regarding infrastructure business opportunities in the region.</p></div>

<div class=newsTextDataWrapInner><p>Sapphire Corporation closed flat at 28 cents.</p></div>


SINGAPORE (July 15): Sapphire Corporation has clinched new infrastructure contracts worth about RMB 873 million ($175 million) in China.

The contracts were won through construction subsidiary, Ranken Infrastructure.

The projects include a RMB 300 million yuan project to build ...

Sapphire Corporation wins $175 mil in contracts

(Oct 11): Authorities in China have started to ask some overseas shipowners to report on their carbon emissions, highlighting greater scrutiny of the industry as the regulatory framework shifts.

China seeks carbon data from ships as trading scheme grows

BlackRock's assets under management hit a record high for the third straight quarter on Friday, helped by surging inflows to the company's exchange-traded funds and a searing equity rally that boosted the value of its clients' investments.

BlackRock hits record high US$11.5 tril in assets on market rally, ETF boost

Gadang Holdings Bhd (KL:GADANG) is disposing of a leasehold land in Sungai Buloh for RM65 million to partially finance its existing construction projects and repay borrowings.

Gadang to sell leasehold land in Sungai Buloh for RM65m 

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week.

Most read this week

Asean and Beijing have reached an agreement to avoid disputes in the South China Sea, said Prime Minister Datuk Seri Anwar Ibrahim.

Asean, Beijing agree to avoid conflict in South China Sea — Anwar

French markets greeted Prime Minister Michel Barnier’s plan to rein in the nation’s deficit with little more than a shrug, as investors seek further signs that his government will draw a line under years of fiscal profligacy.

French markets digest Barnier’s budget as fiscal concerns linger

NEWS: Gamuda launches AI Academy

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday.

FBM KLCI down 0.45% to 1,633.55 on Oct 11, 2024 

(Oct 11): China’s spillovers to Asian nations have weakened over the past few years and how Beijing deploys an expected fiscal boost will be critical to whether their exports to the world’s No. 2 economy revive, analysis by Nomura Holdings Inc shows.

China economic spillovers to Asia hinge on property, Nomura says

Nobuyo Oyama, a voice actress best known for playing the titular character in the Japanese anime series Doraemon, has passed away, her agency said on Friday, the Kyodo News Agency reported.

Nobuyo Oyama, voice of Doraemon, passes on at 90

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

<p>Public Bank Bhd's (KL:PBBANK) acquisition of a 44.15% stake in insurer LPI Capital Bhd (KL:LPI) for RM1.72 billion is considered "fair and reasonable", as the deal is expected to boost earnings of the country third-largest banking group by assets while maintaining strong capital ratios, analysts said.</p>


Analysts deem Public Bank's acquisition of 44.15% stake in LPI Capital 'fair and reasonable'

<p>TikTok, a short-form video social media app, is laying off several hundred people globally, including a large number of employees&nbsp;in Malaysia.</p>

<p>It is understood that the Malaysians affected by the layoffs are mostly in content moderation, amid a shift to automation by the firm owned by China-headquartered&nbsp;internet company&nbsp;ByteDance Ltd.</p>


TikTok lays off hundreds globally, including in Malaysia, as it automates content moderation

<p>Malaysia welcomes investments of US$14.70 billion (RM63.02 billion) proposed so far by&nbsp;US technology giants, including Google, Microsoft, Enovix Corporation, Amazon Web Services, Abbott Laboratories, and Boeing.</p>


Anwar welcomes US$14.7b investments proposed by US tech giants

<p>KUALA LUMPUR (Oct 11): After missing expectations for its full-year results, Top Glove Corporation Bhd (KL:TOPGLOV) is expected to continue facing challenges amid escalating costs and unfavourable currency movements, prompting downward revision on earnings forecasts by analysts.</p>


Top Glove faces ongoing headwinds from rising costs and currency woes — analysts

<p>Investors and analysts are expecting China to deploy as much as two trillion yuan (US$283 billion or RM1.21 trillion) in fresh fiscal stimulus, as Beijing seeks to shore up the world’s No&nbsp;2 economy and boost confidence.</p>

<p>That’s what they hope the country’s finance minister will announce at a highly anticipated briefing on Saturday, according to a majority of 23 market participants surveyed by <em>Bloomberg</em>. Most of the respondents expect the funding to come in the form of government bonds.</p>


Chinese investors expect US$283b of new stimulus this weekend

<p>KUALA LUMPUR (Oct 11): Lim Seong Hai Capital Bhd, a construction and engineering firm, has filed for an initial public offering (IPO) as part of its listing transfer to the ACE Market&nbsp;from the LEAP Market.</p>


Lim Seong Hai Capital files for IPO as part of transfer to ACE Market

<p>Public Bank Bhd (KL:PBBANK) shares fell to their lowest level in two months on Friday, as investors expressed concerns over potential share overhang from plans of the family of its late founder Tan Sri Teh Hong Piow to trim their stake.</p>


Public Bank drifts to two-month low amid share overhang concern

<p>Global stocks traded sideways on Friday as a stunning rally in Chinese shares paused and investors held back from placing more bets ahead of a much-anticipated update on fiscal stimulus from Beijing this weekend.</p>


Stocks trade sideways awaiting China stimulus moves

<p>Signature International Bhd (KL:SIGN) will house its interior fit-out and renovation subsidiaries for listing on the ACE Market under Signature Alliance Group Bhd.</p>


Signature Alliance files for ACE Market IPO

<p>Deutsche Bank has been ordered by the High Court to surrender documents to 1Malaysia Development Bhd (1MDB) pertaining to 1MDB's suit regarding PetroSaudi International Ltd.</p>


Court orders Deutsche Bank to hand over documents to 1MDB for suit on PetroSaudi International

<p>Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa held productive discussions on Thursday in Shenzhen with two major Chinese technology firms, Baidu and Tencent, to explore strategic collaborations aimed at advancing the Federal Territories.</p>


Baidu, Tencent could offer strategic collaborations to advance Federal Territories, says Zaliha

<p>Tesla Inc chief executive officer Elon Musk showcased on Thursday a long-awaited robotaxi with two gull-wing doors and no steering wheel or pedals, and surprised with a robovan, betting on a shift in focus from low-priced mass-market cars to robotic vehicles.</p>


Tesla's Musk unveils 'Cybercab' robotaxi as focus shifts to automation

<p>KUALA LUMPUR (Oct 11): The charges in Datin Seri Rosmah Mansor’s RM7.1 million trial is bad in law, as it equates failure to declare income tax as a money laundering offence, the High Court heard on Friday.</p>


Rosmah’s money laundering case: Lawyers argue tax evasion does not equate laundering

<p>Pharmaniaga Bhd (KL:PHARMA) has appointed Ernst &amp; Young (EY) as its new external auditor, effective from Wednesday, Oct 9.</p>

<p>The company said EY is replacing PricewaterhouseCoopers, which resigned following a formal written notice served on the group on Sept 20.</p>


EY is Pharmaniaga's external auditor from Oct 9

<p>Warren Buffett can take his time to reveal trades in Bank of America Corp stock now that his conglomerate’s stake has been trimmed below a 10% regulatory threshold requiring rapid disclosure.</p>


Buffett cuts Bank of America stake below 10%, letting him trade in secret

<p>US stocks fell after data showed hotter-than-expected inflation and a slowdown in the labour market, amplifying the debate on whether the Federal Reserve (Fed) will opt for a smaller rate cut next month or a pause after a large September reduction.</p>

<p>Following a rally to all-time highs, the S&amp;P 500 took a breather. While Thursday’s economic figures were not perceived by Wall Street as catastrophic, they certainly highlighted the Fed’s challenge of bringing inflation back to the 2% target without cooling the jobs market too much. And that has added to the debate about the Fed’s next steps. For now, bond traders continued to bet the central bank will reduce the pace of cuts to 25 basis points in November.</p>


Wall St falls as data fuels debate on Fed’s next move

<p>PETALING JAYA (Oct 11): Gamuda Bhd (KL:GAMUDA) has launched the Gamuda AI Academy aimed at cultivating the local talent pool for artificial intelligence (AI) to support Malaysia’s digital transformation.</p>


Gamuda AI Academy opens courses for AI coding

<p>Malaysia’s wholesale and retail sales grew at its slowest pace in 14 months in August amid deceleration in all subsectors, according to official data released on Friday.</p>


Malaysia's August wholesale and retail trade sales growth rate decelerates to 14-month low

<p>Malaysia’s industrial production index (IPI) increased by 4.1% in August 2024, propelled by the moderate growth in the manufacturing sector, said the Department of Statistics (DOSM).</p>
