Asian refiners' margins slumped to their lowest seasonal levels since 2020 this week as supplies of diesel and gasoline rose after peak summer travel demand ended, industry officials and analysts said on Friday.

Asia refining margins at lowest seasonal levels since 2020 as supplies grow

(Oct 3): A surge in the stock prices of Thai billionaire Sarath Ratanavadi’s power company Gulf Energy Development Pcl and its telecoms affiliate Intouch Holdings Pcl may make it more challenging for the almost US$30 billion (RM126.48 billion) merger to get done.

Gulf Energy, Intouch stock rallies put US$30b deal at risk

Long lines of container ships queued up outside major US ports on Thursday as the biggest dockworker strike in nearly half a century entered its third day preventing unloading and threatening shortages of everything from bananas to auto parts.

Ship queue grows at US ports as dockworker strike enters third day

SoftBank Group Corp founder Masayoshi Son sketched out one of the most aggressive timelines for the adoption of artificial intelligence (AI) yet, envisioning a near future where the technology would run entire households.

SoftBank’s Son envisions AI running households in next few years

(Oct 3): Miami Dolphins owner Stephen Ross is in advanced talks with private equity firm Ares Management and billionaire Joe Tsai to sell stakes in the NFL team and other assets at a valuation of US$8.1 billion (RM34.15 billion), according to people familiar with the transaction.

Miami Dolphins owner nears selling of stakes to Ares and billionaire Joe Tsai

Malaysia’s central bank said on Thursday domestic financial institutions, including insurers, remained supportive of economic growth amid resilient businesses and households while the ringgit strengthens.

Malaysia's financial institutions supportive of economic growth as households, businesses stay resilient — BNM

A Singapore court on Thursday sentenced a former minister to 12 months in prison for obstructing justice and receiving more than US$300,000 (RM1.25 million) worth of gifts, in the first jailing of an ex-cabinet member in a city-state famous for its clean governance.

Singapore's disgraced former transport minister jailed for 12 months in landmark case

KUALA LUMPUR (Oct 3): The Sessions Court on Thursday dismissed former prime minister Tan Sri Muhyiddin Yassin’s application to get his international passport returned to him for him to have a vacation and to celebrate his 52nd wedding anniversary with his family in Uzbekistan and Doha, Qatar. He was scheduled to leave the country on Friday, Oct 4, and return on Oct 12.

 Court denies Muhyiddin a return of his passport for vacation and to celebrate anniversary overseas

NAGASAKI, Japan (Oct 3): Bank of Japan (BOJ) board member Asahi Noguchi said on Thursday that the central bank must patiently maintain loose monetary policy, as it will take time to eradicate the public's view that prices are not set to rise much in the future.

BOJ must patiently maintain loose policy, says board member Noguchi

Indonesian sovereign bond bulls are betting that a rally will extend on looming interest-rate cuts as the country undergoes a change in government this month.

Indonesia bond bulls say rally will build on series of rate cuts

Malaysia may miss its own budget target next year amid potentially lower government revenue and higher operating expenditures, CGS International warned on Thursday.

Putrajaya may miss budget target next year as revenue falls, spending rises — CGS

KUALA LUMPUR (Oct 3): The Sessions Court on Thursday dismissed former prime minister Tan Sri Muhyiddin Yassin’s application to get his international passport returned to him for him to have a vacation and to celebrate his 52nd wedding anniversary with his family in Uzbekistan and Doha, Qatar. He was scheduled to leave the country on Friday, Oct 4, and return on Oct 12.

The yen suffered its biggest drop in more than two years and hit its weakest level in a month versus the dollar after Japan’s new prime minister, Shigeru Ishiba, jolted currency markets by saying the economy isn’t ready for another interest-rate hike. &nbsp;

Yen closes out worst day since 2022 as rate-hike hopes dim 

Levi Strauss said on Wednesday it was considering a sale of its underperforming Dockers brand and forecast fourth-quarter revenue below expectations, sending its shares down 10% in extended trading.

Levi Strauss considers possible sale of Dockers brand, shares tank 10%

As global investors such as Thrive Capital and Tiger Global invest US$6.6 billion (RM27.5 billion) in OpenAI, the ChatGPT-maker sought a commitment beyond just capital — they also wanted investors to refrain from funding five companies they perceive as close competitors, sources told Reuters.

OpenAI asks investors to avoid five AI startups including Sutskever's SSI — Reuters 

Malaysia may miss its own budget target next year amid potentially lower government revenue and higher operating expenditures, CGS International warned on Thursday.

Donald Trump should stand trial for his “private crimes” in trying to overturn the 2020 election, US prosecutors argued in a newly unsealed court filing that sheds fresh light on his interactions with former vice president Mike Pence.

Trump said ‘so what’ when told of Pence peril on Jan 6, US says

A Singapore court on Thursday sentenced a former minister to 12 months in prison for obstructing justice and receiving more than US$300,000 (RM1.25 million) worth of gifts, in the first jailing of an ex-cabinet member in a city-state famous for its clean governance.

Hong Leong Investment Bank Bhd (HLIB) has maintained its “overweight” stance on the construction sector as it bet that the construction contracts awarded in 2024 could exceed over RM40 billion, with the potential to surpass RM50 billion, marking the highest level since 2016.

Infrastructure contracts seen topping RM50b for first time since 2016 — HLIB 

Long lines of container ships queued up outside major US ports on Thursday as the biggest dockworker strike in nearly half a century entered its third day preventing unloading and threatening shortages of everything from bananas to auto parts.

BIMB Securities has resumed coverage on Malaysian Pacific Industries Bhd (KL:MPI) with a "buy" call and a target price (TP) of RM40.36 — a 50% upside from its current share price, driven by strong growth outlook.

BIMB Securities resumes coverage on MPI with ‘buy’ call on positive growth outlook

IJM Land Bhd will launch the first phase of Batiq @ S2 Heights Aman in Seremban, Negeri Sembilan, with 82 two-storey linked homes in the first quarter of 2025.The overall 20-acre Batiq project will have 177 units of linked homes with a gross development value (GDV) of RM173 million.

IJM Land to launch first phase of Batiq homes in Seremban 2 in 1Q2025

Rice prices tumbled the most in more than 16 years in Asia as concerns over supply eased after India relaxed some export restrictions.

Rice plunges the most in 16 years after India eases export curbs

KUALA LUMPUR (Oct 3): Press Metal Aluminium Holdings Bhd’s (KL:PMETAL) earnings in the third quarter could be softer, partly due to stronger ringgit that weighs on its exports receipts, RHB Investment Bank (RHB IB) flagged.

Press Metal’s 3Q earnings could be softer from stronger ringgit, RHB IB flags

KUALA LUMPUR (Oct 3): Velesto Energy Bhd (KL:VELESTO) said it has completed its mandatory five yearly special periodical survey (SPS) for its Naga 6 back-up rig on schedule.&nbsp;

Velesto completes periodical works on Naga 6 rig on schedule

Tesla's most affordable Model 3 compact sedan was no longer available for order in the US, according to the EV maker's website on Wednesday.

Tesla discontinues most affordable Model 3 variant in US, website shows

Oil prices ticked higher in early trade on Thursday as investors weighed the escalating conflict in the Middle East and the potential for disruption to crude flows, against an amply-supplied global market.

Oil rises as Middle East conflict deepens, gains capped by global supply outlook

&nbsp;Treasuries slid and the US dollar climbed after stronger-than-expected jobs numbers dampened Wall Street’s confidence that the Federal Reserve’s next interest-rate cut would be a big one.&nbsp;

Ten-year yields closed in on 3.8% after hitting a low of 3.69% in the prior session amid a&nbsp;flare-up&nbsp;of tensions in the Middle East.

Bonds slip as promise of second big US Fed cut curbed

The UK government will give banks more time to investigate payments they suspect are fraudulent in a welcome reprieve for lenders as they prepare for new rules that will require them to reimburse many customers that fall victim to scams.

UK banks now have up to four days to check payments for scams

KUALA LUMPUR (Oct 3): The Asean+3 Macroeconomic Research Office (Amro) has revised its full-year economic growth forecast for the Asean+3 region to 4.2% for 2024 (previously 4.4%), citing slower growth expectations for China and Vietnam.

Amro trims Asean+3 2024 growth forecast on China, Vietnam slowdown

After a turbulent few weeks through late October, US stocks are likely headed for a year-end rally that could push the S&amp;P 500 Index past the 6,000 level, says Scott Rubner at Goldman Sachs Group Inc.

Florence Tan and Trixie Yap

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