Rich nations’ climate hypocrisy is accelerating global heating, pushing the planet closer to irreversible catastrophe, with its worst consequences borne by the poorest, both countries and peoples.

Climate injustice

While official and other discourses acknowledge or even invo...

My Say: Rich nation hypocrisy accelerating global heating

The International Monetary Fund’s No 2 recommends non-alignment as the best option for developing countries in the second Cold War as geopolitics threatens already dismal prospects for the world economy and well-being.

IMF warning

Ominously, IMF first deputy managing directo...

My Say: IMF calls for non-alignment in second Cold War

As dire economic predictions for 2023 did not materialise, pundits began 2024 far more optimistically. But policy ghosts from the last half-century will likely undermine such wishful thinking.

Optimistic forecasts

As New Year celebrations of different cultures decline with t...

My Say: Hapless New Year for Global South

A gathering “perfect storm” — due to various developments, several of which are quite deliberate — now threatens to wreak much devastation in the global South, and is likely to most hurt the poorest and most vulnerable.

Globalisation’s protracted decline

The age of globalisa...

My Say: North ignores ‘perfect storm’ in global South

World Bank aid encourages governments to enable illicit financial outflows to offshore tax havens by reducing capital controls, thus draining precious foreign exchange and government resources.

Aiding elite wealth

Aid disbursements to highly aid-dependent countries coincide ...

My Say: World Bank enables foreign aid theft

The World Bank insists commercial finance is necessary for achieving economic recovery and the United Nations Sustainable Development Goals (SDGs), but does little to ensure profit-hungry commercial finance serves the public interest.

By failing to address pressing challenges within the...

My Say: World Bank enables private capture of profits, public resources

All of us are undoubtedly much influenced by the circumstances in which we live. Profesor Diraja Dr Ungku Abdul Aziz Ungku Abdul Hamid (Jan 28, 1922 to Dec 15, 2020) chose a path less well taken by his peers of privilege, dedicating himself instead to a nation not yet born, to the poor, the solid...

My Say: Ungku Aziz’s lasting footprints in the nation’s sands of time

Greater government reliance on consulting companies has greatly enriched them while also undermining state capacities, capabilities, national economies, progress, governance and legitimacy.

The big con

Over recent decades, policy consultancy has gradually gained more public ...

My Say: Big cons: How consultancy firms undermine governments

Many in the wealthy West have misrepresented the causes of global warming, offering false solutions while claiming the high moral ground. This distracts attention from how they became wealthy while emitting greenhouse gases (GHGs).

my Say: Rich distort climate problems, offer self-serving solutions

US President Joe Biden’s Indo-Pacific Economic Framework for Prosperity (IPEF) is the economic arm of his Indo-Pacific strategy, a regional initiative to mobilise India, Oceania and East Asia in the new US Cold War against China. While it has been touted with much fanfare by his White House, it c...

My Say: Malaysian hopes of market access via Indo-Pacific Economic Framework for Prosperity reveal wishful thinking

IT was 18 years ago that Malaysia decided to raise the ratio of contributions to the “sacrosanct” Retirement Account 1 of the Employees Provident Fund from 60% to 70% effective from Jan 1, 2007. From May 11 this year, the ratio for Account 1 — which cannot be touched until retirement — rises to 7...

Cover Story: Managing the impact of a smaller ratio for EPF Wellbeing Account 2

Embattled Chinese property developer Country Garden said it was unable to pay two onshore coupons due on Thursday, but China Bond Insurance Co would do so on its behalf if it missed paying within a grace period that ends next week.

China's Country Garden aims to pay missed coupons by next week

MEMBERS’ ability to decide not to transfer existing Employees Provident Fund (EPF) savings into the newly created Flexible Account 3 for anytime withdrawals is seen as the saving grace to what critics deem as a short-sighted compromise that will prove to have longer-term consequences.

I...

Cover Story: Who pays for anytime EPF withdrawals?

Roughly one in 37 homes are now considered seriously underwater in the US and that share is much higher across a swath of southern states, according to data out Thursda

‘Seriously underwater’ home mortgages tick up across the US

China's exports and imports returned to growth in April after contracting in the previous month, customs data showed on Thursday, signalling an encouraging improvement in demand at home and overseas in a boost to a shaky economic recovery.

China's exports and imports return to growth, signalling demand recovery

The Philippine economy accelerated less than expected in the first quarter as weaker consumer spending restrained growth, reinforcing expectations that the central bank will leave interest rates unchanged next week, despite rising inflation.

Weak demand restrains Philippine 1Q growth, rates likely on hold

Police in Vietnam have arrested a senior official involved in talks with international organisations on labour reforms, state media said on Thursday, adding that the action was linked to disclosure of classified information.

Vietnam arrests official engaged in UN talks on labour reform

KUALA LUMPUR (May 9): Volkswagen Group Malaysia (VGM) plans to designate Malaysia as an export hub for the Volkswagen brand, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz on Thursday.

Volkswagen to establish Malaysia as export hub — Tengku Zafrul

Shares in Sarawak Cable Bhd (KL:SCABLE) fell to their lowest in five months in early trade on Thursday after the loss-making cable manufacturer's agreement with its white knight UK-based Serendib Capital Ltd fell through.

Sarawak Cable shares fall to five-month low after losing its white knight

The Competition Act 2010 prohibits anti-competitive agreements between businesses that could prevent, restrict, or distort competition in any market for goods or services. This includes anti-competitive agreements related to price fixing, market sharing, bid rigging and attempts to restrict or co...

My Say: Competition laws do more than you think

Shares of VSTECS Bhd (KL:VSTECS) climbed to a new all-time high on Thursday as investors scrambled for a piece of the company that has been appointed the country’s first distributor of Amazon Web Services (AWS).

VSTECS shares hit new record high on Amazon Web Services partnership

All eyes will be on Bank Negara Malaysia (BNM) as the central bank is set to announce its overnight policy rate (OPR) decision later on Thursday afternoon.

Economists bet on BNM leaving the OPR unchanged later today

Gen Zers risk starting further and further behind previous generations building a life for themselves as soaring rents chew into their disposable income, leaving them deeper in a financial hole they are still digging, said Fortune.

Gen Z sinking deeper into debt as higher education and housing costs weigh, new data shows — report

UOB KayHian has initiated coverage on Lagenda Properties Bhd (KL: LAGENDA) with a “buy” rating at RM1.49 and target price (TP) of RM2.05.

UOB KayHian starts coverage on Lagenda Properties, target price RM2.05

Shares of Kerjaya Prospek Group Bhd (KL:KERJAYA) surged to a new record high on Thursday, as investors bet on better earnings growth for its upcoming financial results for the first quarter ended March 31, 2024 (1QFY2024).

Kerjaya Prospek shares at fresh record high on expectation of better 1Q earnings

Asian shares steadied on Thursday after solid Chinese trade data added to signs domestic demand in the world's second-largest economy is picking up, while the yen stabilised after three days of declines as Japan talked up potential currency interventions.

Asia shares steady after solid China trade data, yen stable after recent falls

PUTRAJAYA (May 9): The Federal Court on Thursday granted permission for National Feedlot Corporation Sdn Bhd (NFCorp) and four others including its chairman Datuk Seri Mohamad Salleh Ismail to have the merits of their appeal on damages against Public Bank Bhd to be heard.

Apex court grants permission to hear quantum of damages to NFCorp’s appeal and Public Bank’s liability cross-appeal

Apex Securities Bhd expects the local bourse to continue to trend sideways following the FBM KLCI’s retreat after hitting the 1,600 resistance level amid weakened sentiment across global stock markets and investors awaiting fresh catalysts.

Apex Securities expects local bourse to continue to trend sideways 

Malaysia’s largest telecom company by revenue Axiata Group Bhd (KL:AXIATA) may face earnings pressure from a potential merger of its unit PT XL Axiata with PT Smartfren Telecom in Indonesia, and investors should sell the stock, said MIDF Amanah Investment Bank.

MIDF says Axiata may face earnings pressure ahead, downgrades stock to 'sell'

(May 9): Opulent, elevated, expensive. There are plenty of descriptive terms for the A$90 million (US$59 million or RM280.88 million) home perched high in Crown Resorts Ltd’s twisting skyscraper in Sydney. “Sold” is not one of them.

The chrome-heavy duplex has been on the market since a...

Luxury US$59m Sydney home remains unsold as rich Chinese buyers leave

The Dow Jones Industrial Average ended higher on Wednesday, stretching its winning streak to six straight and closing above 39,000 points for the first time in five weeks, as investors kept betting on supportive US monetary policy.

Dow ends higher for sixth session, but Treasury yields pressure market

LBS Bina Group Bhd (KL: LBS) has launched SkyRia, the latest addition to its D'Island Residence project in Puchong.

LBS Bina launches RM457 mil SkyRia residential project in Puchong

Shares in Sarawak Cable Bhd (KL:SCABLE) fell to their lowest in five months in early trade on Thursday after the loss-making cable manufacturer's agreement with its white knight UK-based Serendib Capital Ltd fell through.

Arm Holdings plc shares tumbled after the chip designer gave a lukewarm revenue forecast for the fiscal year, raising concerns that the tech industry’s artificial intelligence (AI) spending spree is slowing.

Arm shares fall after company gives tepid annual forecast

Asia-Pacific Islamic banks can expect steady expansion and broadly stable asset quality for the next few years, at least, according to S&amp;P Global Ratings.

S&P: Malaysia will remain biggest Islamic banking market in Asia-Pacific

A Wall Street analyst has pointed out there's a gaping hole in the picture. He calls it "phantom debt" — spending on "buy now, pay later" (BNPL) platforms, which often goes unrecorded by credit agencies, Fortune reported.

‘Phantom debt’ from ‘buy now, pay later’ schemes a US$700b black hole economists aren’t accounting for — report

Malaysia’s wholesale and retail sales grew 5.2% in March from a year earlier, thanks largely to higher retail sales in non-specialised stores and other specialised wholesale, official data on Thursday showed.

Malaysia’s wholesale, retail sales climb 5.2% in March, official data show

Singapore must be realistic about the global trends affecting its equities market and what can be done about them, according to Deputy Prime Minister Lawrence Wong.

Singapore must recognise stock-market challenges, Wong says

Volkswagen Group Malaysia (VGM) plans to designate Malaysia as an export hub for the Volkswagen brand, said Investment, Trade and Industry Minister (Miti) Tengku Datuk Seri Zafrul Abdul Aziz.

Jomo Kwame Sundaram

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Jomo Kwame Sundaram

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