This article first appeared in The Edge Financial Daily, on November 15, 2016.

 

KUALA LUMPUR: The global Islamic finance industry is expected to hit US$3.7 trillion (RM16.02 trillion) by the end-2020, said Tun Musa Hitam, chairman of the jury for The Ro...

‘Global Islamic finance to hit US$3.7 trillion by 2020’

This article first appeared in The Edge Financial Daily, on November 15, 2016.

 

KUALA LUMPUR: The ringgit stabilised at 4.33 against the US dollar yesterday following the sharp decline last Friday, but analysts remained bearish on its prospects amid con...

Ringgit stabilises but downward pressure remains

KUALA LUMPUR (Nov 14): The global Islamic finance industry is expected to hit US$3.7 trillion by the end of 2020, said Tun Musa Hitam, chairman of the jury for The Royal Award for Islamic Finance.

"There is always so much room for growth," the former deputy prime minister and former cha...

'Global Islamic finance to hit US$3.7 tril in 2020'

KUALA LUMPUR (Nov 10): Despite mounting concerns that Donald Trump's victory could lead to the renegotiation of trade deals involving Malaysia, United Overseas Bank (Malaysia) Bhd (UOB) maintained Malaysia's gross domestic product (GDP) forecast of 4.2% for this year and 4.7% for 2017.

...

UOB: Despite Trump victory, Malaysia to continue growing 4.2% this year

Strengthening online safety

Some Malaysian exporters of manufactured goods destined for the United States have temporarily halted shipments as they await clearer information on the financial implications of the newly imposed tariffs, which took effect on Wednesday.

Malaysian exporters halt US shipments amid tariff confusion

As Donald Trump’s sweeping “reciprocal” tariffs took effect just after midnight on Wednesday, the president was watching the bond market.

Long-term yields were soaring. The 10-year Treasury saw the biggest three-day jump since 2001. The president was confronting a worst-case scenario: voters who had returned him to the White House because of inflation now faced both increased prices and higher borrowing costs.

Bond chaos, deal mania and Jamie Dimon: Inside Trump’s tariff reversal

US stocks posted the best day since the financial crisis after President Donald Trump paused some reciprocal tariffs in a move that jolted the bond market and lifted Asian equity futures.

US stocks soar, bonds twist after tariff reprieve 

The wild ride on US stock markets took a dizzying turn Wednesday afternoon when President Donald Trump announced a pause on some of his harshest tariffs, propelling the S&P 500 Index to its biggest one-day gain since 2008.

Record US trading day fuels S&P 500’s best rally since 2008

US President Donald Trump said he would pause higher reciprocal tariffs on dozens of non-retaliating countries for 90 days, while raising duties on China to 125%.

Trump pauses higher duties on most nations, hikes China tariffs to 125%

Asean, which has faced a series of global uncertainties, has emerged from a quiet corner of the global economy to become central to it, said Prime Minister Datuk Seri Anwar Ibrahim.

From currency shocks to global contagion, Asean has seen it all, the prime minister said in his keynote address at the gala dinner in conjunction with Malaysia’s Asean chairmanship of the Finance Track here on Wednesday.

Asean emerges as a central player in global economy after overcoming series of adversities — Anwar

Spanish Prime Minister Pedro Sanchez’s trip to see President Xi Jinping will offer a chance to swap notes on a common problem: how to respond to an increasingly unreliable US.

Sanchez, who is due in Beijing on Friday, will be the first European leader to visit China since President Donald Trump slapped tariffs on most of the world. With agreements due to be signed in areas including pharmaceuticals, agricultural and medical products, Sanchez can argue that Spain is the go-to partner for China in Europe at a time of growing economic uncertainty.

Spain pushing for EU pivot to China to counter Trump tariffs

Spain will pursue closer trade ties with China in the interests of its citizens and of the EU, its agriculture minister Luis Planas said on Wednesday, rejecting a US warning that moving closer to the Asian country would be "cutting your own throat".

Spain defends closer trade ties with China after US warns against 'cutting own throat'

Agriculture Secretary Brooke Rollins said the administration is considering plans to offer assistance to farmers amid worries that the US-China trade war will have a disastrous effect on American agricultural producers.

US weighs farmer bailout as China retaliation threatens exports

US President Donald Trump said he would pause higher reciprocal tariffs on dozens of non-retaliating countries for 90 days, while raising duties on China to 125%.&nbsp;

KUALA LUMPUR (April 9): Here is a brief recap of some corporate announcements that made news on Wednesday;

AMMB Holdings Bhd's (KL:AMBANK) group chief financial officer Shafiq Abdul Jabbar is stepping down “to pursue other professional opportunities”. Industry sources say Shafiq ...

AMMB, KIP REIT, Khee San, Sapura Energy, Jati Tinggi, AWC, Hibiscus Petroleum, HHRG

Treasury Secretary Scott Bessent said he envisions reaching trade agreements with US allies that would then lay the ground for a collective approach toward Beijing to address what he described as China’s unbalanced trade structure.

Bessent sees a deal with allies, then group approach on China

Asean has received overwhelming support from the US-Asean Business Council (US-ABC) to convey key messages to Washington that its tariffs can severely impact businesses in Southeast Asia with the fallout inevitably jeopardising American trade and investments in the region.&nbsp;

US business council urged to tell Washington tariffs can jeopardise US business ops in Asean, says Amir Hamzah

When the 24% reciprocal tariff US President Trump imposed on Malaysia on April 9 takes effect, Malaysia would face the biggest economic threat since we transitioned from an agricultural and commodity exporting country to a manufacturing exporting country in the 1980s. The reciprocal tariff would bulldoze all the economic prosperity that Malaysia has generated since then, rendering us a hollowed industrial ecosystem with a high unemployment rate.

How Malaysia’s manufacturing industries can survive Trump’s reciprocal tariff

Wall Street's main indexes inched higher on Wednesday as investors lapped up cheaper technology stocks in a choppy session that remained centered on tariff moves as China retaliated with more levies on US goods.

Tech shares lift Wall Street amid escalating US-China tariff war

President Donald Trump urged Americans to remain calm and continue investing on Wednesday as his sweeping reciprocal tariffs hit, in an indication the White House was closely monitoring market reaction to the levies.

Trump says ‘be cool’ after tariffs, adds ‘great time to buy’ 

HHRG Bhd (KL:HHRG)&nbsp;on Wednesday announced that the Penang High Court has allowed an order sought by its 51%-owned MG Furniture Sdn Bhd to prohibit managing director Ch’ng Chen Mong, director Tan Poh Cheng and their son, production manager Ch'ng Boon Sin, from entering its premises, except to carry out statutory duties with prior notice.

HHRG’s 51%-owned unit MG Furniture secures order to prohibit MD and family members from entering premises

Perdana Petroleum Bhd (KL:PERDANA) has secured two contracts for the charter of anchor handling tug and supply vessels.

Perdana Petroleum lands three-year offshore vessel contracts

A former assistant officer of the Sarawak Welfare Department was on Wednesday sentenced to 468 years in prison and fined RM180 million, in default 36 months’ imprisonment, for money laundering and criminal breach of trust (CBT) involving over RM16 million.

Ex-Sarawak welfare officer sentenced to 468 years in prison for money laundering, criminal breach of trust

Food and beverage manufacturer Able Global Bhd (KL:ABLEGLOB), which has operations in Mexico, is looking to avail of the zero-tariff perk accorded under the United States-Mexico-Canada Agreement (USMCA) to mitigate rising trade barriers on exports to the United States.

Able Global Bhd seeks USMCA zero-tariff benefit to counter rising trade barriers on US exports

Spanish Prime Minister Pedro Sanchez’s trip to see President Xi Jinping will offer a chance to swap notes on a common problem: how to respond to an increasingly unreliable US.

Sanchez, who is due in Beijing on Friday, will be the first European leader to visit China since President Donald Trump slapped tariffs on most of the world. With agreements due to be signed in areas including pharmaceuticals, agricultural and medical products, Sanchez can argue that Spain is the go-to partner for China in Europe at a time of growing economic uncertainty.

Before he stepped down as Canadian prime minister, Justin Trudeau called Donald Trump’s tariff policies “very dumb”. This might be an accurate description of many Trump administration policies — but the more objectively correct word is “stupid”.

In fact, Québec’s largest newspaper, Le Journal de Montréal, published a front-page photo of Trump in early February with the word “stupid” in 350-point type. Some may call this an opinion, but the science of stupidity tells us that it’s more of a definition.

Trump’s policies are more than dumb — they’re stupid, according to stupidity researchers

The government is open to reviewing the appointment process for the chief commissioner of the Malaysian Anti-Corruption Commission (MACC), including the prime minister’s role in the decision-making process, according to news reports quoting Communications Minister Datuk Fahmi Fadzil.

Govt open to reviewing appointment process for MACC chief — reports

China's commerce ministry slapped restrictions on more than a dozen US defence firms on Wednesday after President Donald Trump made good on his threat to impose an additional 50% tariff on Chinese imports.

China slaps restrictions on 18 US firms over Trump tariffs

The European Union (EU) approved tariffs to hit around €21 billion (US$23.2 billion or RM104.4&nbsp;billion) of US goods in retaliation for the 25% duties President Donald Trump imposed last month on the bloc’s steel and aluminium exports.

EU adopts tariffs on €21 bil of US goods in metals fight

CK Hutchison Holdings Ltd rejected accusations it failed to pay about 1.2 billion balboas (US$1.2 billion or RM5.4 billion) to the Panamanian state over the concession contract to run the two key ports in the Central American country.

CK Hutchison rejects accusations over Panama Ports payments

Spain will pursue closer trade ties with China in the interests of its citizens and of the EU, its agriculture minister Luis Planas said on Wednesday, rejecting a US warning that moving closer to the Asian country would be "cutting your own throat".

Agriculture Secretary Brooke Rollins said the administration is considering plans to offer assistance to farmers amid worries that the US-China trade war will have a disastrous effect on American agricultural producers.

Wall Street's main indices were set to open sharply lower on Wednesday after China announced more levies on US goods, retaliating to President Donald Trump's reciprocal tariffs that took effect earlier in the day.

The world's second largest economy would impose additional tariffs of 84% on all US goods from April 10, up from the 34% previously announced, China's Finance Ministry said.

Samantha Ho & Yimie Yong