The European Union said it would respond with "firm and proportionate countermeasures" after US President Donald Trump's decision to impose tariffs on all steel and aluminium imports, escalating fears of a trade war.

EU readies response as Trump hikes steel and aluminium tariffs

Banking

POSITIVE

MAYBANK IB RESEARCH (March 4): Banks ended 2024 on a decent note, with all banks under our coverage meeting expectations and AMMB Holdings Bhd (KL:AMBAN...

Brokers Digest: Local Equities - Banking, KPJ Healthcare Bhd, Guan Chong Bhd, Malakoff Corp Bhd

Indonesian shares plunged about 7% to a 3-1/2-year low on Tuesday as worries over tit-for-tat tariffs, the country's fiscal plans and growth outlook hit sentiment ahead of Bank Indonesia's monetary policy decision.

Indonesian stocks plunge 7% as growth, fiscal worries weigh 

Grab Holdings Ltd is moving forward with its attempt to take over GoTo Group, according to people familiar with the matter, who said the Singaporean ride and delivery firm has begun due diligence on its Indonesian rival.

Grab said to move forward with talks to acquire rival GoTo

Notable filings

From Feb 24 to 28, notable shareholding changes at Bursa Malaysia-listed companies included those at Asia Poly Holdings Bhd (KL:ASIAPLY). The manufacturer of cast acrylic sheets announced in a bourse filing on Feb 25 that Southern Realty Resource Sdn B...

Insider Moves: Asia Poly Holdings Bhd, Central Global Bhd, Maxim Global Bhd, Paragon Globe Bhd, EG Industries Bhd   

THE local offshore support vessel (OSV) sector may experience a shortage of vessels in the coming years owing to insufficient new builds and an ageing fleet, says a recent industry report. At the same time, industry players attribute the lack of long-term contracts as a major factor discouraging ...

OSV sector may face shortage amid ageing fleet

Israeli air strikes in Gaza killed at least 200 people, Palestinian health authorities said, as attacks hit dozens of targets early on Tuesday, ending a weeks-long standoff over extending the ceasefire that halted fighting in January.

Israel strikes in Gaza kill at least 200, Palestinian health authorities say

In 2009, for the first time in human history, the global urban population surpassed the rural population. Malaysia followed a similar trajectory at an accelerated pace. At independence in 1957, only 23.4% of Malaysians lived in urban areas. By 1990, Malaysia had become an urban-majority country a...

My Say: Affordable food: When markets and money decide what we eat

A growing share of US consumers say they’re not seeking loans because they expect to be refused amid tight credit conditions, according to data from the Federal Reserve Bank of New York.

Americans see growing risk they’ll get turned down for loans

S&P Global Ratings cut its credit grade on Solera further into junk, as the Vista Equity Partners-backed software company struggles with a high debt load and negative cash flow.

S&P cuts Vista-backed Solera’s credit rating further into junk

Oil prices rose slightly on Tuesday, supported by instability in the Middle East as well as China's stimulus plans and data, although global growth concerns, US tariffs and Russia-Ukraine ceasefire talks curbed gains.

Oil gains on Mideast risks, China stimulus plan and data

Indonesian shares plunged about 7% to a 3-1/2-year low on Tuesday as worries over tit-for-tat tariffs, the country's fiscal plans and growth outlook hit sentiment ahead of Bank Indonesia's monetary policy decision.

Volkswagen's Audi will cut up to 7,500 jobs in Germany by 2029 in areas like administration and development, the premium carmaker said on Monday, the latest German auto industry player to reduce costs.

Volkswagen's Audi to cut 7,500 jobs in administration, development by 2029

The bank at the centre of Vietnam's biggest financial fraud has received a central bank bailout amounting 5% of the nation's 2024 economic output, which a local white knight hopes to repay in 15 years, documents seen by Reuters show.

Vietnam developer proposes 15-year rescue for bank at heart of giant fraud, documents show

Home-grown electronics firm Creative Technology has retrenched about 40 staff, or 14% of its workforce, as the tech layoff wave continues its rampage, The Straits Times has learnt.

Creative Technology cuts workforce, adding to global wave of tech layoffs — report

With decades of governance experience across various levels, Gobind Singh Deo steps into his new role as national chairman of the Democratic Action Party (DAP) at a pivotal time in Malaysia’s political landscape.

Gobind takes helm of DAP, carrying forward father’s legacy

US Commerce department bureaus informed staffers in recent weeks that Chinese artificial intelligence model DeepSeek is banned on their government devices, according to a message seen by Reuters and two people familiar with the matter.

US Commerce department bureaus ban China's DeepSeek on govt devices — Reuters

Hong Kong shares rose to three-year highs and led Asian markets higher on Tuesday, as investors turn positive on the outlook for the world's second-biggest economy and cheered recent data and promises to further support consumption.

Hong Kong stocks and kiwi rise on China outlook

US President Donald Trump said he would look to counter China’s economic advantage from coal-based electricity by authorising his administration to ramp up production of energy from the fossil fuel.

Trump says he’s authorising administration to produce coal power

A trade war sparked by US President Donald Trump's tariffs may drive up global inflation, stoke market volatility and slow economic growth, the CEOs of two top Australian banks said on Tuesday, but added Australia was insulated from the disruption.

Australian bank CEOs say Trump 'tariff madness' may drive up global inflation

Israeli air strikes in Gaza killed at least 200 people, Palestinian health authorities said, as attacks hit dozens of targets early on Tuesday, ending a weeks-long standoff over extending the ceasefire that halted fighting in January.

US President Donald Trump nominated Federal Reserve governor Michelle Bowman to the central bank's top regulatory post as vice-chair for supervision where she is expected to oversee an agenda of relaxed rule-writing and bank oversight.

Trump nominates US Fed governor Bowman as vice-chair for supervision

China hasn’t imported liquefied natural gas from the US for 40 days, the longest gap in almost two years, as traders are forced to divert shipments elsewhere to avoid Beijing’s tariffs on the super-chilled fuel.

China halts US LNG imports as trade war reroutes deliveries

President Donald Trump said Chinese leader Xi Jinping would visit Washington soon, as trade tensions build between the world’s two largest economies.

Trump says Xi will visit Washington in ‘not too distant future’

Gold prices scaled a record peak above the crucial US$3,000-mark on Tuesday for the second time within a week, as investors sought cover from economic concerns fuelled by US President Donald Trump's tariff policies.

Gold hits record high as tariff uncertainty fuels safe-haven demand

Britain's Labour government will announce plans on Tuesday to cut the amount spent on supporting people with disabilities and long-term health conditions, seeking to tame a sharply rising welfare bill despite unrest among some of the party's lawmakers.

UK to cut welfare payments in bid to address spiralling costs

Google-parent Alphabet is in advanced negotiations to buy Israeli cybersecurity company Wiz with an offer of more than US$30 billion (RM133.3 billion), according to a source familiar with the matter, marking its largest potential acquisition to date.

Alphabet back in talks to buy Israel's Wiz for over US$30b — Reuters

A growing share of US consumers say they’re not seeking loans because they expect to be refused amid tight credit conditions, according to data from the Federal Reserve Bank of New York.

The recording of former prime minister Datuk Seri Ismail Sabri Yaakob’s statement at the Malaysian Anti-Corruption Commission (MACC) headquarters over allegations of corruption and money laundering has been postponed to Wednesday.

MACC's questioning of Ismail Sabri postponed to tomorrow

2024 was a good year for Malaysia’s economy. The World Bank raised its growth forecast to 4.9%, a solid 14% jump from earlier projections. Growth surged beyond expectations, inflation remained moderate and investments boomed.

Unlocking new growth drivers: Services, subnational, sustainability

SmartBiz became the first financial-technology firm to receive regulatory approval to be a bank since President Donald Trump took office in January, a regulatory signal that other fintechs could also get the green light to cement their footholds in the financial-services industry.

Steve Holland & Philip Blenkinsop

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