Malaysia’s manufacturing sector experienced muted trends at the end of 2024, as indicated by a decline in the Purchasing Managers’ Index (PMI) to 48.6 in December, according to S&P Global on Thursday.

Malaysia’s manufacturing PMI declines amid softening inflation, reduced demand — S&P Global

Singapore's economy grew 4.0% in 2024, accelerating from 1.1% growth in 2023, preliminary government data showed on Thursday.

Singapore economy grew 4.0% in 2024, advance estimate shows

The European Central Bank’s 2% inflation target is in sight, according to president Christine Lagarde.

ECB hopes to hit 2% inflation target in 2025, Lagarde says

Russia stopped sending gas to Europe via Ukraine, shutting off a route that’s operated for five decades after Kyiv refused to allow any transit that funds Moscow’s war machine.

Russia and Ukraine end five decades of gas transit to Europe

The government is considering importing white rice from Pakistan to address ongoing issues with supply and pricing.

National Action Council on Cost of Living (Naccol) Task Force (Food Cluster) chairman Datuk Syed Abu Hussin Hafiz Syed Abdul Fasal said the proposal, submitted to Padiberas Nasional Bhd (Bernas), has the consent of Prime Minister Datuk Seri Anwar Ibrahim, but has yet to be finalised.

Govt mulls rice imports from Pakistan to stabilise supply, prices

Indonesia scaled back its planned increase in the value-added tax (VAT) rate just hours before it was set to take effect on Jan 1 amid escalating public outcry. 

The VAT rate will be increased to 12% only for goods and services that are already subject to the existing luxury tax, such as private jets, yachts and pricier houses, President Prabowo Subianto said in a speech on Tuesday after unexpectedly attending the year-end meeting of the Finance Ministry.

Indonesia waters down planned value-added tax hike in last-minute move

Abu Dhabi's Mubadala Investment Company accounted for about 20% of the almost US$136.1 billion (RM608.8 billion) spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia's wealth fund amid a surge in spending from Gulf countries.

Abu Dhabi's Mubadala overtakes Saudi Arabia's PIF as world's top wealth fund spender

Investors are expecting more gains for the US stock market in 2025 after two straight standout years, fuelled by a solid economy supporting corporate profits, moderating interest rates and pro-growth policies from incoming President Donald Trump.

Investors hope for US stock market trifecta in 2025 after back-to-back boom years

While bitcoin’s surge above US$100,000 (RM447,300) captivated the headlines in 2024, many financial firms were more focused this year on a different type of cryptocurrency whose price is never meant to rise — or fall for that matter.

Crypto’s US$205b stablecoin market set to go mainstream

The Malaysian Sustainable Palm Oil Standard MS2530:2022 (MSPO 2.0) officially comes into effect on Wednesday, introducing stricter guidelines for sustainability, traceability, and ethical practices in palm oil production.

Malaysia implements MSPO 2.0 to boost sustainable palm oil standards

Wars in Europe and the Middle East. Global political upheaval. Angst over a potential US recession. These and other pitfalls stalked markets in 2024, but in the end investors who embraced risk reaped the rewards.

How US$10,000 fared in 2024 across a range of standout investments

China’s services activity expanded at the fastest pace in nine months while the manufacturing sector grew for a third straight month, signalling improving domestic demand after Beijing’s stimulus blitz.

China’s services activity jumps as stimulus lifts local demand

Treasuries are poised to eke out only a minuscule return in 2024, disappointing bond traders who once anticipated a banner year as the Federal Reserve (Fed) started pulling interest rates down from a more than two-decade high.

Treasuries see hoped-for rally fizzle into another lagging year

Bitcoin more than doubled in 2024 driven by the US markets regulator's approval for exchange-traded funds tied to its spot price, and optimism over easing regulatory hurdles with Donald Trump set to return to the White House.

Bitcoin more than doubles in 2024 on spot ETF approval, Trump euphoria

Foong Mun Kong has officially assumed the role of managing partner at KPMG Malaysia, effective Jan 1, 2025, according to a statement on Thursday.

Foong Mun Kong officially KPMG Malaysia managing partner, Johan Idris takes on non-exec chairman role

Casino revenues in Macau, the world's biggest gambling hub, soared by nearly a quarter in 2024 but still came in short of pre-pandemic levels, underlining the need for the former Portuguese colony to diversify its economy.

Macau 2024 casino revenues top official estimate but below pre-pandemic levels

The communications minister will formally end the single wholesale 5G network, based on the powers under the Communications and Multimedia Act 1998, according to a new ministerial directive sighted by The Edge.

Communications minister formally ends 5G single wholesale network, to focus on dual network

Asian stocks were primed to begin the New Year on a sour note after an inauspicious end to an otherwise stellar 2024 for global equity investors.

Asia kicks off New Year after ominous end to 2024

A Tesla Cybertruck exploded in flames outside the Trump Hotel Las Vegas on Wednesday, killing one person and injuring at least seven others, officials said, and the FBI said it was joining the investigation.

Tesla Cybertruck explodes outside Trump Las Vegas hotel, killing one

Hutchmed (China), controlled by tycoon Li Ka-shing, is selling stakes in its health subsidiary for around US$608 million (RM2.7 billion) as the billionaire and his flagship conglomerate look to ramp up capital and pivot towards core operations at the drugmaker.

Billionaire Li Ka-shing’s Hutchmed in US$608m health unit stake sales

At least 10 people were killed and more than 30 injured after a pickup truck barrelled through the French Quarter in New Orleans in what authorities are describing as a deliberate act of violence during New Year’s celebrations.

Truck plows through New Orleans crowd, suspect identified

A Tesla Cybertruck exploded in flames outside the Trump Hotel Las Vegas on Wednesday, killing one person and injuring at least seven others, officials said, and the FBI said it was joining the investigation.

The communications minister will formally end the single wholesale 5G network, based on the powers under the Communications and Multimedia Act 1998, according to a new ministerial directive sighted by The Edge.

At the beginning of the year, some industry observers speculated that ESG topics might take a back seat to political drama and geopolitical conflicts that are still ongoing in certain parts of the world.

They were right in many ways. More recently, the re-election of Donald Trump as US ...

Cover Story: ESG at yet another crossroads

Asian stocks were primed to begin the New Year on a sour note after an inauspicious end to an otherwise stellar 2024 for global equity investors.&nbsp;

Malaysia has found itself at the crossroads of economic progress and environmental sustainability with data centres. The industry brings in foreign direct investments while stimulating growth in construction, telecommunications and logistics. The data powerhouses also contribute to the digital tr...

Technology: Preparing for another year of data centres

Hutchmed (China), controlled by tycoon Li Ka-shing, is selling stakes in its health subsidiary for around US$608 million (RM2.7 billion) as the billionaire and his flagship conglomerate look to ramp up capital and pivot towards core operations at the drugmaker.

Minister of Economy Rafizi Ramli’s words, according to which Malaysia is set to adopt nuclear power generation as one of its energy sources in the coming years, are extremely welcome.

According to Rafizi, nuclear power is a cleaner energy source compared to others, which could help the ...

Views: A case for nuclear energy

At least 10 people were killed and more than 30 injured after a pickup truck barrelled through the French Quarter in New Orleans in what authorities are describing as a deliberate act of violence during New Year’s celebrations.

<div class="pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://myassets.theedgemalaysia.com/pics/2024/20241226221345_MESG48-TEM1556-IMG02-theedgemalaysia_20241226221344_theedgemalaysia.png"><img alt="" src="https://myassets.theedgemalaysia.com/pics/2024...

Year in review: Major ESG-related events in 2024

In Southeast Asia, conversations in the Business and Human Rights-Environmental, Social and Governance (BHR-ESG) space focus on encouraging companies to voluntarily adopt sustainability measures and subsequently report on their sustainability initiatives. While some progress has been made, it rem...

Views: How the EU Corporate Sustainability Due Diligence Directive will impact Malaysian businesses

Singapore's economy grew 4.0% in 2024, accelerating from 1.1% growth in 2023, preliminary government data showed on Thursday.

Minister of Economy Rafizi Ramli has been promoting a new bill on carbon capture, utilisation and storage (CCUS) since May. The ministry says its implementation is important to Malaysia’s decarbonisation efforts.

The CCUS bill, originally aimed to be tabled in November, will regulate th...

Technology: Is Malaysia ready for carbon capture and storage?

Malaysia’s manufacturing sector experienced muted trends at the end of 2024, as indicated by a decline in the Purchasing Managers’ Index (PMI) to 48.6 in December, according to S&amp;P Global on Thursday.

Global climate talks in Baku, Azerbaijan, earlier this month finished 33 hours late with mixed results. COP29, or the 29th Conference of Parties of the United Nations Framework Convention on Climate Change, went down to the wire to reach agreement on climate finance and other contentious issues.<...

Views: Mixed results at Global Climate Summit COP 29

Malaysia has a longstanding issue of ballooning amounts of plastic waste. Some parties argue that one of the ways to address this issue is to make polluters responsible, and this has given support to the concept of extended producer responsibility (EPR).

In fact, EPR is a key policy app...

Resources: Is Malaysia finally going towards a circular economy?

On Nov 14, the European Union (EU) reached an agreement to delay the European Union Deforestation Regulation (EUDR), and this decision has given developing countries more time to prepare for the regulation.

The regulation has been heavily criticised for the risk of excluding smallholder...

Regulations: EUDR has been delayed, what now?

Casino revenues in Macau, the world's biggest gambling hub, soared by nearly a quarter in 2024 but still came in short of pre-pandemic levels, underlining the need for the former Portuguese colony to diversify its economy.

With ESG, every year seems to bring new challenges and topics of discussion. For instance, the popularity of generative artificial intelligence (Gen AI) and the subsequent demand for data centres were hot-button issues globally this year. In Malaysia, many data centre projects were announced, leading to questions about their environmental impact and strain on natural resources.

Outlook: What to watch out for in 2025

Malaysia’s transition to becoming a developed and high-income nation has imposed pressure on its biodiversity.

Thankfully, the country has been ramping up its efforts in conservation and the sustainable management of its biodiversity. For instance, it aims for biodiversity conservation ...

Nature: Protecting Malaysia’s biodiversity at all costs

The perennial question in the world of climate finance has been how capital from the private sector can be channelled to forest conservation. In Malaysia, this is complicated by the fact that forests are under the purview of each state, which has its own priorities and strategies.

Howev...

Economy

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