Corporate Malaysia handed in a largely disappointing first quarter earnings report card, which reflected general weakness in the economy, dragged by slowing external demand, with little help seen from the much-anticipated reopening of China.

More companies reported earnings that were below expectations in the January to March period of this year compared with the previous quarter, while there were fewer companies that managed to surprise with better-than-expected results, said Fortress Capital Asset Management chief executive officer Thomas Yong

Malaysia's corporate profits disappoint on slowing demand, with little help from China reopening

Iskandar Investment Bhd (IIB) has recorded US$6.8 billion worth of investments since its incorporation in 2006 until last year, Johor Menteri Besar Datuk Onn Hafiz Ghazi said.

He said, in fact IIB, which is an investment holding company to catalyse the strategic development of Iskandar Malaysia, had created 10,000 job opportunities during that period.

Iskandar Investment records US$6.8 bil worth of investments since 2006 — Onn Hafiz

Stocks rose, with investors in a more optimistic mood after the House passed a deal to avert a US default and Federal Reserve officials hinted at a pause in interest-rate hikes.

Miners and media companies led gains as European equities looked to snap three days of declines. The advance echoed a move higher in Asian stocks, where markets got an initial boost from some encouraging economic data out of China.

Stocks rise on debt-deal optimism, Fed pause talk

US manufacturing contracted for a seventh straight month in May as new orders continued to plummet amid higher interest rates, but factories boosted employment to a nine-month high.

US manufacturing slumps further in May while employment picks up — ISM

Employment growth at US companies last month exceeded all projections, highlighting a durable labour market that continues to buttress the economy.

Hiring at US companies in May tops all forecasts, ADP data show

The number of Americans filing new claims for unemployment benefits increased modestly last week, suggesting the labour market remains tight despite growing fears of a recession amid higher borrowing costs.

US weekly jobless claims rise modestly; layoffs increase in May

US companies have announced more job cuts this year than during all of 2022, according to executive coaching firm Challenger, Gray & Christmas Inc.

Planned layoffs have quadrupled so far this year in the US

Swiss National Bank Chairman Thomas Jordan on Wednesday (May 31) defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the downfall of Credit Suisse.

SNB defends raising rates, says not to blame for Credit Suisse failure

Taiwanese shipping companies are handing out bumper mid-year bonuses, despite a slump in global cargo, as the industry continues to benefit from earlier pandemic gains.

Yang Ming Marine Transport Corp is awarding workers up to 30 months of salary on their next payday after shareholders approved the NT$2.3 billion (US$75 million or RM344.94 million) bonus last Friday, according to an Economic Daily News report on Thursday (June 1). That’s in addition to a year-end bonus worth 12 months of salary paid at the beginning of this year.

Taiwan's shipping firms set to hand out bumper bonuses again

Deputy Prime Minister Datuk Seri Fadillah Yusof said Malaysia is keen and will reconsider the trade deal with the European Union (EU) which was halted in 2012, provided it gives fair treatment for the country’s palm oil industry.

DPM Fadillah denies halt in Malaysia, Indonesia's EU trade talks over palm oil

Euro zone inflation remains too high, so further European Central Bank policy tightening is necessary, even if there is a growing body of evidence that past rate hikes are staring to work, ECB President Christine Lagarde said on Thursday (June 1).

ECB still has ground to cover but policy is working, says Lagarde

Sluggish global demand deepened the decline in manufacturing activity across Europe and remained a major challenge for many of Asia's big exporters, business surveys for May showed on Thursday (June 1).

Global factories struggle for momentum amid patchy demand

MILAN (June 1): Italy's Eni is investing in farming in several African and Asian countries, as it aims to produce by itself around one fifth of the agricultural feedstock it will need for its biofuel business by 2025, two top executives at the energy group said.

Eni bets on agri-business in Africa to expand biofuel production

Business conditions for firms in the manufacturing sector have moderated to the greatest extent since January, with the S&P Global Malaysia Manufacturing Purchasing Manager’s Index (PMI) posting 47.8 points in May.

Business conditions moderated to greatest extent since Jan; PMI dipped to  47.8 in May 

Elon Musk knocks Bernard Arnault off the perch to reclaim top spot

Kenanga Research projects  CY23F FBM KLCI earnings to contract by 1.2%

Australia raises minimum wage by 5.75% as living costs surge

HLIB Research says Velesto's valuations have become inflated

Elon Musk is accused of insider trading by investors in Dogecoin lawsuit

Russia accuses US intelligence of hacking thousands of iPhones

Apple plans major retail push with new stores across China, US

Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

Global equities rise, U.S. yields fall after debt ceiling bill advances

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

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