Khazanah Nasional has selected Touch ‘n Go eWallet, Boost and GrabPay to participate in the government’s e-wallet initiative e-Tunai Rakyat. Meanwhile, Brahim’s Holdings has maybe found its white knight. </div><div class=inPageAd id=div-gpt-ad-inpage>

EVENING 5: TNG, Boost & Grab selected for e-Tunai Rakyat

Norway’s central bank held borrowing costs steady for an eighth month, and shed little light on when easing might begin, given risks to the inflation outlook from a weaker krone.

Norges Bank kept the key deposit rate at 4.5%, the highest since December 2008, as predicted by all economists surveyed by Bloomberg. Weighing the risks, policymakers were “particularly concerned with developments in the krone exchange rate and the potential implications for inflation”, adding that “the krone has depreciated and is weaker than assumed”.

Norway holds rate at 4.5% as weak krone worries officials

Britain's economy recorded a second quarter of strong growth as it recovered from last year's shallow recession but it lost momentum as it entered the second half of 2024, suggesting the Bank of England remains on course to cut interest rates again.

UK economy grows strongly in 2Q but slowdown seen ahead

Iron ore hit the lowest level since 2022 on concern that global supply is running ahead of demand, with China’s steelmakers mired in a crisis and cutting output just as major miners boost exports.

Iron ore hits lowest since 2022 as steel crisis rattles market

Titijaya Land Bhd (KL:TITIJAYA) inked a Memorandum of Understanding (MOU) with Bank Islam Malaysia Bhd (KL:BIMB) to provide financing solution to homebuyers that are purchasing Titijaya’s projects in its 46-acre Damaisuria development in Bukit Subang, Selangor.

According to a press statement on Thursday, the financing solution will provide Skim Jaminan Kredit Perumahan — Madani to first-time homebuyers.

Titijaya inks MOU with Bank Islam to assist homebuyers, unveils 264 @ Seiring in Damaisuria development

Two US lawmakers want the Biden administration to probe China's TP-Link Technology Co and its affiliates for potential national security risks from their widely used WiFi routers over fears they could be used in cyberattacks against the US

US lawmakers urge probe of WiFi router maker TP-Link over fears of Chinese cyberattacks

A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI closes flat at 1,612.94 on Aug 15, 2024

A 5.7 magnitude earthquake struck off Taiwan's northeastern county of Yilan on Thursday, the island's central weather administration said, with no immediate reports of damage.

Northeastern Taiwan hit by 5.7 magnitude quake, no immediate reports of damage

SEPANG (Aug 15): A married couple and four other individuals were charged in the Sessions Court here on Thursday with the kidnapping of a Chinese national for a ransom of USDT1 million (RM4.44 million) in cryptocurrency last month.

Six charged with kidnapping for RM4.44m cryptocurrency ransom

CK Hutchison Holdings Ltd has vowed to explore more deals with long-term value to navigate increasing geopolitical and financial market risks, as the Hong Kong conglomerate reported slumping profit for the first half of the year.

CK Hutchison seeks more deals amid global risks, profit drop

China’s home-price downturn abated in July, a sign that the government’s most forceful effort to revive the market is beginning to take hold.

New-home prices in 70 cities, excluding state-subsidised housing, fell 0.65% from July, narrowing from a 0.67% decline a month earlier, according to the National Bureau of Statistics on Thursday. Values of existing homes dropped 0.8%, compared with a 0.85% slide a month earlier.

China’s home price slump eases after govt rescue efforts

Convenience store chain operator 99 Speed Mart Retail Holdings Bhd launched Malaysia’s biggest initial public offering (IPO) in seven years, which would raise up to RM2.36 billion for its Main Market listing.

99 Speed Mart launches Malaysia's biggest IPO in seven years to raise RM2.36b

KUALA LUMPUR (Aug 15): Property stocks fell on heavy trading in the morning session on Thursday.&nbsp;

Negative news triggers broad selling of property stocks after recent surge in prices

Singaporean state-owned investor Temasek Holdings Pte Ltd spent billions of dollars in the second quarter buying shares in US technology giants, just before the sector dropped in July.

Temasek increased the value of its holdings in 11 big tech firms by US$3.3 billion (RM14.64 billion) in the three months ended June 30, according to an analysis of its two most recent 13F filings. The vast bulk of the increase — some US$3.2 billion — went into six of those firms: Microsoft Corp, Apple Inc, Nvidia Corp, Alphabet Inc, Meta Platforms Inc&nbsp;and Amazon.com Inc.

Temasek spent billions on US tech stocks before July sell-off

99 Speed Mart Retail Holdings Bhd, en route to the Main Market, said on Thursday there is still room to grow its number of outlets, especially in northern and eastern regions of Peninsular Malaysia, as well as in Sabah and Sarawak.

99 Speed Mart sees more room to expand outlet network

The Armed Forces Fund&nbsp;Board (LTAT) has&nbsp;appointed Haizad Rizal A Aziz&nbsp;as its new chief financial officer (CFO), effective from Aug 15.

Most recently, Haizad Rizal held the position of CFO at Retirement Fund Inc&nbsp;(KWAP), according to a statement on Thursday.

LTAT appoints Haizad Rizal as CFO

The daughter of former Thai leader Thaksin Shinawatra is now the favourite to become the Southeast Asian nation’s next prime minister, a move that would signal continuity after another party member was ousted from the top job on Wednesday.

Thaksin’s daughter backed by lawmakers to be next Thai PM

The ouster of Thailand’s leader less than 12 months after taking office makes one thing clear: The royalist establishment that has engineered long stretches of military-backed rule over the past two decades still holds all the power.

Thai political upheaval shows royalists are still in charge

KUALA LUMPUR (Aug 15): Malaysia has started investigating imports of some tin products from China, India, Japan and South Korea, following a complaint, the Ministry of Investment, Trade and Industry (Miti) said on Thursday.

Miti starts anti-dumping investigation into tin products imports from four countries

Stock markets around the world were on firmer ground on Thursday, continuing to recover from an early August rout, on optimism that the US Federal Reserve would start to cut interest rates soon.

Stocks creep up, investors pin hopes on modest US Fed rate cut

Shares in Frontken Corp Bhd (KL:FRONTKN) extended their decline on Thursday, as investors reacted poorly to the semiconductor support services company’s weaker-than-expected&nbsp;results for the second quarter ended June 30, 2024 (2QFY2024).

Frontken shares extend decline as investors cut positions after weak 2Q, analysts still optimistic

The Royal Malaysian Police has taken disciplinary action against a security escort personnel&nbsp;accused of assaulting a disabled e-hailing driver at a hotel in the capital on May 28.

Inspector General of Police Tan Sri Razarudin Husain said internal action against the officer was taken by the Department of Integrity and Standards Compliance at Bukit Aman.

Disciplinary action taken against officer who allegedly assaulted disabled driver, says IGP

New York-based hybrid cloud and artificial intelligence (AI) provider International Business Machines Corp (IBM) sees strong growth potential in Malaysia, pointing to a recent surge in tech investors and new data centres.

IBM sees strong growth potential in Malaysia's tech sector

RHB Research&nbsp;expects&nbsp;Kelington Group&nbsp;Bhd&nbsp;(KL:KGB) to deliver another quarter of strong earnings, on the back of a solid order book.

“We expect the strong year-on-year/quarter-on-quarter growth in revenue and core earnings to continue, supported by a solid RM1.3 billion order book (as of end-March) and favourable product mix”, RHB said in a note on Thursday. KGB is slated to announce its results for the second quarter ended June 30, 2024 (2QFY2024) on Aug 21.

Kelington to deliver another strong quarter on solid order book, says RHB

Genting Singapore has posted earnings of S$357 million (RM billion) for the first half ended June 30, 2024 (1HFY2024), up 29% from the same period last year.

Genting Singapore’s 1H earnings up 29% to S$357m

Guan Chong Bhd’s (KL:GCB) earnings for the second quarter ended June 30, 2024 (2QFY2024) are anticipated to be resilient and facilitate a record-breaking year, driven by increasing average selling prices (ASPs), higher revenue, and favourable hedging positions, said RHB Research.

Resilient 2Q earnings, record-breaking year expected for Guan Chong — RHB

Former Boustead Naval Shipyard Sdn Bhd (BNS) managing director Tan Sri Ahmad Ramli Md Nor has been directed by the Sessions Court on Thursday to undergo psychiatric evaluation at the Kuala Lumpur Hospital (HKL) to see whether the 80-year-old is fit to undergo trial.

Former navy chief instructed to undergo psychiatric evaluation at HKL

Stocks rose after an in-line US inflation report did little to alter bets the Federal Reserve (Fed)&nbsp;will start cutting rates in September.

The S&amp;P 500 extended its advance into a fifth straight day, the longest winning streak in more than month, on Wednesday. Most of its major groups gained, with financial, energy and tech shares leading the charge. In late trading, Cisco Systems Inc climbed on a solid revenue forecast. Treasuries saw small moves. The dollar remained at a four-month low.

Stocks rise as CPI ‘checks the box’ for Fed cut

KUALA LUMPUR (Aug 15): Former Umno Youth executive council member Wan Muhammad Azri Wan Deris told the High Court on Thursday that he is neither a blogger, nor the infamous online personality known as “Papagomo”.

Wan Azri: ‘I’m not a blogger, I’m not Papagomo’

European aerospace giant Airbus is negotiating a sale of its narrow-body airplanes — A320 and A321neo — to Malaysia’s flag carrier Malaysia Airlines Bhd, says Airbus executive vice-president (International) Wouter van Wersch.

Airbus in talks to sell narrow-body jets to Malaysia Airlines, says VP

Former SRC International Sdn Bhd chairman Tan Sri Ismee Ismail agreed with lawyer Tan Sri Muhammad Shafee Abdullah that the RM4 billion Retirement Fund Inc (KWAP) loans, which SRC had procured, had been disbursed before amendments to the company’s constitution&nbsp;which gave&nbsp;former prime minister Datuk Seri Najib Razak advisory powers to the board were made.