KUALA LUMPUR (Oct 21): The special fund of up to RM3 billion, to be allocated by government-linked investment companies (GLICs) to licensed fund managers for investments into small and mid-cap firms, will improve market transactions and banks’ non-interest income, said Ambank Group chairman Tan S...

AmBank: RM3b special fund for small, mid-cap investments will boost banks non-interest income

KUALA LUMPUR (Oct 21): Penang Institute, the Penang government’s think tank, said a balanced Budget is unlikely to be achieved in the foreseeable future due to the large civil service expenditure.

Budget 2017 has a total allocation of RM260.8 million, up 3.4% from the Recalibrated Budge...

Large civil servant outlay will hamper balancing of Budget, says Penang think tank

KUALA LUMPUR (Oct 21): An economist said the emphasis on expenditure allocations in Budget 2017 belied Prime Minister Datuk Seri Najib Razak’s dismissal of talks earlier that it would be an election budget.

“Although Najib dismissed talks of this being an election budget, the emphasis o...

Budget 2017: An election budget it is, says economist

KUALA LUMPUR (Oct 21): Franklin Templeton Investments said infrastructure development projects will benefit the economy and people (rakyat), if it is "targeted and transparently distributed".

Franklin Templeton Investments executive director and head Malaysia fixed income and sukuk, Han...

Franklin Templeton: Infrastructure development to benefit the economy & people if transparently distributed

Malaysia's Budget 2017: An election budget it is, says economist

KUALA LUMPUR (Oct 21): An opposition parliamentarian has accused the government of being over-optimistic about the economy in Budget 2017.

Liew Chin Tong , the DAP MP for Kluang, said the Budget did not address significant challenges that Malaysia is facing amid the global economic slow...

Opposition MPs say PM over-optimistic about the economy

KUALA LUMPUR (Oct 21): The establishment of the Collection Intelligence Arrangement (CIA) under the Ministry of Finance (MOF) is expected to decrease potential tax evasion by companies.

The setting up of the CIA, which consists of the Inland Revenue Board (IRB), Royal Malaysian Customs ...

Experts: Time’s up for tax evaders with the establishment of CIA

KUALA LUMPUR (Oct 21): The Federation of Malaysian Manufacturers (FMM) welcomes the incentives for the development of small and medium enterprises (SMEs) in Budget 2017, but expressed disappointment that more funds had not been allocated to the sector’s growth.

“FMM welcomes the numerou...

FMM: More funds should have been allocated to develop SMEs

KUALA LUMPUR: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) is concerned that there is only a 2.22% increase in the development expenditure in Budget 2017.

Its president Datuk Ter Leong Yap said there should have been a higher allocation for development e...

ACCCIM: Govt should have allocated more money for development

KUALA LUMPUR (Oct 21): Khazanah Nasional Bhd said Budget 2017 balances growth, fiscal stability and improving living standards for the Bottom 40 (B40) group of Malaysian households.

Khazanah managing director Tan Sri Azman Mokhtar said the fund is committed to deliver on the initiatives...

Khazanah: Budget 2017 balances growth, fiscal stability and better B40 living standards

KUALA LUMPUR (Oct 21): The Transport Ministry (MoT) is happy that its allocation has been increased by 13% in Budget 2017, said minister Datuk Seri Liow Tiong Lai.

The additional funds is mainly for development purposes, he told reporters while leaving Parliament after Budget 2017 was a...

Transport Ministry to buy more trains after getting bigger allocation

KUALA LUMPUR (Oct 21): The Master Builders Association Malaysia (MBAM) said the government should take note that the construction industry needs foreign workers to fill in the demand-supply gap for manpower in the industry.

Noting the infrastructure spending announced in Budget 2017 tod...

MBAM: Construction industry needs foreign workers

KUALA LUMPUR (Oct 21): The Real Estate And Housing Developers' Association Malaysia (REDHA) is calling on the government to extend the special step-up financing scheme of 90%-100% loan given to buyers of PR1MA homes in Budget 2017, to private developers too.

"In areas where PR1MA is not...

REDHA: Extend PR1MA 'step-up' financing scheme to private developers too

KUALA LUMPUR (Oct 21): Prime Minister Datuk Seri Najib Razak lambasted opposition Members of Parliament for staging a walkout during his presentation of Budget 2017 in Dewan Rakyat earlier today, saying they were a disgrace to Parliament.

“In developed countries, they can have different...

Najib: Opposition MPs' walkout a disgrace to Parliament

KUALA LUMPUR (Oct 18): The Malaysian Investment Development Authority (Mida) is on track to achieve its target of RM2.5 billion in investments from green investment leads at the International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2024.

Mida on track to achieve goal of RM2.5b green investments at IGEM 2024

Gold topped US$2,700 an ounce for the first time, as concerns over escalating conflicts in the Middle East saw investors flock to safety.

Spot gold extends its record-breaking run to top US$2,700

Shares of Heitech Padu Bhd (KL:HTPADU) were suspended with effect from 9am to 5pm on Friday, pending an announcement relating to a material contract.

Heitech Padu shares suspended for material contract announcement

(Oct 18): Thailand’s 38-year-old prime minister is working on a plan to alleviate the economic drag from a household debt bill topping US$500 billion (RM2.15 trillion) — a figure that has ballooned since her father first took office in 2001.

A US$500b pile of household debt weighs on new Thai leader

China’s September home prices fell at almost the same pace as the previous month, despite the country’s efforts to stabilise the real estate sector. 

New-home prices in 70 cities, excluding state-subsidised housing, dropped 0.71% from August, in line with a 0.73% decline a month earlier, National Bureau of Statistics figures showed on Friday.

China home price slump drags on despite revival efforts

(Oct 18): In the countdown to the weekend inauguration of Indonesia’s new president, Jakarta’s political elite has been huddled at the incoming leader’s private ranch outside the capital, deep in the last-minute haggling that will determine the shape of the country’s government for the next five years.

Indonesia’s fixer-in-chief bows out as Prabowo takes the helm

BMI, a Fitch Solutions company, holds a positive outlook for consumer spending in Malaysia for 2025, supported by an ongoing economic recovery that fuels stable real consumer spending growth, according to its note on Friday.

The research firm said easing inflationary pressures and a stable labour market will sustain consistent consumer spending.

Positive 2025 consumer spending outlook for Malaysia, but high household debt poses risk — BMI

(Oct 18): China’s largest state-owned lenders have cut their deposit rates on Friday, their second reduction this year as they rushed to salvage record low margins amid weakened profitability.

Major banks including Industrial & Commercial Bank of China Ltd. and China Construction Ba...

China’s mega banks trim deposit rates as stimulus hits profits

BEIJING/SHANGHAI (Oct 18): China's central bank and financial regulators have held meetings with key financial institutions, urging them to swiftly implement expansive policies to support the economy and the capital markets.

The People's Bank of China (PBOC) said in a statement on its w...

China urges swift implementation of expansive financial policies

(Oct 18): The economic policies being proposed by Republican presidential candidate Donald Trump would fuel inflation and harm businesses, U.S. Treasury Secretary Janet Yellen plans to warn in a speech, according to a report in the New York Times on Thursday.

Yellen's crit...

Yellen to warn sweeping tariffs would ignite inflation, NYT reports

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

Genting Malaysia, Varia, Salcon, SC Estate Builder, AME Reit, AME Elite, Ancom Nylex, MAHB, HPP Holdings, LKL, Bintai Kinden 

The National Budget is set to be tabled on Friday. Regardless of what will be announced, Malaysian corporates must continue to focus on several areas, apart from wave two of e-invoicing.

Focusing on tax areas that matter most

PPG Industries&nbsp;will lay off 1,800 employees in the US and Europe and close various facilities as part of a cost-reduction programme, the paints and coatings maker said on Thursday.

PPG to lay off 1,800 employees in US, Europe in cost-cut push

AME Real Estate Investment Trust's (KL:AMEREIT) proposed acquisition of four single-storey detached factories in Johor for RM119.45 million has been deemed fair and reasonable, according to independent adviser MainStreet Adviser Sdn Bhd.

AME REIT's proposed acquisition of Johor factories for RM119 mil is fair and reasonable, says independent adviser

Meta is laying off employees across units including Instagram, WhatsApp and Reality Labs, the Verge reported on Wednesday, citing people familiar with the matter.

Meta lays off employees at WhatsApp and Instagram — report

(Oct&nbsp;18) :&nbsp;The world’s biggest bond market got hit as a solid retail sales report had traders trimming their bets on Federal Reserve rate cuts this year.

Wall Street dials back Fed-cut bets on solid data

(Oct&nbsp;18) :&nbsp;The yen fell below the psychological mark of 150 per dollar, after robust US economic data led traders to dial back bets on Federal Reserve interest-rate cuts, boosting the greenback.&nbsp;

Yen falls to key 150 level after solid US retail, labor data

Shares of Heitech Padu Bhd (KL:HTPADU) were suspended with effect from 9am to 5pm on Friday, pending an announcement relating to a material contract.

(Oct 18):&nbsp;US government bonds slumped after strong September retail-sales figures fanned doubts over how quickly the Federal Reserve will continue to lower interest rates.

The selloff pushed Treasury yields higher by as much as seven to 10 basis points. Initially, short maturities ...

Treasury yields climb as strong data sow doubt on Fed rate cuts

BMI, a Fitch Solutions company, holds a positive outlook for consumer spending in Malaysia for 2025, supported by an ongoing economic recovery that fuels stable real consumer spending growth, according to its note on Friday.

The research firm said easing inflationary pressures and a stable labour market will sustain consistent consumer spending.&nbsp;

JERUSALEM/CAIRO (Oct 17): Hamas leader&nbsp;Yahya&nbsp;Sinwar, a mastermind of the Oct&nbsp;7, 2023&nbsp;attack that triggered the Gaza war, has been killed by Israeli forces in the Palestinian enclave, Israel said on Thursday.

Hamas leader Sinwar killed by Israeli troops in Gaza, Netanyahu says war will go on

Deere &amp; Co is laying off an additional nearly 300 people in Iowa and Illinois as demand for farm equipment slows from the peak production of recent years.

Deere announces more layoffs in Iowa, Illinois during farm slump

(Oct 18):&nbsp;Thailand’s 38-year-old prime minister is working on a plan to alleviate the economic drag from a household debt bill topping US$500 billion (RM2.15 trillion) — a figure that has ballooned since her father first took office in 2001.

Sage Therapeutics&nbsp;said on Thursday its finance chief will leave the company and the drugmaker plans to lay off more than 165 employees as part of a reorganisation plan that aims to focus on the launch of its postpartum depression pill.

Sage Therapeutics' CFO to leave, drugmaker to lay off over 165 employees

France's belt-tightening budget delivers a bigger tax hit than the government originally let on, according to new breakdowns that suggest a bigger dent in President Emmanuel Macron's pro-business legacy.

French budget packs bigger tax punch than first meets the eye

(Oct 18):&nbsp;In the countdown to the weekend inauguration of Indonesia’s new president, Jakarta’s political elite has been huddled at the incoming leader’s private ranch outside the capital, deep in the last-minute haggling that will determine the shape of the country’s government for the next five years.

(Oct&nbsp;18) :&nbsp;Traders are adding to bets that the European Central Bank (ECB) will need a bumper interest-rate cut in December, after policymakers&nbsp;flagged&nbsp;risks to growth as they lowered borrowing costs on Thursday.

Traders see 20% chance of half-point ECB rate cut in December

(Oct 18): China’s largest state-owned lenders have cut their deposit rates on Friday, their second reduction this year as they rushed to salvage record low margins amid weakened profitability.

Major banks including Industrial &amp; Commercial Bank of China Ltd. and China Construction Ba...

(Oct 18):&nbsp;The economic policies being proposed by Republican presidential candidate Donald Trump would fuel inflation and harm businesses, U.S. Treasury Secretary Janet Yellen plans to warn in a speech, according to a report in the New York Times on Thursday.

Yellen's crit...

BEIJING/SHANGHAI (Oct 18): China's central bank and financial regulators have held meetings with key financial institutions, urging them to swiftly implement expansive policies to support the economy and the capital markets.

The People's Bank of China (PBOC) said in a statement on its w...

Budget 2017

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