HSBC is set to acquire Citigroup's China consumer wealth management business, which manages more than US$3 billion (RM14.1 billion) in assets, two sources with knowledge of the matter said, in a major boost to the London-based bank's business in that country.

HSBC to acquire Citigroup China consumer wealth business — sources

Targeted fuel subsidies could hit the middle-income group (M40s) the hardest, as the top 20% income earners (T20) will be better able to absorb the higher fuel costs while the bottom 40% households (B40) will be eligible for handouts to buffer the resulting higher inflation, said an analyst and economist.

Targeted fuel subsidy could squeeze M40s hardest, say experts

Tan Sri Lim Kang Hoo, in his personal capacity as a major shareholder of Ekovest Bhd, Knusford Bhd, Iskandar Waterfront Holdings Sdn Bhd and Iskandar Waterfront City Bhd, has served a letter of proposals outlining his intention to reorganise, rationalise and merge these companies along with PLS Plantations Bhd, in which Ekovest holds a 62% stake.

Lim Kang Hoo proposes consolidation of group businesses under Ekovest

Capital A Bhd has inked three memoranda of understanding (MOU) to partner long-time rival PT Garuda Indonesia (Persero) Tbk in both parties’ commercial airline, cargo as well as maintenance, repair and overhaul (MRO) businesses.

Capital A teams up with Indonesian rival Garuda on airline, cargo, MRO businesses 

Gamuda Bhd’s annual net profit crossed the RM1 billion mark for the financial year ended July 31, 2023 (FY2023) after it posted a 128.03% increase to RM1.84 billion from RM806.23 million in the previous year (FY2022), largely fuelled by gains on the divestment of its highways.

Gamuda's FY2023 net profit crosses RM1b on disposal of highways; overseas construction revenue surges fourfold to RM3.5b

Hui Ka Yan, the billionaire chairman of beleaguered property developer China Evergrande Group, has been placed under police control, according to people with knowledge of the matter.

China puts Evergrande’s billionaire founder under police control

Median monthly salaries and wages rose 7.7% in 2022 to RM2,424, from RM2,250 in 2021 after Malaysia implemented the minimum wage of RM1,500 in May last year, according to the Department of Statistics Malaysia (DOSM).

Median monthly salaries and wages up 7.7% in 2022 after RM1,500 minimum wage implementation — DOSM

The emergence of businessman and Umno politician Datuk Seri Johari Abdul Ghani — through JAG Capital Holdings Sdn Bhd — as a major shareholder of MyNews Holdings Bhd a few months ago has been followed by significant boardroom changes at the group, which operates chains of convenience stores.

MyNews sees boardroom shake-up after Johari Abdul Ghani emerges as new shareholder

The National Energy Transition Roadmap (NETR) and New Industrial Master Plan (NIMP) are expected to accelerate the country’s transition and open up large investment opportunities, says Bank Negara Malaysia (BNM).

BNM: National Energy Transition Roadmap, New Industrial Master Plan to boost Malaysia’s investment opportunities

PUTRAJAYA (Sept 27): The Court of Appeal has fixed Feb 28 and 29, 2024, to hear the prosecution’s appeal against the acquittal of former prime minister Tan Sri Muhyiddin Yassin over the striking out and acquittal of his abuse of power charges.

Court of Appeal fixes Feb 28 and 29 to hear prosecution’s appeal over Muhyiddin’s acquittal

Embattled Chinese developer Country Garden Holdings Co faces another round of debt deadlines Wednesday, including one for dollar bond interest.

The builder, which has become the face of China’s broader property debt crisis, must pay a US$40 million (RM188.19 million) coupon on a note maturing in January.

Country Garden faces dollar, ringgit bond interest deadlines

Singapore's central bank said on Tuesday it was looking into whether banks involved in a S$2.4 billion (RM8.2 billion) money laundering scandal in the global wealth hub had taken all reasonable steps to mitigate risks.

Singapore's central bank looking into banks' role in US$1.8b money laundering case

The European Union’s new, tougher approach to China is being shaped by French concerns that Beijing’s trade practices have started to pose a critical threat to core industries.

Macron is pushing Europe into a US$900b fight with China

Record growth in clean energy technology, including solar panels and electric vehicles, means it is still possible to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit), the International Energy Agency (IEA) said on Tuesday.

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