Proton Holdings has officially unveiled its new c-segment sedan, the Proton S70, with prices starting at RM73,800. </div><div class=inPageAd id=div-gpt-ad-inpage>

NEWS: Proton S70 officially launched

Protesters stormed the parliament of the Russian-backed breakaway Georgian region of Abkhazia on Friday and opposition politicians demanded the resignation of the self-styled president over an unpopular investment agreement with Moscow.

Protesters used a truck to smash through the metal gates surrounding the parliament in the capital Sukhumi.

Protesters storm parliament in breakaway Georgian region Abkhazia over deal with Russia

Europe has spent the past two years trying to free itself from dependence on Russian energy, but more expensive alternatives are prompting some landlocked countries to go back to their old source.

A case in point is the Czech Republic, which in the summer of 2023 declared total independence from Russian natural gas and cut its imports to almost zero.

Czechs return to Russian gas as alternative sources are getting more expensive

Traders see an interest-rate cut next month as a coin toss as resilient economic data empowers Federal Reserve officials to take a potentially more-cautious approach to easing.

In the swaps market, traders on Friday priced in a roughly 50% chance that the Fed delivers a quarter-point reduction at its December gathering, down from about 80% earlier in the week.

Traders see just a 50% chance of Fed cutting rates in December meeting

The decision by several international institutions to revise Malaysia's economic growth projections reflects their confidence in the country's prospects for the year, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He also noted that this demonstrates the government's progress in meeting its set targets.

Global institutions upgrade Malaysia's 2024 growth outlook

Cypark Resources Bhd (KL:CYPARK) said its floating solar farm at Danau Tok Uban, Kelantan (DTU) — Malaysia's largest — has been approved to start operations on Nov 16, 2024.

The site consists of two interconnected floating solar plants, DTU 1 and DTU 2, with a combined generation capacity of 98 megawatt direct current (MWdc), according to Cypark.

Cypark's floating solar farm in Kelantan gets nod for operations

Former Penang deputy chief minister Tan Sri Dr Ibrahim Saad passed away at 6.30pm on Friday at Damansara Specialist Hospital due to respiratory complications. He was 78.

His son, Datuk Zairil Ayu Ibrahim, 49, confirmed the news when contacted.

Ex-Penang deputy chief minister Ibrahim Saad dies

Chinese President Xi Jinping warned against any efforts to unwind globalisation in his first major remarks since Donald Trump won the US presidential election after threatening to impose tariffs as high as 60% on the world’s second-biggest economy.

Xi warns against ‘going back in history’ as Trump tariffs loom

Practice Note 17 (PN17) company Barakah Offshore Petroleum Bhd (KL:BARAKAH) said it will need to reformulate its regularisation plan after receiving an adjudication sum of RM78.8 million and updates on tendering contracts.

Barakah drafts new PN17 regularisation plan after receiving RM79 mil adjudication sum

US industrial production declined in October as the impacts from a Boeing Co machinists’ strike and a pair of hurricanes reverberated through manufacturing for a second month.

The 0.3% decline in output at factories, mines and utilities followed a revised 0.5% decrease a month earlier, Federal Reserve data showed on Friday.

US October industrial production falls on strike, hurricane disruptions

Here is a brief recap of some corporate announcements that made the news on Friday.

MAHB, Kossan, Malaysia Smelting Corp, Ge-Shen, Prolintas, Farm Price, Citaglobal, Petra Energy and Sunsuria

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

Sime Darby Property (KL:SIMEPROP) will launch its latest condominium development named Kanopi Residences in its 6.5-acre City of Elmina township in Shah Alam on Nov 23.

Sime Darby Property to launch City of Elmina’s first high-rise Kanopi Residences on Nov 23

Malaysia Smelting Corporation Bhd (KL:MSC) has boosted its dividend payout to 24 sen per share for the financial year ending Dec 31, 2024 (FY2024), comprising a special dividend of 17 sen per share and an interim dividend of seven sen per share.

Bumper dividend of 24 sen for Malaysia Smelting Corp shareholders

Marriott International informed employees this week about a widespread restructuring that may result in hundreds of employees exiting the company, sources within the company told Skift.

Marriott starts to lay off corporate employees — report

A pullback in the S&amp;P 500 that’s already trimmed about a third off the index’s post-election rally is set to continue on Friday, as sticky inflation and hawkish comments from the Federal Reserve weigh on sentiment.

US stocks have already returned a third of post-election gains

Bank Negara Malaysia (BNM)’s move to allow multilateral development banks (MDBs) and selected non-resident development financial institutions (DFIs) to issue ringgit debt securities and finance local entities is expected to increase market liquidity, making it easier for other issuers to raise funds, according to Fitch Ratings.

Fitch Ratings says BNM's move to allow foreign financial institutions to issue ringgit bonds will boost market liquidity

Pipe-and-valve maker Pantech Group Holdings Bhd (KL:PANTECH) said it has obtained approval from the Securities Commission Malaysia (SC) to list two wholly owned subsidiaries on the Main Market of Bursa Malaysia via a special purpose vehicle.

Pantech Group gets SC's nod for listing of its subsidiaries under Pantech Global

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday.

FBM KLCI down 0.51% to 1,592.44 on Nov 15, 2024

Here is a brief recap of some corporate announcements that made the news on Friday.

Kossan Rubber Industries Bhd (KL:KOSSAN) reported a 28.15% drop in its net profit for the July-September quarter, dragged by higher raw material costs and unrealised foreign exchange (forex) losses.

Kossan declares 8 sen dividend despite 3Q profit drop

KUALA LUMPUR (Nov 15): The Malaysian Meteorological Department (MetMalaysia) has issued an alert-level continuous rain warning for the East Coast and Johor&nbsp;from Nov 19 to 23, 2024.

Continuous rain expected in East Coast, Johor next week — MetMalaysia

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Sime Darby Bhd (KL:SIME) is rebranding itself as “Sime” to “reflect the group’s vision for the future and its renewed strategic focus as a pure-play powerhouse in the automotive and industrial equipment segments”.

Sime Darby rebrands as ‘Sime’ to reflect future vision, strategic focus in automotive

Petra Energy Bhd (KL:PENERGY) has secured a four-year contract from Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd for the provision of offshore crane operations and maintenance services.

Petra Energy bags offshore crane operation contract from Shell

Citaglobal Bhd (KL:CITAGLB) said on Friday it has signed an agreement to build a 5.4-megawatt solar plant integrated with a battery energy storage system in Azerbaijan.

Citaglobal to build solar plant in Azerbaijan’s Port of Baku

Economists are largely expecting Malaysia's gross domestic product (GDP) growth to sustain in the final quarter of 2024, but raised concerns about US tariff risks weighing on global trade, which may negatively impact Malaysia's economy in 2025.

Economists sanguine on Malaysia's 4Q prospects but flag global uncertainties may weigh on 2025

Carbon-based products manufacturer PMB Technology Bhd (KL:PMBTECH), which is 23.58% controlled by Press Metal Aluminium Holdings Bhd (KL:PMETAL), announced on Friday that its rights issue of 243.7 million shares has been oversubscribed by 12.45%.

PMB Technology’s rights issue oversubscribed by 12.45%

Aluminium soared as China announced it was removing a tax rebate that covers over five million tonnes of exports of the metal.

Futures in London jumped as much as 8.5% following the announcement from the country’s Ministry of Finance, which didn’t give a reason for the change.

Aluminium soars as China cancels tax incentive on exports

Vegetable supplier Farm Price Holdings Bhd (KL:FPHB) has scrapped its recently announced plan for a one-for-two bonus issue of warrants, saying it will revisit the plan next year instead.

“After further deliberation, the company has decided not to proceed with the proposed bonus issue of warrants and will revisit the same in the second quarter of 2025,” Farm Price said in a bourse filing on Friday, without explaining further.

Farm Price aborts plan for bonus warrants a week after announcing it

International law does not apply to Sarawak’s claims over its oil and gas (O&amp;G) resources, according to Gabungan Parti Sarawak (GPS) deputy secretary-general Datuk Ibrahim Baki.

Baki, who served as a legal officer of Petroliam Nasional Bhd (Petronas), and a former non-independent non-executive director of the national oil and gas firm, said this during Sarawak’s Supply Bill 2025 debate in the state legislative assembly.