<div class=newsTextDataWrapInner><p>(Dec 5): Lone Star Funds is set to open an office in Abu Dhabi, becoming the latest global asset manager to use the emirate as a hub for expansion in the Middle East.</p></div>

<div class=newsTextDataWrapInner><p>The firm, which has capital commitments of US$95 billion (RM423.09 billion), has received in principle approval to establish an office in the emirate’s financial centre, according to a statement.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Abu Dhabi sits on 6% of the world’s proven oil reserves, is home to the world’s richest family and boasts sovereign wealth funds that manage US$1.7 trillion in assets. That’s helped draw a cadre of hedge funds and venture capital firms, as well as billionaires like Ray Dalio to its burgeoning finance hub.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Lone Star will use the city as a base to expand the presence of its portfolio companies in the Middle East. Its staff in the United Arab Emirates include two managing directors — Jonathan Ussher and former Citigroup Inc banker Mihir Unadkat, who worked on Saudi Aramco’s 2019 initial public offering.</p></div>

<div class=newsTextDataWrapInner><p>The firm invests across equity, real estate, credit and other assets. It’s currently working on a buyout of Carrier Global Corp’s commercial and residential fire unit valued at US$3 billion.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Felyx Teoh</em></p></div>


Lone Star Funds is set to open an office in Abu Dhabi, becoming the latest global asset manager to use the emirate as a hub for expansion in the Middle East.

The firm, which has capital commitments of US$95 billion (RM423.09 billion), has received in principle approval to establish an office in the emirate’s financial centre, according to a statement.

Lone Star joins the bandwagon in Abu Dhabi’s finance hub

All parties to Israel-Hamas war have agreed that the Gaza ceasefire will take effect at 8.30am local time on Sunday, a few hours earlier than had been anticipated, Qatar announced.

Gaza ceasefire to start on Sunday morning following Israeli approval

South Korea’s impeached President Yoon Suk Yeol appeared in court on Saturday to argue against a request for his detention to be extended after his arrest earlier this week.

Impeached S Korean president Yoon defends himself in court against longer detention

The Ministry of Transport (MOT) will hold talks with the Road Transport Department (JPJ) to enable the mobile application for the selling and buying of used motorcycles to be integrated with the mySIKAP system for simpler, faster and safer transactions.

MOT, JPJ to discuss integrating app for buying and selling used motorcycles with mySIKAP

The Malaysian Anti-Corruption Commission (MACC) has detained four more individuals suspected of accepting bribes in return for assisting in processing and approving personal loan applications submitted by a financial consultancy firm.

MACC arrests four more suspects over loan bribery scandal

Phase 3 of the e-invoicing initiative has received over 4,900 early voluntary participants, according to the Inland Revenue Board (IRB).

In a statement on Saturday, the IRB noted that the e-invoicing implementation had now entered the second phase and shown a promising increase in participation.

Over 4,900 early voluntary participants in Phase 3 of e-invoicing, says IRB

JF Technology Bhd (KL:JFTECH) co-founder and managing director Datuk Foong Wei Kuong, who became the second-largest shareholder of Cosmos Technology International Bhd (KL:COSMOS) on Wednesday, said he intends to tap into the growing opportunities within Malaysia's water infrastructure sector.

JF Tech boss sees water infrastructure potential in Cosmos as he becomes second-largest shareholder

Deutsche Lufthansa AG completed the acquisition of a minority stake in Italian carrier ITA Airways late on Friday after first making an offer for its competitor in January 2023.

Lufthansa finalises deal for 41% stake in Italy’s ITA Airways

Malaysia's economy is projected to grow at a moderate pace of 4.5% to 5.0% in 2025, benefiting from strong economic fundamentals and an uptick in foreign investments, Hong Leong Bank Bhd or HLB (KL:HLBANK) said.

HLB forecasts M'sian economic growth at moderate pace of 4.5% to 5% in 2025

A four-day road ban on goods vehicles will be enforced in conjunction with the Chinese New Year celebration to alleviate traffic congestion and minimise the risk of accidents.

MOT to enforce road ban on goods vehicles during Chinese New Year

Discussions are underway between the Malaysian Communications and Multimedia Commission (MCMC) and Microsoft, the owner of LinkedIn, regarding the licensing of the social media platform, said Communications Minister Fahmi Fadzil.

MCMC discussing LinkedIn licensing with platform owner Microsoft, says Fahmi

<p>Long queues were spotted at Sports Toto Bhd's (KL:SPTOTO) outlets across Malaysia on Saturday, as eager punters lined up for a chance to strike it rich with the record-breaking RM100 million Supreme 6/58 jackpot.</p>


Nationwide frenzy: Long queues at Sports Toto outlets as punters hope to win RM100m jackpot

<p>In a last-minute move by the Biden-Harris administration, a new Interim Final Rule on Artificial Intelligence Diffusion was announced on Monday (Jan 13), imposing stricter export controls on US-developed AI chips.</p>


Is Malaysia’s chip sector prepared for the storm?

<p>Malaysia’s Energy Commission (EC) will conduct an open tender for the large-scale solar (LSS) Petra 5+ programme, offering opportunities to develop solar plants with capacities ranging from 10MW to 500MW, scheduled for operation in 2027.</p>


Malaysia calls for second LSS5 bid, targets 2GW

<p>US President-elect Donald Trump’s policies risk stunting global growth and weakening demand for Malaysian chips, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.</p>


US trade war threatens demand for Malaysian chips, says Zafrul

<p>Intel Corp&nbsp;shares jumped as much as 9.5% on Friday morning after a report on a technology news site said the beleaguered chipmaker is an acquisition target.</p>


Intel shares jump on report it’s an acquisition target

<p>TikTok said it will be forced to “go dark” in the US on Sunday unless there is a clear statement from the Biden administration to service providers that are maintaining its availability.</p>


TikTok says to ‘go dark’ in US on Sunday without White House clarity

<p>JF Technology Bhd (KL:JFTECH) co-founder and managing director Datuk Foong Wei Kuong, who became the second-largest shareholder of Cosmos Technology International Bhd (KL:COSMOS) on Wednesday, said he intends to tap into the growing opportunities within Malaysia's water infrastructure sector.</p>


<p>Prime Minister Datuk Seri Anwar Ibrahim’s visit to the UK has successfully attracted&nbsp;RM11 billion in potential investments across various sectors, including renewable energy and the digital economy.</p>


PM's UK visit attracts potential investments worth RM11b

<p>Outgoing Treasury Secretary Janet Yellen said her department will start taking special accounting manoeuvres as of Jan&nbsp;21 to avoid breaching the US debt limit, and urged lawmakers again to take steps to increase or suspend the statutory ceiling.</p>


US to take extraordinary steps to avert default, Yellen says

<p>Donald&nbsp;Trump's&nbsp;incoming US&nbsp;presidential administration plans to intensify immigration enforcement nationwide soon after he takes office on Monday, a person with knowledge of the plans said.</p>


Trump plans to intensify immigration enforcement soon after inauguration, Reuters reports

<p>Malaysia's economy is projected to grow at a moderate pace of 4.5% to 5.0% in 2025, benefiting from strong economic fundamentals and an uptick in foreign investments, Hong Leong Bank Bhd or HLB (KL:HLBANK) said.</p>


<p>Malaysians abroad should not underestimate the technological advancement, expertise and talent available back home, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


Don’t underestimate technological advancement and talent back home, says Anwar

<p>All parties to Israel-Hamas war have agreed that the Gaza ceasefire will take effect at 8.30am&nbsp;local time on Sunday, a few hours earlier than had been anticipated, Qatar announced.&nbsp;</p>


<p>Chief Minister Chow Kon Yeow has denied recent claims in local media reports that the state government plans to increase hotel accommodation fees by up to 50% this year.</p>


Penang has no plans to raise hotel fees, says CM

<p>Bitcoin appears to be back on track towards record highs with the second presidential inauguration of pro-crypto Donald Trump just days away.&nbsp;</p>

<p>The largest cryptocurrency by market value has climbed as much as 13% since Sunday, putting it on pace for the biggest weekly gain since election week in November. Bitcoin, which reached a record US$108,315 (RM487,851) in December, had declined in three of the prior four weeks. It was up about 4.9% to US$105,076 as of 3.44pm&nbsp;in New York.</p>


Bitcoin jumps to high for year ahead of Trump inauguration

<p>Discussions are underway between the Malaysian Communications and Multimedia Commission (MCMC) and Microsoft, the owner of LinkedIn, regarding the licensing of the social media platform, said Communications Minister Fahmi Fadzil.</p>


<p>A four-day&nbsp;road ban on goods vehicles will be enforced in conjunction with&nbsp;the Chinese New Year celebration to alleviate traffic congestion and minimise&nbsp;the risk of accidents.</p>


<p>Bank of America Corp&nbsp;is divvying up a roughly US$1 billion (RM4.5&nbsp;billion) pool of restricted stock among the majority of its staff, lifting compensation to retain employees as the lender seeks to boost earnings while keeping a lid on expenses.</p>


Bank of America staff to share about US$1b of stock awards

<p>The US Federal Reserve (Fed) has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), a global coalition of central banks engaged in the study of climate risk that was launched in 2017.</p>


Fed withdraws from global climate coalition

<p>Starbucks Corp&nbsp;said it will eliminate some corporate positions, the latest chapter of chief executive officer Brian Niccol’s plan to rebuild the company.</p>

<p>The announcement will come in early March and “will not affect our in-store teams or the investments we are making in store hours,” Niccol wrote in a memo to workers that was included in a regulatory filing. The company declined to say how many positions will be eliminated and in what areas.</p>
