<div class=newsTextDataWrapInner><p data-qa-component="item-headline" data-rc-highlight="headline">SHANGHAI/HONG KONG (Sept 10): UBS said on Thursday that its China fund distribution unit in the tech hub of Shenzhen would cease its fund sales business at the end of September.</p></div>

<div class=newsTextDataWrapInner><p>Launched in 2022, the platform, branded WE.UBS, was established as an independent fund sales unit and targets affluent Chinese investors.</p></div>

<div class=newsTextDataWrapInner><p>In a statement to <em>Reuters</em>,&nbsp;UBS&nbsp;said other wealth management platforms in China were operating as usual, and it would integrate relevant resources from the shuttered business.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>WE.UBS&nbsp;struggled to scale in the face of a highly competitive market, as well as competition within&nbsp;UBS, three people with knowledge of the matter told <em>Reuters </em>on condition of anonymity.</p></div>

<div class=newsTextDataWrapInner><p>The Swiss bank's other operations in China, including brokerage and banking units, also have fund sales licences.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Liza Shireen Koshy</em></p></div>


SHANGHAI/HONG KONG (Sept 10): UBS said on Thursday that its China fund distribution unit in the tech hub of Shenzhen would cease its fund sales business at the end of September.

UBS says its China fund distribution unit will cease business

The board of India's Tata Sons has approved a fresh five-year term for N Chandrasekaran as executive chairman, a source familiar with the matter said on Thursday, reversing his decision last month not to seek reappointment.

India's Tata Sons board approves fresh five-year term for Chairman Chandrasekaran, source says

Indonesian President Prabowo Subianto has called for stricter regulations and sanctions against slash-and-burn land clearances, branding the practice "ecological terrorism", as the country struggles to contain wildfires that have been raging for weeks.

Indonesian president calls for stricter sanctions against forest fire perpetrators

World shares shuffled higher and the dollar nestled at a seven-week high on Thursday, after the US Federal Reserve's first interest rate hike in more than three years and a dip in oil prices helped calm a global bond market selloff that ‌has rumbled for months.

Shares and short-term yields edge up after Fed hike, focus turns to BOE

Pioneer Heat Holdings Bhd (KL:PIONEER) ended its ACE Market debut on Thursday 5 sen, or 20%, higher than its initial public offering price of 25 sen.

Pioneer Heat ends ACE Market debut 20% above IPO price

Electronic payment providers need to be more diligent in vetting companies that use their platforms in order to protect people from fraud, the Philippine central bank said.

Casinos posing as salons spur Philippine central bank review

A total of 30 areas nationwide recorded unhealthy air pollutant index (API) readings as of 5pm on Thursday.

Haze: Unhealthy air in 30 areas nationwide as of 5pm

AirAsia Group Bhd (KL:AAGB) fell on Thursday to the lowest in nearly four years amid mounting concerns over the low-cost airline’s financial health.

AirAsia falls to near four-year low amid concerns over financial health

Bank of America has hired Goldman Sachs banker Srijith Nair as head of Asia excluding China financial institutions group investment banking and Asia-Pacific insurance investment banking, according to an internal memo seen by Reuters on Thursday.

BofA hires Goldman's Srijith Nair to lead Asia ex-China financial institutions banking, memo says

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

FBM KLCI down 0.27% to 1,674.74 on Sept 17, 2026

Yemenis took to boats in the Red Sea to escape fighting between Iran-backed Houthi fighters and Saudi-backed forces, as the spreading Middle East war created new threats to global oil supplies.

Yemenis take to boats to flee as Middle East war spreads

<p>Over the past two years, I have occasionally written about some of the people I regard as role models in Malaysia's plantation and palm oil journey — Tun Dr Lim Keng Yaik, Tun Raja Muhammad Alias Raja Muhammad Ali, Tan Sri Abdul Khalid Ibrahim, Tan Sri Datuk Dr Augustine Ong Soon Hock, Datuk Boon Weng Siew, fondly remembered as “Uncle Boon”, MR&nbsp;Chandran and Mahbob Abdullah, among others.</p>


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<p>The Dewan Keadilan dan Undang Negeri Sembilan (DKU) has accused the Negeri Sembilan state executive council of treason and an attempted coup d'etat against ruler Tuanku Muhriz Tuanku Munawir, according to a letter issued on Wednesday night by Messrs Halim &amp; Ismail.</p>


DKU accuses Negeri Sembilan exco of treason and attempted coup d'etat against ruler Tuanku Muhriz

<p>Malaysia’s struggling bond market may see an outflow of Japanese capital as its yield premium shrinks.</p>


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<p>The ringgit on Thursday depreciated to its lowest level in nearly three months amid broad-based greenback strength at a time of rising US interest rates.</p>


Ringgit approaches three-month low as Fed rate hike strengthens dollar

<p>Analysts say now is a good opportunity to buy and accumulate YTL Power International Bhd's (KL:YTLPOWR) shares, given the recent pullback and the company's&nbsp;reservation of four new gas turbines amid a global backlog.</p>


YTL Power worth accumulating on pullback and new gas turbines — analysts

<p>AirAsia Group Bhd (KL:AAGB) fell on Thursday to the lowest in nearly four years amid mounting concerns over the low-cost airline’s financial health.</p>


<p>The US Federal Reserve (Fed) raised interest rates by a quarter percentage point and penciled in an additional hike later this year, steps aimed at containing inflation that will test chairman Kevin Warsh’s relationship with President Donald Trump.</p>


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<p>World shares shuffled higher and the dollar nestled at a seven-week high on Thursday, after the US Federal Reserve's first interest rate hike in more than three years and a dip in oil prices helped calm a global bond market selloff that ‌has rumbled for months.</p>


<p>&nbsp;Pioneer Heat Holdings Bhd (KL:PIONEER) ended its ACE Market debut on Thursday 5 sen, or 20%, higher than its initial public offering price of 25 sen. &nbsp;</p>


<p>Blogger Wan Muhammad Azri Wan Deris, or better known as Papagomo, has failed to obtain a stay of a High Court judgement in May that had ordered him to pay RM280,000 in damages for defaming former finance minister Lim Guan Eng and his son Clint Lim Way Chau six years ago.</p>


Papagomo fails to obtain stay of damages payment to Guan Eng, son

<p>The government has agreed to expand the Budi Madani Diesel&nbsp;eligibility transfer facility, allowing registered owners of private diesel vehicles to transfer their eligibility to any eligible actual user,&nbsp;effective immediately.</p>


Budi Diesel: Govt now allows eligibility transfer to any eligible actual user

<p>Pestec International Bhd (KL:PESTEC) said the Kuala Lumpur High Court has extended an injunction preventing its China-based supplier Shandong Power Equipment Co Ltd (SPECO) from enforcing an undated corporate guarantee against the group.</p>


Pestec wins High Court order preventing Chinese supplier from enforcing corporate guarantee

<p>Singapore’s push to become a major gold hub is gaining momentum, with DBS Group Holdings Ltd&nbsp;adding bullion storage capacity and other banks considering similar moves.</p>


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<p>CCK Consolidated Holdings Bhd (KL:CCK) is no longer a ‘buy’ amid slower-than-expected recovery from a fire incident at one of its plants in Indonesia, said an analyst.</p>


CCK Consolidated no longer a ‘buy’ as Indonesian plant fire leaves lasting burn — analyst

<p>Oil prices eased in Asian trade on Thursday, extending losses on reports of Saudi Arabia offering extra crude cargoes through Oman, which reduced fears of supply disruptions, but stayed above US$100 on concerns about the Middle East conflict expanding.</p>


Oil extends losses as Middle Eastern supply disruption fears ease

<p>Huawei Technologies Co is set to unveil new artificial intelligence (AI) technology this week in defiance of US export control curbs, advancing its ambition to replace Nvidia Corp in China and compete on the global stage.</p>


Huawei set to unveil AI chips to match Nvidia 

<p>Negeri Sembilan Menteri Besar Datuk Ismail Lasim has confirmed that the state executive council recognises the proclamation removing Tuanku Muhriz Tuanku Munawir as the Yang di-Pertuan Besar, <em>Bernama</em> reported.</p>


Negeri Sembilan MB confirms state govt recognises removal of Tuanku Muhriz

<p>US President Donald Trump said he still had confidence in Federal Reserve (Fed) chairman Kevin Warsh and criticised what he said is a “hostile” board even after the central bank unanimously defied his calls to lower borrowing costs.</p>


Trump backs Warsh, faults ‘hostile’ Fed board for rate hike

<p>An individual who relies only on a fixed salary will eventually reach a ceiling.</p>


My Say: PETRONAS: Our hope for Malaysian global champions

<p>Malaysia has delayed the mandatory reasonable&nbsp;assurance requirements&nbsp;of&nbsp;applicable entities&nbsp;on their greenhouse gas (GHG) emissions by a year.&nbsp;</p>
