The sinkhole incident that occurred on Aug 23 in Kuala Lumpur, which saw the disappearance of an Indian national, has raised concerns and speculations about the safety of the surrounding buildings and infrastructure.

As a result, on Aug 31, Minister in the Prime Minister’s Department (F...

SOPs in place to ensure structural integrity, safety

WHILE flight disruptions such as delays and cancellations are not uncommon under the weight of a post-Covid-19 resurgence in air travel, a cascade of incidents linked to technical faults on Malaysia Airlines airplanes has put the spotlight on the national carrier. At least six flights were disrup...

Cover Story: Are concerns about Malaysia Airlines’ flight disruption problem overblown?

OVER the past 10 years, national carrier Malaysia Airlines Bhd took its eyes off investing in its business, including its fleet of aircraft, to focus on paring down debt to strengthen its balance sheet and returning to profitability. Just as it returned to profit in 2023, it is now paying the pri...

Cover Story: Delays in reinvestment come back to bite Malaysia Airlines

Marginalised and dominated economically by the Global North, developing countries must urgently cooperate to better strive for their shared interests in achieving world peace and sustainable development.

Cold War rivalry

During the first Cold War between the US, Nato and oth...

My Say: The Global South in the New Cold War

Just when Formula One was within a slow pit stop of becoming more interesting off the track than on it, Red Bull has come to the rescue. The motor racing equivalent of an own goal is to turn an uncatchable beast of a car into an untameable monster — and they duly obliged.

Seeking anothe...

Business Of Sports: Formula One has a shock new narrative as wheels come off Red Bull

THERE is a lot of global stock market envy these days. From Singapore’s SGX to Seoul’s KRX to Stockholm’s Nasdaq, the honchos of exchanges around the world wish they too had something that America has: a robust stock market that is helping to boost prosperity, driving economic growth and fuelling...

Tech: How to revive moribund stock markets around the world 

As the third-generation principal of family-owned business, Hong Bee Land Sdn Bhd director Gan Hua Tiong recognises the importance of heritage. The company has come a long way from its humble beginnings in 1933 when it was known as Hong Bee Textiles. Today, the once low-profile property developer...

Cover Story: Hong Bee Land gearing up for more launches

DESPITE DRB-Hicom Bhd’s (KL:DRBHCOM) share price dropping to a 52-week low of RM1.09 last Tuesday, analysts do not see the stock as undervalued. The counter last traded at this level during the pandemic, when it closed at RM1.02 on Sept 23, 2020.

The stock’s lacklustre performance this ...

DRB-Hicom not seen as undervalued even as shares hit multiple-year low

The Malaysian real estate investment trust (M-REIT) industry kicked off almost two decades ago. Since then, the market capitalisation has quadrupled from RM9 billion in 2010 to RM41 billion as of Dec 31, 2023.

When I think about investment, I don’t subscribe to the idea that investment’...

My Say: The role of REITs in reshaping Kuala Lumpur

With wars raging in Gaza, in Ukraine and elsewhere, with forced displacement and civilian casualties on the rise across the globe, with the gap between the richest and the poorest widening rapidly, it seems as though we are witnessing nothing less than humanity itself in a state of crisis. We mus...

My Say: Restoring humanity in finance

The US presidential elections are closely watched as the winner influences policy directions and business climate in the world’s biggest economy, which in turn move the global markets. With the Nov 5 polling date less than two months away, The Edge revisits key economic and market indicators of the last seven election cycles from 1996.

How markets perform during US elections

AFFIN Bank Bhd (KL: AFFIN), the second-smallest of eight local banking groups in the country, has started to make a concerted effort to tap ultra-high net worth individuals, joining larger rivals that have long done so, in a bid to seek business with potentially higher margins.

Managing...

Affin Bank bets on the ultra-rich

Mitsui Fudosan (Asia) Malaysia Sdn Bhd (MFAM), a subsidiary of Mitsui Fudosan Co Ltd (a Tokyo-based real estate company), will officially open its first serviced suites development in Malaysia, Mitsui Serviced Suites Bukit Bintang City Centre (BBCC), by end-September, says Aritaka Yamagata, MFAM ...

Mitsui Fudosan to open Mitsui Serviced Suites BBCC this month

TEMPORARY works equipment supplier Plytec Holding Bhd’s (KL:PLYTEC) next growth phase will be driven by the storage and refurbishment hub and new factory that is being set up on its 18.41-acre Olak Lempit site in Kuala Langat, Selangor.

During a recent visit to the site, founder and gro...

PLYTEC’s next growth phase to come from its Olak Lempit manufacturing facility

Pengurusan Air Selangor Sdn Bhd (Air Selangor) is exploring the use of advanced water treatment technologies through artificial intelligence (AI) to monitor, predict and detect the quality of raw water from Selangor’s rivers before it is treated at the state’s 34 water treatment plants.

Air Selangor looking into AI solutions to better manage water pollution

Wheat fell as weak demand and improving weather in the US overshadowed an outsized interest-rate cut from the Federal Reserve.
 
Futures in Chicago dipped as much as 1.8%, extending losses this week amid weaker exports for European Union soft wheat and better conditions for US winter wheat planting.

Wheat drops as weak demand, better US weather outweigh Fed cut

Europe's incoming antitrust chief Teresa Ribera plans to loosen the bloc's competition rules to strengthen European industries and speed up regulatory scrutiny of merger deals, according to an interview in Spanish newspaper El Pais on Thursday.

Incoming EU antitrust chief Ribera plans to ease antitrust rules, says El Pais

Treasury Secretary Janet Yellen said that the Federal Reserve’s interest-rate cut Wednesday was “a very positive sign for where the US economy is,” reflecting progress in bringing down inflation and a determination to protect the job market.

Yellen says US Fed cut ‘positive sign,’ policy still restrictive

The US Senate will prepare temporary spending legislation that would avert a partial government shutdown at the end of the month, Senate Democratic Leader Chuck Schumer said on Thursday.

US Senate to move on stopgap bill to avoid partial government shutdown

Walmart Inc customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases. The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing.

Walmart plans instant bank payments, cutting out card networks

Sales of existing US homes fell in August to a 10-month low on persistent affordability challenges ahead of a recent decline in mortgage rates.

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualised rate, according to figures released on Thursday from the National Association of Realtors (NAR).

US existing-home sales drop to lowest level since October

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

Pharmaniaga, Country Heights, EcoWorld, SSF, United Malacca, Ancom Nylex 

Wall Street’s biggest banks are divided over how fast and deep the US Federal Reserve will cut interest rates over the next year, setting the stage for jittery financial markets until the outlook clears.

Big banks are split on how fast the Fed will cut interest rates

Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction and forecast more cuts were on the horizon.

Wall Street jumps with tech stocks in the lead after Fed kicks off easing cycle

The 50-basis-point (bps) policy rate cut by the US Federal Reserve early on Wednesday is expected to stimulate domestic consumption in the US and keep its economy from slowing too rapidly.

US Fed rate cut fuels optimism for sustained Malaysian export recovery after August growth beats

BALI (Sept 19): AirAsia is planning to expand its network in Indonesia, particularly in East Nusa Tenggara, the southernmost province of the country, according to Capital A Bhd (KL:CAPITALA) chief executive officer Tan Sri Tony Fernandes.

“We recently launched flights to Labuan Bajo, wh...

AirAsia eyes expansion in eastern Indonesia with new routes

PUTRAJAYA (Sept 19): The Immigration Department is conducting a review and will implement extensive reforms to its work processes and service delivery,&nbsp;in response to concerns raised by the Malaysian Anti-Corruption Commission (MACC)&nbsp;chief commissioner Tan Sri Azam Baki.

Immigration Dept to reform work processes following MACC chief’s feedback — DG

(Sept 19):&nbsp;India’s overtaking of China in some global gauges will likely usher in a bigger influx of foreign flows, giving equities in the South Asian country another boost.

India’s eclipsing of China in MSCI global stock gauges to drive flows

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

FBM KLCI gains 0.3% to 1,665.65 on Sept 19, 2024

The number of Americans filing new applications for unemployment benefits dropped to a four-month low last week, pointing to solid job growth in September and offering confirmation that the economy continued to expand in the third quarter.

US weekly jobless claims drop to four-month low

Intel said on Thursday it had no plans to sell its majority stake in Mobileye Global, sending shares of the self-driving tech firm up more than 13%.

Intel says has no plans to divest majority stake in Mobileye

Eco World Development Group Bhd (KL:ECOWLD) reported a 21.26% year-on-year increase in its third quarter net profit, driven by improved earnings contributions from its Malaysian operations.

EcoWorld's 3Q profit jumps 21% as revenue and margin improve; 10-month sales exceed FY2024 target

The US has no immediate plans to withdraw a mid-range missile system deployed in the Philippines, despite Chinese demands, and is testing the feasibility of its use in a regional conflict, sources with knowledge of the matter said.

US keeps missile system in Philippines after joint exercises as China tensions rise, tests wartime deployment

The Malaysian Bar Council has raised concerns over the ongoing delay in the appointment of a new Chief Judge of Malaya (CJM) — the third highest position in the judicial hierarchy — saying it should be expedited to ensure effective administration of justice and continued public confidence in the country's legal system.

Malaysian Bar calls for appointment of new chief judge to be expedited after seven-month vacancy

Agricultural and industrial chemicals manufacturer Ancom Nylex Bhd (KL:ANCOMNY) is acquiring a 70% stake in Colorex Sdn Bhd for RM14 million, cash.

Ancom Nylex acquires 70% stake in specialty chemical player Colorex for RM14m, cash

KUALA LUMPUR (Sept 19): Malaysia welcomes the United Nations’ (UN) decision to implement the International Court of Justice’s (ICJ) ruling to end Israel’s illegal occupation of Palestine.

Malaysia applauds UN resolution backing ICJ ruling on Israel’s occupation of Palestine — ministry

KUALA LUMPUR (Sept 19): Deputy Investment, Trade and Industry&nbsp;secretary-general (Industry) Datuk Hanafi Sakri&nbsp;said&nbsp;Malaysia and Palestine will sign a memorandum of understanding (MOU) to boost bilateral cooperation in several sectors.

Malaysia, Palestine to boost bilateral cooperation in sectors including trade and investment — Miti

BALI (Sept 19): AirAsia announced on Thursday,&nbsp;a long-term partnership with European aircraft manufacturer Airbus, to advance research into aviation sustainability initiatives aimed at reducing carbon emissions in the Asean region.

AirAsia, Airbus partner for Asean aviation sustainability

Prime Minister Datuk Seri Anwar Ibrahim has urged state governments to collaborate with the federal government to achieve the goal of modernising land administration across the country.

PM calls on state govts to work with Putrajaya to modernise land administration

The US Federal Reserve’s (Fed) recent interest rate cut is expected to ease capital inflows into Malaysia, boosting the ringgit and supporting local equities, according to economists and market analysts.

US Fed's 50-bp rate cut seen unleashing funds into Malaysian assets 

BofA Global Research raised its forecast for the Federal Reserve's anticipated interest rate cuts for the remainder of this year to 75 basis points, after the US central bank kicked off a widely expected series of reductions on Wednesday.

BofA now expects US Fed to go for 75-bp cut in 4Q after bumper rate reduction

Sales of existing US homes fell in August to a 10-month low on persistent affordability challenges ahead of a recent decline in mortgage rates.

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualised rate, according to figures released on Thursday from the National Association of Realtors (NAR).

Malaysia's air passenger traffic rose 12.7% year-on-year (y-o-y) to 8.7 million passengers in August this year versus 7.7 million a year earlier, thanks to a surge in international travel driven by expansion of international routes and introduction of new flights, according to the Malaysian Aviation Commission (Mavcom).

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