The European Central Bank cut interest rates again on Thursday as inflation slows and economic growth in the euro zone falters, but gave few clues to its next step, even as investors bet on steady policy easing in the months ahead.

ECB cuts interest rates as growth dwindles

Analysts are keeping a close eye on RHB Bank Bhd’s (KL:RHBBANK) ongoing  bancassurance dispute with Tokio Marine Life Insurance Malaysia Bhd, voicing hope that the matter does not end up being a drawn-out affair.

RHB, Tokio Marine locked in stalemate over bancassurance agreement

Wall Street was little changed on Thursday after hot producer prices data kept a smaller 25-basis point interest rate cut by the Federal Reserve firmly on the table, while vaccine maker Moderna's shares slumped following a downbeat revenue forecast.

Wall Street muted as hot PPI keeps smaller rate cut in view; Moderna slumps

The US Treasury on Thursday announced new proposed rules for a new corporate alternative minimum tax that is expected to generate US$250 billion (RM1.1 trillion) in US revenues over 10 years from about 100 large companies now paying an average rate of just 2.6%.

US Treasury sets rules for 15% minimum tax on biggest, most profitable companies

The global supply-demand dynamics for liquefied natural gas (LNG) is expected to remain tight until 2028, amid a delay in LNG projects and declining natural gas production, said oil and gas specialist Lambert Energy Advisory (LEA).

LNG market to remain tight well into 2028, says O&G specialist

The federal government on Thursday agreed to increase the interim special grant for Sabah and Sarawak from RM300 million to RM600 million starting next year, according to Deputy Prime Minister Datuk Seri Fadillah Yusof.

Putrajaya doubling Sabah, Sarawak special grant allocation to RM600m starting 2025 — DPM Fadillah

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

EVENING 5: Five things you need to know today

Financial fraud investigator Richard Templeman said 1Malaysia Development Bhd (1MDB) has only paid Aabar Investment PJS Ltd, also known as the fake Aabar, US$2.2 billion and not US$3.5 billion as the fund claimed, based on his own findings.

Fraud investigator says 1MDB only paid US$2.2 bil to fake Aabars, not US$3.5 bil

US presidential contender Donald Trump's plan to hike tariffs on imports if he is elected back to the White House in November would send cargo rates soaring and accelerate inflation, just like it did during his 2017-21 term, shipping and retail experts said.

Trump's plan to hike tariffs would spike shipping costs, just like in 2018, experts say

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

FBM KLCI slips 0.09% to 1,638.31 on Sept 12, 2024

Real estate developers in Malaysia are more positive about the country's property industry outlook for the first half of 2025 (1H2025) compared to the second half of 2024 (2H2024), according to Real Estate and Housing Developers’ Association (Rehda) Malaysia during a media briefing of its Property Industry Survey 1H2024 and Market Outlook for 2H2024 and 1H2025 held at Wisma Rehda, Petaling Jaya on Thursday.

Property developers more optimistic on 1H2025 than 2H2024 — Rehda survey

Share markets enjoyed a fourth straight day of gains on Thursday as the prospect of another ECB rate cut pinned shorter-term euro zone borrowing costs near to their lowest level since the end of 2022, and the euro to a four-month nadir.

Tech takes stocks higher as ECB prepares for rate cut

The fund management industry has surpassed the trillion-ringgit milestone since February this year, driven by robust performance in the equity markets, especially due to strong valuations in the United States, according to the Securities Commission Malaysia (SC).

Fund management industry surpassed trillion-ringgit benchmark in February — SC

China is poised to cut interest rates on more than US$5 trillion (RM21.7 trillion) of outstanding mortgages as early as this month, according to people familiar with the matter, as it accelerates a move to reduce the borrowing costs for millions of families to spur consumption.

China to cut rates on US$5 tril mortgages as soon as September — Bloomberg

General Motors Co (GM) is in discussions to buy electric vehicle (EV) batteries that would use technology from China’s Contemporary Amperex Technology Co (CATL) and be assembled at a new plant slated to be built in the US, according to people familiar with the matter.

GM in talks to buy Chinese batteries made in US by Japan’s TDK

Microsoft said its cloud-based productivity software suite, which includes Word, Excel and Teams, among other widely used tools, has recovered after an outage impacted thousands of users on Thursday.

Microsoft says productivity software suite recovered after outage

The Sabah government has welcomed the RM300 million increase in the interim special grant from the federal government for next year.

Chief Minister Datuk Seri Hajiji Noor said this was announced by Prime Minister Datuk Seri Anwar Ibrahim during the Malaysia Agreement 1963 Implementation Action Council (MTPMA63) meeting here on Thursday.

Sabah welcomes RM600 million interim special grant from federal govt

Delta Air Lines Inc expects its full-year profit to be at or above the midpoint of its prior guidance, excluding the impact of a midsummer computer system outage, suggesting the carrier doesn’t see much lingering impact from a glitch that led to thousands of flight cancellations.

Delta sees annual profit trending higher despite tech outage

Harvey Weinstein has been hit with new criminal charges in New York, a prosecutor said in court on Thursday, as the Manhattan district attorney's office prepares to retry the former movie mogul following the reversal of his rape conviction.

Harvey Weinstein charged in New York with additional crimes, says prosecutor 

UniCredit SpA’s investment in Commerzbank AG shouldn’t have come as a surprise to the relevant parties, the Italian lender’s chief executive officer Andrea Orcel said in a bid to address some concerns after disclosing a 9% stake in the German bank.

Germany knew UniCredit had Commerzbank stake, says Orcel 

Wheat futures jumped as much as 2.2% after Ukraine said Russia hit a grain ship with a missile.
 
President Volodymyr Zelenskiy said on Telegram a ship carrying wheat to Egypt was struck as soon as it left Ukrainian waters.

Wheat hits two-month high after Ukraine says Russian missile strikes ship

SUBANG (Sept 12): SIA Engineering Co Ltd (SIAEC), the maintenance, repair and overhaul (MRO) arm of Singapore Airlines Ltd, said less than 10% of its new hires in the country came from Malaysia Airlines’ engineering arm.

Less than 10% of our technical staff are from Malaysia Airlines, says SIA’s engineering unit amid poaching concerns

Oil and gas exploration and production group Hibiscus Petroleum Bhd (KL:HIBISCS) is proposing an additional one sen dividend per share for the financial year ended June 30, 2024 (FY2024).

Hibiscus raises FY2024 dividend to 8.5 sen, sees at least 8 sen payout for FY2025

Selection of the technology provider for the Kuala Lumpur-Singapore high-speed rail (HSR) is still open, said MyHSR Corporation Sdn Bhd chief executive officer Datuk Mohd Nur Ismal Mohamed Kamal.

Selection still open for KL-Singapore high-speed rail technology provider — MyHSR CEO

Any decision&nbsp;on the proposal to make&nbsp;halal certification mandatory for all restaurants and food operators is under the jurisdiction of the Conference of Rulers, according to Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

He said the&nbsp;issue should not be turned into polemics, as it is still in the proposal phase and had yet to become&nbsp;a permanent policy.

Conference of Rulers to have final say on mandatory halal certification, says Zahid

Chin Hin Group Bhd (KL:CHINHIN)’s founder Datuk Seri Chiau Beng Teik has ceased to be a substantial shareholder in NCT Alliance Bhd (KL:NCT) after selling a 3.58% stake in the construction and property development company.

Chin Hin founder Chiau Beng Teik ceases to be substantial shareholder in NCT Alliance

IOI Properties Group Bhd (KL:IOIPG) is going to launch its IOI Industrial Park at Banting, Selangor by the second quarter of next year and is planning another one in Melaka that is expected to be launched two quarters later.

IOI Properties plans more industrial parks as it eyes 20% revenue contribution from the segment

Financial fraud investigator Richard Templeman said 1Malaysia Development Bhd (1MDB) has only paid Aabar Investment PJS Ltd, also known as the fake Aabar, US$2.2 billion and not US$3.5 billion as the fund claimed, based on his own findings.

WTEC Group Bhd, a foam and fabric products maker, filed for an initial public offering (IPO) on the ACE Market to raise funds for acquisition of a new, larger factory in Selangor.

Foam products maker WTEC Group files for IPO on ACE Market

China has strongly advised its carmakers to make sure advanced electric vehicle (EV) technology stays in the country, people familiar with the matter said, even as they build factories around the world to escape punitive tariffs on Chinese exports.

Chinese carmakers advised to keep key EV technology at home — Bloomberg

The Road Transport Department (JPJ) seized 21 luxury multi-purpose vehicles (MPVs) used for operating illegal taxi services during a special operation against illegal taxis conducted in the Klang Valley from Sept 2 to 6.

JPJ seizes 21 luxury MPVs in crackdown on illegal taxis 

India's palm oil imports in August fell more than a quarter from a month ago, primarily driven by sufficient domestic stocks and negative margins that discouraged refiners from purchasing more of the tropical oil, a leading trade body said on Thursday.

India's palm oil imports plunge as buyers shift to soyoil

German Chancellor Olaf Scholz said he’s asked the European Union (EU) to suspend a new regulation designed to reduce deforestation to allow objections raised about the burden on the print sector to be addressed.

Germany's Scholz asks EU to delay deforestation law over print concerns

NEXTDC Ltd, an Australian data-centre operator, is seeking a A$2.9 billion (US$1.9 billion or RM8.38 billion) syndicated loan from banks to expand its operations in Asia.

NEXTDC seeks US$1.9b loan to expand data centres in Asia, including Malaysia

Utilities engineering services firm MN Holdings Bhd (KL:MNHLDG) has signed a pact with Reservoir Link Energy Bhd (KL:RL) to explore potential business opportunities in the renewable energy sector.

MN Holdings, Reservoir Link to jointly explore renewable energy business

The fund management industry has surpassed the trillion-ringgit milestone since February this year, driven by robust performance in the equity markets, especially due to strong valuations in the United States, according to the Securities Commission Malaysia (SC).

KUALA LUMPUR (Sept 12): ITMAX System Bhd (KL:ITMAX) said on Thursday that its subsidiary has been appointed to operate a parking system in Tangkak, by the district council.

ITMAX System gets third parking system contract in Johor

The 1Malaysia Development Bhd (1MDB)-Tanore trial has been postponed yet again, as former prime minister Datuk Seri Najib Razak is still nursing an acute knee inflammation in a hospital.

1MDB-Tanore trial postponed once again as Najib still unfit for court

China is poised to cut interest rates on more than US$5 trillion (RM21.7 trillion) of outstanding mortgages as early as this month, according to people familiar with the matter, as it accelerates a move to reduce the borrowing costs for millions of families to spur consumption.

Real estate developers in Malaysia are more positive about the country's property industry outlook for the first half of 2025 (1H2025) compared to the second half of 2024 (2H2024), according to Real Estate and Housing Developers’ Association (Rehda) Malaysia during a media briefing of its Property Industry Survey 1H2024 and Market Outlook for 2H2024 and 1H2025 held at Wisma Rehda, Petaling Jaya on Thursday.&nbsp;

Private equity firm Creador Sdn Bhd has signed an agreement with CCK Consolidated Holdings Bhd (KL:CCK) for a RM163.1 million investment to acquire a 40% stake in the poultry company's Indonesian unit, PT Adilmart Tbk.

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