The European Union (EU) is working on a new sanctions package that will target the Russian financial sector in the latest effort by Ukraine’s allies to place pressure on President Vladimir Putin to negotiate a peace deal to end the war.

EU prepares sanctions on third-party banks supporting Russia

KUALA LUMPUR (May 16): Here is a brief recap of some corporate announcements and happenings that made the headlines on Friday:

Maxis Bhd’s (KL:MAXIS) net profit rose 5% to RM371.1 million for the first quarter ended March 31, 2025 (1QFY2025) from RM353 million a year before, thanks most...

Maxis, PIE Industrial, Mi Technovation, CSC Steel, Avillion, MRCB, Hextar Capital, TNB, Magma, Pekat, EG Industries, Samaiden, BTM Resources, Gamuda

New Jersey Transit locomotive engineers started striking early on Friday, triggering a shutdown of the agency’s rail service and disrupting travel for hundreds of thousands of commuters.

NJ Transit train engineers strike, disrupting travel to New York City

Minister of Tourism, Arts and Culture Datuk Seri Tiong King Sing has called for stronger support and investment in Malaysia’s nursing workforce, describing nurses as the “architects of the future healthcare landscape".

Nurses the architects of Malaysia’s future healthcare landscape, says Tiong

Prime Minister Datuk Seri Anwar Ibrahim has called on Islamic nations to strengthen cooperation with their neighbouring countries, taking inspiration from the Asean model.

Anwar urges Muslim nations to embrace Asean-style cooperation 

(May 16): The world’s biggest sugar trader slashed its forecast for a global surplus in the coming season, cautioning that the market was underestimating risks from weather and transportation in top grower Brazil.

Worldwide output in 2025-26 is now expected to outstrip demand by just 40...

World’s top sugar trader slashes estimate for global surplus

Wall Street's main indexes were subdued on Friday, but were still on track for robust weekly gains buoyed by a US-China tariff truce and cooling inflation, while focus was on a pivotal vote on President Donald Trump's tax legislations.

Wall Street flat; set for strong weekly gains on trade optimism

US consumer sentiment unexpectedly fell to the second-lowest level on record and inflation expectations climbed to multi-decade highs amid growing concerns about tariffs.

US consumer sentiment falls close to record low on inflation

The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) has proposed that permanent appointees under the new Public Service Remuneration System (SSPA) be given monthly basis or lump sum options for their retirement payments, subject to conditions and eligibility.

Cuepacs proposes flexible retirement payout options under new SSPA

US housing starts increased in April as a pickup in multifamily home construction more than offset a decline in single-family dwellings caused by elevated inventory.

US housing starts increase in April on pickup in construction of multifamily home 

Avillion Bhd (KL:AVI) plans to raise RM11.5 million through a private placement of 283 million new shares to refurbish one of its main hotels, Avillion Port Dickson. This plan requires shareholders’ approval.

Avillion, owned by late Daim’s son, plans RM11.5m placement to upgrade Port Dickson hotel

Bursa Malaysia Bhd (KL:BURSA), the operator of the country's bourse, said its chief financial officer (CFO) Rosidah Baharom will step down from the role, effective May 17.

Bursa Malaysia CFO Rosidah Baharom to step down after 11 years

KUALA LUMPUR (May 16): Here is a brief recap of some corporate announcements and happenings that made the headlines on Friday:

Maxis Bhd’s (KL:MAXIS) net profit rose 5% to RM371.1 million for the first quarter ended March 31, 2025 (1QFY2025) from RM353 million a year before, thanks most...

CSC Steel Holdings Bhd (KL:CSCSTEL) posted a 44.2% year-on-year jump in its first quarter net profit, despite weaker revenue, thanks to lower raw material costs.

CSC Steel flags challenging outlook after 44% profit jump on lower raw material costs in 1Q

Samaiden Group Bhd (KL:SAMAIDEN) has secured a RM108.6 million contract to carry out engineering, procurement, construction and commissioning (EPCC) works for the development of a large-scale solar photovoltaic (LSSPV) project.

Samaiden bags RM108.6 mil EPCC job for large-scale solar project

Emerging-market stocks are “the next bull market” as they benefit from a weaker dollar and an economic recovery in China, according to Bank of America Corp’s Michael Hartnett.

BofA’s Hartnett says EM stocks will outperform everything else

Tropicana Corp Bhd (KL:TROP) has appointed renowned architecture, engineering and urban planning firm Skidmore, Owings &amp; Merrill (SOM) to lead the transformation of its 163-acre Lido Waterfront Boulevard masterplan in Johor.

Tropicana appoints architecture firm Skidmore, Owings & Merrill to design Lido Waterfront Boulevard in Johor

Mi Technovation Bhd (KL:MI), a semiconductor solutions provider, reported a 34.4% year-on-year drop in its first quarter net profit, due to unfavourable foreign exchange (forex) movements, lower interest income and increased tax expenses.

Mi Technovation records sharp 1Q profit drop amid forex headwinds

PIE Industrial Bhd’s (KL:PIE) net profit jumped 54.8% in the first quarter of 2025, thanks to higher demand from its existing customers and lower provision for slow-moving inventories.

PIE Industrial’s 1Q earnings surge 55% on higher demand, lower provision for slow-moving inventories

Samaiden Group Bhd (KL:SAMAIDEN) announced the mutual termination of its letter of award (LOA) from BTM Resources Bhd (KL:BTM) for the construction of a 10-megawatt (MW) biomass power plant.

Samaiden, BTM Resources mutually call off 10MW biomass power plant project

Oasis Home Holding Bhd is the latest initial public offering (IPO) to have received lukewarm investor interest, with an oversubscription rate of 0.55 times.

Oasis Home’s ACE Market IPO shares oversubscribed by 0.55 times

The Korea National Oil Corporation (KNOC) — South Korea's state-owned oil and gas company — will join 3D Energi Ltd and ConocoPhillips Australia's joint venture in Australia to hunt for new gas resources in the Otway Basin. 3D Energi is a 9.34%-owned associate of Hibiscus Petroleum Bhd (KL:HIBISCS).

South Korea's KNOC joins Hibiscus associate 3D Energi and ConocoPhillip in Australia gas hunt

Minister of Tourism, Arts and Culture Datuk Seri Tiong King Sing has called for stronger support and investment in Malaysia’s nursing workforce, describing nurses as the “architects of the future healthcare landscape".

While Bank Negara Malaysia (BNM) has not cut the gross domestic product (GDP) growth forecasts, most economists see the domestic economic expansion slowing down to the 4% level.

Economists see 2025 GDP growth decelerating to 4% on trade tensions, slower exports

Acme Holdings Bhd (KL:ACME) is selling a 5.86-acre parcel together with a building atop in Perai, Penang, for RM22 million cash to Nation Robo Sdn Bhd.

Acme Holdings to sell 5.85-acre land in Penang for RM22m

Wall Street's main indexes were subdued on Friday, but were still on track for robust weekly gains buoyed by a US-China tariff truce and cooling inflation, while focus was on a pivotal vote on President Donald Trump's tax legislations.

US consumer sentiment unexpectedly fell to the second-lowest level on record and inflation expectations climbed to multi-decade highs amid growing concerns about tariffs.

Can politicians do whatever they want to the Federal Constitution? Does it have an ‘essence’ which cannot be destroyed through amendment?

Opinion: A Malaysian doctrine

The Enforcement Agency Integrity Commission (EAIC) has uncovered misconduct in the handling of investigation files by an officer from the Department of Fisheries Malaysia (DOF) at the Port Klang District Fisheries office, Resource Protection Branch.

EAIC uncovers misconduct by DOF, MMEA officers, recommends disciplinary action

A batch of US retail earnings reports in the coming week is set to shed more light on the economic fallout from the shifting tariff backdrop and test the stock market's sharp rebound.

Retailers set to give tariff view as US stock market roars back

I have been asked recently the age-old question: is there a best time to list a company? This is something that resurfaces often, especially with current narratives surrounding global trade tensions, tariff uncertainties and a shifting economic landscape.

During a Hari Raya open house, ...

MY Say: Preparing for an IPO: What timing really means

Some say the US’ sweeping tariffs and increasingly protectionist stance are aimed at achieving long-term economic security, while others argue they serve strategic geopolitical interests. At its core, however, President Donald Trump’s “America First” agenda has centred on reviving “Made in USA”, ...

Econtemplation: ‘Made by Malaysia’ approach trumps the ‘Made in USA’ way

IN the wee hours of the morning on April 24, hours before the market opened at Bursa Malaysia, a WhatsApp message on Bina Puri Holdings Bhd (KL:­BPURI) was being circulated. The message read, “Bank suing, originating summons on Bina Puri. Exim RM20 million. Can’t settle.”

That Thursday ...

Cover Story: Bina Puri in the spotlight

BINA Puri-Warrant B is generally thinly traded, with periods of no transactions being a common occurrence. This trend persisted for most of the first quarter this year.

In late April, however, after seeing 12 consecutive sessions of inactivity, the warrants experienced a sudden surge in...

Cover Story: What happened in the trading of Bina Puri shares and Warrant B on April 24 

ACCORDING to the electronic records that Datuk Z provided to The Edge, the fraudulent trades were executed primarily as the market opened on March 11, targeting two Hang Seng Index put warrants: HSI-PWD4 and HSI-PWDU.

According to a public notice from their issuer — the same foreign inv...

Cover Story: How the March 11 trades made using Datuk Z’s online trading account unfolded 

WITHIN three minutes of the market opening at Bursa Malaysia on March 11, more than RM0.5 million worth of Hang Seng Index put warrants — HSI-PWD4 and HSI-PWDU — were purchased through an online trading account belonging to “Datuk Z”.

The problem is, he did not execute the orders. Inste...

Cover Story: How safe is online trading?

On May 28 last year, Prime Minister Datuk Seri Anwar Ibrahim announced the formation of an inaugural Malaysian social exchange. A social exchange provides a platform where social entities (SEs) such as non-governmental organisations (NGOs) can secure capital from impact investors and various othe...

MY Say: The case for a social exchange over traditional crowdfunding

The fundamental challenge of any consumer goods business is, “How do we get our products into consumers’ hands?” Leading Malaysian retailers are overcoming hurdles common to the sector — fragmented channel structure, lack of scale and the need to keep up with constant innovation — with winning go...

Growing Champions: Winning go-to-market strategies for home-grown retailers

A week before last Christmas, just a month after Donald Trump won the US presidential elections, shares in electric vehicle (EV) pioneer Tesla Inc, run by his most vocal supporter Elon Musk, touched an all-time high of US$488. That valued Tesla at over US$1.5 trillion (RM6.5 trillion), or more th...

Tech: Imagining Tesla without Elon Musk 

Sabah’s residential property market ended last year in a strong position and this steady growth is expected to continue.

“The Sabah residential property market ended 2024 with a strong performance driven by an exceptional fourth quarter performance,” says Rahim & Co regional manager...

The Edge Malaysia

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