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World Bank to end China loans by 2031 as ties shift from lender to ‘knowledge partner’
WASHINGTON, July 1 — The World Bank will phase out its lending to China by 2031, according to the organisation’s new country partnership framework, a source familiar with the matter told AFP yesterday. The source confirmed an earlier report of
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Nasdaq caps strongest quarter since 2020 as AI optimism outweighs inflation fears
NEW YORK, July 1 — The tech-rich Nasdaq capped its best quarter in six years yesterday, rising with other US indices as bullishness over artificial intelligence overcame worries over geopolitics and inflation. The Nasdaq finished yesterday’s session up 1.5 per
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Ringgit opens higher against dollar as US consumer confidence dips below expectations
KUALA LUMPUR, July 1 — The ringgit was firmer against the US dollar in the early session, supported by weaker-than-expected US consumer confidence data that weighed on the greenback. Meanwhile, investors remained cautious ahead of the release of the US
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Public Mutual declares over RM96m in distributions for five funds
KUALA LUMPUR, June 30 — Public Mutual, a wholly-owned subsidiary of Public Bank Bhd, has declared distributions amounting to more than RM96 million for five funds for the financial year ended June 30, 2026. In a statement today, Public Mutual
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China says it is not ‘root cause’ of EU’s economic woes after trade talks
BEIJING, June 30 — China’s foreign ministry said today that the country is not the “root cause” of issues facing the European Union’s economy, following talks in Brussels aimed at avoiding a damaging trade war. China’s large — and growing
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Petronas unlocks over one billion barrels with latest Suriname discoveries
KUALA LUMPUR, June 30 — Petroliam Nasional Bhd (Petronas), through its wholly-owned subsidiary Petronas Suriname E&P B.V. (PSEPBV), has recorded two discoveries and achieved a successful appraisal in Suriname’s offshore Block 52. In a statement today, the national oil and
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China’s factory activity returns to growth in June despite global headwinds
BEIJING, June 30 — China’s factory activity picked up this month, official data showed today, providing a much-needed boost to authorities as Beijing battles to kickstart the domestic economy. The manufacturing sector has faced uncertainty this year from the war
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Tokyo vows ‘appropriate action’ as yen tumbles to weakest level since 1986
TOKYO, June 30 — Japan’s finance minister said today that authorities were ready to take “appropriate action” after the yen hit a 40-year low against the dollar. The currency has been sliding for years and has come under renewed pressure
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‘One-time opportunity’: Why South Korea is betting big on the AI chip boom
SEOUL, June 29 — Huge demand for the components that power artificial intelligence presents South Korea with an opportunity to bolster its chip industry against rivals such as China, analysts say. Seoul announced today massive investments, including for new semiconductor
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Cigarette giant BAT goes on corporate diet to shed 20pc workforce weight, save £600m
LONDON, June 29 — British American Tobacco announced sweeping global job cuts on Monday, saying it will eliminate 5,500 positions and outsource a further 3,500 roles as part of a wide cost-cutting overhaul. The maker of Lucky Strike and Dunhill
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