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Ringgit at RM3.95 to USD as Strait of Hormuz assurances buoy sentiments
KUALA LUMPUR, May 4 — The ringgit strengthened against regional peers at the close as investors’ risk appetite improved, underpinned by growing confidence in safe passage through the Strait of Hormuz. At 6pm, the local currency also firmed to 3.9540/9575
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UAE says Opec exit ‘not directed against anyone’, cites shift to national priorities
ABU DHABI, May 4 — The UAE’s shock decision to leave Saudi-dominated Opec was not targeted at anyone, the UAE minister who heads the state oil giant said today. The move aimed at focusing on national priorities and the UAE
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OpenAI co-founder Brockman takes the stand Elon Musk lawsuit enters week two
OAKLAND, May 4 — Following high-profile testimony from billionaire Elon Musk last week, one of OpenAI’s co-founders will testify Monday in the California lawsuit brought by the world’s richest man against the creators of ChatGPT. Musk is seeking to force
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GameStop makes US$55.5b takeover bid for eBay to challenge Amazon
NEW YORK, May 4 — US video game retailer GameStop made a takeover bid yesterday to buy eBay for about US$55.5 billion (RM220 billion) in an attempt to turn the online marketplace into a competitor to e-commerce giant Amazon. GameStop is
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Vietnam’s inflation accelerates in April, trade deficit widens as West Asia crisis lingers
HANOI, May 3 — Vietnam’s consumer prices rose 5.46 per cent in April from the same month last year, government data showed today, accelerating from 4.65 per cent in March, fuelled by higher energy costs due to the Iran war.
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Opec+ to make first post-UAE production decision, as Iran blockade continues to take a toll
VIENNA, May 3 — Seven Opec+ members are meeting today to make their first decision on oil-production quotas since the United Arab Emirates’ departure from the cartel, which added to the soaring price pressure unleashed by the Mideast war. The
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While Asia and Europe scramble for natural gas, the US glut has nowhere to go
WASHINGTON, May 2 — The war with Iran has boosted prices of globally traded natural gas by throttling exports from the Gulf. In West Texas, gas is so abundant that some producers must pay to have it taken away. The
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Japan steps into forex market with over RM127b to prop up yen, reports say
TOKYO, May 2 — Japan spent at least ¥5.0 trillion (RM127 billion) in the foreign exchange market, according to multiple reports, in its first intervention to prop up the currency since 2024. The yen, trading just shy of ¥160 to
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Ringgit rise and IMF upgrade reflect global confidence in Malaysia’s economy, says MOF’s political secretary
KUALA LUMPUR, May 2 — The continued strengthening of the ringgit and the improved economic projections by the International Monetary Fund (IMF) indicate the fundamental strength of the country’s economy and investor confidence in the direction of the Malaysia Madani
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Aviation industry’s first Iran war casualty: US‑based Spirit Airlines collapses after creditors reject US$500m bailout
WASHINGTON, May 2 — Bankrupt discount carrier Spirit Airlines ceased operations today, the industry’s first casualty linked to the Iran war, after failing to secure creditor support for a US government bailout plan. The collapse of the first carrier due
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