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Fire sales and defaults deepen Hong Kong commercial real estate crisis
HONG KONG, Aug 18 — Hong Kong’s debt-laden developers and their creditors are set to face intensifying financial pressure as bond maturities are slated to jump by nearly 70 per cent next year amid falling sales and valuations for the
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Qantas hit with Australia’s largest corporate penalty for illegal layoffs
SYDNEY, Aug 18 — An Australian court fined Qantas A$90 million (RM247 million) on Monday for illegally laying off 1,800 ground staff during the Covid-19 pandemic, ending a five-year legal battle over the workers’ rights. Federal Court Justice Michael Lee
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Bank Negara to issue open finance draft soon, eyes policy rollout next year, says governor
KUALA LUMPUR, Aug 15 — Bank Negara Malaysia (BNM) will release an Exposure Draft on Open Finance soon and finalise the policy by next year, with the first phase to be rolled out in the interim, subject to industry and
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Chinese hotels turn to hawking food as guests tighten belts
BEIJING, Aug 15 — Every evening, staff at Beiyuan Grand Hotel in Beijing set up street stalls selling freshly-cooked gourmet dishes trying to make up for falling revenue indoors as Chinese consumers and firms cut spending on travel, conferences and
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Norway’s US$2t wealth fund expects to sell more Israeli stocks over Gaza, West Bank conflict
ARENDAL (Norway), Aug 12 — Norway’s US$2 trillion (RM8.5 trillion) sovereign wealth fund, the world’s largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country over the
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China said to urge firms to shun Nvidia H20 chips tied to security risks, Bloomberg News reports
LONDON, Aug 12 — Chinese authorities have urged local companies to avoid using Nvidia’s H20 processors, particularly for government-related purposes, Bloomberg News reported on Tuesday, citing people familiar with the matter. Authorities have sent notices to a range of firms
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Bursa climbs despite Wall Street dips, eyes US inflation data
KUALA LUMPUR, Aug 12 — Bursa Malaysia opened higher today despite a weaker Wall Street overnight performance, ahead of the United States (US) inflation data later this week, as many expect this will dictate the Federal Reserve’s stance on possible
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Ringgit gains against US dollar, major currencies ahead of 2Q GDP release
KUALA LUMPUR, Aug 12 — The ringgit extended its uptrend against the US dollar and major currencies at the opening on Tuesday ahead of Malaysia’s second quarter 2025 gross domestic product (GDP) data to be released on Friday, said an
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Trump delays China tariff hike, extends truce 90 days, according to US media
WASHINGTON, Aug 12 — US President Donald Trump has reportedly signed an order Monday to delay the reimposition of higher tariffs on Chinese goods, hours before a trade truce between Washington and Beijing was due to expire. The halt on
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VCI Global to launch QuantGold encryption platform at Asean AI Summit 2025 in Malaysia
KUALA LUMPUR, Aug 11 — VCI Global Limited is set to unveil QuantGold Data, a military-grade encryption platform aimed at strengthening data sovereignty across the region. The launch will take place at the Asean AI Summit Malaysia 2025, which will
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