Festivals at malaysia

U.S. stocks again started the day mixed after a report said that U.S. retail and food services fell more than expected last month. Investors are also digesting a slew of quarterly earnings reports from banks, as JPMorgan Chase & Co. ( JPM ) and Citigroup Inc. ( C ) recorded income declines, while Wells Fargo & Company ( WFC ) said that profit jumped. The Dow Jones Industrial Average (DJIA) and the S&P 500 are poised to finish the week lower, while the Nasdaq may end up higher for the week. All three major indexes finished lower yesterday. Key Takeaways Stocks are mixed again this morning, with the Nasdaq gaining and the Dow and S&P 500 falling. Retail and food sales sank 1.9% in December, marking the biggest drop in 10 months. JPMorgan and Citigroup reported falling quarterly profit, while Wells Fargo reported fourth quarter profit that beat analysts' forecasts. The University of Michigan will release its Consumer Sentiment Index for … [Read more...] about Stocks Mixed as Retail Sales Drop Most in 10 Months

Entrepreneur and Cooperative Development Minister Tan Sri Noh Omar - A + A SHAH ALAM (May 16): Entrepreneur and Cooperative Development Minister Tan Sri Noh Omar said his ministry plans to provide a special scheme to help graduate entrepreneurs. “I will tell you about this (assistance) later but we are discussing it because, for example, we (already) have a scheme for the informal sector. “So, it is time we have a special scheme for entrepreneurs among our local graduates,” he said. Noh said this to the media at the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) Minister’s Aidilfitri Celebration, which was also attended by Prime Minister Datuk Seri Ismail Sabri Yaakob here on Monday (May 16). He also said his ministry would continue to help entrepreneurs with various forms of assistance provided by the government, especially when the country’s economic activities are now back to normal. “If we do not have time this year, we will request … [Read more...] about KUSKOP plans to provide special scheme to help graduate entrepreneurs

- A + A (May 16): The rupiah risks weakening to its lowest level in almost two years as Indonesia’s ban on palm oil exports adds to headwinds from interest rate hikes in the US. The currency fell to a one-year low last week, despite an assurance from the central bank that it would stabilize the currency. Technical support at its April 2021 low is now in danger and a breach of this level would pave the way for a decline to its September 2020 low. Investors are watching for further export restrictions and rising demand for the dollar, said Divya Devesh, head of Asean and South-Asia FX research at Standard Chartered Bank in Singapore. He sees the rupiah depreciating to 14,800 to the greenback by the end of June, from 14,613 on Friday. Palm oil accounted for 1.5% of Indonesia’s gross domestic product in 2021 and the prohibition on shipments could cut US$2 billion from the nation’s exports for each month it stays in place, according to estimates from Goldman Sachs … [Read more...] about Rupiah nears breach of support with palm oil ban hurting trade

- A + A (May 16): The US Commerce Department is deepening its probe into whether solar power companies are circumventing import tariffs, singling out some of the industry’s giants for increased scrutiny. The agency identified eight manufacturers, including industry leaders Longi Green Energy Technology Co, Trina Solar Co and Jinko Solar Co, for mandatory questionnaires to plumb for more information on whether they are skirting US tariffs on China-made solar products by assembling them in Southeast Asia. The probe has already roiled the US solar industry and thrown a wrench into decarbonisation plans, with companies halting projects and cancelling shipments in the face of potentially hefty extra tariffs. The world’s largest solar manufacturers, mostly based in China, are diverting their focus and products to the rising European market amid the US disruptions. Shares of major Chinese solar companies fell on Monday, with Jinko stumbling as much as 5.3%, Trina … [Read more...] about US deepens China solar tariff probe with scrutiny of 8 firms

- A + A (May 16): As spiraling inflation spreads across the globe, emerging-market bonds from Turkey to Thailand are feeling the brunt. Local-currency debt from developing nations -- which is far more sensitive to a country’s domestic inflationary pressures than dollar denominated equivalents — has slumped almost 9% this year, the most since at least 2008, according to a Bloomberg index. There’s unlikely to be any relief soon as central bankers around the world attempt to control surging prices by raising interest rates even more aggressively — potentially risking growth in doing so. That certainly wasn’t the plan. Many developing economies led the charge in rate hikes last year, getting ahead of policy makers in the US and hoping to avoid a redux of the 2013 taper tantrum. But with inflation raging in the US and the strong dollar pressuring currencies elsewhere, these countries are now making a new rulebook. Policy makers across emerging nations are either … [Read more...] about Bond traders reel as inflation hits world’s emerging local debt

- A + A MELBOURNE (May 17): Chevron Corp's Gorgon carbon capture and storage (CCS) project in Australia is working at only half its capacity nearly three years after starting up and the company has no timeframe for delivering on targets it has so far failed to meet, a senior executive said. The world's largest CCS project, which started up three years late, is being closely watched by the gas industry globally as carbon capture and storage is seen as essential for producers to meet net zero emissions targets by 2050. Gorgon CCS had originally been slated to be fully operational by last year when the project faced its first five-year rolling assessment. Instead, it was forced to buy carbon credits for falling short of goals for burying emissions from the Gorgon liquefied natural gas (LNG) plant. The project was designed to bury 4 million tonnes of carbon dioxide (CO2) annually but only managed 2.1 million tonnes last year. "We've still got a ways to go to meet the … [Read more...] about Chevron says world’s largest carbon capture project has ‘a ways to go’ to meet goals

Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah with President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan (2nd right) at Mushrif Place, Abu Dhabi, UAE on Monday, May 16, 2022. (Photo credit: [email protected] Negara) - A + A KUALA LUMPUR (May 16): Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah on Monday (May 16) departed to visit the President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan at Mushrif Place, Abu Dhabi at around noon local time. According to Comptroller of the Royal Household for Istana Negara Datuk Ahmad Fadil Shamsuddin, His Majesty was received by Sheikh Mohamed bin Zayed Al Nahyan. “During the face-to-face meeting that lasted almost an hour, His Majesty conveyed his condolences to the President and the UAE government, and congratulated Sheikh Mohamed Zayed Al Nahyan on his appointment as the new President and head of state of the UAE,” … [Read more...] about Agong meets with new UAE President in Abu Dhabi

AIZA Seguerra (left) and Liza Diño get giggly at their “symbolic” wedding in Batangas on Thursday. INQSnap this page for more photos! SAN JUAN, Batangas—The bride, actress and beauty titlist Liza Diño, was aware enough to call it “a symbolic ceremony” rather than a wedding rite, since same-sex marriage is still not legal in the Philippines. But the giggles, tears and that final kiss were all heartfelt—as though Diño indeed got married to actress-singer Aiza Seguerra. The event, held in Kota Keluerga here in Laiya on Thursday afternoon, was witnessed by the bride’s parents, Martin Diño and Marissa Bautista, and the groom’s, Dick and Caring Seguerra, as well as over 500 relatives and friends. AIZA and her family (from right): Dad Dick, brother Juanchi and mom Caring US wedding The couple was first married on Dec. 8 in San Francisco, California, where same-sex marriage was legalized in June 2008 (retracted in November that same year, and resumed in 2013). “We’re doing … [Read more...] about Aiza Seguerra, Liza Diño wed a second time

Representative image Millions of salaried employees will not be required to wait till the end of 2022 to get their FY22 PF interest credited to their account as the employees’ provident fund organisation (EPFO) is expected to complete the process well in advance. This is largely due to two factors. First, the 8.1% interest rate for FY22 is the lowest in 43 years, and hence unlikely to face scrutiny from the finance ministry. Secondly, crediting interest rate of 8.1% earlier will benefit EPFO’s financial health as the outgo will be less during PF claim settlements, at least two government officials said requesting anonymity. EPFO under the labour ministry may disburse the interest rate ahead of Dusshera-Diwali festive season, one of the two officials cited above said. “I don’t think the finance ministry will have much of a problem in giving formal approval to 8.1% interest rate. Expect the credit of interest pay-out happening earlier this year,” said one of the officials. … [Read more...] about Exclusive | EPFO interest rate credit likely to happen earlier than previous years

SCGP is producing more fiber packaging to meet growing demand. SCGP SCG Packaging Plc (SCGP) plans to spend 2.45 billion baht increasing its fibre packaging production capacity by 75,000 tonnes per year to meet demand growth as the economy recovers. The new capacity is scheduled for commercial operation in the middle of 2023, said Wichan Jitpukdee, chief executive of SCGP. Its latest investment is meant to level up SCGP's capabilities to deliver packaging solutions to customers, he said. The investment will also help the company maximise its asset utilisation and further develop production techniques with help from robotics and automation technologies as well as printing applications. Mr Wichan said the investment, which will be made through Thai Containers Group Company Ltd, a 70:30 joint venture between SCGP and Japan-based Rengo Company Ltd, will support machinery installation and be used as working capital. SCGP expects demand for corrugated cartons in Thailand to … [Read more...] about SCGP allots B2.45bn for output hike