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Markets
Bursa Malaysia mixed at midday break, key index up
KUALA LUMPUR: Bursa Malaysia turned mixed at the midday break with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.
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Telcos
Dialog Axiata inks deal to acquire Airtel Lanka via share swap
KUALA LUMPUR: Axiata Group Bhd's Sri Lankan unit Dialog Axiata PLC will acquire rival telco Airtel Lanka from Bharti Airtel Limited in exchange for 10.355% of the total issued shares in Dialog.
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Markets
ACE Market-bound Sin-Kung targets RM26mil in proceeds from IPO
KUALA LUMPUR: Sin-Kung Logistics Bhd aims to raise RM26mil from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.
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Markets
Smart Asia to issue 93.5mil shares, en route to ACE Market listing
KUALA LUMPUR: Smart Asia Chemical Bhd (Smart Asia) has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.
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Corporate News
Matrade to organise halal showcase in Dubai
KUALA LUMPUR: The Malaysia External Trade Development Corp (Matrade) is making its maiden attempt to internationalise the Malaysia International Halal Showcase (Mihas) by taking it to Dubai this year.
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Markets
Feytech inks underwriting deal with TA Securities, AmInvestment Bank
KUALA LUMPUR: Feytech Holdings Bhd has entered into an underwriting agreement with TA Securities Holdings Bhd and AmInvestment Bank Bhd for the company's initial pulic offering (IPO) on the Main Market of Bursa Malaysia.
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Forex
Ringgit extends gains to open higher against US$
KUALA LUMPUR: The ringgit extended Wednesday’s gains to open higher against the US dollar today as the greenback retreated from multi-month highs after a pullback in US Treasury yields, said an analyst.
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Analyst Reports
Loan applications for property take a breather in Feb
KUALA LUMPUR: Recent loan application data released by Bank Negara showed a drop off in loan applications for property purchases in February, on the heels of a robust increase in January.
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Markets
Upsides on Bursa capped by negative global sentiment
KUALA LUMPUR: An extended rebound on Bursa Malaysia was capped on Thursday as investors priced down equities amid a more hawkish outlook on the global interest rate environment.
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Commodities
Oil settles down as demand worries outweigh Mideast supply risks
Oil prices settled down 3% on Wednesday, pressured by a rise in US commercial inventories, weaker economic data from China and US progress on Ukraine and Israel aid bills.
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Markets
US stocks fall as rate uncertainty, earnings weigh
US stocks fell in choppy trading on Wednesday as investors assessed the Federal Reserve's interest rate stance and a batch of soft earnings early in the financial reporting season.
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Analyst Reports
Trading ideas: Maxis, Bank Islam, Malaysian Flour Mills, Menang, HeiTech Padu, Reservoir Link, MGRC, IGB REIT, Affin Bank and Excel Force
KUALA LUMPUR: Corporates making news headlines include Maxis, Bank Islam, Malaysian Flour Mills, Menang, HeiTech Padu, Reservoir Link, MGRC, IGB REIT, Affin Bank and Excel Force.
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Economy
Germany turns the corner, says Lagarde
European Central Bank President Christine Lagarde says the German economy may be starting to recover after being rocked by a series of shocks in recent years.“It looks as if Germany might have turned the corner,” Lagarde said in an interview with CNBC in Washington.
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Corporate News
Demand for Louis Vuitton handbags, Cognac dips
LVMH sales growth slowed at the start of the year as wealthy consumers reined in spending on pricey Louis Vuitton handbags and Hennessy Cognac.
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Corporate News
Australia’s Rinehart takes stake in Lynas Rare Earths
Australia’s richest person, Gina Rinehart, has become a substantial shareholder in Lynas Rare Earths, the largest producer of rare earths outside of China, an exchange filing shows.
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Economy
Kiwi inflation slows yet price pressures persist
New Zealand home-grown price pressures persisted in the first quarter even as headline inflation slowed to its weakest in almost three years.
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Energy
State Grid Corp keen on cutting CO2 emissions
State Grid Corp of China, the world’s largest utility which shoulders a dual task of safeguarding the country’s energy security as well as serving as an economic lifeline, has made innovations in helping enterprises develop new quality productive forces and save electricity expenses.
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Economy
Canadian businesses in uproar over capital gains tax increase
Canada’s decision to increase capital gains taxes was criticised by businesses, who warn the move will only exacerbate the country’s investment and productivity woes.
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Economy
Big savings for Vietnam from eco-industrial conversion
The conversion of existing industrial zones into eco-industrial zones contributed to savings of nearly 70 billion dong (US$2.76mil) annually in Vietnam during 2020-2024, according to the Planning and Investment Ministry and the United Nations Industrial Development Organisation (Unido).
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Corporate News
Advanced solid-state batteries a mutual ambition of carmakers
Chinese electric vehicle (EV) makers are rapidly adopting solid-state batteries in their latest models, with industry experts anticipating full use of this superior solution for the next generation of batteries by 2030.