Malaysia Financial News

Narendra Modi will visit Indonesia's capital Jakarta on September 6 and 7 to attend the ASEAN-India and East Asia summits, said the Ministry of External Affairs in an official statement on Saturday. Shoring up India's trade and security ties with the 10-nation Association of Southeast Asian Nations (ASEAN) is likely to be the focus of Modi's engagement with leaders of the bloc, according to PTI reports.

City is set to face Fulham in their last Premier League match before the upcoming international break. Thus far, Manchester City has maintained an impeccable Premier League record this season, securing victories against Burnley, Newcastle United, and Sheffield United in their previous matches. Fulham, on the other hand, has also demonstrated a strong start to the season, remaining undefeated in league competition. Despite playing with 10 men, they managed to secure a 2-2 draw against Arsenal in their last outing. Additionally, Fulham had a noteworthy performance in the Carabao Cup this week, eliminating Tottenham in a penalty shootout. In the previous encounter against City last November, Fulham narrowly lost due to a 90th-minute penalty from Erling Haaland. Therefore, they aim to pose a formidable challenge to Pep Guardiola's team once again.

Pakistan in the inaugural Men's Hockey 5s Asia Cup 2023 on Saturday. The Indian Team confirmed their spot after a comprehensive 10-4 win over Malaysia in the semifinal on Saturday. Meanwhile, Pakistan reached the Final after defeating Oman 7-3 in the first Semi-Final.

New Delhi, A coalition of institutions from dengue-endemic countries aims to deliver a new treatment for dengue from repurposed drugs and combinations within 5 years, according to a comment published in The Lancet Global Health journal. The mission of the alliance, The Dengue Alliance, is to accelerate research and development and deliver dengue therapeutics through an inclusive partnership, it said. «An integrated approach that comprises vector control, use of safe and effective vaccines, and an effective treatment is needed to face the growing challenges of dengue infection,» the alliance formed by the Drugs for Neglected Diseases initiative (DNDi), Switzerland, said in its comment.

rise in new orders and output pushed manufacturing activity to the second-strongest pace in three years. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose to 58.6 in August compared with 57.2 in July, according to data released Friday. «Robust and accelerated increases in new orders and production suggest that the sector looks set to provide a strong contribution to second quarter (fiscal) economic growth,” said Pollyanna De Lima, Economics Associate Director, S&P Global Market Intelligence. »The PMI results for India painted a vibrant picture of the nation's manufacturing landscape in August," De Lima further added. India’s economic growth strengthened to a four-quarter high of 7.8% in the first quarter, data released earlier this week showed, as the services sector pushed activity. The growth in manufacturing was less pronounced at 4.7% in Q1FY24, compared with 6.1% in the similar quarter last year. Demand strength pushed the new orders to the fastest pace since January 2021, helped by better export performance. «Not only did new export orders increase for the seventeenth month running halfway through the second fiscal quarter, but also to the greatest extent since November 2022,» the release stated, noting that members reported new work from Bangladesh, China, Malaysia, Singapore, Taiwan and the US. Buying levels rose to the fastest level in nearly 12 years, even as input costs rose faster. The increase in charge inflation, or selling prices, was not as fast as input prices as they tried to retain competitiveness.

Global funds purchased $1.6 billion of Indian shares on a net basis last month through Aug. 30, according to the latest exchange data compiled by Bloomberg.

Manufacturing activity in Asia’s major export powerhouses slumped further in August as weak demand persisted in the region’s key trade markets, particularly in China. Factories in North Asia experienced weaker new orders, output and export sales, according to manufacturing purchasing managers’ surveys published Friday by S&P Global and au Jibun Bank. The purchasing managers’ index for trade bellwether Taiwan was little changed at a subdued level of 44.3 last month from 44.1 in July, while South Korea’s gauge slumped to 48.9 from 49.4 during the same period. Seoul reported a similarly gloomy reading on industrial production on Thursday, showing a bigger-than-expected drop in July, marking its longest stretch of output decline yet. Japan’s PMI was unchanged at 49.6, below the 50 mark that separates expansion from contraction.Southeast Asia, which until recently was a bright spot, showed the weak sentiment was rubbing off on factories in the region.

China released the 2023 edition of its 'standard map' on August 28, showing India's Arunachal Pradesh and Aksai Chin as part of its territory. The map also shows China's claims in the South China Sea over the exclusive maritime zones of countries such as Malaysia, Brunei, the Philippines, Indonesia and Vietnam.

India in rejecting China's new national map, issuing strongly worded statements accusing Beijing of claiming their territory. China published a new version of its national map on Monday to correct what Beijing has in the past referred to as «problematic maps» that it claims misrepresent its territorial borders. India on Tuesday lodged a strong protest with China over its so-called «standard map» laying claim over Arunachal Pradesh and the Aksai Chin, and asserted that such steps only complicate the resolution of the boundary question. The External Affairs Ministry also rejected China's claims as having «no basis». «Just making absurd claims does not make other people's territories yours,» External Affairs Minister S Jaishankar said while reacting to the Chinese move. The Philippine government on Thursday slammed China's 2023 edition of its so-called «standard map» that still shows swaths of Philippine features in the West Philippine Sea. The Chinese Ministry of Natural Resources issued on August 28 a controversial map that includes the nine-dash line, now a 10-dash line, that supposedly shows China's boundaries in the South China Sea. «This latest attempt to legitimise China's purported sovereignty and jurisdiction over Philippine features and maritime zones has no basis under international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS),» Foreign Affairs Spokesperson Ma.

HUAWEI CLOUD, the cloud service division of global technology titan Huawei, has officially entered into a «Memorandum of Understanding (MoU)» with COBO, a frontrunner in digital asset custody solutions. This landmark announcement was made during an exclusive, closed-door event.

Malaysia is celebrating its 66th Independence Day on August 31 in Putrajaya with fanfare and festivities. This day marks its independence from colonial rule. It will be followed by Malaysia Day on September 16, to mark the day when the peninsular state of Malaya merged with Sabah, Sarawak and Singapore to form Malaysia in 1963. It will be celebrated in Kuching in the state of Sarawak.

Also read: Malaysia National Day 2023: Google Doodle celebrates Hari Merdeka In addition to celebrating Lake Toba, it's essential to acknowledge the Indigenous Batak Toba people, the lake's native inhabitants. Their traditional villages, local markets, and distinctive houses attract visitors from around the world. Traditional dances like the Tor-Tor and authentic wood carvings are common in these villages.

Also read: Malaysia National Day 2023: Google Doodle celebrates Hari Merdeka It was “quite the scene," Const. Ryan Anderson said. “Crates were literally on the road and swarms of bees were flying around," he said.

Also Read: Google Doodle celebrates the 148th birthday of educator and feminist Isabelle Gatti de Gamond; all you need to know Meanwhile, the public holiday falls on the 31st of August, but Merdeka celebrations are seen throughout the whole month and extend to Malaysia Day on September 16th. The Google Doodle's description highlighted that the festivities commence at Merdeka Square, where participants of the parade assemble in ornately adorned vehicles and traditional attire.

Australia’s largest white goods and home retailer Harvey Norman has posted a double-digit slide in profits and dividends over fiscal 2023, meeting its lower June guidance, and says its on track to deliver it Malaysian expansion plan.

Singapore are becoming embroiled in one of the city-state's largest money laundering cases involving over S$1 billion ($740 million) of assets. In charge sheets seen by Bloomberg News, some of the individuals who were arrested and charged this month held funds totally millions from unlicensed moneylending in China and illegal gambling in United Overseas Bank Ltd. and the local units of Citigroup Inc. and RHB Bank Bhd.

World Championship, ace Indian shuttler Prannoy H.S achieved a career-best world ranking as he reached No.6 in the latest chart released by the Badminton World Federation (BWF) on Tuesday. After pocketing a bronze, his first-ever medal in World Championships, at Copenhagen recently, Prannoy climbed up three spots to achieve his new career-high rank with 72437 points in the men's singles category. Prannoy, who stunned the Olympic champion Viktor Axelsen in the quarterfinals in the World Championship, is the lone Indian featuring in the top 10 in the men's singles list. The 31-year-old reached two finals this year. He won his first BWF title this May at Malaysia Masters and finished runner-up at the Australian Open after an epic, intense three-game battle against China's Weng Hong Yang earlier this month. Among the other Indian shuttlers, Lakshya Sen dropped a place to the No.

tobacco leaves that holds promise in the fight against several types of cancer. As per a TOI report, this discovery stands in stark contrast to the prevailing narrative around tobacco use. The World Health Organization (WHO) attributes a significant quarter of global cancer-related deaths to tobacco consumption, with lung cancer topping the list as its primary consequence. The breakthrough finding comes courtesy of AU alumnus Amit Dubey, in collaboration with Indian scientist Aisha Tufail, and researchers Miah Roney and Prof AKM Moyeenul Huq from Malaysia.

Lynas Rare Earths blames inflationary pressures, approval delays and deadlines imposed by Malaysian authorities for a big cost blowout on a downstream processing plant under construction in Western Australia.

Sun Pharmaceutical Industries: The drugmaker plans to allocate 7-8% of its current fiscal's sales towards research and development to enhance its range of products in various therapeutic categories. The company said it witnessed robust performance across all regions in the previous fiscal, marking a growth in double digits. Zomato: US private equity player Tiger Global, divested its residual shares in the Indian food delivery company in a transaction worth ₹11.24 billion/Tiger Global offloaded 123.5 million shares at ₹91.01 rupees apiece through consolidated transactions.

NEW DELHI : Oil and Natural Gas Corp. (ONGC) Ltd is in talks with global entities including Malaysia’s Gentari to form a joint venture in energy storage, chairman and chief executive Arun Kumar Singh said, as the energy giant makes strides in its energy-transition journey. ONGC would look at both battery storage and pump storage projects (PSP), Singh said in an interview.