Malaysia Financial News

KUALA LUMPUR (Reuters) — Malaysia will create a «special financial zone» in embattled Chinese developer Country Garden's $100 billion project in the Southeast Asian nation and offer incentives to attract investments, Prime Minister Anwar Ibrahim said.

HS Prannoy extracted the last ounce of energy from his reservoir to stun two-time defending champion Viktor Axelsen of Denmark in a thrilling 68-minute quarterfinal to ensure a medal for India in the World Badminton Championship here on Friday. In a nail-biter, Prannoy once again showed his big-match temperament as he fought back from a game down to outwit the world No.

Satwiksairaj Rankireddy and Chirag Shetty stood one step away from another World Championships medal after reaching the quarterfinals with a three-game win over Indonesia's Leo Rolly Carnando and Daniel Marthin here on Thursday. The world number two pair, which had claimed a maiden bronze in the last edition, bounced back from a mid-game slump to outwit Carnando and Marthin, ranked 10th, 21-15 19-21 21-9 in the round of 16 match that lasted a little over an hour. The Commonwealth Games champions, who won four titles this season, will meet either 11th seeds Kim Astrup and Anders Skaarup Rasmussen from Denmark or Malaysian seventh seeded combination of Ong Yew Sin and Teo Ee Yi next. Earlier, the women's doubles pair of Treesa Jolly and Gayatri Gopichand, who reached the semifinals of the All England Championships in the last two editions, couldn't sustain the attack and went down 14-21 9-21 in 42 minutes against top seeded Chinese duo of Chen Qing Chen and Jia Yi Fan. It was only the second meeting between Gayatri-Treesa and the Chinese pair with the Indians having lost to the world number one Chinese team at the German Open last year. Chen and Jia are three-time gold medallists at the World Championships, won three BWF titles, and finished runner-up twice this season. Satwik and Chirag showed great anticipation and execution to dish out an attacking game. Chirag was simply superb with his interceptions as he glided through the court and punished any weak returns from their rivals. The Indian pairs had a slow start but Chirag and Satwik soon stepped up, bringing more discipline in their approach. The Indians rained down their cross court returns with Chirag patrolling the front court.

Boeing has recently identified a new 737 MAX quality problem involving supplier Spirit AeroSystems that has resulted in improperly drilled holes on the aft pressure bulkhead, the planemaker said on Wednesday. Boeing said the defect will delay near-term deliveries and the company is evaluating whether it could cause it to miss its annual delivery target of at least 400 737s this year. Boeing shares were down 2.7% and Spirit shares fell 6.1% in afterhours trading. The new supply-chain snag is the latest issue to impede deliveries of the cash-generating MAX following Boeing's disclosure of a problem in April that Spirit had improperly installed brackets joining the aft fuselage to the vertical tail. Boeing confirmed that the latest issue will delay the first MAX 8 delivery to Malaysia Airlines, which had scheduled an Aug.

More than 40 banks have piled into data centre operator AirTrunk’s $4.6 billion novel debt deal linked to its carbon, energy and water usage, snapping a lacklustre year for Australian borrowers in sustainable financing markets.

Porsche is exploring opportunities to start assembly of its iconic model SUV Cayenne in India amid an “unprecedented surge” in demand, senior industry executives aware of the German luxury carmaker’s plans told ET. Porsche AG board members Detlev von Platen, executive board for sales and marketing, and Matthias Becker, vice president of region overseas and emerging markets, are in Delhi to meet senior government officials, the sources said. They are scheduled to meet officials at Invest India and Niti Aayog on Tuesday. “Porsche is examining possibilities to locally assemble the SUV (Cayenne) to avail of tax benefits and expand its footprint in this fast-growing space,” a senior executive in know said on condition of anonymity. The company’s sales in India grew 64% on year to 779 units in 2022 with Cayenne accounting for almost half of it, the person said. Porsche did not share any information on the development in response to a query from ET. India recently surpassed Japan to become the third largest automobile market in the world. The country imposes 100% import duty on cars with cost, insurance and freight value of more than $40,000 and 70% on cheaper vehicles.

Narendra Modi came to power in 2014. From being a net importer, India has become a net exporter of handsets. Elsewhere in Asia, the contest is over semiconductors.

₹26,852 crore) in 2022, India jumped to 11th position in the top markets of direct sellers, as per the World Federation of Direct Selling Association (WFDSA) report. The report which was quoted by the news agency PTI said that in the previous year, India witnessed a jump of 5.4% in retail sales. Moreover, during the last 3 years, India witnessed the highest Compounded Annual Growth Rate (CAGR) of over 13.3% on a constant dollar basis.

Singapore buyout group Southern Capital is preparing to test buyer appetite for its medical practices business, Qualitas Health, appointing Bank of America to assist with the transaction.

India and the 10-nation bloc Asean on Monday said they have directed their officials to intensify their efforts to conclude the review of the existing free trade agreement in goods between the two regions by 2025. The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia. According to a joint media statement, the meeting welcomed the progress of the review of the Asean-India Trade in Goods Agreement (AITIGA).

solar exports from Southeast Asia, saying the move will slow clean energy deployment and harm climate progress. “We’ve gone from toasting the anniversary of the Inflation Reduction Act and its positive impacts on America’s energy transition to lamenting the imposition of harmful solar tariffs that will severely constrict solar availability in the US,” Gregory Wetstone, president of the American Council on Renewable Energy, said Friday in an interview.

free trade agreement on goods between India and the 10-nation Asean bloc may be taken up during a meeting in Indonesia on Monday, an official said. The issue will come up for discussion and decision during the India-Asean economic ministers meeting on Monday. The meeting is being held on the sidelines of the ongoing meeting of the Economic ministers of ASEAN.

MANILA (Reuters) — The Philippine armed forces said on Saturday it would again seek to resupply troops stationed in a rusty World War 2-era ship on a reef in the South China Sea, after China blocked a previous attempt with water cannons.

India Men's Junior Hockey Team will face off against Germany today at 10:30 pm in the second match of the 4-Nation Dusseldorf 2023 tournament. The tournament is being played as part of the preparations for the upcoming FIH Hockey Men's Junior World Cup 2023 which will be played in Malaysia between 5-16 December this year.

maritime domain. It signifies India’s increasing interest in building capacity and partnerships with Indo-Pacific militaries.

Nirmala Sitharaman on Thursday asked chartered accountants to adequately familiarise themselves with new and growing areas of auditing, including ESG (environmental, social, and governance) and carbon accounting, and to adopt technology to improve their productivity. Developing expertise in new areas will help not just their clients but also the broader ecosystem, Sitharaman said at an event held by Institute of Chartered Accountants of India (ICAI) in Bhubaneswar.

Kaavaalaa' fever! The charm of the hit song from the movie 'Jailer,' featuring Tamannaah Bhatia and Rajinikanth, is now a global phenomenon. The peppy song has captured the attention of international audiences, particularly in Japan. Joining the 'Kaavaalaa' trend, Japanese Ambassador to India Hiroshi Suzuki created a dance video with Japanese YouTuber Mayo San.

Amber, University Living and UniAcco that help students find accommodation near campuses across the world, are targeting 2-3x annual growth in business on soaring demand not just from Indian students going abroad but other international students as well. Companies in this space told ET that while initially they only had Indian study-abroad students, now 70-80% of their base comprises students from international markets, looking for the convenience and support these platforms offer. “The student mobility industry has seen a remarkable recovery since the pandemic, with lots of students going abroad every year,” said Saurabh Arora, CEO of University Living, a global student-housing managed marketplace.

Rajinikanth's latest film 'Jailer' has hit it out of the park at the worldwide box-office. On the sixth day since its release on August 10, the movie has breached the Rs 400 crore-mark, globally, according to film trade analysts Manobala Vijayabalan and Ramesh Bala. 'Jailer' earned Rs 64.27 crore on Independence Day (Day 6), taking its worldwide total to Rs 416.19 crore.

NEW DELHI : Oil and Natural Gas Corp. Ltd (ONGC) is in the fray for Finnish state-run power utility Fortum Oyj’s Indian solar projects totalling 185 megawatts (MW), two people familiar with the matter said, adding that the deal may have an equity value of around $130 million. Others in the race include Malaysia’s state-run oil and gas company, Petronas unit Gentari Sdn Bhd, Singapore’s Sembcorp Industries Ltd, Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy Ltd, and private equity firm Actis Llp.

Singapore has added cooks from India to its list of permissible hires, widening its recruitment pool for certain job positions in the services and manufacturing sectors. Traditionally, employers in Singapore's services and manufacturing sectors have primarily sourced work permit holders from China, Malaysia, Hong Kong, Macau, South Korea, and Taiwan. The Ministry of Manpower has recently unveiled the application process for cooks in Indian restaurants in the city-state.