Friday, October 15, 2021

Business

Uniqlo operator Fast Retailing posts record net profit

Fast Retailing says business has 'recovered markedly' as infections are contained around the world, including a sharp recovery in sales in Europe and North America after virus lockdowns were lifted.

China property shares slide as Evergrande crisis reverberates

Evergrande, which has more than US$300 billion in liabilities and 1,300 real estate projects in over 280 cities, missed a third round of interest payments on its international bonds this week.

Toyota cuts production target on parts and chips shortages

The Japanese carmaker now expects to build nine million vehicles in the year to March 31, rather than 9.3 million.

Australia, Malaysia, Singapore and South Africa launch cenbank digital currency scheme

The project will allow allow financial institutions to transact directly with each other in the digital currencies issued by participating central banks.

Telenor, Axiata to merge Malaysian telecoms units

Excluding savings to be made through the merger, the new company is estimated to have a market capitalisation of close to RM50 billion.

Unemployment rate for April 2021 drops to 4.6%

This is the lowest rate since October last year.

Malaysia tops list of expansion opportunities for Chinese companies in Asean

Some 65% of Chinese companies in a recent survey place Malaysia at the top of their list.

Microsoft to establish first datacentre region in Malaysia

This is part of its 'Together with Malaysia' initiative which PM Muhyiddin says will amount to at least RM4 billion over the next five years.

Citigroup to exit Malaysia, 12 other consumer banking markets

This is part of its policy shift towards expanding wealth management operations in 'wealth centres' where the company has best scaling opportunities.

RM400 million funds pour into local stocks, bucking trend since 2019

This is significant for Malaysia as foreign investors turn into net buyers after a year which saw billions of dollars pulled out.

UOB announces pay raise, promotions for 98% of employees

Bank signals confidence in economic recovery with mid-year exercise ahead of its annual programme.

Video game platform Roblox to make Wall Street debut

Roblox, which allows users to create their own video games and gives them a share of related revenue, counted close to 33 million daily players in 2020.

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