Stock Market & Investment News

STOCKHOLM: IKEA said on Wednesday it would sell factories, close offices and reduce its nearly 15,000-strong workforce in Russia, the latest move by the world’s biggest furniture brand to cut its operations there following Moscow’s invasion of Ukraine. Read full story

KUALA LUMPUR: Citaglobal Bhd (formerly known as WZ Satu Bhd) has proposed to acquire the entire equity interest in Citaglobal Engineering Services Sdn Bhd (CESSB) for RM140mil. Read full story

KUALA LUMPUR: Hong Seng Consolidated Bhd has issued a letter of intent (LOI) to Invest NS to form a strategic partnership for the development of five parcels of leasehold land in Seremban, Negeri Sembilan measuring approximately 284.75 acres into Malaysia Green Valley (MGV). Read full story

PETALING JAYA: Datasonic Group Bhd’s wholly-owned subsidiary Datasonic Technologies Sdn Bhd (DTSB) has bagged a RM9.66mil contract from Pertubuhan Keselamatan Sosial (Perkeso). Read full story

MUMBAI: As India faces a crippling surge in food and fuel prices, its policymakers will be counting mostly on this year’s monsoon rains, not just interest rate hikes, to take inflationary pressure off the country’s households and businesses. Read full story

LONDON: Slumping stocks and surging bond yields are rapidly crimping global financial conditions, yet given their effect on dampening economic growth and eventually inflation, the moves might be welcomed by the Federal Reserve and other central banks. Read full story

KUALA LUMPUR: Censof Holdings Bhd has acquired a 7.93% stake, or 41,680 treasury shares in Asian Business Software Solutions Pte Ltd (ABSS) for SG$1.28mil (RM4.09mil). Read full story

KUALA LUMPUR: Bursa Malaysia Securities Bhd has decided to allow the appeal and grant Scomi Group Bhd (SGB) a further extension, until Nov 30, 2022, from being delisted from the Official List of Bursa Securities. Read full story