Stock Market & Investment News

KUALA LUMPUR: The Securities Commission (SC) has disclosed the findings of its investigation into 10 clone firm scams, to arm investors with greater awareness on the modus operandi of these scams in order to spot and avoid them. Read full story

KUALA LUMPUR: Petronas’ profit after tax increased to RM23.44 billion for the first quarter ended March 31, 2022 (Q1 FY2022) versus RM9.22 billion a year ago in tandem with higher revenue, following an upward trend in prices partially offset by higher product costs and taxation. Read full story

KUALA LUMPUR: Malaysian Resources Corporation Bhd’s (MRCB) net profit almost tripled to RM14.03mil in the first quarter ended March 31 from RM5.2mil a year earlier. Read full story

KUALA LUMPUR: Bank Islam Malaysia Bhd’s net profit fell by a third to RM105.92 million in the first quarter (Q1) ended March 31, 2022, from RM158.71 million a year earlier mainly due to a higher net allowance for impairment on financing and advances. Read full story

Russia’s central bank said on Tuesday that the role of the dollar and the euro as global currencies would decline as central banks rethink their strategies after the West froze Russian reserves, suggesting it could consider imposing negative rates for dollar and euro deposits. Read full story

KUALA LUMPUR: George Kent (Malaysia) Bhd posted a net profit of RM31.26 million for the financial year ended March 31, 2022 (FY2022) on the back of RM355.22 million in revenue. Read full story

LONDON: Cash-strapped Britons are increasing the number of supermarkets they visit as they shop around for the best prices amid a worsening cost of living crisis, industry data showed on Tuesday. Read full story

PARIS: A top airline industry official called on Tuesday for calm surrounding recent travel chaos at some airports as people resume flying after the pandemic, blaming the gridlock on temporary delays in getting clearances for new staff. Read full story

WASHINGTON: U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and houses, which could curtail economic growth. Read full story

FRANKFURT: The timing of Warren Buffett’s recent investment in Citigroup Inc C.N was not known in advance by the U.S. lender, Chief Executive Jane Fraser said on Tuesday. Read full story