Mtouche’s external auditor tenders resignation
KUALA LUMPUR: Mtouche Technology Bhd has received a notice in writing dated June 3 from Messrs Afrizan Tarmili Khairul Azhar PLT (AFTAAS) on their resignation as auditors of the company. Read full story
News
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Stocks and oil tumble as recession fears mount
LONDON: World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar. Read full story
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China imports 2 mln barrels more of Iran oil, likely for reserves
SINGAPORE: China has received a new shipment of nearly 2 million barrels of Iranian oil in the past week at a southern port, according to shipping trackers, with one tracker saying the cargo is destined for state reserves. Read full story
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Ukraine conflict hurting palm oil supplies
LONDON: Sustainable palm oil is becoming harder to find as food manufacturers use it to replace sunflower oil sourced from Ukraine and to meet environmental goals, Ahold Delhaize’s AD.AS CEO told Reuters. Read full story
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EXPLAINER-Plastic sachets: As big brands cashed in, a waste crisis spiraled
Tiny plastic packets known as sachets have allowed companies to tap millions of low-income customers in the developing world but also unleashed a global pollution crisis. Read full story
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Powell says Fed 'strongly committed' to inflation fight, but not trying to trigger recession
The Federal Reserve is “strongly committed” to bringing down inflation that is running at a 40-year high and policymakers are acting “expeditiously to do so” but are not trying to cause a recession in the process, U.S. central bank chief Jerome Powell said on Wednesday. Read full story
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U.S. to propose rule to limit nicotine levels in cigarettes
The Biden administration plans to propose a rule to establish a maximum nicotine level in cigarettes and other finished tobacco products in an attempt to make them less addictive, the White House Budget Office said. Read full story
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Astro announces Tunku Ali Redhauddin as chairman
KUALA LUMPUR: Astro Malaysia Holdings Bhd has appointed Tunku Ali Redhauddin Ibni Tuanku Muhriz as chairman succeeding Tun Zaki Tun Azmi effective June 23. Read full story
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Economists expect lower EPF dividend rate for 2022 on weaker investment income
KUALA LUMPUR: Economists expect the Employees Provident Fund (EPF) to distribute a lower dividend rate for 2022 following a weaker total investment income recorded in the first quarter ended March 31, 2022 (Q1 2022). Read full story