News
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Wall St Week Ahead-Cloudy valuations give investors pause in buying beaten-up US stocks
NEW YORK: Whipsawing bond yields, surging oil prices and a Federal Reserve bent on squashing the worst inflation in four decades are hampering investors’ ability to assess U.S. stock valuations, even as the market’s tumble creates potential bargains. Read full story
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Stocks in biggest weekly loss since 2020 on interest-rate worries
NEW YORK: World stocks on Friday closed out their steepest weekly slide since the pandemic meltdown of March 2020, as investors worried that tighter monetary policy by inflation-fighting central banks could damage economic growth. Read full story
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Oil slumps 6% to four-week low on recession worries, strong dollar
NEW YORK: Oil prices tumbled about 6% to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy. Read full story
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Reforms needed to remain competitive
MALAYSIA was ranked 32nd in the 2022 International Institute for Management Development world competitiveness ranking (WCR), down seven positions from the 25th spot in 2021 – the lowest position it has held in five years. Read full story
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Biden-Xi call is under consideration
US officials are working to arrange a possible call this summer between President Joe Biden and Chinese President Xi Jinping, according to sources, with tensions high between the world’s two biggest economies. Read full story
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Spiralling food crisis hits Sri Lanka
FOR R. Daranagama, a 70-year-old rice farmer, the past year ranks among the most difficult of his life. Read full story
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Garuda Indonesia wins creditors' approval for US$9bil restructuring
JAKARTA: Garuda Indonesia’s proposal for restructuring its more than U$9 billion debt won the approval on Friday from the vast majority of the airline’s creditors, court officials said, staving off the risk of bankruptcy at the embattled flag carrier. Read full story
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How do you define a recession? Let us count the ways
WASHINGTON: Whether the United States, the world’s largest economy, will slip into a recession is a growing concern for chief executives, the Federal Reserve, and the administration of President Joe Biden. Read full story
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Malaysia lauds significant outcome of the 12th WTO ministerial conference
KUALA LUMPUR: The 12th Ministerial Conference (MC12) of the World Trade Organization (WTO) in Geneva, Switzerland has resulted in groundbreaking accomplishments in several key areas of the negotiations. Read full story
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CPO futures forecast to trade with downside bias next week
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is forecast to trade with a downside bias as the market continues to be plagued with expectations of higher output next week. Read full story
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