News

NAPERVILLE, Ill., : Speculators have been easing massively bullish bets in Chicago-traded grain and oilseed futures in recent weeks, though they have been hesitant to add too many shorts due to unprecedented price levels and continuing uncertainties over global supplies. Read full story

HONG KONG: The dollar started the week just off a 20-year high against peers on Monday, as investors sought safety due to fears about global growth while cryptocurrency markets appeared to find some stability after last week’s turmoil. Read full story

SYDNEY: Asian share markets were attempting a rare rally on Monday after Wall Street managed a bounce from deep lows, though investors were also braced for bad news from Chinese economic data due later in the session. Read full story

TOKYO: Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia. Read full story

BEIJING: China’s economic activity cooled sharply in April as widening COVID-19 lockdowns took a heavy toll on consumption, industrial production and employment, adding to fears the economy could shrink in the second quarter. Read full story

BEIJING: China’s April property sales by value fell at their fastest pace in at least 12 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key sector of the world’s second-largest economy. Read full story

BEIJING: China’s aluminium production in April hit a record high, official data showed on Monday, after curbs on power production eased, allowing smelters to expand operations. Read full story

CRYPTOCURRENCY exchange FTX’s founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday. Read full story

KUALA LUMPUR: Business programmes led by the Ministry of Environment and Water Malaysia (KASA) at the recently concluded Expo 2020 Dubai have provided opportunities for local industries to expand their green footprint globally with RM16.33 billion in potential trade and investment leads garnered. Read full story

KUALA LUMPUR: GIIB Holdings Bhd’s 51%-owned subsidiary GIIB Healthcare Products Sdn Bhd has started a latex glove manufacturing facility in Nilai, Negeri Sembilan. Read full story