News

BANK Negara trampled market expectations by raising its key overnight policy rate (OPR) by 25 basis points (bps) to 2% from a record low of 1.75%. Market participants mostly projected that the first rate hike would happen in July. Read full story

SUNAC China Holdings Ltd has defaulted on a dollar bond, becoming one of the biggest Chinese property companies to renege on its obligations amid a record-breaking wave of missed payments. Read full story

CHINA’s biggest chipmaker and a major iPhone supplier cut their outlooks for the second quarter, joining a growing list of manufacturers warning about the fallout from lockdowns aimed at containing the country’s worst Covid outbreak in two years. Read full story

MINING investors are stampeding back into a region many had seemed determined to leave. Read full story

NEW YORK: Global shares rose on Friday as Wall Street rallied to end a volatile week of trading, while oil jumped 4% on the back of record-high U.S. gas prices. Read full story

NEW YORK: Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Read full story

NEW YORK: Investors are studying an array of indicators for clues on how much further a brutal slide in U.S. stocks could run, with some signs suggesting the tumble in equities may not be over. Read full story