News

WASHINGTON: The Federal Reserve on Wednesday raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic risks posed by excessive inflation and the war in Ukraine. Read full story

NEW YORK: Oil lost ground for the fifth time in the last six days on Wednesday as traders reacted to hoped-for progress in Russia-Ukraine peace talks and a surprising increase in U.S. inventories. Read full story

Foreign-listed Chinese shares rallied on Wednesday after Beijing vowed to keep markets stable, soothing overseas investors’ nerves after a sell-off due to worries over differences between China and the West in the Russia-Ukraine war. Read full story

KUALA LUMPUR: Investors could be keeping an eye on stocks with recent corporate announcements including EcoWorld International, Scientex, LYC Healthcare, JF Technology and Alam Maritim, said JF Apex Research. Read full story

KUALA LUMPUR: Bursa Malaysia tracked Wall Street’s overnight surge as investors rallied on the US Federal Reserve’s quarter-percentage point rate hike. Read full story

KUALA LUMPUR: Paramount Corp Bhd has invested RM10mil in e-commerce venture Commerce DotAsia Ventures Sdn Bhd (Commerce.Asia), in line with its strategy to diversify its revenue stream. Read full story

KUALA LUMPUR: The ringgit further improved against the US dollar after the Federal Reserve raised interest rates for the first time since 2018 in an effort to tame inflation. Read full story

KUALA LUMPUR: The Northern Corridor Implementation Authority (NCIA) has appointed Mohamad Haris Kader Sultan as its chief executive, effective March 1, 2022, following the retirement of Datuk Seri Jebasingam Issace John, who helmed NCIA since 2019. Read full story

KUALA LUMPUR: A special Employees Provident Fund (EPF) withdrawal of RM10,000 will have an impact on the country’s fund flows, as higher net selling from local institutional funds is anticipated. Read full story

KUALA LUMPUR: The government’s decision to maintain the implementation of the 5G network as a single wholesale network (SWN) with the option for mobile network operators (MNOs) to buy an up to 70 per cent stake in Digital Nasional Bhd (DNB) is a win-win situation to resolve the issues in the 5G rollout, Public Investment Bank Bhd said. Read full story