Malaysia FX reserves at three-year high to aid ringgit stability

Malaysia FX reserves at three-year high to aid ringgit stability

[KUALA LUMPUR] Malaysia’s increasing currency reserves are bolstering its defences against market volatility. The country’s net foreign exchange (FX) reserves rose to US$94.7 billion at the end of April, according to the latest central bank data, the most since June 2022. Strong foreign inflows into local bonds and a weaker greenback, which enabled Bank Negara…

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Fidelity, BlackRock target Chinese demand for offshore funds

Fidelity, BlackRock target Chinese demand for offshore funds

[HONG KONG] Fidelity International is poised to offer products that attract mainland investors chasing higher returns from overseas funds, according to sources familiar with the matter. The global asset manager is considering seeking approval for products under the decade-old Mutual Recognition of Funds scheme, said the sources, who asked not to be identified because the…

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COE woes: When emotions get in the way of efficiency

COE woes: When emotions get in the way of efficiency

SINGAPORE’S policymakers have always had an eye on efficiency. But efficiency may not be a convincing aim for citizens – as seen, for instance, with the perennial hot topic of Certificate of Entitlement (COE) prices. In a recent interview with local media, Acting Transport Minister Jeffrey Siow disputed the popular narrative that demand from private-hire…

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Europe: Shares fall as Middle East tensions weigh; eyes on Fed decision

Europe: Shares fall as Middle East tensions weigh; eyes on Fed decision

EUROPEAN shares declined on Wednesday as investors awaited the Federal Reserve’s monetary policy decision, with ongoing tensions in the Middle East adding to market uncertainty. The pan-European Stoxx 600 index closed 0.36 per cent down at 540.33, at a near one-month low. The hostilities between Iran and Israel extended to a sixth day, with fears of a…

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Microsoft planning thousands more job cuts aimed at salespeople

Microsoft planning thousands more job cuts aimed at salespeople

Published Thu, Jun 19, 2025 · 06:12 AM [NEW YORK] Microsoft is planning to cut thousands of jobs, particularly in sales, as part of the company’s latest move to trim its workforce amid heavy spending on artificial intelligence. The cuts are expected to be announced early next month, following the end of Microsoft’s fiscal year,…

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Sats prices US$100 million in fixed-rate notes at 4.648%

Sats prices US0 million in fixed-rate notes at 4.648%

[SINGAPORE] In-flight caterer and ground handler Sats on Wednesday (Jun 18) priced US$100 million in fixed-rate notes due Jun 23, 2030, at 4.648 per cent. The Series 003 notes will be issued by Sats’ US$3 billion multicurrency debt issuance programme established in November 2023 and updated last year. They are expected to be issued on…

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Waymo expands service area in Los Angeles and San Francisco

Waymo expands service area in Los Angeles and San Francisco

Waymo, the autonomous taxi company that’s offered rides in Los Angeles since November, is expanding its service area in the city. Starting Wednesday, the driverless taxis will roam more than 120 square miles of Los Angeles County, stretching from Santa Monica to downtown and from West Hollywood to Inglewood. The expanded service area will include…

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