US business spending on equipment strong; trade deficit widens

WASHINGTON (July 26): New orders for key US-made capital goods increased more than expected in June and shipments surged, pointing to solid growth in business spending on equipment in the second quarter. Expectations of robust economic growth in the April-June period were, however, tempered somewhat by other data on Thursday showing a widening in the…

IKEA to recruit staff for 200 brand-new jobs at Penang shop

KUALA LUMPUR (July 17): Swedish home furnishings merchant IKEA has actually introduced a recruitment drive to fill more than 200 positions at its new store in Batu Kawan, Penang, which is scheduled for opening on March 28, 2019. The offered jobs incorporate full-time and part-time jobs, consisting of roles in sales, customer relations, food and…

Rothschild ‘seriously breached’ anti-money laundering rules in relation to 1MDB– Finma

KUALA LUMPUR (July 20): Switzerland’s financial market supervisory authority Finma announced that Rothschild Bank AG and its subsidiary Rothschild Trust (Schweiz) AG were discovered to have actually devoted “major violations” of anti-money laundering guidelines in relation to the troubled 1Malaysia Development Bhd (1MDB). “Specifically, they were in breach of due diligence, reporting and documents requirements….

IDEAS: Malaysia needs to be ready for the property bubble to burst – Malaysia Today

(The Edge Markets)– The Malaysian federal government needs to be ready for the country’s property bubble to burst and the danger that this could cause a recession, following incredible development in the high-end property sector, according to the Institute for Democracy and Economic Affairs (IDEAS). In a declaration today, IDEAS stated a policy paper authored…

North Korea economy decreases at sharpest rate in Twenty Years in 2017

SEOUL (July 20): North Korea’s economy contracted at the sharpest rate in two decades in 2017, South Korea’s central bank estimated on Friday, in a clear sign international sanctions imposed to stop Pyongyang’s nuclear and missile programs have hit growth hard.  Gross domestic product (GDP) in North Korea last year contracted 3.5 percent from the…

Trump threatens tariffs on all US$500 bil of Chinese imports

WASHINGTON (July 20): President Donald Trump said he was ready to impose tariffs on all US$500 billion of imported goods from China, remarks that sent the US stock market and dollar retreating and threatened to escalate a trade clash with the Asian giant. “We’re down a tremendous amount,” Trump said in an interview about trade…

‘My conscience is clear’ says Najib over claims that Umno funds originated from 1MDB

KUALA LUMPUR (July 23): Previous prime minister Datuk Seri Najib Razak has actually denied that the cheques totaling up to RM470 million he signed to Barisan Nasional (BN) accounts originated from 1Malaysia Advancement Bhd (1MDB), saying his “conscience is clear”. “When we provided the cheques, we were extremely clear that they (cash) did not come…

Seremban-Nilai-KL Sentral Komuter service starts Wednesday

SEREMBAN (July 22): The Seremban-Nilai-KL Sentral Komuter Express Service, which will begin its operations on Wednesday (July 25), is part of the government’s efforts to encourage the people to use public transport. Transport Minister Anthony Loke Siew Fook said the express service would offer a one-way trip from Seremban to KL Sentral in the morning…

Dr Mahathir Says Malaysia is Successful Thanks to Chinese Business Community

Prime Minister Tun Dr Mahathir Mohamad certainly is back to take matters into his own hands when the PH alliance won the 14th general elections a few months ago. However, he is also humble enough to acknowledge those who have contributed to making Malaysia what it is today. Today, Dr Mahathir said in a speech…

Western Digital to close PJ plant after 20 years

KUALA LUMPUR (July 18): Western Digital Corp is reported to be closing down its disk drive (HDD) manufacturing facility in Petaling Jaya, Selangor by the end of this year, after over 20 years in operation.According to The Star report today, Western Digital(Malaysia)Sdn Bhd handling director Gouw Kim San stated the relocation remains in reaction to…