Leading countries in the Islamic finance space within the Asean region, such as Malaysia and Indonesia, should collaborate in the banking and takaful sectors, as bright prospects are seen for both Islamic finance and financial technology (fintech) in the region, said Bank Negara Malaysia (BNM) deputy governor Adnan Zaylani.

Malaysia, Indonesia should forge alliance to enhance Islamic finance, fintech growth in Asean — BNM

KUALA LUMPUR (April 19): The Malaysia External Trade Development Corporation (Matrade) will enhance cross-border e-commerce among small and medium enterprises by partnering Amazon in a programme that allows products to be sold internationally via Amazon’s e-stores.

Matrade, Amazon collaborate to enhance cross-border e-commerce among SMEs

SINGAPORE (April 15): Asia Pacific saw the largest y-o-y decline in financial technology (fintech) funding value compared to other regions in 1Q2024, falling 46% to US$1.85 billion (S$2.51 billion), according to data by S&P Global Market Intelligence.

Asia Pacific saw largest y-o-y decline in fintech funding in 1Q2024 — S&P Global

BENGALURU (April 9): India's Paytm said on Tuesday that Surinder Chawla had resigned as the chief executive officer and managing director of its banking unit Paytm Payments Bank "on account of personal reasons".

The company said the resignation would be effective from June 26 but did no...

India's Paytm banking unit CEO Surinder Chawla resigns

SINGAPORE (April 9): The Monetary Authority of Singapore (MAS) and global payments company Mastercard have signed a memorandum of understanding (MOU) to enhance cooperation in cyber security.

MAS to strengthen financial services’ cyber resilience with Mastercard MOU

TNG Digital Sdn Bhd will start imposing a 1% overseas transaction conversion fee for its cross-border QR payment feature in Touch 'n Go (TNG) eWallet, starting from April 25, which had been free of charge previously.

Touch 'n Go eWallet to charge 1% conversion fee for overseas transactions from April 25

KUALA LUMPUR (April 8): Grab-led digital bank GX Bank Bhd (GXBank) aims to provide financial facilities to the underserved market, expand the retail segment and address the needs of the micro, small and medium enterprises (MSMEs), said its chief executive officer Lai Pei-Si.

Grab-led digital bank GXBank to tap into underserved market, MSMEs

MBSB Bank Bhd is discontinuing its e-wallet platform, effective from May 31.

In a statement on Monday, the bank said the strategic decision is aligned with the bank’s ongoing efforts to optimise and streamline its digital offerings.

MBSB Bank discontinues e-wallet platform

The Monetary Authority of Singapore (MAS) has launched Cosmic, a centralised digital platform for the sharing of customer information among financial institutions to tackle money laundering, terrorism financing and proliferation financing.

Singapore's MAS launches information-sharing platform to combat financial crime with six commercial banks

KUALA LUMPUR (March 27): Malaysia’s first shariah-compliant and conventional peer-to-peer (P2P) financing platform microLEAP recorded a total financing disbursement of RM62.18 million last year, more than double from RM30.91 million in 2022.

microLEAP records over 100% rise in total financing disbursement in 2023

Alibaba Group said on Tuesday it was offering to buy the 36% of Cainiao it does not already own for up to US$3.75 billion (RM17.7 billion), abandoning plans for an initial public offering (IPO) of the logistics business in Hong Kong.

Alibaba to buy Cainiao stake for up to US$3.75b as it drops IPO plan

Thailand's government expects to launch a signature handout scheme worth 500 billion baht (RM65.2 billion) by the fourth quarter of this year, a deputy finance minister said on Monday, delaying it beyond a former target date of May.

Thailand delays US$14b handout scheme to fourth quarter

JAKARTA (March 22): Southeast Asian online lending platform Akulaku, which is backed by China's Alibaba, secured up to US$100 million of debt financing from the Singapore branch of London-based HSBC, Akulaku's CEO said, as it aims to make the company more profitable.

Alibaba-backed fintech Akulaku secures HSBC financing, aims for double-digit growth

SINGAPORE (March 22): Maybank has entered into a memorandum of understanding (MOU) with fintech firm Doxa Holdings International (Doxa) to jointly provide and enhance supply chain financing (SCF) solutions for players in the building and construction sector, extending to other industries in the future.

Maybank, Doxa ink MOU for supply chain financing solutions in building & construction sector

WASHINGTON (April 26): Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US funding had helped Moscow seize the initiative.

Ukraine's Zelenskiy calls for air defence systems as allies meet

KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering & Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

EPF emerges as second largest shareholder of Sam Engineering

US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

US equity funds see fourth straight week of outflows amid rate cut reassessment

HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.

Health Ministry stands by decision to amend Medical Act 1971

US monthly inflation rose moderately in March, but stubbornly higher housing and transportation costs suggested the Federal Reserve could keep interest rates elevated for a while.

US inflation rises in line with expectations; consumer spending strong

The country’s fifth-generation (5G) network adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

Fahmi: 5G adoption rate almost 36%, coverage 80.3%, second network unveiling next week

Fast-fashion firm Shein has been drawn under the scope of flagship European Union (EU) rules designed to clamp down on illegal and harmful content online, aimed at stopping the spread of counterfeit items on the platform.

EU hits fast-fashion giant Shein with new digital rules

Anglo American rejected rival miner BHP Group's £31.1 billion pound (RM186 billion) takeover proposal on Friday, saying the bid significantly undervalued the London-listed miner and its future prospects.

Anglo American rejects BHP's US$39b takeover proposal

HOUSTON/BENGALURU (April 26): Oil giant Chevron Corp beat estimates for first-quarter profit on Friday, as higher production volumes in the US helped offset a hit from weak natural gas prices and fuel margins.

Chevron posts 1Q profit beat with oil production gains

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

The Inland Revenue Board (IRB) on Friday announced that the deadline for taxpayers to submit Form E and CP8D has been extended to May 31.

Deadline to submit Form E, CP8D extended to May 31, says IRB

Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.

Berjaya Corp denies participation in talks to revive Forest City casino resort

Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.

Maxis could lead second 5G network roll-out with new consortium partner, says RHB Research

Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.

Analysts positive restructuring plan will uplift Capital A's PN17 status, benefit AirAsia X shareholders

The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.

Merger of airlines alone enough to reverse all of Capital A's negative equity, says Fernandes

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

Mohan Swami, partner agree to buy 58% of Turiya for RM52.86m from MAA Group

Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.

Asia’s richest banker loses US$1.2 bil after RBI ban

Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.

Maybank obtains summary judgement against ACE Corporation, three others for RM46m loan default

Shares in ViTrox Corp Bhd fell to their lowest in a month, as first-quarter results disappointed investors, while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

ViTrox fell as much as 6% before ending the day at RM7.40, its lowest since March 26, 2024. The stock was still down a little under 3% at the closing bell after 5.29 million shares changed hands. In contrast, the country’s benchmark index FBM KLCI was 0.4% higher.

ViTrox slips to one-month low as 1Q disappoints, analysts raise caution

KUALA LUMPUR (April 26): Gamuda Land, the property arm of Gamuda Bhd, has unveiled partners for Gardens Square, the latest commercial development at the 810-acre Gamuda Gardens in Sungai Buloh.

Gamuda Land announces retail partners for upcoming commercial development in Gamuda Gardens

Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.

Anwar wants action taken against Forest City casino licence news report

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering &amp; Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Nestle Malaysia to adjust prices of 22 products starting July 1

Shares of AirAsia X Bhd (AAX) rose to a six-month high as investors cheered a restructuring plan that would make the company the largest low-cost carrier in Southeast Asia.

AirAsia X logs best day in six months on Capital A restructuring

YNH Property Bhd (YNH) issued a clarification to bondholders via Malaysian Trustee Bhd on the technical default of its Islamic notes, as well as the status of its mall sale and the appointment of a new auditor.

YNH says it has remedied 'technical default' involving sukuk programme

MYAirline Sdn Bhd will continue to retain its nominated post holders as well as key personnel, while ensuring that its air operator’s certificate (AOC) documentation remains as current as possible.

MYAirline seeking multiple investors, to retain nominated post holders

The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.

World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.

China’s upstart electric brands, and even its state-owned, legacy automakers, are racing to pack technology and features once considered premium into electric vehicles (EVs) as cheap as US$20,000 (RM95,525) — less than half the cost of an average new car in the US, now more than US$48,000.

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