China’s Communist Party pledged on Thursday to dramatically increase consumer spending and strengthen internal economic demand over the next five years as senior officials wrapped up a major policy meeting in Beijing. The four-day closed-door session brought together roughly 200 elite Central Committee members and 170 alternates to map out the 15th Five-Year Plan beginning…
Malaysia’s currency edged up against the dollar on Thursday as crude oil rallied on fears of tighter supplies after America and Europe sanctioned a Russian petroleum giant. The ringgit closed at 4.2250 per dollar compared with 4.2280 at the previous close. Bank Muamalat Malaysia chief economist Mohd Afzanizam Abdul Rashid said the Southeast Asian nation…
Oil prices jumped more than 5 percent on Thursday after US President Donald Trump imposed sanctions on Russian energy giants to pressure Moscow over Ukraine. Brent crude climbed 5.4 percent while West Texas Intermediate gained 5.6 percent as Trump targeted Rosneft and Lukoil, citing stalled peace talks with President Vladimir Putin. The European Union added…
Wisconsin ginseng farmers face mounting pressures as trade disputes with China and competition from cheaper Canadian imports threaten their survival. The state produces nearly all American ginseng from Marathon County, where mineral-rich soils create premium roots that once commanded top prices in Chinese markets. Joe Heil of Heil Ginseng Enterprises says rising labor and fertilizer…
Bursa Malaysia’s main index climbed to its highest point of the session on Thursday after investors bought key stocks at lower prices. The FTSE Bursa Malaysia KLCI added 5.31 points to close at 1,608.0 after opening 1.43 points down at 1,601.26. Decliners still outnumbered gainers 589 to 470 as turnover rose to 3.44 billion units…
Tesla stock dropped 3 percent in premarket trading on Thursday after the electric vehicle manufacturer reported quarterly earnings below Wall Street expectations. Rising expenses and diminishing regulatory credits pressured results despite the company achieving record sales volumes. The automaker faced over 400 million dollars in additional costs from tariffs imposed by President Donald Trump on…
Bursa Malaysia recovered from early losses on Thursday as investors bought plantation and construction stocks. The benchmark FTSE Bursa Malaysia KLCI rose 0.85 points to 1,603.54 by 9.15 a.m. after opening 1.43 points lower at 1,602.26. Rakuten Trade equity research vice president Thong Pak Leng said Wall Street weakness from US-China trade tensions and a…
US President Donald Trump imposed sanctions on Russian oil giants Rosneft and Lukoil on Wednesday, expressing frustration that negotiations with Vladimir Putin to end the Ukraine war have stalled. Trump said his conversations with the Russian leader went nowhere despite what he describes as good discussions. The European Union simultaneously announced its 19th round of…
The ringgit gained ground against the US dollar on Thursday morning as trade friction between Washington and Beijing intensified. Malaysia’s currency strengthened to 4.2240 per dollar at 8 a.m. from 4.2280 at the previous close. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid attributed the shift to a weaker dollar index, which fell…
Music industry organizations submitted legal documents on Tuesday in support of record labels in their Supreme Court case against Cox Communications. The Recording Industry Association of America and the National Music Publishers Association filed a 30-page brief arguing that the internet provider knowingly helped customers steal protected songs. Cox faces a multibillion-dollar verdict after lower…
