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Local technical field continues to expand in line with IR 4.0 — PM Ismail Sabri
KUALA LUMPUR (Dec 4): The technical field remains relevant and continues to expand in the country in line with the Fourth Industrial Revolution (IR 4.0), said Prime Minister Datuk Seri Ismail Sabri Yaakob. He said for this purpose, the government had allocated RM6.6 billion under Budget 2022 to strengthen Technical and Vocational Education and Tra
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Focus on people, businesses, economy to ensure prosperity — Tengku Zafrul
KUALA LUMPUR (Dec 4): Issues related to the people, businesses and the economy need to be addressed in 2022 to ensure the country’s well-being, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. He said the high vaccination rate is expected to help the Malaysian economy to keep moving forward and not be as affected by the Covid-19 p
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The Edge
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Australia Omicron variant spreads, testing reopening plans
MELBOURNE (Dec 4): The Omicron coronavirus variant spread in Australia on Saturday, testing plans to reopen the economy as a cluster in Sydney grew to 13 cases and an infection was suspected in the state of Queensland. Federal authorities are sticking with a plan to reopen the economy on the hope that the new variant proves to be milder than previ
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My Say: Viewing the 12th Malaysia Plan through the lens of decarbonisation
On Sept 27, 2021, at the unveiling of the 12th Malaysia Plan (12MP), Prime Minister Datuk Seri Ismail Sabri Yaakob announced that Malaysia aims to become carbon neutral as early as 2050. The announcement was a pleasant surprise because this preferred deadline is nowhere to be found in the published 12MP. It reveals an impressive understanding by Is
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The Edge
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After calling China’s crackdown, this fund is going big on solar
(Dec 4): One of the few funds to predict Beijing’s clampdown on education companies is doubling down on its bets on China’s solar companies.  Ken Xu, Hong Kong-based chief investment officer at Strategic Vision Investment Ltd, withdrew from tutoring stocks in March after noting that state-backed media outlets and policy makers were echoing angst a
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FMM: M'sia needs to replenish over 600,000 foreign workers by 2022 to overcome current acute manpower shortage that could derail its economic recovery
KUALA LUMPUR (Dec 4): The Federation of Malaysian Manufacturers (FMM) said in a statement Saturday that the country needs to replenish over 600,000 foreign workers by next year in order for the industrial sector, especially export-based companies, to overcome the current acute manpower shortage it is facing, to bring their businesses back to pre-pa
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The Edge
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Hawkish Fed boosts value stocks' appeal for some investors
NEW YORK (Dec 4): Some investors are preparing for a hawkish turn from the Federal Reserve by buying the cyclical, economically-sensitive names they gravitated to earlier this year, as expectations grow that the central bank is zeroing in on fighting inflation. The gap between growth stocks and their value-focused counterparts, which include compa
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The Edge
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Gilead recalls 55,000 vials of Covid-19 drug due to glass shards
(Dec 4): Gilead Sciences Inc said it was recalling two lots of its Covid-19 drug remdesivir in the US after receiving a complaint about glass particles in the vials that was confirmed by a company investigation. The recall involves 55,000 vials of the drug, or enough to treat 11,000 hospitalized patients, company spokesman Chris Ridley said in an
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The Edge
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Facebook whistleblower says transparency needed to fix social media ills
DALLAS (Dec 4): A deeper investigation into Facebook's lack of controls to prevent misinformation and abuse in languages other than English is likely to leave people "even more shocked" about the potential harms caused by the social media firm, whistleblower Frances Haugen told Reuters. Haugen, a former product manager at Meta Platforms Inc's Face
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The Edge
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Six more US states find Omicron cases, Delta still top US coronavirus threat
WASHINGTON (Dec 4): Six more US states confirmed infections of the Omicron variant of Covid-19 on Friday but the Delta strain likely remains a greater threat as winter sets in and Americans gather for the holidays, experts said. New Jersey, Maryland, Missouri, Nebraska, Pennsylvania and Utah each reported their first cases of the Omicron variant o
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IMF chief says Omicron could dent global economic growth
WASHINGTON (Dec 4): The International Monetary Fund is likely to lower its global economic growth estimates due to the new Omicron variant of the coronavirus, the global lender's chief said at the Reuters Next conference on Friday in another sign of the turmoil unleashed by the ever-changing pandemic. Omicron has spread rapidly to at least 40 coun
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The Edge
2h
Didi shares plunge more than 20% on plan to delist from NYSE
HONG KONG (Dec 4): Just five months after its debut, ride-hailing giant Didi Global said it plans to withdraw from the New York Stock Exchange and pursue a Hong Kong listing, a stunning reversal as it bends to Chinese regulators angered by its US IPO. Reaction from investors was swift: the company's shares fell 22.17%, losing about US$8.4 billion
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2h
US and EU hail 'convergent' stances toward China
WASHINGTON (Dec 4): The approach of the United States and Europe toward China is "increasingly convergent," US Deputy Secretary of State Wendy Sherman said on Friday, following meetings with the chief of the European Union's diplomatic service. US President Joe Biden has stressed as a hallmark of his foreign policy the importance of working closel
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The Edge
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US labor market tightening; jobless rate flirts with pre-pandemic lows
WASHINGTON (Dec 4): US employment growth slowed considerably in November amid job losses at retailers and in local government education, but the unemployment rate plunged to a 21-month low of 4.2%, suggesting the labor market was rapidly tightening. The four-tenths-of-a-percentage-point drop in the jobless rate from October reported by the Labor D
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The Edge
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Ringgit set to remain weak against greenback next week over Omicron worries
KUALA LUMPUR (Dec 4): The ringgit is set to remain weaker against the US dollar next week as investors are expected to remain cautious over how the Omicron Covid-19 variant will impact economic recovery. Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said given that the variant of concern (VOC) is still under investigation by
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The Edge
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Bursa Malaysia likely to improve on bargain-hunting next week
KUALA LUMPUR (Dec 4): Bursa Malaysia is likely to trade better with bargain-hunting activities to take the stage next week, given the cheap valuations of the local equity market.  Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng anticipated the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to trade between 1,500 and 1,520 nex
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The Edge
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Covid-19: 86.4% of adolescents in Malaysia fully vaccinated as of Dec 3
KUALA LUMPUR (Dec 4): A total of 2,719,106 individuals or 86.4% of adolescents aged between 12 and 17 in the country had completed their Covid-19 vaccination as of Friday (Dec 3). Based on the Health Ministry’s COVIDNOW portal, 2,828,401 individuals or 89.9% of the adolescent population had received at least one dose of the vaccine. Follow our C
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The Edge
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Wall St ends lower on Omicron worries, Fed taper angst
NEW YORK/BENGALURU (Dec 4): Wall Street's major indexes closed lower on Friday, with the Nasdaq leading the declines as investors bet that a strong jobs report would not slow the Federal Reserve's withdrawal of support all while they grappled with uncertainty around the Omicron coronavirus variant. After opening higher, Wall Street spent the rest
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The Edge
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Oil steadies, paring gains as rising Covid-19 cases spur demand worries
NEW YORK (Dec 4): Crude prices ended little changed on Friday after erasing earlier big gains on growing worries that rising coronavirus cases and a new variant could reduce global oil demand. Earlier in the day, oil prices climbed more than US$2 a barrel after producer group OPEC+ said it could review its policy to hike output at short notice if
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The Edge
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Sime Darby Property changes course
KUALA LUMPUR (Dec 4): To ensure a more sustainable future for itself, Sime Darby Property Bhd (SDP) has initiated a change in its growth strategy.  In a virtual interview with The Edge, group managing director Datuk Azmir Merican talks about how SDP — the country’s largest developer by land bank — has embarked on a mission to transform itself from
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