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Tony Fernandes, CEO of AirAsia, has successfully transformed the struggling airline into one of Asia's most prosperous carriers. AirAsia now operates in multiple countries, carrying over 800 million passengers. The airline is currently restructuring its businesses to become the world's first low-cost network carrier, aiming to democratize air travel by connecting tertiary cities and opening up secondary and tertiary routes. AirAsia is expanding its global network, including African destinations, starting with Nairobi. The airline plans to turn Kuala Lumpur into a global low-cost carrier hub and is considering future connections to other parts of Africa. AirAsia's success is attributed to its presence in diverse markets, affordability, and ability to connect regions. Additionally, the airline operates a successful cargo and logistics business called Teleport. [Extracted from the article]

The article focuses on global chemicals company, BASF SE's continued dominance in the chemical industry's Billion-Dollar Club ranking, having secured the top spot for the fourth consecutive year despite a 19 percent decline in sales from 2022 to 2023. It highlights that, although BASF retained its leading position, the chemical sector experienced a broader downturn with most companies reporting revenue declines.

Malaysia's Second Finance Minister, Amir Hamzah Azizan, predicts faster economic growth, a narrower fiscal gap, and steady prices, leading to a stronger currency and increased investment. The Malaysian ringgit has been performing well in emerging markets due to economic growth exceeding expectations and stable interest rates. The government is focused on multiple growth strategies, fiscal health, and attracting tech investments, aiming to reduce the budget deficit and maintain economic stability amidst global uncertainties. [Extracted from the article]

Malaysian Prime Minister Anwar Ibrahim plans to reduce the fiscal deficit by cutting petrol subsidies and increasing economic growth. The government will end blanket assistance for RON95 petrol in mid-2025, aiming to reduce subsidies and social aid. Anwar's budget includes measures to narrow the budget gap, broaden the tax base, and increase cash handouts for poorer Malaysians, while also focusing on infrastructure development and attracting investment. [Extracted from the article]

The 2025 spending plan in Malaysia includes an increase in the minimum wage, cash handouts for poorer Malaysians, and cuts to petrol subsidies. Winners from the budget include retailers, energy firms, tourism-related companies, and palm oil planters. However, beverage makers and steel producers may face challenges due to increased excise duties and the imposition of a carbon tax, respectively. [Extracted from the article]

Malaysia's sovereign wealth fund, Khazanah Nasional Bhd., is implementing initiatives to support local venture capital funds and attract international managers, with the goal of becoming a venture capital hub by 2030. The fund is launching a program to entice established international fund managers to expand into Malaysia and facilitate the relocation of global companies. Additionally, Khazanah is launching a program in November for local general partners, specifically focusing on venture capital fund managers raising their first, second, or third fund. These efforts are part of Malaysia's broader push to transform its startup ecosystem and rank among the top 20 hubs globally. Khazanah acquired two state-backed venture capitals in July to establish the national fund-of-funds, which has an initial allocation of 1 billion ringgit ($232 million). [Extracted from the article]

Malaysia's Economy Minister, Rafizi Ramli, has stated that the country's faster economic growth and strengthening ringgit are alleviating the need for the government to cut petrol subsidies in order to meet its deficit target for this year. The government now has more flexibility to narrow the budget gap to 4.3% of GDP, compared to 5% last year. However, Rafizi did not rule out the possibility of allowing prices for RON95, the cheapest gasoline, to float this year, which could pose political risks. Prime Minister Anwar Ibrahim is expected to emphasize fiscal consolidation in the upcoming 2025 budget. The Finance Ministry predicts that Malaysia's annual growth will exceed the forecasted range of 4% to 5% this year, and the ringgit has been the top performer in emerging markets. [Extracted from the article]

Public Bank Bhd, Malaysia's second-largest lender, is purchasing the late founder Teh Hong Piow's family stake in LPI Capital Bhd, the owner of Lonpac Insurance Bhd, for 1.72 billion ringgit ($400 million). The deal involves a cash payment for the family's 44.15% interest in LPI at a 25% discount to LPI's closing price on Tuesday. Public Bank aims to expand its general insurance segment and become a fully fledged universal bank. The acquisition will trigger a buyout of the remainder of LPI, and the late founder's estate will also sell a portion of its holdings of Public Bank's shares over a five-year period. [Extracted from the article]

MMC Port Holdings Sdn. is reportedly considering an initial public offering (IPO) in Kuala Lumpur that could raise up to 7 billion ringgit ($1.6 billion), making it the largest IPO in Malaysia in over a decade. The port operator, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary, is working with financial advisers on plans for the IPO, which may take place in the second half of 2025. MMC Port operates seven ports along the Straits of Malacca and is the largest port operator in Malaysia. The details of the IPO are still being discussed and could change. [Extracted from the article]

The onshore yuan experienced its worst day in over a year, causing a decline in various Asian currencies as traders became less optimistic about China's economy. This decline in currency values also affected investor confidence in the rates market. The disappointment stemmed from a briefing by China's top economic planning body, which did not announce any new stimulus measures. This news reversed a period of optimism that had been fueled by previous stimulus measures announced by Beijing. The lack of new measures has dampened sentiment for the yuan and other Asian currencies, while strengthening the US dollar. [Extracted from the article]

According to a report by the World Bank, Malaysia needs to reduce its petrol subsidy in order to meet its budget goals. The government has already announced subsidy reforms that will save about 7.9 billion ringgit ($1.8 billion) this year, but it falls short of the target to cut subsidies and social assistance programs by 11.5 billion ringgit. Prime Minister Anwar Ibrahim's plan to replace broad subsidies with targeted assistance is crucial for narrowing the budget deficit, but a timeline for cutting the RON95 gasoline subsidy has not been specified. The World Bank suggests that Malaysia should consider reintroducing the goods and services tax and implement a combination of progressive taxes, well-targeted subsidies, and cash transfers to benefit low-income groups and improve fiscal space. The World Bank has also raised its growth forecast for Malaysia to 4.9% this year and expects inflation to be around 2%. [Extracted from the article]

China's onshore yuan experienced its worst day in over a year, causing a decline in Asian currencies as traders adjusted their expectations for the Chinese economy. The onshore yuan dropped by 0.9% against the US dollar, its worst performance since June 2023. This decline was partly due to catch-up trading after the Golden Week holiday in China, during which the offshore yuan lost over 1% of its value. The disappointing briefing by China's top economic planning body, which did not announce new stimulus measures, further dampened sentiment and led to a selloff of Asian currencies. [Extracted from the article]

Emerging-market currencies have fallen for the fifth consecutive day as traders reduce their bets on a significant interest-rate cut from the Federal Reserve. The MSCI Inc. gauge for developing-nation currencies has experienced its longest streak of losses since July. The Malaysian ringgit and the Indonesian rupiah were among the worst performers. Traders have been reevaluating the Fed's policy easing following stronger-than-expected US jobs data, leading to a rise in US Treasury 10-year yields and a decrease in bearish bets on the US dollar. JPMorgan Chase & Co. strategists have also lowered their recommendation on EM local-currency debt due to risks associated with the upcoming US presidential election. [Extracted from the article]

Emerging-market currencies have declined for a fifth consecutive session as traders reduce their bets on a significant interest-rate cut from the Federal Reserve. This comes after signs of a resilient US economy, including stronger-than-expected jobs data. The Malaysian ringgit and Indonesian rupiah were among the worst-performing currencies. Traders are reevaluating the Fed's policy easing, leading to pressure on emerging-market currencies in the short term. JPMorgan Chase & Co. has also cut its recommendation on emerging-market local-currency debt due to risks associated with the upcoming US presidential election. However, emerging-market equities have seen gains, driven by Asian semiconductor companies and optimism about stimulus measures in China. El Salvador's notes have also risen after the government launched a tender offer for several debt instruments. [Extracted from the article]

The Philippine central bank governor, Eli Remolona, stated that he is comfortable with the recent rally of the Philippine peso, as it is not as significant as the gains seen in other Asian currencies. The central bank has not intervened in the foreign-exchange market to curb the peso's appreciation. The peso has risen to its strongest level since March, but it has lagged behind regional counterparts. The central bank assumes that the peso will trade at around 55 to 56 per dollar until the end of the year. Remolona also mentioned that the central bank plans to reduce its benchmark interest rate by around 175 basis points through the end of next year. The central bank is working on revamping the market for swaps and enhancing the repo market to facilitate the country's accession to global benchmarks. [Extracted from the article]

Asian currencies are experiencing their worst week in over a year as traders reduce their bets on aggressive interest-rate cuts by the Federal Reserve. The Bloomberg gauge of Asian currencies has fallen by 0.8% this week, with the Malaysian ringgit, Indonesian rupiah, and Thai baht being the hardest hit. This decline comes after a strong performance last quarter, where Asian currencies were the best performers among emerging peers. The weakening of the dollar is seen as excessive, and US non-farm payrolls data is expected to confirm expectations of a 25 basis point cut by the Fed. However, rising tensions in the Middle East and concerns about the sustainability of a China-linked rally are likely to continue to put pressure on Asian currencies. [Extracted from the article]

The Philippine central bank governor, Eli Remolona, stated that he is comfortable with the recent rally of the Philippine peso, as the gains are not as significant as those seen in other Asian countries. The central bank has not intervened in the foreign-exchange market to curb the peso's appreciation. While the peso advanced 4.6% last quarter, it has lagged behind other regional currencies. The central bank assumes that the peso will trade at around 55 to 56 per dollar until the end of the year. Additionally, Remolona mentioned that the central bank is likely to reduce its benchmark interest rate by around 175 basis points through the end of next year. [Extracted from the article]

Chinese stocks experienced a pause in their recent rally, causing a drop in emerging-market stocks. Geopolitical concerns overshadowed the excitement surrounding stimulus measures in China, leading to a decline in the Hang Seng China Enterprises Index and MSCI Inc.'s benchmark for emerging-market equities. The conflict in the Middle East posed multiple threats to emerging markets, including oil-supply disruptions and elevated political-risk premiums. Despite the pullback, money managers believe that the outlook for China remains positive due to the stimulus measures. [Extracted from the article]

Palm oil prices have rebounded due to increased demand from India and a weaker Malaysian currency. India is expected to make purchases ahead of the Hindu festival season, which typically sees a rise in palm oil consumption for cooking and deep frying. Additionally, a jump in soybean oil prices and bargain-buying, along with a weaker ringgit, have contributed to the upward momentum of palm oil prices. [Extracted from the article]

Emerging-market currencies have weakened due to expectations of slower interest-rate cuts from the Federal Reserve. The MSCI gauge tracking EM currency returns dropped 0.3%, with the Thai baht and Malaysian ringgit experiencing the largest declines. Asian currencies were particularly affected after Federal Reserve Chair Jerome Powell indicated that rate cuts are likely at the next two meetings. Despite escalating conflict in the Middle East, oil prices dipped and there were minimal market impacts. In European emerging markets, the central bank in Poland is expected to keep interest rates unchanged. [Extracted from the article]

The Malaysian stock exchange, Bursa Malaysia, is considering a plan to improve the valuations of local companies in order to attract global investors. The exchange is looking to implement a framework where companies will be given targets on metrics such as price-to-earnings ratio, return on equity, and free float. This move is part of a larger trend in Asia, with countries like Japan, South Korea, and China also seeking to boost shareholder returns and attract foreign investment. Bursa Malaysia is aiming for 50 initial public offerings in 2025 and expects more regional companies, including those based in Singapore, to seek dual listings or raise capital in Kuala Lumpur. [Extracted from the article]

Palm oil prices have dropped for a second consecutive day due to lower soybean oil prices and a stronger Malaysian currency. The decline in palm oil prices is primarily attributed to the decrease in rival soybean oil prices. Additionally, the strengthening of the Malaysian ringgit may negatively impact demand as the higher-producing season approaches. The ringgit has experienced a significant increase of almost 15% this quarter, reaching its highest level in three years. [Extracted from the article]

The Malaysian ringgit is on track to have its best quarter ever, with a nearly 15% increase against the US dollar in the past three months. This surge is attributed to China's recent stimulus measures, which have improved Malaysia's trade outlook. The ringgit has outperformed other emerging market currencies this year due to narrowing rate differentials with the US and a rebound in exports. While some market indicators suggest that the ringgit's surge may be stretched, experts expect a slight weakening by the end of the year before a continued rally in 2025. [Extracted from the article]

Emerging-market stocks and currencies had a strong week, with the MSCI index for emerging stocks closing 1% higher and the index for developing currencies gaining 0.2%. China's stimulus measures and expectations of further rate cuts by the Federal Reserve supported riskier assets. The recent stimulus measures in China have boosted risk sentiment for emerging markets, and the Federal Reserve's larger-than-anticipated interest rate cut has also contributed to the positive market performance. Asian currencies, such as the Taiwanese dollar and South Korean won, led the gains, while Mexico's peso underperformed. In credit markets, Sri Lanka bonds outperformed peers, while Senegal's sovereign dollar bonds tumbled after a probe into the previous administration's handling of the country's finances. Moody's Ratings also cut Israel's credit rating due to intensified geopolitical risk. [Extracted from the article]

Malaysia's top-performing fund, Singular Asset Management, is switching its focus to consumer stocks due to a stronger ringgit. The fund's founder and chief investment officer, Kok Lin Teoh, believes that consumer companies will see better margins as the import of raw inputs becomes cheaper. Teoh is reducing holdings in export-oriented industries and moving towards domestic-oriented sectors, such as banks and consumer stocks. The Malaysian ringgit has strengthened, and coupled with higher disposable incomes, this may spur consumer spending. The consumer sector is also expected to benefit from higher economic expansion. The Singular Value Fund has outperformed 95% of its peers this year with returns of 31%. [Extracted from the article]

A recent study conducted by researchers at the Ministry of Health in Kota Kinabalu, Malaysia, aimed to determine the cost-effectiveness of mobile targeted active case detection (MTACD) programs in the early detection of tuberculosis (TB) cases. The study compared MTACD with passive case detection (PCD) from the provider's perspective. The findings showed that while MTACD had higher costs per screening, it resulted in a shorter time to detect TB cases compared to PCD. This study suggests that MTACD can be beneficial in budgeting for TB programs as it allows for earlier detection and treatment of TB cases. [Extracted from the article]

Emerging-market stocks and currencies have continued to gain momentum due to signs of a cooling US economy and China's ongoing stimulus measures. The MSCI index for emerging stocks has seen its biggest rally since November 2020, with a 6.4% increase for the week. The Federal Reserve's preferred gauge of US inflation rose moderately in August, while China's stimulus measures have boosted risk sentiment for emerging markets. This combination of factors has attracted investors' attention to China's equity market and led to gains in currencies such as Chile's peso, the South Korean won, and the Malaysian ringgit. However, there have been some challenges in the credit market, with Sri Lanka's bonds outperforming peers and Senegal's sovereign dollar bonds experiencing a decline due to a government probe into the previous administration's handling of the country's finances. [Extracted from the article]

Palm oil prices have fallen after a seven-day rally due to a stronger Malaysian currency, making the oil more expensive for international buyers. The surge in prices was driven by expectations of higher demand and tightening supplies, but some experts believe that the rally may have been too rapid. Palm oil is no longer the cheapest vegetable oil, as output in major producing countries is expected to decrease and soybean oil supplies are abundant. The premium price of palm oil compared to other oils may also discourage buyers. [Extracted from the article]

Emerging-market stocks experienced their best day in almost a year, driven by new stimulus commitments from the Chinese government and positive economic data from the US. The rally was sparked by China's leaders announcing plans for increased fiscal spending, measures to stabilize the property sector, and rate cuts. Additionally, the US economy showed stronger-than-expected recovery from the pandemic, and jobless claims indicated a resilient labor market. Emerging currencies mostly gained, with the Chilean peso leading the way, while the Mexican peso briefly extended gains after the central bank lowered borrowing costs. El Salvador sovereign bonds performed well, while Ecuador's dollar bonds suffered due to ongoing forest fires and power cuts. Sri Lanka dollar bonds also saw gains as the new president expressed intentions to establish stability before implementing other initiatives. In the Middle East, the shekel and Israeli stocks rose amid diplomatic efforts for a potential truce between Israel and Hezbollah in Lebanon. [Extracted from the article]

According to Malaysia's central bank, the ringgit's recent rally is expected to continue due to the country's positive economic outlook and reforms. The bank believes that Malaysia's economic prospects, along with initiatives to encourage flows, will provide enduring support to the currency. Despite the ringgit's significant surge this quarter, policymakers do not appear to be concerned. The currency may take a breather after its sharp gains, but the narrowing of interest-rate differentials with the US is expected to attract portfolio inflows. Prime Minister Anwar Ibrahim's government is also taking steps to boost investor confidence in the country. [Extracted from the article]

The baht, Thailand's currency, has reached its strongest level in 30 months due to China's stimulus measures and increased risk appetite globally. This has put pressure on the Bank of Thailand to take action to curb the baht's rally. The strong baht is a concern for Thailand's exports and tourism sectors, and the finance minister has called for lower interest rates to slow the currency's rise. The central bank is closely monitoring the situation and will discuss it in upcoming talks. [Extracted from the article]

Emerging-market stocks have risen for a fifth consecutive day due to China's recent stimulus measures, which have increased global appetite for riskier assets. The MSCI equity index for emerging economies has reached its highest level in over two years and is on track for a monthly gain. Developing market currencies have also seen gains, with Asian currencies leading the rally. Additionally, there are updates on political developments in Sri Lanka, Pakistan's loan program review by the International Monetary Fund, and Argentina's negotiations for a new program with the IMF. [Extracted from the article]

The Malaysian ringgit is expected to continue its recent rally, which has made it the best performing emerging-market currency this quarter. Factors such as narrowing rate differentials with the US, improved trade performance, and attractive asset valuations are likely to strengthen the ringgit further. The country's current account surplus, stable fundamentals, and a neutral central bank stance may also contribute to its gains. Foreign investor flows and the conversion of foreign currency deposits are expected to support the ringgit as well. However, market indicators suggest that the current surge in the ringgit may be stretched, and traders will be closely monitoring the country's budget announcement for progress on subsidy reforms and fiscal deficit. [Extracted from the article]

Stock markets in developing nations have reached their highest level in two and a half years due to China's economic stimulus and dovish signals from US Federal Reserve officials. The MSCI equity index for emerging economies rose 1.5% for a fourth consecutive day, driven by blue-chip stocks in Hong Kong such as Tencent Holdings and Alibaba Group. China's measures to address concerns over slowing growth, including easing monetary conditions and providing liquidity support for stocks, have improved investor sentiment. Emerging-market currencies have also rebounded against the dollar, and credit markets in Sri Lanka and Turkey have remained steady. [Extracted from the article]

The Malaysian ringgit is experiencing its best quarter since 1973, with a 12% increase against the US dollar. Analysts predict that the ringgit may continue to strengthen due to narrowing rate differentials with the US, improved trade performance, and attractive asset valuations. Factors such as Malaysia's current account surplus, stable fundamentals, and a neutral central bank stance may contribute to further gains. The ringgit's recent rally is attributed to a rebound in exports and efforts by the central bank to encourage repatriation of overseas investment income. Foreign investor flows and a rotation into Asia are also expected to support the currency. However, market indicators suggest that the surge in the ringgit may be stretched, and traders will closely monitor the country's budget announcement for progress on subsidy reforms and fiscal deficit. Overall, the ringgit is considered attractive and cheap based on its effective exchange rate. [Extracted from the article]

The Malaysian ringgit is experiencing its best quarter since 1973, with a 12% increase against the US dollar. This growth is attributed to narrowing rate differentials with the US, improved trade performance, and attractive asset valuations. The country's current account surplus, stable fundamentals, and neutral central bank stance are expected to contribute to further gains. Foreign investor flows and the conversion of foreign currency deposits are also supporting the ringgit. However, market indicators suggest that the surge in the ringgit may be reaching its limit, and traders are monitoring the country's budget announcement for progress on subsidy reforms and fiscal deficit. [Extracted from the article]

The Federal Reserve's decision to cut interest rates is expected to have a positive impact on Asian assets. Money managers and strategists believe that the rate cut will help offset the challenges facing Asian assets, such as expensive valuations, China's economic slowdown, and growing trade tensions. Asian assets, including regional stocks and currencies, responded positively to the Fed's decision. The rate cut also gives Asian central banks more confidence to ease monetary policy without worrying about currency pressures. Additionally, corporate earnings growth in Asia is outpacing the rest of the world. Eastspring Investments and other experts believe that Asian assets will benefit more than assets from other regions from the Fed's pivot. [Extracted from the article]

According to veteran trader Dorab Mistry, palm oil is expected to enter a new bull phase in early 2025 due to strong demand from biofuel makers and increased purchases by India and China. Crop-based fuels are the fastest growing segment of global vegetable oil demand, and subsidies for the sector have also increased. Mistry predicts that palm oil will trade between $3,700 and $4,500 ringgit per ton until June 2025, with purchases for the Chinese New Year and Ramadan in the first quarter of the year expected to further boost the market. Mistry also highlights rising rapeseed oil prices, declining palm oil production due to aging trees and limited plantation expansion, and a projected increase in world food demand for vegetable oils. [Extracted from the article]

Asian currencies have reached their highest level in over a year following the Federal Reserve's decision to cut interest rates and indicate further reductions. The Bloomberg Asia Dollar Index rose by 0.2%, with the Indonesian rupiah and South Korean won leading the gains. The Fed's rate cut weakened the US dollar, resulting in other emerging-market currencies, such as the Mexican peso and South African rand, also rising. While some analysts expect further appreciation in Asian currencies in the fourth quarter, they anticipate a reversal in 2025. The growth prospects in Asia, along with the weakened US dollar, are contributing to the strength of Asian currencies. [Extracted from the article]

Emerging-market currencies have been gaining for six consecutive days as traders anticipate the Federal Reserve's decision on its first interest-rate cut since 2020. The decision is expected to be a close call between a quarter-point or 50 basis-point cut. East European currencies, such as the Czech koruna and the Polish zloty, have performed well due to a risk-on sentiment prevailing over concerns about flooding. The South African rand has also appreciated, while the Mexican peso remained stable. Brazil is expected to hike its benchmark rate, and Romania plans to sell its first-ever bonds on the Japanese market. [Extracted from the article]

Emerging-market assets are experiencing a rally in anticipation of the Federal Reserve's expected rate cut, with a weaker dollar and lower Treasury yields supporting risk appetite. The MSCI equity index and the MSCI index tracking developing-nation currencies have both seen gains, with the Malaysian ringgit, Indonesian rupiah, and Philippine peso leading the way. However, there is some debate among traders about the extent of the rate cut, with some expecting a 25 basis point cut and others predicting a 50 basis point cut. While some analysts believe the rally in emerging-market assets may be overdone, others see the Fed's easing bets as supportive of risk conditions. Additionally, Egypt's dollar bonds have rallied after Saudi Arabia's sovereign wealth fund announced a potential $5 billion investment, and central and east European countries are assessing the impact of widespread floods on their economies. [Extracted from the article]

Asian stocks struggled to find direction on Monday as traders assessed the impact of weak Chinese economic data. Chinese factory output, consumption, and investment all slowed more than expected in August, while the jobless rate reached a six-month high. The poor data has raised concerns about the need for forceful stimulus measures to support the Chinese economy. The cautious market sentiment is also influenced by upcoming data releases and central bank decisions, including an expected rate cut by the Federal Reserve. [Extracted from the article]

Asian stocks are expected to have a cautious start to the week following disappointing economic data from China. Chinese factory output, consumption, and investment all slowed more than expected in August, while the jobless rate reached a six-month high. The decline in housing prices is also causing concern among traders. The dollar remained steady after an apparent assassination attempt against former President Donald Trump. This week will see a range of data releases and central bank decisions that will likely shape market direction for the rest of the year. [Extracted from the article]

Palm oil futures have declined for a second day due to the strengthening of the Malaysian currency, which has made the tropical oil more expensive for international buyers. The market in Kuala Lumpur is facing pressure as a result. Additionally, there is caution among market participants due to the possibility of Indonesia, the largest grower, reducing export duties to boost sales. Benchmark palm oil prices have fallen by 0.8% to 3,822 ringgit a ton, with a 1.7% decrease for the week and nearly a 4% decrease for the month. [Extracted from the article]