BRUSSELS: Eurozone inflation unexpectedly quickened, backing the European Central Bank’s (ECB) caution on interest rates, particularly as the war in Iran sends energy prices surging. Consumer prices rose 1.9% from a year ago in February – up from 1.7% in January and just below the ECB’s 2% target. Core inflation, excluding volatile food and energy costs, also surprised economists by accelerating to 2.4%. “Eurozone inflation was probably driven higher in February by the Olympic Games in Milan, offering little insight into underlying price pressures,” Bloomberg Economics’ David Powell, a senior eurozone economist, said. “We don’t know much so I would certainly not rush to react to any movements to energy prices,” Wunsch said.

KUALA LUMPUR (March 5): West River Bhd (KL:WESTRVR) has secured an electrical services contract worth RM11.28 million for the Park Green development at Pavilion Bukit Jalil. In a bourse filing, the group said its wholly-owned subsidiary, West River Engineering Sdn Bhd, had accepted the letter of award from BUCG (M) Sdn Bhd. The sub-contract involves the alternative design, supply, delivery, installation, testing and commissioning of electrical systems for two 47-storey serviced apartment towers. Scheduled for completion by July 31, 2028, the contract is on a lump-sum firm price basis, derived from agreed unit rates. West River managing director Lim Yong Lai said the award reinforces the company’s position as a reliable mechanical and engineering (M&E) partner for high-rise developments in the Klang Valley.

(March 5): UK construction activity unexpectedly declined at a sharper pace in February, according to a closely watched survey, with housebuilding particularly weak. S&P Global’s overall construction purchasing managers’ index (PMI) fell to 44.5, from January’s seven-month high of 46.4. Housebuilding remained the worse sub-sector in February, shrinking at a faster rate than commercial construction and civil engineering. The construction industry has been shrinking for 14 months and the latest slowdown was faster than the average recorded over that period. Commercial activity also shrunk at a faster pace in February, while the downturn in civil engineering showed signs of easing.

Bursa Malaysia ended higher today in line with regional equities as bargain hunting emerged after the benchmark index briefly slipped below the psychological 1,700 level in recent trading sessions. NSTP/AIMAN HARIZ AZHARKUALA LUMPUR: Bursa Malaysia ended higher today in line with regional equities as bargain hunting emerged after the benchmark index briefly slipped below the psychological 1,700 level in recent trading sessions. Gainers beat losers by 572 to 511, while 523 counters were unchanged, 1,016 untraded, and 11 suspended. He added that the rebound suggested that investors were carefully buying stocks with strong fundamentals following the recent market pullback. "As such, we anticipate the FBM KLCI to move within the 1,690-1,720 range towards the weekend," he added.

Momenta may seek to raise at least US$1 billion (RM3.94 billion) in the IPO, the people said, adding that deliberations are ongoing and no final decisions have been made. Other self-driving firms — including Pony AI Inc and WeRide Inc — have tapped Hong Kong’s capital markets to support their growth and tech development. Momenta had previously considered listing in the US, confidentially filing for an IPO in 2024, people familiar with the matter said at the time. GM announced a US$300 million investment in Momenta in 2021 to accelerate the development of self-driving tech for its cars in China. Momenta also has partnerships including with Uber Technologies Inc on robotaxis, as well as Grab Holdings Ltd.

(March 5): Qatar Airways said it’s starting a limited number of relief flights on Thursday to help passengers stranded in the Middle East get out, as commercial services remain suspended due to the closed airspace. The Qatar Civil Aviation Authority has kept the airspace closed since Saturday, and the airline said it would provide another update on Friday. Oman has emerged as a haven for evacuation alongside Saudi Arabia, as flights from both countries remain operational. Emirates has already conducted some evacuation flights over the past days, though its regular service remains suspended. Qatar cautioned that passengers should not head to the evacuation airports unless notified by the airline for the flights being offered.

KUALA LUMPUR (March 5): Paramount Corp Bhd (KL:PARAMON) is aiming for higher property sales this year and is confident that its margins will withstand cost pressures amid Middle East tensions. Paramount sold RM1.03 billion worth of properties in 2025. Last year, Paramount launched five projects worth RM808 million in gross development value combined in Penang, Kedah and Selangor. The group currently holds about RM900 million worth of such assets, which generate relatively low returns of about 1% ROE (return on equity), he said. We want to reinvest it into property development, which can generate higher returns compared with the low ROE we are getting now,” he said.

Oil markets are tightening, with the Chinese government telling the largest oil refiners to suspend exports of diesel and gasoline, said PVM analyst John Evans. Two oil refineries in China and India shut their crude units following the disruption to supplies, as both countries rely on Middle East crude imports. As a result of a lower supply outlook in fuel markets, European diesel futures reached their highest level since October 2022 at US$1,130. Crude oil markets remained on edge as they face ongoing risks to supply following the attacks in the Middle East, with concerns centred on trade flows through the Strait of Hormuz, ANZ analysts said in a note on Thursday. Continued attacks on oil tankersAttacks on oil tankers continued on Thursday, as the Bahamas-flagged crude oil tanker Sonangol Namibe reported its hull was breached after a blast near Iraq's Khor al Zubair port.

KUALA LUMPUR (March 5): DAP on Thursday expressed disappointment over the Dewan Rakyat’s failure to pass the Constitution (Amendment) Bill 2026, which seeks to limit the prime minister’s tenure to 10 years. DAP secretary general Anthony Loke Siew Fook said the party’s stance was conveyed during its central executive committee monthly meeting on Wednesday (March 4) night. On Monday (March 2), the bill failed to secure the required two-thirds majority support in the Dewan Rakyat. Dewan Rakyat Speaker Tan Sri Johari Abdul announced that the bloc vote saw 146 members of Parliament (MPs) in favour, 32 absent, and 44 abstained. On Wednesday, Government spokesman and Communications Minister Datuk Fahmi Fadzil said the bill would be retabled during the next Dewan Rakyat session in June.

PUTRAJAYA (March 5): All agencies and departments under the Home Ministry have been urged to speed up the adoption of artificial intelligence (AI) technology to boost productivity, enhance work efficiency and improve public service delivery. Home Minister Datuk Seri Saifuddin Nasution Ismail said that AI was a key tool for organisations to think ahead and improve administrative efficiency. Also present were Deputy Home Minister Datuk Seri Dr Shamsul Anuar Nasarah, KDN secretary-general Datuk Dr Awang Alik Jeman, Inspector-General of Police Datuk Seri Mohd Khalid Ismail, and Immigration director-general Datuk Zakaria Shaaban. Saifuddin Nasution said the use of AI had become a new requirement in modern administration and that KDN had taken preliminary steps in the past two years through the AI for KDN, KDN for AI initiative. Full utilisation of this technology would result in faster work outcomes, higher productivity, and better service delivery to the public, he added.

BEIJING (March 5): China on Thursday said it would crack down on overcapacity in steel, oil refining and other heavy industries, repeating some of the pledges made a year ago, as the world's largest commodity producer grapples with persistent oversupply. Beijing has long targeted its massive steel sector for reform, but the language this year is less specific than at the last annual meeting of the National People's Congress. In the same report in March 2025, Beijing vowed to restructure the steel sector by cutting output. On Thursday, China said it would intensify efforts to explore, develop and stockpile strategic mineral resources, while also increasing overseas resource exploitation. China also said it would continue to strengthen and build its secretive strategic commodity stockpiles without giving any details.

He said several improvements will be made to the country’s rail infrastructure to facilitate this shift that is necessary to address traffic congestion, reduce the rate of accidents involving heavy vehicles and support the sustainability agenda. When contacted, the Association of Malaysian Hauliers (AMH) said it fully supports the Government’s policy to promote a more balanced and sustainable modal share between road and rail freight, including the strengthening of enforcement against overloading on roads. “AMH agrees that rail transport plays an important strategic role in moving heavy and long-distance cargo efficiently while reducing road congestion, infrastructure wear and environmental impact,” said Mohd Azuan Masud, AMH secretary general. Road transport, meanwhile, is essential for first-mile and last-mile movements, particularly for container movements between ports, depots, factories and warehouses, many of which do not have direct rail access. “With infrastructure upgrades nearing completion and capacity enhancements underway, we are confident that the pace of cargo migration from road to rail will accelerate.”

MUAR: Police found drugs in a four-wheel-drive (4WD) vehicle after it was involved in a fatal accident with a motorcycle on Jalan Rencong in Lenga near here. Muar OCPD Asst Comm Raiz Mukhliz Azman Aziz said the drugs were 20 erimin pills weighing 5.15g, and 0.39g of syabu. “The vehicle then crashed into a motorcycle coming from the other direction at a road corner," he said in a statement. ACP Raiz Mukhliz said the victims were identified as Norman Ahmad, 47, and his 77-year-old uncle Sa’at Kassim, both from Kampung Bukit Bandar in Bukit Kepong, Muar. The case is being investigated under 44(1)(A) of the Road Transport Act 1987, and Section 12(2) and Section 15(1)(A) of the Dangerous Drugs Act 1952.

The Prime Minister said that a total of RM933,360,633.77 had been paid out between 2020 and last year. He said the payments followed court rulings against offences, negligence and wrongful acts committed by government officers or agencies. “A letter of reprimand will also be issued to the relevant ministry so that appropriate action can be taken,” he said. Meanwhile, the Prime Minister said that more than 12.5 million Malaysians have benefited from the Sumbangan Asas Rahmah (Sara) untuk Semua programme, with expenditures exceeding RM1bil within just three weeks of its announcement. It said the use of MyKad as the medium for the Sara Untuk Semua programme makes it easier for the public to utilise targeted aid more efficiently.

(March 5): Qantas Airways Ltd and Air India are adding long-haul flights after the war in the Middle East knocked out carriers in the region, roiling travel plans and causing airfares to skyrocket. Qantas, Australia’s flag carrier, has seen a “spike in customers travelling via the US” to get to their final destinations, the company said in an email on Thursday. Meanwhile, Air India is adding several extra flights from March 5 to March 10, including three extra flights to Toronto and Frankfurt from New Delhi, and another one from the Indian capital to Paris, it said in a post on X. The Indian flag carrier said it will look at adding more flights beyond March 11. That’s knocked out more than 10% of daily international flight capacity, according to consultancy OAG Aviation, which is leading some airfares at other airlines to surge as much as 900%.