(March 13): Singapore said it ran a trade deficit with the US in 2024, disputing figures published by Washington that showed the city-state posted a surplus and challenging suggestions that it is contributing to global manufacturing overcapacity. In a Federal Register notice, the USTR highlighted Singapore as having a bilateral trade surplus with the US in both goods and services amounting to US$27 billion (RM106 billion) in 2024. Singapore’s Ministry of Trade and Industry (MTI) said in a statement on Thursday that isn’t borne out by the US’s own data. Citing figures from the US Bureau of Economic Analysis, the ministry said Singapore had a US$1.7 billion goods trade deficit and a US$25.1 billion services trade deficit with the US in 2024 — leaving it with a total trade deficit of about US$27 billion. Singapore said it has provided the USTR with its data and will engage the agency to seek clarification on the trade figures and the basis of the Section 301 investigations.

The company’s American depositary receipts (ADRs) closed at US$18.16 each in New York, above its IPO price of US$16. The trading gives the company a market value of around US$12.1 billion, based on the outstanding shares listed in its filings. PayPay sold 31.1 million ADRs, while an affiliate of SoftBank Vision Fund II, an investment arm of the Japanese conglomerate, sold 23.9 million. PayPay originated in 2018 as a joint venture with Vision Fund-backed Indian payments company Paytm. SoftBank Group was expected to control about 92% of the votes in PayPay following the IPO, the filings showed.

TOKYO (March 13): Shares in Honda Motor ​fell more than 6% in Tokyo on ‌Friday after the automaker flagged its first annual loss in almost 70 years as a ​listed company, hit by up to $15.7 ​billion in restructuring costs tied to its ⁠electric-vehicle business. Honda stock was down 6.7% at ​1,352 yen as of 0040 GMT, making ​it the biggest decliner on the benchmark Nikkei 225. Japan's second-largest automaker said on Thursday it expects a ‌hit ⁠of as much as 2.5 trillion yen ($15.7 billion) as it cancels three EV models planned for production in the U.S. It ​is likely ​to book ⁠as much as 1.3 trillion yen of those costs this ​fiscal year and 1.2 trillion yen ​the ⁠next. Honda is also writing down the value of its China business, where it has ⁠struggled ​to compete with rivals ​such as BYD offering more advanced, software-driven vehicles.

(March 13): Adobe Inc chief executive officer Shantanu Narayen will resign from his position atop the creative software giant amid deep scepticism about the company’s ability to thrive in the artificial intelligence (AI) era. Narayen, who has served as the CEO for 18 years, will remain in the position until a successor has been appointed, Adobe said on Thursday in a statement. Many of the most popular new AI creative tools, such as Google’s Veo 3 AI models, are built by competitors. Also on Thursday, Adobe projected revenue will be US$6.43 billion to US$6.48 billion in the period ending in May. Creative and marketing professionals generated US$4.39 billion in subscription revenue, while business professionals and consumers produced US$1.78 billion.

The widely expected changes are part of a broader capital overhaul that marks the culmination of a years-long effort by Wall Street banks to ease rules, introduced ​following the 2007-09 financial crisis, which they say are stymieing economic growth. The Fed will vote on the proposal at a board meeting next ​week, the central bank announced after her speech. CAPITAL TO FALL BY 'SMALL AMOUNT'Banking regulators ​are also easing a related leverage ratio, and the Fed is making its annual bank stress tests -- which set some capital levels -- more ​transparent. In aggregate, the "sensible" changes will lower large bank capital requirements a "small amount" in line with 2019 levels, said Bowman. "The capital proposal outlined today suggests a welcome focus on risk-sensitivity and a comprehensive view, taking into account the cumulative effects of all capital requirements.

MADRID (March 12): International Consolidated ​Airline Group's ‌Spanish carrier Iberia said ​on Thursday ​it plans to ⁠lay ​off up to ​996 workers. Iberia said it had ​established ​a timetable for negotiations ‌with ⁠workers' representatives. The cuts will ​include ​106 ⁠pilots and cabin ​crew and ​753 ⁠ground crew, Iberia ⁠said.

However, historical records suggest that a lesser-known Chinese woman holds claim to the title of the most successful pirate the world has ever seen. Verdict:TRUEChing Shih, also known as Zheng Yi Sao (literally 'Zheng Yi's wife'), was a Cantonese woman who worked on a floating brothel in Guangdong, China. Around 1801, she married pirate commander Zheng Yi, who controlled a large pirate confederation in the South China Sea. When Zheng Yi died, Ching Shih did something extraordinary. And, unlike the stereotypical pirate whose life was cut short by battle or execution, Ching Shih’s story was victorious to the end.

As of last Friday, full-year 2026 earnings growth estimates, according to LSEG data, were nearly 16%, up from 14% last year and 12% the year before. Average oil prices this year will almost certainly be much higher than businesses were budgeting for on Jan 1. Sustained higher oil prices boost energy sector profits, and double-digit earnings growth for the sector is not out of the question. AI arms race even more expensive nowWithin current 2026 earnings growth forecasts, there is incredibly wide dispersion among the 11 sectors. But higher energy prices are a blow for the mega-cap firms leading the artificial intelligence (AI) arms race.

KUALA LUMPUR: Three people, including a seven-month-old baby boy, have been killed in a two-vehicle collision on Jalan Bunga Kertas, Bukit Sentosa in Hulu Selangor. Hulu Selangor OCPD Supt Ibrahim Husin said preliminary investigations found that the accident occurred at about 9am on Thursday (March 12) when a car turning right at the junction and failed to avoid a motorcycle, which grazed the left of the car. "The 25-year-old motorcyclist, a salesman, and an 88-year-old female passenger in the car were confirmed dead at the scene," he said in a statement on Thursday. Ibrahim said the male car driver and a woman seated in the front seat, both aged 60, sustained minor injuries and were taken to the hospital. Those with information on the accident are urged to contact traffic investigation officer Insp Mohammadi Mt Abu @ Ramli at 03-6064 1222 or the nearest police station.

PARIS (AFP): The Mideast war "is creating the largest supply disruption in the history of the global oil market", as Iran's chokehold on regional supplies forces Gulf producers to slash production, the International Energy Agency said Thursday (March 12). The conflict, which was triggered on Feb 28 by American-Israeli attacks on Iran, is hampering the global economy's supply of oil and weakening production capacity. Despite efforts to stave off the disruption via emergency stockpiles, the IEA forecast March global oil supplies would drop 8 million bpd to 98.8 million bpd for their lowest level in four years. The IEA added supply curtailments in the Middle East are being partly offset by higher output from non-OPEC+ producers, Kazakhstan and Russia. While overall supply losses would depend on the duration of the war, it estimated global oil supply would rise 1.1 million bpd in 2026 on average, with non-OPEC+ producers accounting for the entire increase.

Currently serving as an ambassador for approximately 10 brands, Alif, 36, views these partnerships as more than just professional obligations, they are vital conduits for spreading positivity. Whether it's spearheading charitable initiatives or partnering with strategic allies, multi-talented entertainer Alif Satar remains remarkably energetic during Ramadan. Currently serving as an ambassador for approximately 10 brands, Alif, 36, views these partnerships as more than just professional obligations, they are vital conduits for spreading positivity. Ramadan is the perfect time to encourage others to do good, whether it is donating or visiting the mosque." To ensure he can focus on worship and family during Ramadan, Alif plans his entertainment commitments months in advance.

PETALING JAYA: Datuk Seri Hishammuddin Hussein says he is ready to return and be active in Umno once again if his suspension is lifted. Hishammuddin, who is also Sembrong MP, said he never left the party even when he was was given a six-year suspension in January 2023. Hishammuddin, a former Umno vice-president, said he was touched by Ahmad Zahid's remarks. Former Umno members who wish to rejoin must apply formally by writing to Umno secretary-general Datuk Asyraf Wajdi Dusuki. In January 2023, former Umno Youth chief Khairy Jamaluddin was sacked from the party, while Hishammuddin and former party information chief Shahril Hamdan were suspended for six years.

PUTRAJAYA: The Federal Territories Islamic Religious Department (Jawi) has been instructed to investigate the use of a banner displaying a translated Quranic verse that was allegedly misused to promote deviant culture during a parade in the capital city recently. Minister in the Prime Minister's Department (Religious Affairs) Dr Zulkifli Hasan said Jawi had been directed to take action under the law after the banner, which contained a mistranslated verse from the Holy Quran, went viral on social media. "I strongly condemn this act as it not only hurts the feelings of Muslims, especially during the holy month of Ramadan, but also tarnishes the sanctity of the Quran as the verse was interpreted far from its true context and meaning," he said in a statement Thursday (March 12). He also urged all parties to appreciate the Quran through its long-standing scholarly tradition and not interpret its verses arbitrarily based on personal desires, which could distort their true meaning, especially to justify practices that contradict Islamic values. Earlier, images of the banner circulated widely on social media after it was displayed during a parade in the capital city, drawing criticism for allegedly distorting the meaning of a Quranic verse to support a deviant cultural agenda.

PETALING JAYA: The Asian Football Confederation (AFC) have confirmed that the quarter-final stage of the AFC Champions League Elite will proceed in Jeddah, Saudi Arabia, from April 16-25, despite the ongoing conflict in the Middle East. However, AFC secretary general Datuk Seri Windsor Paul said the governing body have no plans to alter the schedule for now. The latest flare-up in the Middle East has seen renewed military exchanges involving several nations, raising concerns about regional stability. Johor Darul Ta’zim are the Malaysian representatives competing in the AFC Champions League Elite. This unique centralised format features Asia’s top eight clubs clashing in a centralised format in single-leg ties.

KUALA LUMPUR: Another five individuals who were caught littering in public areas here found themselves taking up the role of street cleaners on Thursday following a court order compelling them to community service. This was a penalty for committing littering offences under the Solid Waste Management and Public Cleansing Act 2007. The litterbugs were caught in the act by undercover enforcement officers of the Solid Waste and Public Cleansing Management Corporation (SWCorp) over the past month. "We will continue to strengthen enforcement actions consistently and firmly to ensure public spaces remain free from litter," Khalid said. He added that community service is an alternative form of punishment aimed at rehabilitation and education, while encouraging offenders to take greater responsibility for maintaining public cleanliness.