Wall Street slides as earnings jitters set in
BENGALURU (July 11): US stock indexes slid on Monday, with the earnings season set to kick off in earnest this week amid concerns of weaker corporate profit due to the impact of surging inflation. The Nasdaq is set to break its five-day winning streak, weighed down by sharp declines in heavyweights Apple Inc, Microsoft Corp and Amazon.com Inc in early trading. Big banks such as JPMorgan Chase & Co, Citigroup Inc and Morgan Stanley are due to post earnings later this week, and their results will be parsed for any signs of slowing economic growth. Focus will also be on US consumer prices data later this week to gauge the state of inflation and how aggressively the Fed could respond. Declining issues outnumbered advancers for a 3.42-to-1 ratio on the NYSE and for a 3.46-to-1 ratio on the Nasdaq.
Source:The Edge Markets
July 11, 2022 20:25 UTC
Threat of slower growth looms over corporate earnings
“This leads us to take the view that in a market downturn phase, the best sectors to take shelter in are utilities (Gas Malaysia Bhd, Malakoff Corp Bhd and Tenaga Nasional Bhd), telecoms (Telekom Malaysia Bhd), healthcare (IHH Healthcare Bhd) and consumer (QL Resources Bhd, MR DIY Group Bhd and Genting Malaysia Bhd),” say the analysts in their June 17 report. Bank Negara Malaysia has embarked on interest rate hikes to ensure the stability of the country’s monetary system. The sector that will benefit the most from a higher interest rate environment is banking. They forecast that Alliance Bank Malaysia Bhd and Bank Islam Malaysia Bhd will be the biggest beneficiaries of a rising OPR, while Affin Bank Bhd and Public Bank Bhd will benefit the least among the banks under their coverage. “Typically, banks gain in the short term from a rising interest rate environment.
Source:The Edge Markets
July 11, 2022 18:00 UTC
Girl who resembles hubby is a secret love child with his ex
Much to her dismay, she soon found out that her husband did indeed have an affair, the Oriental Daily reported. The driver only realised the phone was left in his car when the passenger called his own number. He told the phone owner that it would take a while to return the phone to him as he would have to make a big detour on a highway. However, the phone owner threatened to call the police, accusing the driver of illegal possession of his phone. People on the Internet felt sorry for the driver and said that he shouldn’t have bothered returning the phone.
Source:The Star
July 11, 2022 14:50 UTC
Eateries in JB packed with visitors
JOHOR BARU: For visitors, a Sunday morning here means making a beeline for the typical Malaysian kopitiam fare. “I wanted my friend, who arrived from Shanghai not too long ago, to have a nice tour of Johor Baru. Checks at the Causeway on Saturday showed that traffic had been slow heading towards Johor Baru side. Malaysian Association of Hotels Johor chapter chairman Ivan Teo said most hotels were fully booked during this long weekend. “We have told industry players to be more alert to keep the Covid-19 situation in Johor in check.
Source:The Star
July 11, 2022 06:12 UTC
The mobile cheese maker churning out local creations in north Germany
Mobile cheesemaker Steffi Heidrich stops off at farms throughout north Germany's pastures to make milk into cheese with her converted truck. This morning, her vehicle, whose official name is Heidi's mobile cheese dairy, has halted at a farm in Rotenburg, in Lower Saxony. Heidrich, a trained dairywoman, makes two standard types of cheese with her mobile unit, both of which are semi-hard. "The mobile cheese dairy brings both with it." The cheeses are usually matured at a mobile dairy location and then returned to the dairy farm.
Source:The Star
July 11, 2022 04:05 UTC
Leading the way in redefining healthcare
As such, hospitals and healthcare providers carry the responsibility of introducing such innovations to better assist healthcare professionals and provide superior care to patients. KPJ Healthcare Bhd, a home-grown leading provider of private healthcare services with an integrated network of 28 specialist hospitals across the nation, has established KPJ Damansara Specialist Hospital 2 (DSH2), with a dream of providing revolutionary care through the utilisation of advanced healthcare technologies. “The future of healthcare will be decentralised and patient-centric with the smart hospital. Smart hospitals deliver high-value services within a broader system of entities, many of which have not traditionally been associated with healthcare delivery,” promises Shukrie. “The smart hospital will enable a patient-centred care team to be cooperatively involved in ongoing healthcare management towards a shared goal of high-quality medical care.”DSH2 is the first step of many for KPJ Healthcare in revolutionising healthcare in Malaysia.
Source:The Edge Markets
July 10, 2022 20:56 UTC
Azurin relying on team spirit for motivation to overcome fatigue
PETALING JAYA: Malaysian women’s football team goalkeeper Azurin Mazlan (pic) is not going to let fatigue spoil their show in the Philippines. Malaysia were thrashed 0-4 by the Philippines, who are bound for the 2023 World Cup, at the Rizal Memorial Stadium on Friday. But we are a team and are training well to prepare ourselves for the game against Thailand,” said Azurin. Thailand will enter the game as favourites, having played in the World Cup twice in 2015 and 2019. “We will play defensively in this game, with the hope of getting a point,” said Azurin.
Source:The Star
July 10, 2022 05:42 UTC
My Say: Merger control on the horizon
The Competition Commission (MyCC) released in May 2022 its proposed amendments to the Competition Act to introduce merger control in Malaysia. What should enterprises do if there is a possibility of a prohibited merger or anticipated merger? MyCC may then issue a decision to (i) block the anticipated merger; (ii) clear the anticipated merger unconditionally; or (iii) clear the anticipated merger with the condition that the enterprises comply with commitments they have offered. If MyCC has not arrived at any decision on the anticipated merger after 120 working days, the anticipated merger shall be deemed to be approved. Challenges in enforcing merger control in MalaysiaMerger control can be a delicate balancing exercise for small market economies like Malaysia.
Source:The Edge Markets
July 10, 2022 04:19 UTC
Body of former Japanese PM Abe arrives in Tokyo
ANKARA (July 9): The body of Shinzo Abe, the slain former Japanese prime minister, was returned to Tokyo on Saturday afternoon (July 9) accompanied by his wife, Anadolu Agency reported. Japanese media said a wake for Abe, 67, would be held next Monday, with a funeral for close relatives the next day. The Liberal Democratic Party (LDP) — the party that Abe once led — and other parties vowed not to let the assassination interfere with the democratic process. Abe, 67, the longest-serving premier in Japanese history, succumbed to his injuries after around five hours of treatment. Read also:Japanese mourn ex-PM Shinzo Abe a day after his assassinationJapan ex-PM Abe gunned down while making election campaign speech
Source:The Edge Markets
July 09, 2022 15:42 UTC
How about some travel therapy to improve your mental health?
Going on vacation can be a form of therapy for people with fragile mental health. This concept of “travel therapy” is supported by recent Australian research that draws parallels between travel experiences and some of the therapies recommended for people with mental health disorders like dementia. What if tourism had real benefits for our mental health? Indeed, the concept of travel therapy is gaining more and more ground among health specialists. “Medical experts can recommend dementia treatments such as music therapy, exercise, cognitive stimulation, reminiscence therapy, sensory stimulation and adaptations to a patient’s mealtimes and environment,” says lead researcher Dr Wen Jun in a statement.
Source:The Star
July 09, 2022 14:38 UTC
Caught in traffic jam daily increases risk getting chronic mental disorder
"This means having staggered working hours so that employees do not come to work and leave at the same time. The FWA application must be made in writing and can cover changes in working hours, working days and also the place of work. Rozmi said implementing the flexible working hours could help increase workers’ productivity and help reduce the risk of stress, while maintaining the quality of life and mental well-being. He said civil servants should also be considered to work flexible hours according to the suitability of the department. Rozmi said having flexible working hours also allowed better time management of workers as it enabled them to better arrange their time without neglecting their responsibilities at home, especially for the married ones.
Source:The Star
July 08, 2022 14:55 UTC
Influencers causing many to hoard meds, leading to shortage
PETALING JAYA: Information sharing on medicine by social media influencers is unwittingly leading Malaysians to hoard medications, and worsening the medicine shortage, pharmacists say. A pharmacist in Hulu Kelang who wishes to remain anonymous said viral videos on social media had caused an increase in demand for certain brands of paracetamol. “Before this, some brands were selling slow, but when influencers promoted certain brands on TikTok, it was sold out,” she said. “Some customers blindly follow and ask for a certain type of medicine that these influencers claim can treat Covid-19. She added that medicine for flu-like symptoms, especially of certain brands such as Difflam and Panadol, have been on low supply since January.
Source:The Star
July 08, 2022 05:47 UTC
Testing a new fuel subsidy system
KUALA LUMPUR: A targeted subsidy mechanism for fuel is currently being tested by the government before its implementation, says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Last month, Tengku Zafrul assured consumers that the withdrawal of subsidies for petrol would not happen anytime soon. Mean machine: Tengku Zafrul (left) looking at a drone after the launch of edotco’s sustainability blueprint and report. The amount of subsidies for this year is expected to reach RM77.7bil, with the fuel subsidy alone set to reach RM30bil. In June, the fuel subsidy already reached RM5bil a month, according to Tengku Zafrul.
Source:The Star
July 08, 2022 03:52 UTC
My Say: The unexpected similarities between Jurassic World and global inflation
A few weeks ago, I watched the latest instalment of the Jurassic World franchise, Jurassic World Dominion (JWD). At the end of the second chapter, Jurassic World: Fallen Kingdom, a character named Maisie Lockwood essentially presses a BIG RED BUTTON that releases a whole bunch of dinosaurs into the world. This unchecked global liquidity flooded global markets, giving us a greatly extended bull run but at some point, the chickens had to come home to roost. Of course, the rise of populist politics wasn’t solely due to global monetary policy, but global monetary policy since the global financial crisis played an important role. The animal spirits or, in Jurassic parlance, “dinosaur spirits” of the past decade will be dampened by global monetary tightening.
Source:The Edge Markets
July 08, 2022 03:37 UTC
Supervisor’s dream of owning MPV dashed, loses over RM200,000 in FB scam
SIBU: A supervisor of a company in Mukah thought he had struck a “lottery jackpot” when he saw his dream luxury MPV being sold at a ridiculous down-to-earth price. The 37-year-old man was going through his Facebook page on May 25 when he noticed a Toyota Vellfire being offered for sale at RM33,000. Mukah OCPD Deputy Supt Muhamad Rizal said the man contacted the seller through WhatsApp. “The man was asked to make various types of payments which include deposits, delivery charges, Customs tax, and road tax. The case is being investigated under Section 420 of the Penal Code.
Source:The Star
July 07, 2022 23:16 UTC