Japan's Tepco to partially restart world's biggest nuclear power plant Jan 20
TOKYO (Dec 24): Tokyo Electric Power Co plans to restart the first unit of its Kashiwazaki-Kariwa nuclear power plant, the world's biggest, on Jan 20, Tepco president Tomoaki Kobayakawa told reporters on Wednesday. This week, the prefecture assembly in Niigata, the region where the plant is located, gave a green light for the partial restart of the Kashiwazaki-Kariwa plant. It will be the first for Tepco since its Fukushima Daiichi nuclear reactor's meltdown in 2011. Kashiwazaki-Kariwa, located about 220km (136 miles) northwest of Tokyo, was among 54 reactors shut after the 2011 earthquake and tsunami crippled the Fukushima Daiichi plant in the world's worst nuclear disaster since Chernobyl. The pending restart would bring one 1.36GW unit online in January and restart another one with the same capacity around 2030.
Source:The Edge Markets
December 24, 2025 09:12 UTC
FBM KLCI dips in early trade despite Wall Street record close
KUALA LUMPUR: The local bourse opened slightly lower on Wednesday, despite overnight gains on Wall Street, as investors turned cautious amid overbought technical conditions ahead of the Christmas break. Overnight, Wall Street finished higher, with the S&P 500 closing at a record high after US gross domestic product grew at a stronger-than-expected 4.3%, lifting bond yields and supporting growth stocks. The Dow Jones Industrial Average rose 0.16% to 48,442.41, the S&P 500 gained 0.46% to 6,909.79 and the Nasdaq Composite gained 0.57% to 23,561.84. The FBM KLCI slipped 1.19 points, or 0.07%, to 1,675.45 at 9.11 am, after opening 0.64 of a point lower at 1,676.00. “The ringgit has strengthened to 4.06 against the US dollar, hence expect the index to hover within the 1,670-1,685 today,” it said.
Source:The Star
December 24, 2025 09:05 UTC
North Korea's Kim Jong Un tours hotels with daughter, lauds economic progress
SEOUL (Dec 23): North Korean leader Kim Jong Un attended the opening ceremonies of hotels in a tourist zone of the country with his daughter Ju Ae, as he sought to highlight the country's economic progress before a key party congress due to take place early next year. Five hotels opened on Saturday and Sunday in North Korea's Samjiyon tourist zone, in the northeast part of the Korean peninsula near the border with China, state media KCNA said on Tuesday. Kim, who attended the ceremonies on Saturday, toured the upmarket hotels with Ju Ae, state media photographs showed. The North Korean leader has attended multiple opening ceremonies of facilities in the past month, including three regional factory openings last week alone. State media such as Rodong Sinmun, have been urging an all-out public effort to complete major projects ahead of the gathering.
Source:The Edge Markets
December 24, 2025 08:57 UTC
Thailand's Anutin picked as PM candidate in 'consequential' February polls
Less than 100 days after he was elected premier, Anutin dissolved parliament earlier this month when his minority government faced the threat of a no-confidence vote. "Today we are sure and ready to enter the election race to serve Thailand and its people," Anutin said. "This is the first time the Thai people has high expectations from the Bhumjaithai Party." Anutin stands to gain from growing nationalist sentiment generated by the conflict with Cambodia, which reignited on his watch. Yodchanan Wongsawat, a leading prime ministerial candidate with the Pheu Thai Party, told Reuters in an interview that he is open to join a coalition government.
Source:The Edge Markets
December 24, 2025 08:47 UTC
Sanofi buys Dynavax for US$2.2 bil to boost vaccine lineup
Sanofi will pay US$15.50 a share in cash for Dynavax, 39% above the Emeryville, California-based closing price on Tuesday. The Dynavax deal gives Sanofi a hepatitis B vaccine that’s already marketed in the US, as well as an experimental shingles inoculation currently in early human testing. Still, Sanofi has inked the deal despite difficulties in the global vaccination market. One type, called secondary progressive MS, which involves which involves a steady increase in disability, is what Sanofi’s FDA application targets. There are currently few treatments for this type of MS. Sanofi said it is committed to working with the FDA to find a path forward for the drug.
Source:The Edge Markets
December 24, 2025 08:26 UTC
OCBC, Bank of Ningbo partners Johor state govt, investment authorities to promote JS-SEZ in Beijing
KUALA LUMPUR (Dec 24): OCBC and Bank of Ningbo have partnered with the State Government of Johor, Malaysian Investment Development Authority (Mida), Invest Johor and Iskandar Regional Development Authority (IRDA) to promote the Johor-Singapore Special Economic Zone (JS-SEZ) in Beijing. OCBC and Bank of Ningbo, an associate company of OCBC Group co-hosted the JS-SEZ investment dialogue on Dec 23, 2025, which saw participation from 100 corporate and enterprise representatives in China from industries ranging from power, utilities, oil & gas and telecommunications. Deputy State Secretary of Johor (Development) Ahmad Nazir Mohd Nasir, chairman of the Johor State Investment, Trade, Consumer Affairs and Human Resources Committee Lee Ting Han, Irda CEO Datuk Noorazam Osman, Invest Johor CEO Natazha Hariss and Mida Johor director Mohamad Reduan Mohd Zabri were part of the delegation. Listed on the Shenzhen stock exchange, Bank Ningbo is one of the 20 systematically important banks in China, with presence in key cities including Beijing, Shanghai and Shenzhen. OCBC Malaysia comprises OCBC Bank (Malaysia) Bhd and OCBC Al-Amin Bank Bhd.
Source:The Edge Markets
December 24, 2025 07:16 UTC
Growth plans remain intact for Mega Fortris despite legal woes, shareholding reshuffle
As a group, Mega Fortris believes the claim lacks merit and it is being addressed through the proper legal channels by the relevant parties. Mega Fortris will continue to make any required disclosures in line with listing requirements while management remains focused on execution,” he says. However, the siblings are not the only shareholders in Mega Fortris Global, the holding company of the listed firm. On Oct 30, OCBC and its affiliate sold off their entire stake in Mega Fortris Global to ProWealth Management Holding Ltd, and as a result, ceased to be a substantial shareholder of Mega Fortris. Following the disposal, the little-known investment holding company incorporated in the British Virgin Islands surfaced as the new substantial shareholder of Mega Fortris.
Source:The Edge Markets
December 24, 2025 07:01 UTC
India bonds rally on RBI’s ‘shock-and-awe’ cash-injection plan
(Dec 24): Indian bonds rallied the most in four months on Wednesday (Dec 24) after the central bank announced fresh measures to boost banking-system liquidity, including government bond purchases and a foreign-exchange swap. The Reserve Bank of India said Tuesday evening that it will buy two trillion rupees (RM90.71 billion) of bonds in four tranches over December and January, and hold a US$10 billion (RM40.64 billion) foreign-exchange swap next month. Lenders’ overnight borrowing costs rose sharply this week as liquidity tightened following tax outflows and the RBI’s dollar sales to shore up the rupee. Banking-system liquidity slipped into a deficit of 727 billion rupees on Dec 22, from a surplus of 2.6 trillion rupees earlier this month, according to data compiled by Bloomberg Economics. Wednesday’s rally follows a period of strain for the bond market, driven by concerns over a potentially sharp rise in state debt supply.
Source:The Edge Markets
December 24, 2025 04:21 UTC
Copper set for best year since 2009 after December surge
(Dec 24): Copper extended a powerful December rally that’s carried prices for the industrial metal to unprecedented highs above US$12,000 (RM48,696) a ton on fears over a tighter global market in 2026. Prices on the London Metal Exchange (LME) are now on track for an annual gain of 38%, the biggest since 2009. All six base metals on the LME are headed for annual gains in a year that’s seen an array of supply-side pressures. Aluminium is up nearly 16% in 2025 as slowing production growth in China and soaring energy costs in the rest of the world crimp supplies. Zinc has gained 5% after key mine outages, while tin is up 48% after major producer Indonesia cracked down on illegal mining.
Source:The Edge Markets
December 24, 2025 04:11 UTC
Bank of America trader warns India state debt deluge will worsen
India’s 10-year bond yield rose to a nine-month high of 6.68% on Monday (Dec 22) as states announced a larger-than-scheduled bond auction for the week. Despite 125 basis points of rate cuts by the Reserve Bank of India this year, India’s benchmark 10-year bond yield has eased just 13 basis points, while that on the top-rated company bonds has climbed over 11 basis points. The yield on state bonds has risen sharply in recent months, widening their spread over the federal debt to around 40 basis points, according to data compiled by Bloomberg. The yield on state bonds has risen sharply in recent months, widening their spread over the federal debt. For a comparable borrowing, state bonds find far fewer takers as global investors and foreign banks avoid exposure to illiquid debt, while domestic players too have limits for investing in such bonds, Jain said.
Source:The Edge Markets
December 24, 2025 04:06 UTC
Japan and US agree to expedite US$550b investment projects
“Ministers are aligned on expediting preparations so that the first project under the Strategic Investment Initiative could be announced as early as possible,” according to a statement released by the Japanese Foreign Ministry on Wednesday. The first meeting for the initiative was held last week, marking the start of a formal selection process for the investment mechanism. Once negotiations on the consultation panel is finalised, it will give its input to an investment committee led by Lutnick. Japan could face the return of higher tariffs if it doesn’t fund a project within 45 days of Trump’s decisions. Earlier this year, Trump threatened to raise tariffs on Japanese goods to 25%, then scaled that back to 15% for most goods after Japan agreed to boost investment in the US through the US$550 billion mechanism.
Source:The Edge Markets
December 24, 2025 03:55 UTC
Won jumps after Korea vows ‘strong determination’ over currency
(Dec 24): South Korea’s won strengthened after the authorities said excessive weakness in the currency isn’t desirable and foreign-exchange markets will soon see the government’s “strong determination”. The NPS has already been said to have sold dollars to bolster the won while brokerages have decided to halt new marketing of overseas equities. The won has still weakened almost 8% since the end of June, the worst-performing Asian currency over the period. Korea isn’t alone in seeking to bolster its currency this week. Katayama’s comments came amid renewed speculation that her ministry might intervene directly in the currency market.
Source:The Edge Markets
December 24, 2025 03:31 UTC
Trump’s US$100,000 H-1B visa application fee upheld by judge
(Dec 24): A federal judge said the Trump administration can move ahead with a US$100,000 (RM406,400) fee on new H-1B visa applications, providing a setback for US technology companies that rely on hiring skilled foreign workers. Daryl Joseffer, the chamber’s executive vice president, said in a statement the US$100,000 fee makes H-1B visas cost prohibitive. The H-1B visa programme is a cornerstone of employment-based immigration, allowing companies in the US to hire college-educated foreign workers for specialised occupations. In September, Trump signed a proclamation to increase the application fee to discourage companies from abusing a programme that he claimed displaces US workers. Their lawsuit focuses on the projected impact on the public sector, particularly in the fields of health care and education, that also rely on the H-1B visa programme.
Source:The Edge Markets
December 24, 2025 02:04 UTC
Waymo to update software across fleet after major power failure
(Dec 24): Alphabet Inc’s Waymo said it would strengthen its automated software to better handle power outages after its self-driving taxis froze and caused traffic jams during a major electricity failure last weekend in San Francisco. While the vehicles “successfully” handled 7,000 traffic signals that were knocked out by San Francisco’s power failure on Dec 20, the outage “created a concentrated spike in these requests,” the company said. When city officials urged motorists to stay off the streets, Waymo said it suspended service. The power failures, touched off by a fire at a PG&E Corp substation, rolled through San Francisco during the weekend, at one point affecting about 130,000 customers. Social media videos showed multiple Waymo vehicles stopped in the middle of streets with their hazard lights flashing, creating massive backups.
Source:The Edge Markets
December 24, 2025 01:50 UTC
US sanctions former EU official, others in swipe at Europe
(Dec 24): The Trump administration on Tuesday (Dec 23) imposed visa sanctions on former European Union Commissioner Thierry Breton and four other people for trying to make US tech companies police political speech on their platforms. That includes Imran Ahmed of the Center for Countering Digital Hate and the UK-based Global Disinformation Index’s Clare Melford, as well as Anna-Lena von Hodenberg and Josephine Ballon of Germany’s HateAid, which flags far-right hate speech online. Breton, in a post on X, said the European law was voted in with broad-based support. An EU official denied that move was about censorship, saying it was focused on transparency. The ideological document attacked European leaders over censorship and suppressing political opposition and was widely interpreted by Europe’s established political parties as the Trump administration offering support to Europe’s far-right, anti-immigrant political parties.
Source:The Edge Markets
December 24, 2025 01:40 UTC