October 2023 - Page 4 of 16

South Korea’s Hyundai, Saudi Aramco clinch $2.4 bln gas plant deal

25Oct

By Webmaster IKON MalaysiaNo Comments

Business

South Korea’s Hyundai, Saudi Aramco clinch $2.4 bln gas plant deal

South Korea's Hyundai Engineering & Construction and Hyundai Engineering have signed a $2.4 billion contract with oil giant Saudi Aramco to build a gas processing plant, Seoul's presidential office said on Tuesday. The deal was signed on Monday in Riyadh at a ceremony to mark 50 years of construction cooperation between the two countries, with South Korean President Yoon Suk Yeol attending as part of his state visit to the kingdom. The two builders, affiliates of Hyundai Motor Group, have been working on the first phase of Aramco's Jafurah gas processing facilities project after winning the order in 2021, Hyundai said in a statement confirming the signing of the $2.4 billion contract for the second phase. Jafurah is Saudi's largest unconventional non-oil associated gas fi...

EPF’s Domestic Investments Surge to RM665 Billion, Anticipating Further Growth in 2023

25Oct

By Webmaster IKON MalaysiaNo Comments

Business

EPF’s Domestic Investments Surge to RM665 Billion, Anticipating Further Growth in 2023

The Employees Provident Fund (EPF) has reported substantial growth in its domestic investments, reaching RM665 billion as of June 2023, reflecting a 9% increase compared to the previous year. Deputy Finance Minister Datuk Seri Ahmad Maslan shared this information, projecting that the total domestic investment would reach RM700 billion by the end of 2023. Ahmad Maslan explained that the EPF's investment decisions are guided by the annual fund allocation determined by the EPF investment panel. In recent years, over 80% of the total fund allocation was typically earmarked for investments in the domestic market. "For the year 2023, the EPF has allocated RM97 billion, which represents 83% of its total investment funds, for domestic investments," stated Ahmad Maslan during a par...

Grayscale Secures Court Victory in Battle with US SEC Over Bitcoin ETF

25Oct

By Webmaster IKON MalaysiaNo Comments

Finance

Grayscale Secures Court Victory in Battle with US SEC Over Bitcoin ETF

In a significant development, a federal appeals court has solidified Grayscale Investments' position in its quest to establish an exchange-traded fund (ETF) based on Bitcoin, despite the objections of the US Securities and Exchange Commission (SEC). This decision effectively sends the matter back to the SEC, reaffirming the court's previous ruling from August. In that ruling, the SEC's rejection of Grayscale's proposal to convert its trust into an ETF was overturned, with Judge Neomi Rao describing the SEC's decision as "arbitrary and capricious." The regulator failed to provide a satisfactory explanation for why it had approved similar products. The SEC's main argument against a Bitcoin-based ETF was the perceived lack of sufficient oversight to detect potential fraud. Grayscal...

25Oct

By Webmaster IKON MalaysiaNo Comments

Finance

China stocks close at 4-1/2-year lows as global worries compound economic woes

China’s blue-chip share index closed at its lowest level in four-and-a-half years today, with investors dumping tech sector stocks and others as global market jitters compounded lingering worries over domestic economic health. The CSI300 Index .CSI300 fell 1 per cent to its lowest closing level since February 2019. The Shanghai Composite Index .SSEC, which broke the psychologically important 3,000-point level last week, slid 1.5 per cent to a near one-year low. The recent fall in global markets, a spike in jitters, and a shaky dollar “looks like global risks emerging”, Zhang Chi, strategist of Sinolink Securities, wrote in a note. Systemic global risks could kill the rebound of A-shares in the bud, so “we don’t see a market bottom this year”, Zhang added. Israel bombarded ...

Aaron-Wooi Yik win first world tour title with Denmark Open victory

25Oct

By Webmaster IKON MalaysiaNo Comments

Sports

Aaron-Wooi Yik win first world tour title with Denmark Open victory

National men’s doubles pair Aaron Chia-Soh Wooi Yik finally won their first World Tour title with a victory over Indonesians Muhammad Shohibul Fikri-Bagas Maulana in the final match of the 2023 Denmark Open in Odense. Playing in Jyske Bank Arena, the fifth-seeded 2022 world champions were in a class of their own as they strolled through the match, winning 21-13, 21-17 in 33 minutes. In contrast to their nervous opponents, Aaron-Wooi Yik played with maturity born of their hard-earned experience as Malaysia’s number one men’s doubles pair, controlling the court well in the first set and building a five-point lead at 11-6 before finishing off their rivals with a difference of eight points. The Indonesians tried to mount a comeback in the second set, but Aaron-Wooi Yik continued ...

Japan Initiates Anti-Trust Investigation into Google

24Oct

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Innovation/ Technology

Japan Initiates Anti-Trust Investigation into Google

Japan's Fair Trade Commission has announced an investigation into Google to determine whether the company breached regulations by seeking preferential treatment from smartphone manufacturers. This development adds to the ongoing legal challenges Google faces from competition authorities, including those in the United States. The probe centers on Google's alleged practice of requiring smartphone manufacturers to include its search apps on their devices and position them prominently. Google is also said to have entered into agreements with Android device manufacturers, wherein they agreed not to include competing search apps in their products in exchange for a share of the advertising revenue generated from Google searches. The commission plans to gather public input on this...

Harveen Kaur Becomes the First Malaysian Beauty Queen to Scale Mount Kilimanjaro

24Oct

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The IKON, Women’s Corner

Harveen Kaur Becomes the First Malaysian Beauty Queen to Scale Mount Kilimanjaro

Datin Harveen Kaur has etched her name in history as the first Malaysian beauty queen to summit Mount Kilimanjaro, the tallest peak in Africa. Harveen Kaur, 44, achieved the feat on Sept 24 this year, reaching the Uhuru peak which stands at 5,895 metres above sea level. “I aspire to contribute to the empowerment of women of all generations, encouraging them to have faith in their abilities. Together, we can muster the courage to recognise and unlock our boundless potential,” she told Bernama when asked to reflect on her achievement. The Malaysia Book of Records has duly recognised her extraordinary achievement and will honour her with a certificate for the national record of being the ‘First Beauty Queen to Summit Mount Kilimanjaro’. The certification presentation is sched...

Maryland Man Shows Progress After Historic Pig Heart Transplant

24Oct

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Science

Maryland Man Shows Progress After Historic Pig Heart Transplant

A month after receiving a groundbreaking pig heart transplant, Maryland resident Lawrence Faucette, who was ineligible for a traditional heart transplant due to heart failure, is making strides in his recovery. Doctors at the University of Maryland School of Medicine performed the experimental surgery, offering Faucette a chance at life. In a recently released hospital video, physical therapist Chris Wells can be seen encouraging Faucette in his recovery efforts. The footage shows the 58-year-old patient undergoing a pedaling exercise to regain strength, with Faucette displaying determination and resilience. Notably, this is the second attempt at a pig-to-human heart transplant, with the first ending in tragedy when the recipient, David Bennett, survived only two months. Some si...