Friday, January 24

Month: December 2023

Abercrombie’s 285% surge in 2023 beats even sizzling Nvidia
30Dec By Webmaster IKON MalaysiaNo Comments
Business

Abercrombie’s 285% surge in 2023 beats even sizzling Nvidia

One retail stock has been a clear winner this year as fashion trends revisited the late 90s and early 2000s. Abercrombie & Fitch Co. has gained 285% this year, its best annual performance since going public in 1996. The rally has made the company the best performer in the S&P 1500 Index, even managing to beat out artificial intelligence darling Nvidia Corp.’s 239% gain. The retailer has also handily outperformed its peers – the S&P Retail Select Industry Index rose 20% this year. The strong showing is a sharp pivot from 2022, when the retailer’s shares fell 34% as the broader stock market was dragged down by an uncertain economic backdrop and cautious consumers. Heading into this year, however, Abercrombie cleared extra inventory and focused on its target audience, y...
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Daren retires as Zii Jia’s assistant coach
30Dec By Webmaster IKON MalaysiaNo Comments
Sports

Daren retires as Zii Jia’s assistant coach

Former men’s singles shuttler Liew Daren will be parting ways with Lee Zii Jia, after almost two years serving as the world’s number eleventh player assistant coach. Team LZJ took to Instagram yesterday to confirm Daren’s decision. “After a heart-to-heart discussion, Team LZJ with the heaviest of feelings agree to accept Liew Daren’s resignation from the team. We respect his decision to do so due to personal reasons. “Daren was an integral part of the team since day one and has played an important role in the development of Team LZJ. His presence will be sorely missed by all within the team. As such the doors at Team LZJ will always remain open for Daren,” the team posted. Daren, who represented Malaysia as an independent men’s singles shuttler, had retired in April, then ...
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AirAsia CEO Riad Asmat announces resignation
30Dec By Webmaster IKON MalaysiaNo Comments
News

AirAsia CEO Riad Asmat announces resignation

AirAsia chief executive officer (CEO) Riad Asmat announced his resignation today. In his Instagram posting, Riad thanked AirAsia and the team “for their undying support given throughout the good as well as bad times,” and said it was “truly an honor to have been given the opportunity to work with each and everyone one of you throughout these years.” “As I take a bit of break and transition into possible advisory roles for this organisation, please take good care of yourselves and stay safe always. “I don’t really believe in goodbyes as it’s more of a ‘see you around’ thing for me. So ‘see you around’ guys,” Riad said in the posting, adding that he “loved every single bit of the journey with AirAsia with no regrets.” Riad was appointed as the CEO of AirAsia on Jan 10, 2018....
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Psy’s Gangnam Style tops 5 billion YouTube views
30Dec By Webmaster IKON MalaysiaNo Comments
Entertainment

Psy’s Gangnam Style tops 5 billion YouTube views

“Gangnam Style,” a 2012 global sensation by South Korean singer-rapper Psy, reached another milestone Saturday as the song’s popularity has continued for more than a decade. The music video for the song exceeded 5 billion views on YouTube, reported Yonhap news agency. Unveiled in July 2012, the main track from Psy’s sixth full-length album became a global sensation as its comical music video and the singer’s trademark horse dance went viral. The song made him the first K-pop act to rise to No. 2 on Billboard’s Hot 100 main singles chart. Psy spent a total of seven weeks in the position. Its music video became the first video to exceed YouTube’s view limit when it surpassed 2 billion views in May 2014, prompting the service to upgrade its counter. The video later surpassed ...
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HDC: Malaysia secures top spot in global Islamic economy indicator for 10th consecutive year
30Dec By Webmaster IKON MalaysiaNo Comments
News

HDC: Malaysia secures top spot in global Islamic economy indicator for 10th consecutive year

Malaysia has once again secured the top position in the Global Islamic Economy Indicator (GIEI) for the 10th consecutive year, according to the Halal Development Corporation Bhd (HDC). “The 2023 rankings place Malaysia at the forefront, followed closely by Saudi Arabia, Indonesia, and the UAE,” it said in a statement. Citing the 2023/2024 edition of the State of the Global Islamic Economy (SGIE) report, HDC said Malaysia secured first place in Islamic finance, halal food, and media and recreation, coupled with a commendable second-place ranking in “modest fashion,” third spot in pharmaceuticals and fifth in tourism. Since the inception of the SGIE Report, Malaysia has consistently claimed the first position, showcasing the nation’s enduring commitment to the Islamic economy, ...
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MACC: Investigation into Tun Daim case based on information from Pandora Papers
30Dec By Webmaster IKON MalaysiaNo Comments
News

MACC: Investigation into Tun Daim case based on information from Pandora Papers

The Malaysian Anti-Corruption Commission (MACC) today said that the investigation into a case involving former finance minister, Tun Daim Zainuddin, was based on information obtained from the Pandora Papers. It said that the investigation papers into the case were opened in February this year. The Pandora Papers is a leak of almost 12 million documents and files, exposing the world’s rich and influential people, who hide their wealth by using offshore services. It added that the investigation on Daim was carried out under Section 23 of the MACC Act 2009 and Section 4 (1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA). “However, based on the legal principle of ‘presumption of innocence’, a person being invest...
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Indonesia to impose new 10% tax on e-cigarettes from 2024
30Dec By Webmaster IKON MalaysiaNo Comments
News

Indonesia to impose new 10% tax on e-cigarettes from 2024

Indonesia will start imposing a tax on e-cigarettes from the start of 2024 on top of the existing excise levy as it steps up efforts to limit consumption. E-cigarettes will be taxed at 10% of the prevailing excise rate, according to a finance ministry regulation. In Indonesia, tobacco products are subject to two levies — at central and local government levels — of which 50% of the revenue is earmarked for public health services. The policy to make e-cigarettes less affordable in Southeast Asia’s biggest economy is in line with the World Health Organization’s recent warning of the dangers of vaping. The Indonesian government has told consumers that vapes and their substances are just as bad as conventional cigarettes. The use of vape in the country surged ten-fold in the decad...
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McDonald’s Malaysia sues over Israel boycott calls
30Dec By Webmaster IKON MalaysiaNo Comments
News

McDonald’s Malaysia sues over Israel boycott calls

McDonald’s Malaysia has sued a pro-Palestinian group for $1.3 million over its calls to boycott companies allegedly supporting Israel. In a statement issued Friday, the fast-food chain said the civil suit against BDS Malaysia was aimed at protecting “our rights and interests in accordance with the law”. McDonald’s said it “does not support nor condone the current conflict in the Middle East”. “While we understand and respect that the act of boycotting is an individual decision, we believe that it should be based on facts and not false allegations,” McDonald’s said. McDonald’s has sought six million ringgit in damages for alleged defamation, according to a copy of the legal document seen by AFP. In a post on the social media platform X on Friday, BDS Malaysia said “we ca...
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