Tuesday, March 21

Innovation/ Technology

Ringgit opens higher on improving risk appetite
Business, Finance, Innovation/ Technology, News

Ringgit opens higher on improving risk appetite

The ringgit opened higher against the US dollar today, as the greenback resumed its retracement amid dovish Federal Reserve (Fed) officials in the United States (US) and rising risk appetite, according to an analyst. The local currency gained to 4.3750/3830 versus the US dollar at 9.06 a.m., up from 4.3835/3925 last Friday. According to Stephen Innes, managing director of SPI Asset Management, the ringgit opened firmer this morning despite a more robust US jobs report, implying that traders are ignoring one good data point and deferring to the weaker run of US economic data as a signal that the Fed will be forced to cut rates in 2023. "Crude oil prices are also doing well post-Organisation of the Petroleum Exporting Countries (OPEC) meeting, which helps the ringgit in terms of trade p...
Bursa Malaysia CEO takes over as chairperson of CEO Action Network
Business, Finance, Innovation/ Technology, News

Bursa Malaysia CEO takes over as chairperson of CEO Action Network

As chairperson of the steering committee, Bursa Malaysia Bhd CEO Datuk Muhamad Umar Swift now leads the CEO Action Network (CAN), Malaysia's first sustainability-focused informal coalition of leading CEOs and senior business decision-makers. Datuk Tengku Muhammad Taufik, a founding member of CAN and the president and group CEO of Petroliam Nasional Bhd (PETRONAS), passed over the leadership baton to Muhammad Umar recently at a CEO luncheon debate held at the Malaysia Petroleum Club. Tengku Muhammad Taufik, who served a two-year term, stated that CAN has emerged as a credible voice of Corporate Malaysia on sustainable business and sustainable development since its formation in late 2020. "As a coalition of leaders with a purpose, our efforts continue to be focused on building capacity ...
70,000 millionaires in UAE
Business, Finance, Innovation/ Technology, News

70,000 millionaires in UAE

According to Unique Properties, Dubai is seeing an increase in the number of luxury branded properties. With over 70,000 millionaires, the UAE is expected to see a 22% increase in high-net-worth families by 2027. Dubai's property market has capitalised on luxury and lifestyle living to become a lucrative destination for high-net-worth individuals. These features, according to Unique Properties, have contributed to Dubai's rise as the world's greatest site for branded properties. “The rise of Dubai’s branded residence segment started with Armani Residences in Burj Khalifa in 2010. Luxury brands and developers have gradually realised the concept’s mutual benefit – but there has been a significant uptick as of late,” said Arash Jalili, Founder and Chief Executive Officer of Unique Propert...
Businesses in England and Wales collapse at fastest pace since 2009 as energy costs bite
Business, Innovation/ Technology, News

Businesses in England and Wales collapse at fastest pace since 2009 as energy costs bite

Thousands of UK businesses are going out of business at the quickest rate since the height of the global financial crisis, as rising energy costs, dwindling demand, and rising borrowing charges drive them out. According to the Office for National Statistics, there were 5,629 insolvencies in England and Wales in the second quarter, the highest number since 2009. (ONS). The increase is the most since the third quarter of 2009. According to the ONS, insolvencies fell in 2020 as the government provided assistance to businesses throughout the epidemic. However, the frequency of failures has now increased as businesses face new obstacles even after lockdowns have ended. More here: UK building resumes growth, although optimism is at a 26-month low. Businesses indicated a dramatic increase ...
Google and Microsoft hit by slowing economy
Business, Innovation/ Technology, News

Google and Microsoft hit by slowing economy

Sales at Alphabet and Microsoft have fallen substantially, adding to concerns about an economic slowdown. Alphabet, which controls Google and YouTube, reported a 6% increase in sales to $69 billion in the three months to September as companies slashed their advertising budgets. Outside of the onset of the epidemic, it was the US firm's worst quarterly increase in nearly a decade. Meanwhile, Microsoft reported a drop in demand for its laptops and other equipment. Its revenues increased by 11% to $50.1 billion, the weakest rate in five years. Globally, consumers and businesses are cutting back as prices and interest rates increase, fueling fears of a worldwide recession.Alphabet's profits fell nearly 30% to $13.9 billion in the third quarter, as YouTube ad sales fell for the first time ...
Jennaira Holdings – The Vision of Dato Sri Azlina
Business, Innovation/ Technology, Leadership, Lifestyle, The IKON, Women’s Corner

Jennaira Holdings – The Vision of Dato Sri Azlina

Dato Seri Azlina Hanim the founder of Jennaira Holding, which has various business chains as well as other items such as drinks, food, yoghurt ice cream, health products, and several more enterprises. The brand features a hijab fashion line that was debuted earlier this year at an open house event in June. Many celebrities and prestigious people are expected to attend the event. We got a chance to celebrate the success of the fashion line during our IKON Brand Awards 2022, where Jennaira Holdings won the title of IKON Top Fashion Industry. The award acknowledges the innovative factors of the brand and the way the company has set its vision in a sustainable manner meeting consumer needs and community awareness initiatives. Aweera and Farawahida, two vocalists, enthralled the crowd at t...
Agnes Lee & Caryn Leo build the Most Trusted  Brand in Beauty & Health Industry 2022
Business, Innovation/ Technology, Leadership, Lifestyle, The IKON, Women’s Corner

Agnes Lee & Caryn Leo build the Most Trusted Brand in Beauty & Health Industry 2022

Two ladies are known as the anchor and driver of Mac Innovations Sdn. Bhd. The company specializes in infusing technology with beauty treatments and 21st-century regimes. IKON Malaysia has identified them as the Most Trusted Brand in Beauty & Health Industry this 2022, as the company and proven stable growth and popularity in the community. With the two key pillars Agnes Lee and Caryn Leo, their combined expertise has built the company with a proven reputation for excellence and results. The services under Mac Innovations include CAK peptide treatments which are comparatively efficient and safer compared to traditional beauty therapy and esthetical surgery. The treatment focuses on highly active peptides to activate the elastin and fibroblasts of the skin dermis to achieve that firm...
Astro and TM to Collaborate in Providing High Quality Digital Experience
Business, Innovation/ Technology, News

Astro and TM to Collaborate in Providing High Quality Digital Experience

MEASAT Broadcast Network Systems Sdn Bhd (Astro) collaborates with Telekom Malaysia (TM) in delivering the best internet experience for Malaysians. This signifies their commitment to support the Jalinan Digital Negara (JENDELA), in providing extensive and better broadband coverage. This partnership has been signed by Imri Mohktar (Group CEO of TM), Amar Huzaimi Md Deris (Executive Vice President of TM WHOLESALE), Henry Tan (Group CEO of Astro), and Shafiq Jabbar (Group CFO of Astro).Through this collaboration, TM via TM WHOLESALE will give Astro the infrastructure and connectivity solutions including high speed broadband (HSBB), bandwidth, backhaul and also internet access. This would give high quality besides reliable connectivity to the customers.TM will also deliver bro...