Tag: Businesses

Malaysia's total trade reached RM236.0 billion in December 2022, marking an 8.6% year-on-year increase. Exports rose 6.0% to RM131.9 billion, while imports grew 12.0% to RM104.1 billion. The country's total trade for 2022 hit a new milestone of RM2.8 trillion.

Indonesia's 2023 ASEAN presidency aims to accelerate economic recovery by enhancing regional connectivity, improving competitiveness, and strengthening financial and food security sectors. Coordinating Economic Minister Airlangga Hartarto emphasizes bridging digital gaps and supporting post-pandemic growth strategies.

Hong Kong-based airline Cathay Pacific reported a significant financial loss of US$893.77 million for 2022, exceeding analyst predictions. The carrier's performance was impacted by prolonged travel restrictions, though the company remains optimistic about recovery following the relaxation of quarantine regulations in Hong Kong and mainland China.

The European Union is considering substantial subsidies to compete with US green technology investments, but smaller member states like Sweden warn that larger countries like Germany and France might disproportionately benefit, potentially threatening the EU's single market principles.

The UN Food and Agriculture Organization reported global food prices reached unprecedented levels in 2022, averaging 14% higher than 2021. Factors like the Russian invasion of Ukraine, widespread drought, and economic challenges contributed to significant price increases across grains and vegetable oils.

The Malaysian consumer sector is expected to remain robust, driven by strong domestic demand and improved supply chain operations. Despite potential headwinds like inflation and declining consumer sentiment, businesses adapting to customer needs may successfully navigate the market landscape.

The European Union announces a €10 billion investment package for ASEAN countries, focusing on green transition, sustainable connectivity, and development across energy, transportation, digitalization, and education sectors. This initiative marks 45 years of cooperation between the two regions.

The European Union has agreed on a new round of sanctions targeting Russia over its ongoing war in Ukraine, with plans to finalize the package through diplomatic channels and increase economic pressure.

IBM collaborates with Rapidus, a new Japanese government-backed chipmaker, to develop cutting-edge semiconductor technology. This partnership aims to help Japan regain its competitive edge in chip production amid global technological tensions and supply chain challenges.

Bursa Malaysia announces 21 new additions to the FTSE4Good Bursa Malaysia (F4GBM) Index, increasing total constituents to 98. The index, launched in 2014, tracks companies with strong environmental, social, and governance (ESG) principles, reflecting a growing focus on sustainable investing in Malaysia.