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THE world’s three best-selling makers of bitcoin mining machines – all of Chinese origin – are setting up manufacturing footholds in the United States as President Donald Trump’s tariff war reshapes the cryptocurrency supply chain. Bitmain, Canaan and MicroBT build over 90% of global mining rigs – essentially computers dedicated to number-crunching that produces bitcoin….
KUALA LUMPUR: Mah Sing group Bhd recorded a profit before tax (PBT) of RM91.4 million on the back of revenue of RM649.7 million for the first quarter ended March 31, 2025 (Q1’25), compared to RM82.1 million and RM558.2 million in the same quarter of the preceding year, representing 11.4% and 16.4% improvement respectively. The group…
KUALA LUMPUR: The government’s fiscal reform initiatives, including expanding the Sales and Services Tax (SST) scope and rationalising electricity and diesel subsidies, are aimed at ensuring fiscal sustainability while protecting lower-income groups and essential sectors. Treasury secretary-general Datuk Johan Mahmood Merican said one of the key fiscal reform elements is the Fiscal Responsibility Act, which…
KUALA LUMPUR: TA Global Bhd celebrated a significant milestone recently with the official groundbreaking of the superstructure construction for CloutHaus, marking the launch of one of the most anticipated luxury developments in the heart of Kuala Lumpur City Centre (KLCC). The event, held at the CloutHaus construction site on Jalan P. Ramlee, was officiated by…
TOKYO: Japan’s exports fell for the first time in eight months in May, data showed on Wednesday, indicating that sweeping U.S. tariffs were threatening the country’s fragile economic recovery. Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump have yet to reach a trade deal. Tokyo is scrambling to find ways to get Washington…
KUALA LUMPUR: The ringgit was slightly higher against the US dollar at today’s opening with investors remaining cautious ahead of the United States (US) monetary policy outcome due later tonight, an analyst said. At 8 am, the local note was at 4.2360/2565 against the greenback from yesterday’s close of 4.2390/2475. Bank Muamalat Malaysia Bhd chief…
KUALA LUMPUR: Bursa Malaysia opened marginally higher but turned lower thereafter, tracking the weaker overnight Wall Street performance. At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.28 points to 1,510.36 from Tuesday’s close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89. The broader market was negative with 138 decliners…
A new analysis projects the Social Security Administration’s (SSA) cost-of-living adjustment (COLA) for next year will be higher than previously projected. The Senior Citizens League (TSCL) released its estimate for the 2026 COLA based on May inflation data and projected that it will be 2.5%, up from the prior month’s estimate of 2.4% and the March…
The Trump administration is touting gains made by blue-collar workers in the first few months since the start of President Donald Trump’s term began in January. Administration officials noted that blue-collar wages – which are defined as nonsupervisory and production workers – have risen at an annual rate of 1.7% in the past five months….
Last Updated: June 17, 2025 at 4:04 p.m. ETFirst Published: June 17, 2025 at 12:48 p.m. ET Heightened uncertainty over tariffs, the direction of oil prices, and their impacts on inflation is giving way to a risk that Federal Reserve officials may not be able to cut interest rates in two quarter-point increments this year as they…
