BUSINESS
Local & World Business News
BUSINESS
US indexes close higher after Fed cuts interest rates
The Federal Reserve cut interest rates by a quarter percentage point and signaled that it will likely put further rate cuts on pause for now.
World Business
BUSINESS
Beijing protests ‘political’ UK sanctions on Chinese cyber firms
BUSINESS
Stocks in retreat as traders eye Fed decision, tech earnings
The UAE has been betting heavily on AI since 2017, when it named the world’s first AI minister and became the second country after Canada to unveil a national AI strategy.
The US online giant said the investment will drive business expansion and support AI digitisation, export growth and job creation.
The CSI AI Index declined 1.5%, the CSI Semiconductor Index lost 1.1% and the info tech sector was down 1.7%.
Chinese firms are expanding in Vietnam, leading investment inflows and sending record shipments to Hanoi in defiance of US calls for decoupling.
Local Business
BUSINESS
Bursa ends lower, ahead of Fed decision
BUSINESS
Bursa opens lower ahead of US Fed’s rate decision
The local note edges down to 4.1140/4.1250 as investors shift attention to incoming US economic data.
Bullish Aim Sdn Bhd, chaired and owned by Tunku Mahkota Johor, Tunku Ismail Sultan Ibrahim, has unveiled a ringgit-pegged stablecoin called RMJDT.
Markets are positioned for a cautious tone as the Federal Open Market Committee begins its two-day meeting today, says analyst.
The benchmark index is likely to remain range-bound, with its direction driven by the Federal Reserve’s tone, says analyst.