KUALA LUMPUR: The ringgit ended lower against the US dollar as oil prices declined, and the pressure was exacerbated by growing anticipations of an aggressive interest rate hike decision by the United States Federal Reserve tomorrow, said an analyst. At 6 pm, the local currency fell to 4.5585/5595 against the greenback from 4.5495/5515 at Monday’s close. At the time of writing, the oil benchmark Brent crude price had dropped 0.16 per cent to US$91.85 per barrel. Meanwhile, the ringgit was traded lower against a basket of major currencies. It depreciated against the British pound to 5.2049/2060 from 5.1678/1700 at yesterday’s close and shrank versus the Singapore dollar to 3.2341/2353 from 3.2261/2278 previously.

CENTRAL banks are intent on driving the world economy perilously close to a recession. About 90 central banks have raised interest rates this year, and half of them have hiked by at least 75 basis points in one shot. The current quarter will see the biggest rate hikes by major central banks since 1980, according to JPMorgan Chase & Co, and it won’t stop there. “So they need to get rates up more now.”Until recently, it seemed like a no-brainer for the central banks to tighten policy. Central banks all over the world are pushing in the same direction, and that heightens the danger, says Maurice Obstfeld, a former chief economist at the International Monetary Fund.

KUALA LUMPUR (Sept 20): RHB Retail Research said PCCS Group Bhd is set to trend north as it rebounded strongly from the 21-day average line, surpassing the previous immediate resistance of 67 sen and forming a “higher high” bullish structure. In a trading stocks note on Tuesday (Sept 20), the research house said that the bullish bias above that level may propel it further towards the 71 sen point (Aug 24’s high), followed by the 80 sen threshold. “However, the counter may reverse direction if it falls below the 61 sen support — trading below the average line while forming a 'lower low' bearish structure,” it said.

KUALA LUMPUR (Sept 19): Yinson Holdings Bhd has marked its foray into the Indonesian energy market after acquiring a majority stake in turnkey solar company PT Ineco Solar Solutions (Inecosolar). In a statement on Monday (Sept 19), Yinson said the stake was acquired via its renewables division Yinson Renewables (YR). The company said Inecosolar is a well-established solar system provider in Indonesia with a track record in delivering residential and commercial rooftop solar systems. Yinson said the acquisition aims to enable Inecosolar to provide all-in-one zero-capital solutions, expand its project portfolio and establish itself as an independent power producer (IPP) in Indonesia and beyond. “With a nascent renewable energy market, Indonesia is poised to be a major hub of the energy transition,” said Brunt.

It was heart-warming and emotional for me to see the Mexican wave of Jalur Gemilangs, and the genuine smiles of Keluarga Malaysia. Between Merdeka and Malaysia Day, many of my friends and family members reflected on the nation’s successful transition from a country on the verge of a public health-economic crisis to one where normalcy has been almost fully restored. Every conscious moment of the day, I looked for ways to sustain the economy and, later, to revitalise it. These achievements demonstrate that with level-headed leadership premised on responsive measures, and responsible, transparent communications/reporting, we can do wonders to steer the economic ship safely back to calmer waters for Keluarga Malaysia. Finally, I feel that Keluarga Malaysia is more than just a slogan; it is an extension of our Founding Fathers’ vision of a peaceful and progressive nation.

Our former editor-in-chief (EIC) Azam Aris, who passed the baton to me about 10 months ago, was charged with criminal defamation under Section 500 of the Penal Code last Tuesday. Being the EIC, it is one of my responsibilities to ensure robust journalism continues to be practised here. DGB Asia Bhd, MNC Wireless Bhd, Trive Property Bhd and Metronic Global Bhd were among these companies. Indeed, there have been very few instances of anyone being charged with criminal defamation — a colonial relic. Still, will what has happened to Azam force us to stop our investigative reporting?

MELAKA: A 50-year-old man is expected to be charged at the Sessions Court here on Monday (Sept 19), after he was arrested for allegedly raping his daughter. His second wife made a police report after catching him allegedly having sex with his teenage daughter in a house at Batu Berendam here. The report also stated that the suspect had allegedly made threats to his nine-year-old youngest daughter who was at the house when the second wife confronted him. The suspect's eldest daughter claimed she was sexually abused by her father since she was 12 years old. He is expected to be charged under Section 376(3) of the Penal Code for rape.

Apple released its iPhone 14 line-up on Friday. Apple said earlier this month that the iPhone 14 models would contain new hardware that makes possible the emergency message service, which Apple planned to turn on with a software update coming in November. iFixit, a San Luis Obispo, California-based firm that disassembles iPhones and other consumer electronics to assess how easily they can be repaired, took apart an iPhone 14 Pro Max model on Friday, revealing a Qualcomm X65 modem chip. In a statement to Reuters on Saturday, Apple said there was additional proprietary hardware and software in the iPhone 14 for the new messaging feature. "iPhone 14 includes custom radio frequency components, and new software designed entirely by Apple, that together enable Emergency SOS via satellite on new iPhone 14 models," Apple said in a statement.

TOKYO (Sept 18): Chubu Electric Power Co said on Sunday it is joining private equity firm Japan Industrial Partners (JIP) in conducting due diligence for a potential buyout of Japanese conglomerate Toshiba Corp.Toshiba, which is exploring going private and other options, has selected Bain Capital, CVC Capital Partners, Brookfield Asset Management, and a consortium involving JIP and state-backed Japan Investment Corp to proceed to a second bidding round. JIP has contacted more than 10 companies including Chubu Electric, Orix Corp, and Central Japan Railway Co (JR Central) to participate in its consortium, the ^Nikkei newspaper reported on Sunday. Toshiba said it does not comment on candidates for the potential buyout. Orix and JR Central did not immediately respond to a request for comment.

A budding social media influencer with tens of thousands of followers, the 18-year-old is no stranger to dealing with online hate. “For example, some people think I like bragging about my Sijil Pelajaran Malaysia (SPM) results when that is not the case. “I have been labelled a show-off and a braggart – names I believe no one enjoys being called,” said the Kolej Mara Banting, Selangor, student who obtained 11A+ in the SPM 2021. “I had a hard time recovering from the remarks because I used to respond to every hate comment I received. “My social media platforms are also my main source of income so I am not going to lose that just because some random people on the Internet decided not to like me,” he asserted.

Today, ESG has more or less matured to become a formalised programme with published methodologies and requirements. The Harvard Business School (HBS) case study, titled “Sustainable Tea at Unilever”, in particular discusses Unilever’s transformation of its €3.5 billion tea brand, Lipton. Perfection vs pragmatismIn the above examples, each company began with a purpose to do good and saw its initiatives take fruition. In his book, Deep Purpose, he shares the example of Gotham Greens, a fresh food company that builds and operates sustainable greenhouses in cities across America. What is key is for organisations to be clear about their purpose and be pragmatic in creating win-win solutions.

Later in the month, Prime Minister Datuk Seri Ismail Sabri Yaakob introduced a quota of 600MW to cater to those seeking to generate and sell solar energy directly to corporations. The government is also mulling a "solar park" project — similar to the one in Australia — to centralise solar assets in an area with high solar irradiance. However, many details have yet to be ironed out in ensuring a smooth progression of Malaysia's solar industry. The Edge also spoke to Tenaga Nasional Bhd chief new energy officer Mohd Zarihi Mohd Hashim. Get the full story in Sept 19’s issue of The Edge Malaysia.

SINGAPORE: Aspen Vision Builders Sdn Bhd, the subsidiary of SGX-listed Aspen Group, has sold two units in Beacon Executive Suites in Penang, Malaysia, for RM1.3 million (S$410,110). The unit on the 21st floor was sold for RM628,200 after a 10% discount from its sale price of RM698,000. The other unit on the 10th floor was sold for RM693,000 after a 10% discount from its sale price of RM770,000. The units were sold to Vyramid, which is deemed as an interested...(click on link for full story on theedgesingapore.com)

World trade and production is increasingly being structured around “global value chains” (GVCs). With economic globalisation comes increased economic integration of the world through trade and capital flows. Thirdly, when large multinational corporations, by virtue of their economic power, can influence the economic and political decisions of nation states. The study of the international political economy shows that it has always needed a framework to define relations between nations, and between economic and political institutions. In the final analysis, while we actively participate in globalisation, we must at the same time ensure that our economic sovereignty is never compromised.

SAMARKAND, Uzbekistan (Sept 15): Russian President Vladimir Putin on Thursday said he understood that Xi Jinping had questions and concerns about the situation in Ukraine but praised China's leader for what he said was a "balanced" position on the conflict. "We highly value the balanced position of our Chinese friends when it comes to the Ukraine crisis," Putin told Xi. "We intend to firmly adhere to the principle of 'One China'," Putin said. "We condemn provocations by the United States and their satellites in the Taiwan Strait." At a meeting with Xi and Putin, Mongolian President Ukhnaagiin Khurelsukh said that he supported the construction of oil and gas pipelines from Russia to China via Mongolia.