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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Uber Teams Up with Waymo to Launch Driverless Rides in Austin and Atlanta

Uber Technologies Inc will be the exclusive provider of driverless rides on Alphabet Inc’s Waymo cars in Austin and Atlanta starting early next year, marking a significant step forward in the ride-hailing giant’s strategy to embrace autonomous vehicle technology.

Under the new partnership, Uber will handle the management and dispatch of a fleet of Waymo's all-electric Jaguar I-PACE vehicles, as well as provide services such as vehicle cleaning and repair. Meanwhile, Waymo will be responsible for testing and operating its Waymo Driver technology and will offer roadside assistance and other support to riders. The fleet is expected to expand to “hundreds over time,” according to a joint statement by the companies.

This collaboration strengthens the growing relationship between Uber and Waymo and is part of a broader strategy by Uber to position itself as a key platform for the commercialization of autonomous vehicles. This move represents a shift from Uber's previous efforts to develop its own self-driving technology, which proved to be ambitious but costly.

Uber and Waymo first signed a strategic partnership in May of last year, initiating public rides in Phoenix. Since then, Uber has pursued similar collaborations, including a partnership with General Motors Co’s Cruise LLC and an investment in SoftBank Group Corp-backed self-driving software firm Wayve Technologies Ltd. These partnerships are also expected to launch early next year.

With autonomous vehicles still in the early stages of widespread adoption, Uber's platform offers automakers a unique opportunity for high utilization of their costly fleets, according to Uber CEO Dara Khosrowshahi. Speaking at the Goldman Sachs Communacopia + Technology Conference in San Francisco, Khosrowshahi said, “During peak times, you can have a hybrid network that’s partially autonomous, partially manned. We bring it to scale, we bring it all over the world, and we think it’s a reason why many autonomous players are choosing to work with us, including the leading players.”

By becoming the go-to platform for driverless rides, Uber aims to enhance its global reach in the autonomous vehicle space, further strengthening its partnerships with leading players like Waymo.

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