Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Post a Comment

German Car Industry Transformation Could Lead to 186,000 Job Losses by 2035, Study Finds

The ongoing transformation of Germany's car industry toward electric vehicles (EVs) could result in the loss of 186,000 jobs by 2035, according to a study commissioned by the VDA auto industry association. The report revealed that 46,000 jobs have already been lost between 2019 and 2023, primarily due to the shift to EVs.

The study, conducted by research institute Prognos, points to several factors contributing to the loss of competitiveness in Germany's car industry, including the high cost of electricity, tax rates, and increasing regulatory red tape.

The job losses are further exacerbated by recent developments at Volkswagen, which is threatening to shut down at least three factories, lay off tens of thousands of employees, and reduce operations at its remaining plants, as noted by the company's works council.

The VDA emphasized the need for competitive political and economic conditions in Germany to retain as much added value and employment as possible within the country, while also creating opportunities for new jobs in the evolving industry.

Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

3M Raises Profit Forecast After Beating Quarterly Estimates on Electronics Demand

3M Co raised the lower end of its full-year adjusted profit forecast after strong demand for electronics and industrial products helped the company surpass quarterly profit expectations. Shares of 3M were up 4.2% at $140.5 in pre-market trading. An increase in demand for electronics used in vehicles and mobile phones boosted profits for the company, which had previously faced challenges as high inflation led consumers to delay major purchases. The industrial sector is also expected to benefit from the recent US Federal Reserve decision to cut borrowing costs in September, encouraging more consumer spending. 3M has implemented cost-cutting measures, including job reductions and spinning off its healthcare business, to counter the impact of a demand slowdown . Key highlights from the report: Sales in the transportation and electronics segment grew 1.8% year-on-year. Sales in the safety and industrial segment , which produces adhesives for industrial use, increased by 0.5% . 3M&
Post a Comment
Read more

Key Corporate Updates from Malaysia

Ekovest Bhd : Major shareholder Tan Sri Lim Kang Hoo is considering selling his toll-road business, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi), for up to RM5 billion. Ekovest owns 60% of Kesturi, with the remainder held by the Employees Provident Fund (EPF). Eco World Development Group Bhd : Through its subsidiary Mutiara Balau Sdn Bhd, EcoWorld is acquiring 847.25 acres in Semenyih, Selangor for RM742.41 million to develop Eco Forest 2, a project with an estimated RM4.6 billion in gross development value. Mah Sing Group Bhd : Mah Sing has purchased 5.24 acres on Old Klang Road for RM113 million to build M Aurora, a transit-oriented development with an estimated RM660 million gross development value, anticipated for launch in early 2025. Pentamaster Corp Bhd : The company’s third-quarter net profit dropped 49.9% to RM11.77 million, impacted by lower sales in its automated test equipment division and foreign exchange losses. Sentral REIT : The REIT saw a 25
Post a Comment
Read more