KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Major US travel companies, including Marriott International , Booking Holdings , and Vail Resorts , are preparing for a challenging 2025 by trimming budgets and workforce in response to reduced demand from lower-income travelers and slowing top-line growth . Marriott plans to cut US$80-90 million in annual costs and lay off 800 corporate employees in Q1 2025 . The move aims to create a "leaner and more efficient" operation, following weak earnings this year. Booking.com has slowed hiring, increasing its workforce by just 3% in 2024, compared to 13% the previous year, and may cut jobs further. Vail Resorts aims for US$100 million in annual savings by 2026 , including a 14% reduction in corporate staff. Norwegian Cruise Line Holdings is targeting US$300 million in cost savings by 2026 through automation an...