Business

Asian stock markets showed mixed performance ahead of crucial US jobs data. Investors are closely watching August employment figures that could influence the Federal Reserve's stance on interest rate hikes. Markets in Shanghai and Seoul gained, while Tokyo and Hong Kong experienced declines, as oil prices rose and economic uncertainty persisted.

Standard Chartered Malaysia introduces SmartStocks, a revolutionary online share trading platform allowing investors to access 12 exchanges across seven global markets from Malaysia. The service offers a single brokerage account with competitive rates, addressing challenges faced by retail investors in accessing international stock markets.

Malaysia attracted RM123.3 billion in investments from January to June 2022, with 1,714 projects generating 57,771 job opportunities. Foreign direct investments dominated at 70.9%, while the services sector played a crucial role in economic recovery.

Arizona Governor Doug Ducey met with Taiwanese President Tsai Ing-wen, celebrating a significant $12 billion semiconductor investment. The partnership underscores Taiwan's crucial role in global chip production and strengthens U.S.-Taiwan economic ties amid ongoing technological competition with China.

The International Monetary Fund has agreed to provide Sri Lanka with $2.9 billion over four years to help the country overcome its worst economic crisis. The package is contingent on creditor approvals and aims to restore financial stability and economic growth potential.

President Joe Biden traveled to Iowa to announce a modest strategy for reducing gasoline prices by temporarily waiving ethanol blending restrictions. The move comes as inflation reaches a 40-year high, with consumer prices jumping 8.5% in March compared to the previous year.

President Biden is set to speak with Indian Prime Minister Narendra Modi, seeking to persuade India to take a harder line against Russia's Ukraine invasion. India has maintained a neutral position, abstaining from UN votes and drawing praise from Russian Foreign Minister Sergey Lavrov for its balanced approach.

Standard & Poor's has downgraded Russia's credit rating to "selective default" after the country attempted to pay foreign bond payments in rubles instead of dollars. The credit rating agency believes Russia cannot convert rubles to dollars within the 30-day grace period, increasing the likelihood of a historic default due to international sanctions.

SpaceX launched three wealthy businessmen to the International Space Station on a private mission, paying $55 million per person for a week-long stay. The flight includes an American, Canadian, and Israeli entrepreneur, marking SpaceX's first private charter to the orbiting lab.

UN report reveals record-breaking food price index, with grains and vegetable oils experiencing significant increases. Russia's invasion of Ukraine disrupts global food supply, raising concerns about potential widespread malnourishment.