Money & Finance

MIDF research indicates the automotive sector is poised for recovery with government's economic relaxation. Plant reopening and distribution resumption from 16 August will help the industry regain lost production and restart operations across the value chain.

The National Highway Traffic Safety Administration is investigating 765,000 Tesla vehicles with Autopilot after identifying 11 incidents involving crashes near first responder scenes. This follows a previous unresolved investigation from 2017 and raises new safety concerns about Tesla's autonomous driving technology.

Indonesia emerged from recession with impressive 7.07% GDP growth in the second quarter, marking its strongest economic performance in 17 years. The growth exceeded analyst predictions, driven by steady export increases. However, the rising Covid-19 infection rates threaten to complicate the country's economic recovery.

Facebook declares Taliban a terrorist organization, banning their content and accounts. Despite restrictions, Taliban members reportedly use WhatsApp for communication, prompting platform vigilance and potential account removals.

Japan has approved a $338 million semiconductor research project with TSMC to develop advanced chip technology. The collaboration aims to enhance Japan's competitiveness in the semiconductor sector, addressing global chip shortages and supporting key industries like automotive manufacturing.

Chinese bubble tea chain Nayuki Ltd. is set to raise US$656 million through its Hong Kong initial public offering. Founded in Shenzhen in 2014 by Peng Xin and Zhao Lin, the company plans to sell 257.3 million shares at HK$17.2 to HK$19.8, potentially valuing the founders' stake at over US$1.1 billion.

Telecommunications giants Axiata Group and Telenor Asia have completed a strategic merger of their Malaysian wireless operations, creating a commercially stronger digital service provider. The new entity, MergeCo, will be jointly owned by Axiata and Telenor, each holding a 33.1% stake, with projected pre-tax profits of 5.7 billion ringgit and significant potential for synergies and growth.

UEM Sunrise Bhd has partnered with Maybank Islamic's HouzKEY to help first and second-time homeowners acquire their dream homes. The collaboration offers zero down payments, zero payments during construction, and 100% financing for 10 projects, making homeownership more accessible.

Malaysian engineering firm KAB partners with Janakuasa to enter Vietnam's renewable energy market, targeting three hydropower stations with 180 MW total capacity. The projects have power purchase agreements valid from 2030 to 2039, with commercial operations already established between 2015 and 2019.

A Federal Reserve study shows Trump-era tariffs caused billions in losses, with unusual trade reporting patterns emerging between the US and China, potentially due to strategic valuation manipulations by exporters and importers.