Latest news with #RM4.22
The Sun
2 days ago
- Business
- The Sun
Nvidia insiders sell $1 billion in stock amid AI-driven market surge
CALIFORNIA: Nvidia insiders sold more than $1 billion (RM4.22 billlion) worth of company stock in the past year, with a significant portion occurring this month as the chipmaker's shares soared to record highs, the Financial Times reported. Over $500 million of these sales took place in June alone, coinciding with Nvidia's stock surge driven by investor enthusiasm for artificial intelligence. Chief Executive Jensen Huang began selling shares this week for the first time since September, according to SEC filings. Nvidia's stock reached an all-time high on Wednesday, briefly making it the world's most valuable company. Analysts attribute the rally to the AI boom, with one describing Nvidia as riding a 'Golden Wave' of artificial intelligence. The company's rebound follows a 60% recovery from its April low, when markets reacted to global tariff announcements. U.S. stocks, including Nvidia, have since regained momentum amid expectations of trade deal resolutions. Nvidia did not respond to Reuters ' request for comment.
Barnama
5 days ago
- Business
- Barnama
Newpark Strengthens Leadership Team, Invests In Global Expansion Post-acquisition
BUSINESS KUALA LUMPUR, June 26 (Bernama) -- Newpark Fluids Systems (Newpark), a global independent provider of drilling and completion fluids solutions, has announced key additions to its executive leadership and Board of Directors, alongside significant capital investments aimed at accelerating global growth and operational excellence. Newpark Chief Executive Officer (CEO), David Paterson said these individuals bring exceptional experience and strategic insight that align with the company's mission to deliver value and innovation to its customers globally. 'Their leadership will play a key role in shaping our next chapter of growth,' he said in a statement. The strategic appointments come on the heels of Newpark's 2024 acquisition by SCF Partners (SCF) and include the hiring of Nathan Snoke as Senior Vice President (SVP) for the Western Hemisphere. Snoke brings nearly 20 years of experience in North American oilfield operations, having held operational and commercial leadership positions at Halliburton and Flotek across major United States (US) shale basins, including the Permian, Marcellus, and Haynesville. In parallel with its executive appointments, Newpark has also strengthened its Board by bringing on three experienced senior industry leaders. Among them is the former CEO of Anchor Drilling Fluids, Robert West, who successfully led the company's growth from US$25 million to nearly US$500 million in revenue. (US$1=RM4.22) Joining him is W. Quentin Dyson, previously Southwestern Energy SVP of Operations, who brings more than 30 years of leadership in engineering and field operations, with prior roles at EP Energy, BP, and Schlumberger. Rounding out the additions is Noble Corporation Executive VP and Chief Financial Officer, Richard Barker, whose deep expertise in finance and corporate strategy stems from a 15-year investment banking career at Moelis & Company and JPMorgan. As part of its broader strategic initiatives, Newpark also announced two major infrastructure investments, namely the development of a liquid mud facility in West Texas and the establishment of a technology centre of excellence in Saudi Arabia. Both projects are aimed at enhancing regional capabilities and supporting long-term partnerships in key energy markets.
Barnama
27-05-2025
- Business
- Barnama
ASEAN, GCC And China - A New Power Bloc Of The Global South
From Kisho Kumari Sucedaram BEIJING, May 27 (Bernama) -- As the global economic uncertainty rages on following the United States' (US) sweeping tariffs, China sees the inaugural ASEAN-Gulf Cooperation Council (GCC)-China Summit in Kuala Lumpur today not merely as a diplomatic gathering but a pivotal moment in the rise of the Global South. For China, this tripartite meeting is far more than a symbolic gesture. It represents the emergence of a new economic and strategic axis, one that challenges traditional Western-dominated trade frameworks and offers an alternative vision of cooperative development. This was made evident when China's Foreign Ministry Spokesperson, Mao Ning, remarked last week that China looks to expand practical cooperation with ASEAN and the oil-rich GCC member states in various fields to leverage their respective strengths, pursue win-win results and defend common interests of the Global South. It would be a coming together of ASEAN's quest to foster integration within Southeast Asia, GCC's aim to reduce dependence on oil and diversify the economy, and China's Belt and Road Initiative focusing on global infrastructure development strategies. Malaysia, as ASEAN Chair this year, is hosting the maiden ASEAN-GCC-China Summit which is set to unlock immense potential for multilateral cooperation. The combined weight of ASEAN, GCC and China is certainly reshaping the global economic dynamics. ASEAN, now the world's fifth-largest economy with a collective gross domestic product (GDP) of over US$3.6 trillion (US$1=RM4.22), is not just a manufacturing hub but also a burgeoning consumer market of 700 million people. On Sunday, Malaysia's Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz told a press conference that the collective ASEAN GDP is projected to grow at 4.7 per cent in 2025 from 4.2 per cent last year.
The Sun
26-05-2025
- Business
- The Sun
Malaysia, Indonesia to lead establishment of ASEAN Halal Council
KUALA LUMPUR: Malaysia and Indonesia are set to lead the establishment of the ASEAN Halal Council to position the bloc as a global model for the halal industry, built on high standards and integrity, and to emerge as a competitive, inclusive and sustainable global halal hub, said Datuk Seri Dr Ahmad Zahid Hamidi. The Deputy Prime Minister said that with the global halal market projected to reach USD5 trillion (USD1 = RM4.22) by 2030, ASEAN must emerge as a leader in developing a complementary and competitive regional halal ecosystem. Ahmad Zahid, who also chairs the Halal Industry Development Council of Malaysia, said both countries had agreed to jointly spearhead the formation of the ASEAN Halal Council this year. 'This will serve as a strategic platform to systematically align halal policies, standards and regulations among ASEAN countries. We are strongly committed to elevating halal cooperation to a higher level, focusing on strengthening the position of both countries' halal products in regional and global markets. 'This collaboration will also be a testament to the success of Malaysia's 'Halal Diplomacy' in strengthening the national halal brand globally,' he said in a statement following a strategic meeting with Indonesia's head of the Halal Product Assurance Organising Agency (BPJPH), Haikal Hassan Baras, on the sidelines of the 46th ASEAN Summit here today. Ahmad Zahid said Malaysia and Indonesia would intensify joint efforts in halal certification, education, research and halal workforce development. He said Malaysia also fully supports expert exchange programmes, joint training and collaborative research to strengthen the ASEAN halal value chain. Both countries also agreed to expand halal trade by easing market access for halal products and enhancing mutual recognition of halal certification. 'This move will facilitate smoother and more industry-friendly halal trade flows, while supporting the growth of intra-ASEAN trade. It is expected to have a positive impact on halal market demand in ASEAN, which comprises nearly 700 million people,' he said. Ahmad Zahid noted that the meeting was a continuation of his recent official visit to Indonesia, which marked the beginning of deeper collaboration between the two nations in leading the development of the regional halal industry.
Barnama
26-05-2025
- Business
- Barnama
Malaysia, Indonesia To Lead Establishment Of ASEAN Halal Council
KUALA LUMPUR, May 26 (Bernama) -- Malaysia and Indonesia are set to lead the establishment of the ASEAN Halal Council to position the bloc as a global model for the halal industry, built on high standards and integrity, and to emerge as a competitive, inclusive and sustainable global halal hub, said Datuk Seri Dr Ahmad Zahid Hamidi. The Deputy Prime Minister said that with the global halal market projected to reach USD5 trillion (USD1 = RM4.22) by 2030, ASEAN must emerge as a leader in developing a complementary and competitive regional halal ecosystem. Ahmad Zahid, who also chairs the Halal Industry Development Council of Malaysia, said both countries had agreed to jointly spearhead the formation of the ASEAN Halal Council this year. 'This will serve as a strategic platform to systematically align halal policies, standards and regulations among ASEAN countries. We are strongly committed to elevating halal cooperation to a higher level, focusing on strengthening the position of both countries' halal products in regional and global markets. 'This collaboration will also be a testament to the success of Malaysia's 'Halal Diplomacy' in strengthening the national halal brand globally,' he said in a statement following a strategic meeting with Indonesia's head of the Halal Product Assurance Organising Agency (BPJPH), Haikal Hassan Baras, on the sidelines of the 46th ASEAN Summit here today. Ahmad Zahid said Malaysia and Indonesia would intensify joint efforts in halal certification, education, research and halal workforce development. He said Malaysia also fully supports expert exchange programmes, joint training and collaborative research to strengthen the ASEAN halal value chain. Both countries also agreed to expand halal trade by easing market access for halal products and enhancing mutual recognition of halal certification. 'This move will facilitate smoother and more industry-friendly halal trade flows, while supporting the growth of intra-ASEAN trade. It is expected to have a positive impact on halal market demand in ASEAN, which comprises nearly 700 million people,' he said.
