Europe's born-again bonds
Italy, Spain, Ireland, Portugal and Greece, which nearly collapsed under the burden of their debt in 2011, have since transformed into top picks for firms like PGIM Fixed Income, where Felices works as a London-based investment strategist.
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The Star
24 minutes ago
- The Star
With more self-driving cars on the road, US states put more rules in place
In an aerial view, brand new Tesla cars sit parked in a lot at the Tesla Fremont Factory on April 24, 2024 in Fremont, California. last year, the National Highway Traffic Safety Administration began investigating Tesla's Full Self-Driving system after multiple reports of crashes that occurred in low-visibility conditions. — Getty Images/TNS Self-driving vehicle technology continues to advance, prompting a wave of liability and safety regulations from US state lawmakers. This year, lawmakers in Arizona, Louisiana, Montana, Nevada and the District of Columbia enacted legislation to regulate driverless vehicles, according to a database from the National Conference of State Legislatures. While much of the legislation aims to update existing law to include new definitions for autonomous vehicles, other measures put rules in place regarding insurance, permitting, licensing and road testing. In total, lawmakers in 25 states introduced 67 bills related to autonomous vehicles, according to the database. California, Illinois, Massachusetts, New Jersey, New York and Pennsylvania currently have bills under consideration. Alaska, Delaware and Washington have bills that will be carried over into the next legislative session. Governors vetoed two measures this year. Colorado Democratic Gov. Jared Polis shot down a measure that would have required a driver to be present in any commercial vehicle being operated by an automated driving system. Virginia Republican Gov. Glenn Youngkin vetoed a measure that would have put rules in place for "high-risk artificial intelligence systems," but would have excluded "autonomous vehicle technology" from that category. As of now, there are no vehicles that have achieved full autonomy, according to the Society of Automotive Engineers' criteria. But several car companies have introduced automated driving features, allowing drivers to take their hands off the wheel. Tesla is rolling out its Full Self-Driving feature, a system under which a vehicle can drive itself almost anywhere with minimal intervention from the driver. Tesla Autopilot, which the company made available to the public in late 2024, also helps with basic vehicle maneuvering. And Waymo, the country's first autonomous ride-hailing service, is currently operating in Atlanta; Austin, Texas; Los Angeles; Phoenix and San Francisco. The robo-taxi company plans to expand to Miami and Washington, D.C., next. According to the National Highway Traffic Safety Administration, vehicle safety is the main benefit of driverless cars. With higher levels of automation, there is less room for human error or driver distractions. The new technology also could improve safety for bicyclists and pedestrians, according to the agency. But driverless cars have been involved in hundreds of accidents over the past few years. Between 2021 and 2024, there were 696 accidents reported that involved a Waymo vehicle, according to an analysis by California-based law firm DiMarco – Araujo – Montevideo. And last year, the National Highway Traffic Safety Administration began investigating Tesla's Full Self-Driving system after multiple reports of crashes that occurred in low-visibility conditions. – News Service
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Daily Express
an hour ago
- Daily Express
Recording a new milestone in journey to success
Published on: Monday, August 18, 2025 Published on: Mon, Aug 18, 2025 By: Leonard Alaza Text Size: Hunai Jaya is the latest industry player to join the VDP, aimed at empowering Bumiputera vendors to build resilience and sustainability. Kota Kinabalu: Since its inception in 2016, Hunai Jaya Resources Sdn Bhd has steadily grown into a formidable player in the local oil and gas services and equipment (OGSE) industry. The Sabah-based company built its legacy by prioritising quality and reliability, ensuring customer satisfaction remains at the forefront of its operations. This commitment to excellence has paved the way for its inclusion in PETRONAS' Vendor Development Programme (VDP), a significant milestone for the company. Gaining recognition and building momentum Hunai Jaya's formative years were focused on developing their core competencies and strengthening their operations through workforce upskilling and building strategic partnerships. 'As we gained recognition in the electrical and instrumentation fields, our dedication to sustainability and innovation allowed us to expand our service offerings and customer base,' said Hadida Hadi, the company's director. Today, Hunai Jaya has diversified its offerings to include oil and gas engineering maintenance, instrumentation validation and calibration services, civil construction and building maintenance, marine consultancy, grass-cutting services and manpower supply. Reflecting on its early days, Hadida recalled the initial challenges that the company faced upon its establishment. Hunai Jaya's collaboration with PETRONAS began as early as 2016 with its first project at PETRONAS Chemicals Fertiliser Sabah Sdn Bhd facility in Sipitang, where they supplied general workers. 'This marked the beginning of our journey in manpower supply, meeting PETRONAS' standards. As many experienced professionals sought opportunities abroad, one of our early challenges was sourcing semi-skilled and skilled workers. 'To address this, we expanded recruitment beyond local districts and provided housing facilities to ease workers' transition. We also prioritised safety training and regulatory compliance, ensuring our workforce was well-prepared to meet industry demands,' Hadida said. Since then, Hunai Jaya has worked for PETRONAS to construct and maintain petrochemical plants, offshore platforms and pipelines, and offer consultancy, design solutions and feasibility studies for industry projects. Hunai Jaya's workforce has also expanded to over 200 employees engaged in various projects. Levelling up At the Sabah Commemoration Day in Kota Kinabalu earlierthis year, PETRONAS welcomed Hunai Jaya as the latestindustry player to join its Vendor Development Programme (VDP), marking a significant milestone in its growth journey. Since 1993, VDP has empowered Bumiputera vendors to build resilience and sustainability, with 21 Sabah vendors appointed to date. The programme focuses on enhancing technical competence, commercial viability and homegrown innovation while fostering growth and paving the way forinternational expansion, including potential listing on Bursa Malaysia as a long-term objective. When asked on the decision to embark on this prestigious programme, Hadida highlighted several key factors that drove Hunai Jaya's motivation to participate in VDP. 'Apart from providing us access to resources, technology and increased market visibility, VDP also fosters collaboration with industry players, allowing us to forge strategic partnerships while encouraging best practices and innovation. 'This commitmentto continuous improvement aligns with our dedication to operational excellence and long-term growth,' said Hadida. Hunai Jaya hopes to leverage its experience as a VDP vendor, acknowledging that it was initially challenging to meet the programme's requirements and determine their eligibility. 'Through active internal and external engagements with VDP representatives and our workforce, we managed to overcome these challenges and strengthened our capabilities in positioning Hunai Jaya for long-term growth in the oil and gas sector,' Hadida said. Commitment to environment and society As a VDP participant for liquefied petroleum gas (LPG) cylinder maintenance, Hunai Jaya demonstrated its commitment to sustainability by supporting PETRONAS' sustainability aspirations, including the Net Zero Carbon Emissions (NZCE) by 2050 agenda. 'We adopt sustainable maintenance practices, prioritising eco-friendly and energy efficient methods to reduce energy consumption. We also support NZCE goals through the maintenance of LPG cylinders, thereby enhancing the safety and efficiency of LPG use, promoting a lower-carbon energy solution,' Hadida adds. On the social front, Hunai Jaya remains committed to empower localtalent, create job opportunities and enhance local workforce capabilities in LPG cylinder maintenance. 'We aim to prioritise hiring 100 per cent local Sabahans across our operations and support local suppliers by sourcing our materials and services from them, ensuring employment opportunities for the regional workforce and contribute to economic stability in the State. 'Apart from investing in employee upskilling through industry-specific training to enhance their capabilities in the OGSE sector, we also invest in local infrastructure development, where our projects contribute to improvement ofroads, utilities and facilities that benefit the community,' Hadida said. Looking ahead As a newcomer to the VDP and despite the initial challenges that Hunai Jaya encountered, Hadida is optimistic that the company's participation in the programme will be invaluable in enhancing operational efficiency, driving innovation and ultimately support industry growth. 'Through VDP, we aim to enhance our capabilities, contribute to industry growth and achieve long-term success. We are committed to making the most of the programme's opportunities and look forward to advancing our journey with VDP,' Hadida said. The collaboration between Hunai Jaya and PETRONAS through VDP will support Hunai Jaya's aspirations to continue becoming a trusted industry partner, reaffirming their commitment to delivering exceptional value and contributing towards the success of their customers and the wider community. Meanwhile, PETRONAS and the Sabah Government continue to drive significant progress in strengthening the state's oil and gas industry, fostering economic growth and expanding local vendor participation. This aligns with PETRONAS' commitment to supporting the Sabah Government and industry partners in realising the state's aspiration of becoming a regional oil and gas hub. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
2 hours ago
- The Star
Klook taps banks for US IPO, sources say
FILE PHOTO: A view shows the New York Stock Exchange (NYSE) Wall Street entrance in New York City, U.S., April 7, 2025. REUTERS/Kylie Cooper/File Photo NEW YORK: Klook, a travel booking services company, has hired investment banks to help arrange a potential initial public offering in the U.S., according to two people with knowledge of the matter. The Hong Kong-based company, backed by investors including SoftBank Group and Goldman Sachs Group, is working with bankers at Goldman, Morgan Stanley and JPMorgan on the planned first-time share sale, said the people, asking not to be identified as the process is private. The deal could come as early as this year and raise around $500 million, they said, cautioning that the timing and deal size are subject to market conditions. U.S. IPO activity has gained momentum, bolstered by strong tech earnings and signs of progress in trade negotiations that have restored investor confidence. Recent listings, including cryptocurrency exchange operator Bullish, and design software company Figma, underscore the uptick in market debuts, reversing a period in the year when uncertainty over President Donald Trump's tariff policies weighed on new offerings. Klook, Goldman Sachs and JPMorgan declined to comment. Morgan Stanley did not respond to a request for comment. It was not immediately clear whether Klook will be selling a stake in the IPO, or whether it will be an investor sell-down or a combination of both. Bloomberg News reported earlier the company was exploring a U.S. IPO. Founded in 2014, Klook turned profitable in 2023. It provides various booking services to travelers across a range of locations globally and competes with other global travel booking sites such as and TripAdvisor, as well as China's and South Korea's Yanolja. The company said in February it had raised $100 million in a funding round led by European investment firm Vitruvian Partners, but did not disclose its valuation at the time. Other investors in Klook include HSG, formerly known as Sequoia Capital China. - Reuters
