Oil falls ahead of expected Opec+ output hike
CALGARY: Oil futures slipped slightly in thin holiday trading on Friday, as the market looked ahead to this weekend's Opec+ meeting and the likelihood that member countries will decide to raise output.
Brent crude futures settled down 50 cents, or 0.7%, at US$68.30 a barrel while US West Texas Intermediate crude was down 50 cents, or 0.75%, at US$66.50 just before 1300 EDT (1700 GMT). Trade was sparse due to the US Independence Day holiday.
Billed as RM9.73 for the 1st month then RM13.90 thereafters.
RM12.33/month
RM8.63/month
Billed as RM103.60 for the 1st year then RM148 thereafters.
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The Sun
an hour ago
- The Sun
TikTok Shop emerging as growth driver for Malaysian SMEs through ‘shoppertainment'
PETALING JAYA: TikTok Shop is emerging as the growth driver for Malaysian small and medium enterprises through its social media engagement and e-commerce combination known as 'shoppertainment'. For local creators interviewed by SunBiz, the platform has become a game changer. Pinn Yang, for example, said TikTok Shop finally bridged the gap between content discovery and actual sales conversion. 'Before this, even with our strong following, there was no direct way to turn discovery into purchase. With TikTok Shop, we closed that gap,' he said. His team grew from experimenting with live selling to generating over RM3.8 million in sales during the Yang Riang Raya campaign within a year. The secret, he said, lies not just in using the platform, but in the speed of testing, feedback and adaptation. 'People think you need a big audience or fancy equipment. But when we started, it was just me, a phone and a ring light. What really matters is consistency and truly understanding what your audience wants.' For Puspa Gomen, TikTok Shop transformed her brand by simplifying the buying process and expanding reach. 'Some of my TikTok videos reached up to eight million views, and in just three months, I made almost half a million in sales,' she shared. She added live streams allow buyers to see products in action, ask questions and build trust in real time which are crucial for driving repeat purchases. Eira Syazira, founder of Candyta, echoed the sentiments, calling TikTok Shop a game changer that enabled rapid scaling far beyond traditional retail. In just six months, Candyta saw sales surge, with 35% now coming from returning customers and its follower count multiplying fivefold. Meanwhile, Nabilah Nazib of Sugardoll described TikTok Shop as a pivotal shift from a labour-intensive, agent-based system to a direct-to-consumer model. 'Previously, our revenue relied on manual order-taking. Now, sales are driven by content, not manpower. Stock sells out in hours after a viral live,' she said. Beyond reduced acquisition costs and faster sellouts, she noted that genuine, problem-solving content matters more than follower count. 'This proves that today, scaling a brand is less about team size and more about being visible, relatable, and consistent.' Syeikh Omar Sadeq, another creator, saw sales jump two to three times after joining TikTok Shop. 'Short videos help build community, while live sessions let us explain products and connect directly. Many customers return because they feel more confident after watching our lives,' he said. Contrary to popular belief, creators said TikTok Shop isn't just for young shoppers or cheap products. Premium offerings can succeed too if the story, authenticity and community connection are strong. The latest data on TikTok Shop's global gross merchandise value (GMV) shows that consumers in Malaysia spent a whopping US$2.724 billion (about RM12.07 billion) in 2024. According to TikTok Shop's GMV in Malaysia grew 104% year-on-year from US$1.3 billion in 2023, making Malaysia one of the platform's top six markets globally. TikTok Shop is not just expanding rapidly, it is outpacing traditional giants in percentage growth and positioning itself as the second-largest platform in the market. Data from showed Shopee is leading the Malaysian market with US$7.24 billion in GMV for 2024, followed by TikTok Shop and Taobao. However, Tik-Tok Shop is leading the surge in live and video commerce in Southeast Asia, where players like Shopee and Lazada are playing catch-up.
New Straits Times
9 hours ago
- New Straits Times
US' long-term debt problems may get worse
President Donald Trump's tax-cut and spending bill, which passed Congress on Thursday, averts the near-term prospect of a United States government default but makes America's long-term debt problems even worse. Republican lawmakers in the House of Representatives approved the bill that will extend Trump's 2017 tax cuts, authorise more spending on border security and the military, make steep cuts in Medicare and Medicaid – and add trillions to the government's debt. Trump signed the bill into law on July 4. As part of the tax package, lawmakers raised the government's US$36.1 trillion borrowing limit that it was projected to hit later this summer by US$5 trillion — a move that will assuage concerns over a possible default on US debt. Analysts had estimated the so-called X-date, when the Treasury would no longer be able to pay all of its obligations without an increase or suspension of the debt limit, could have occurred at the end of August or in early September. Longer term, however, the bill has largely been seen as bad news for the US bond market and the nation's fiscal health. It will add US$3.4 trillion to the nation's debt over the next decade, nonpartisan analysts have estimated. That would exacerbate concerns about additional bond supply and dwindling demand for US Treasuries that have been a key driver of financial markets in recent months. "The bill contributes to some of the structural concerns around Treasuries, with respect to, No. 1, fiscal deficit and elevated debt levels, and No. 2, inflation," said Mike Medeiros, macro strategist at Wellington Management. BlackRock said last Monday that foreign buyers were already souring on American debt. There was a real risk that demand for the US$500 billion in debt the US issues every week will fall even more and push borrowing costs higher. The bill is projected to reduce tax revenues by US$4.5 trillion, reduce spending by US$1.2 trillion and cost 10.9 million people their federal health insurance over the next decade, according to estimates from the Congressional Budget Office. The legislation also stokes economic growth by allowing businesses to fully expense equipment purchases as well as research and development costs, and provides other tax breaks. Some investors, however, worry the debt overhang could curtail the economic stimulus in the bill, which Trump refers to as the "One Big Beautiful Bill". "We believe the One Big Beautiful Bill will accelerate corporate earnings growth, which ultimately will drive equity values," said Ellen Hazen, chief market strategist at F.L. Putnam Investment Management. "But this could lead to higher-for-longer Treasury rates, making many fixed-income investments somewhat less attractive over the longer term," she said. Benchmark 10-year Treasury yields were higher on Wednesday after days of decline. By raising the US federal borrowing limits, the bill removes the low-probability but high-impact risk of a US debt default, which could have catastrophic consequences for global markets. In recent weeks, the interest rate on some Treasury debt due in August had risen more than yields of short-term Treasury bills coming due around the same time, a sign investors were getting nervous about the approaching X-date.
The Sun
12 hours ago
- The Sun
AirAsia signs US$12.25 billion deal for 50 A321XLRs with rights for 20 more
PETALING JAYA: AirAsia Bhd, a wholly owned subsidiary of Capital A Bhd, has signed a landmark agreement with Airbus valued at US$12.25 billion (RM51.75 billion) for 50 A321XLRs with rights for 20 more. With the agreement, the airline is taking a major step towards becoming the world's first low-cost narrow-body network carrier, anchored by its multi-hub strategy. The aircraft are scheduled for delivery from 2028 through 2032. Witnessed by Prime Minister Datuk Seri Anwar Ibrahim, the agreement was signed in Paris on Friday between Capital A CEO Tan Sri Tony Fernandes and Airbus Commercial Aircraft CEO Christian Scherer. Fernandes, who is also adviser and steward of AirAsia Group, said: 'We pioneered low-cost travel in Asia – now we are taking it to the next level. AirAsia is on a transformative journey to become the world's first low-cost network carrier. This is about exponential growth, connecting geographies beyond Asean, and making flying even more democratic. 'We gave people in Asean the opportunity to explore Asia – now we want the world to see Asean, and Asean to see the world. The A321XLR and A321LR are the game-changers enabling this vision, and we are proud to lead the charge in making our world smaller. We can't wait to paint the skies even wider in red.' Scherer said: 'We are pleased to confirm this agreement, as AirAsia Group begins its next development chapter. Having resumed its growth trajectory, which we salute and support, the airline is creating solid fleet efficiencies, allowing global network expansion. The A321XLR unlocks new opportunities for AirAsia to launch non-stop flights linking primary and secondary cities all around the globe.' The next-generation A321XLRs will operate alongside AirAsia's all-Airbus fleet of A320 and A330 aircraft, supporting its long-term strategy to deliver connectivity across Asia and beyond, while maintaining a low-cost model through improved route economics, enhanced aircraft utilisation and fleet efficiency. AirAsia Group aims to carry 150 million guests annually by 2030, reaching a cumulative total of 1.5 billion guests since inception. The new fleet plays a pivotal role in this transformation. AirAsia's multi-aircraft strategy enables the airline to match capacity with demand, reduce fuel consumption and support a sustainable, cost-effective growth model in a highly competitive global landscape. The A321XLR offers up to 20% lower fuel burn per seat than the Airbus A321neo aircraft, significantly improving emissions performance and operating efficiency.
