Day: July 31, 2024

KUALA LUMPUR,, SingleStore, the real-time data platform that helps users transact, analyse and contextualise their data, has launched a new accelerator programme for artificial intelligence (AI) startups in the Asia Pacific (APAC) region. In a statement, SingleStore said the programme furthers its vision to partner with businesses in the region to develop world-class AI applications (apps). ‘We are here to help this region become a hub for AI and technological innovation, and are committed to providing users with a robust data platform to support their current and future data needs,’ said SingleStore Chief Executive Officer, Raj Verma. SingleStore is committed

KUALA LUMPUR,, The Retirement Fund Inc’s (KWAP) net income surged 36-times to RM9.7 billion for the financial year 2023 (FY2023) — its second highest figure since 2017– compared to RM263 million reported in 2022. Chief investment officer Hazman Hilmi Sallahuddin attributed this substantial growth to the challenging conditions of 2022, which saw KWAP encountering unrealised losses from its domestic and international investments. The fund also achieved a robust total fund investment return of 8.2 per cent for the year. ‘In FY2023, KWAP’s fund size grew to RM169.8 billion, marking a 7.4 per cent increase from RM158.1 billion in 2022,’ he

KUALA LUMPUR,, The implementation of targeted diesel subsidies is not expected to have a significant impact on inflation and economic growth, as the government has taken into account the rate of increase in diesel retail price and the cash assistance provided, the Finance Ministry (MoF) said. Therefore, the official 2024 forecasts for inflation and gross domestic product (GDP) growth remain at 2.0-3.5 per cent and 4.0-5.0 per cent, respectively, the ministry said. ‘In principle, the government takes the approach of subsidy rationalisation while continuing to provide subsidies to groups that are in need, especially those with low to medium incomes,’