☕️ Politician's double standards treatment again
Stock market tycoon announced his education scholarship for the needy. PM Muhyiddin to build very expensive halls for his constituency. Xiaomi finds itself on the US Defense Department blacklist.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
US$1.4 trillion stimulus plan announced by Biden with US$1,400 direct payments and federal unemployment benefits.
US$150 billion worth of deals happened in the venture capital space in 2020.
242,000 acres of farmland is now owned by Bill Gates, making him the biggest private -farmland owner.
7,500 bitcoins in a hard disk drive, was thrown by a man 8 years ago. He’s now seeking the local council’s permission to search the landfill, to retrieve approximately US$264 million.
3. COVID-19 SUMMARY
4. IN MALAYSIA 🇲🇾
Two days before MCO began on 13th Jan 2021, the Prime Minister approved RM35 million to build public halls in Pagoh. Prime Minister’s Office clarified the budget was meant for three halls instead of one hall as alleged by the public. Wouldn’t it be better if this money was spent on Covid-19 testing or vaccination instead?
If you were following news for glove counters last year, you may have came across this blog — Koon Yew Yin. He published a post over the weekend granting university scholarships to parents who are earning less than RM3,000 per month. Check it out here.
We’re seeing double standards once again with DS Azmin Ali (Member of Parliament for Gombak) being allowed to cross border. He was in Pengerang Johor at a gotong royong programme.
UMNO wasn’t so lucky though, as the political party was fined by the police for the mass gathering it caused on Friday. Hundreds of people turned up to collect 2,000 frozen chickens given away for free by UMNO.
Top Glove Corp Bhd is once again in the spotlight as the company declared that employees in four factories test positive for Covid-19. It did not disclose how many employees are affected tho.
As on 15 January 2021, a total of 13 banks are offering financial assistance to customers affected by the floods.
5. AROUND THE WORLD 🌎
UK is on the brink of a double dip recession after its economy shrunk by 2.6% in Nov 2021.The situation could worsen given the lockdown imposed since November. More than 370,000 people tested positive in the past 7 days while more than 7,500 people died, up 50% from the week earlier.
Pfizer/BioNTech and Moderna used the mRNA approach to develop its Covid-19 vaccine at record speed compared to conventional methods of developing vaccine. The mRNA approach was discovered by an immigrant scientist to the US, Katalin Kariko. After various ups and downs and battling cancer, she made the crucial breakthrough. The founders of both Moderna and BioNTech came across her work and applied it in the company they have founded. What else is this mRNA approach good for? The health version of death penalty - cancer. The pipelines of Moderna and BioNTech include drugs for fighting cancers. Hopefully this will bring a breakthrough in cancer treatment in the near future.
ETF is a low-cost investment vehicle that allows investors to gain exposure in a specific sector. Ark Invest, which manages the largest actively managed ETF, will be launching a ‘Space Exploration ETF’, giving investors exposure to ventures that will bring humans to space and Mars.
Its flagship ARK Innovation Fund had a fantastic year in 2020, returning 170% to its investors.
The US Department of Defense has blacklisted another 9 Chinese companies, labelling them as ‘communist Chinese military companies’, which bans US investment and requires investors to sell off their holdings in these companies by 11 Nov 2021.
Xiaomi, amongst the largest and fastest-growing phone manufacturers in the world is included in this list. Xiaomi plunged as much as 14% on this news. It closed on Friday with a market cap of USD95.2 billion.
Following Trump’s incitement of the insurrection of US Capitol Hill, these are how the business community is responding to the rogue President:
Censorship and banned from social media platforms.
Cutting off and reviewing political donations to Republicans. Hallmark, the greeting card company, went as far as requesting for a refund.
Cutting corporate spending and severing business ties with Trump’s businesses.
Banks to stop providing financial services to Trump and his organisations.
Petco, the online pet products and services company is going public - for the third time and its share popped as high as 70% on its first trading day. Interesting stock ticker it has - ‘WOOF’
After users backlash arising from Whatsapp change in policy that users have to share its data with Facebook-owned business,, Whatsapp has extended its acceptance deadline of this policy to 15 May 2021.
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