Uber chief resigns
Uber Technologies Inc co-founder Travis Kalanick has stepped down as chief executive of the ride-hailing service, following intense pressure from investors. Kalanick’s resignation comes after a months-long investigation led former US Attorney General Eric Holder, who was hired by Uber to look into its culture and workplace practices after a female former employee publicly accused the company of what she described as brazen sexual harassment.
Najib pleased with MAS restructuring progress
Prime Minister Datuk Seri Najib Razak is satisfied with the positive results shown by Malaysia Airlines (MAS), saying that its restructuring process is on track. The national carrier is undertaking a RM6 billion restructuring exercise which is likely to be completed in five years’ time. Among others, it is taking measures to cut costs, realign its fleet and expand routes. The restructuring plan was put into place in 2015.
Kuala Lumpur cheapest city to work and live
A recent study has put rental in Kuala Lumpur as the cheapest among the top 30 cities in the world dubbed the “best” to work and live in by audit giant PricewaterhouseCoopers (PwC). According to rental search company RENTCafé, Kuala Lumpur’s placement as the most affordable place to rent among the 30 cities was also a massive jump from its 20th place in the previous ranking. “Kuala Lumpur takes the crown as the most affordable city for renters, with only 20 per cent of its dwellers’ income spent on renting an apartment.
Malaysian Banking Profile
S&P Global Rating said a combination of slower growth and higher leverage in Malaysia increases credit risks for the country’s banks. &P Global Ratings credit analyst Rujun Duan said, “Malaysia’s economic expansion shifted to a lower gear two years ago, and the momentum has not returned. A weak energy sector, subdued global demand, and tightened domestic spending continue to drag on growth. In 2016, the Malaysian banks we rate reported weak earnings growth, and we expect their full year profitability to remain sluggish in 2017.
Malaysian Business Leaders Agree On Need For Digital Transformation
Microsoft (Malaysia) Sdn Bhd says 88 per cent of business leaders in Malaysia agree on the need to transform into a digital business to enable future growth. Marketing and Operations Director Michal Golebiewski said the recent findings of the Microsoft Asia Digital Transformation Survey to understand how business leaders are embracing the digital era showed that the business leaders, particularly those with titles of high ranking executives, agreed that new data insights could increase revenue and lead to new revenue streams. “However, only 34 per cent of companies had a complete strategy and were well on the way to digitising their business which includes matured and developed digital processes, people readiness and support systems in place to engage with customers.”