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Last month, the US Federal Reserve’s top regulatory official told Congress that the central bank would likely unveil its plan to ratchet up capital rules for banks this summer and ensure supervisors more aggressively police lenders following the bank failures. — Reuters pic

WSJ: US banks could face 20pc hike to capital requirements 

UBS had been rushing to close the transaction in record time, hoping to provide greater certainty for Credit Suisse clients and employees, and to stave off departures. — Reuters pic

UBS: Takeover of Credit Suisse to close as early as June 12

Malaysia (47.8) and Vietnam (45.3) were the only two countries reporting a deterioration in business conditions, for the ninth and third consecutive months, respectively. ― Picture by Yusof Mat Isa

S&P Global Asean PMI retreats to 51.1 in May

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De Beers on Pace to Deliver on Ambitious 2030 Sustainability Goals and Create Enduring Positive Impact for People and The Planet

UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia. — Reuters pic

Bloomberg News: UBS to retain more than 100 Credit Suisse bankers in Asia 

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Kingdee Ranked First in aPaaS in China. Innovation Summit on 7 June to Showcase the Latest Digital Transformation Technologies.

Asian shares extended a global rally today on optimism the Federal Reserve would pause its rate hikes this month after a mixed US jobs report, while oil jumped as Saudi Arabia pledged big output cuts in July. — AFP pic

Asian shares extend global rally; oil prices jump on Saudi cuts

Opec , which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, pumps around 40 perc cent of the world’s crude, meaning its policy decisions can have a major impact on oil prices. — Reuters pic

Saudi pledges big oil cuts in July as Opec+ extends deal into 2024

Former NBCUniversal executive Joe Benarroch will join Twitter today, in a role focusing on business operations. — AFP pic

Ex-NBCUniversal executive Joe Benarroch to join Twitter

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Spackman Media Group Artist Son Suk-ku Ranks #1 In Movie Star Brand Reputation In Korea

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud arrives for an Opec meeting in Vienna June 4, 2023. — Reuters pic

Tough talks as Opec+ weighs fresh output cuts to boost oil price

An IndiGo airlines passenger aircraft taxis on the tarmac at Chhatrapati Shivaji International airport in Mumbai May 29, 2023. — Reuters pic

Sources: Airbus heads towards 500-jet order from India’s IndiGo 

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EcoCeres Renewable Fuels invest RM1b in sustainable aviation fuel plant in Johor

A tugboat works to refloat the Seavigour oil tanker to the waiting area in the Suez Canal, next to Ismailia, Egypt June 4, 2023. — The Suez Canal Authority handout pic via Reuters

Suez Canal traffic resumes after broken down tanker tugged away

Minister in the Prime Minister’s Department (Religious Affairs), Datuk Mohd Na’im Mokhtar delivers a speech at the closing of the 2023 Mega Fatwa and Halal Carnival and launch of Sahabat Halal IPT at Universiti Sains Islam Malaysia in Nilai June 4, 2023. — Bernama pic

Malaysia’s halal food sales expected to reach RM50b this year, says minister

New Treasury and Finance Minister Mehmet Simsek looks on during a press conference where Turkish President Tayyip Erdogan announced the new cabinet, in Ankara June 3, 2023. — Reuters pic

Turkiye’s economy to return to ‘rational ground’, new finance minister says