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The Governor of the Central Bank of Malaysia stated that the country will inevitably be directly and indirectly affected by the Middle East conflict. The Malaysian economy is expected to remain resilient in 2026, with growth projected at 4%-5%. Despite external headwinds, technological expansion will support export growth. Strong domestic demand will provide strong support against external headwinds.Central Bank of Malaysia: Indicators show that overall price conditions remained relatively under control as of early May. Overall inflation is expected to rise slightly in 2026. The ringgit remains resilient despite ongoing Middle East conflicts.On May 15th, the Bank of Japan stated that Japan may face another round of across-the-board price increases around the summer as businesses ranging from food manufacturers to hot spring resorts consider passing on soaring energy costs caused by the Middle East conflict to consumers. In a report based on a survey of regional businesses conducted from January to April, the Bank of Japan noted that many service sector companies are gradually passing on rising raw material and labor costs to consumers, abandoning their long-standing practice of maintaining low prices. The report stated that rising energy costs due to the Middle East conflict have also prompted companies to accelerate price increases in their fiscal year business plans starting in April. Some companies, including those in the food, restaurant, and hot spring resort industries, have decided to raise prices at a faster pace. The report stated, "Other companies indicated they will soon decide whether to raise prices. As for the specific timing, some companies indicated they will decide around the summer or later." This report highlights the Bank of Japans growing concern about accumulating inflationary pressures in the economy, which could provide further justification for a near-term interest rate hike.World Bank: Vietnams economic growth is projected to slow to 6.8% by 2026.Abu Dhabi National Energy Company (TAQA): Average oil and gas production in the first quarter was 94,600 barrels of oil equivalent per day. Revenue from the oil and gas business declined in the first quarter.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


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