DIRS.INFO The most relevant business & tech news

Hedge fund managers gathered Wednesday at the 2024 Sohn Investment Conference in New York to share their best investment ideas. It kicked off with "Next Wave Sohn," a session that features ideas from rising stars within the hedge fund industry. Endocrinology is an $8 billion market, but the cumulative market size, including the company's future therapy targets, is upward of $200 billion, which includes estimates for future obesity drugs, the investor said. It has CA$75 billion market cap with an "unbelievable record of success," according to the investor. The short seller noted that the company has a $5 billion market cap with about $4.8 billion of debt.

Persons: Sohn, Eric Wolff, Wolff, Michelle Ross, Cushing, Ross, Eli Lilly, Crinetics, XBI, Nikhil Daftary, Alimentation, Daftary, Chris Drose, Nate Koppikar, Fahmi Quadir Organizations: Investment, Gumshoe Capital Management Investment, Pason Systems Energy, Pason Systems, Gumshoe Capital Management, StemPoint, Pharmaceuticals, Crinetics Pharmaceuticals, StemPoint Capital, Endocrinology, Novo Nordisk, P Biotech, NK Capital Investment, NK Capital, Starbucks, McDonalds, Bleecker Street Capital, Orso Partners, Justice Department, Federal Trade Commission, Safkhet, Global Education Locations: New York, Canada, U.S

☆ Malaysia Cabinet Discusses Najib Pardon Bid, but Won't Announce Outcome - Minister
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

It will be at the discretion of the Pardons Board to announce its decision, Saifuddin Nasution Ismail said at a press conference on immigration and labour issues, which was packed with media seeking news on Najib's clemency bid. Najib requested a royal pardon shortly after beginning his sentence in 2022 and after exhausting all other appeals. Najib's lawyer and representatives, as well as Malaysia's attorney-general, a member of the pardons board, did not respond to Reuters' requests for comment. "Let us not jump the gun, let us wait for an official statement to be made," Communications Minister Fahmi Fadzil said at a separate press briefing. U.S. and Malaysian investigators estimate around $4.5 billion was stolen from 1MDB, with more than $1 billion channeled to accounts linked to Najib.

Persons: Danial Azhar, Najib Razak, Saifuddin Nasution Ismail, Najib, Prime Minister's Department Zaliha Mustafa, Najib's, Fahmi Fadzil, Jho Low, Nooryana Najwa Najib, pensively, Martin Petty Organizations: Reuters, 1Malaysia Development, Prime Minister's Department, Communications, Saudi Locations: KUALA LUMPUR

☆ Fahmi Quadir, short seller nicknamed 'The Assassin,' takes aim at for-profit college giant Adtalem
▼ + stars: | 2024-01-30 | by ( Eamon Javers | ) www.cnbc.com time to read: +4 min

Quadir told CNBC she has a short position in the stock, meaning she is betting that the share price will decline. "We believe that Adtalem is completely uninvestable, the number of existential risks that exists today should cause alarm for any investor that's looking into this company," Quadir said. In 2017, DeVry Education changed its DV ticker symbol to Adtalem's current ATGE, completing the rebranding of DeVry into Adtalem. Quadir's report found that among Adtalem's properties, the online college Walden University has a graduation rate of just 29%. Adtalem's stock price has soared over 75% in just seven months, from just over $33 a share in late June, to more than $60 a share at Monday's open.

Persons: Quadir, Safkhet, Bridget Bennett, Rafael Henrique, Lightrocket, DeVry, Adtalem Organizations: Bloomberg, Getty Images WASHINGTON, Walden University, Chamberlain University, Ross University School of Medicine, CNBC, Safkhet, Netflix, Education, DeVry University, Cogswell Education, Blackrock, Vanguard, Department of Education, Higher Locations: Las Vegas , Nevada, U.S, Barbados, Quadir, Adtalem

☆ Short seller nicknamed ‘The Assassin' takes aim at for-profit college giant Adtalem
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShort seller nicknamed ‘The Assassin' takes aim at for-profit college giant AdtalemShort seller Fahmi Quadir has found her new target: the $2 billion market cap Adtalem Global Education. Adtalem is the successor to DeVry University, the for-profit education company that went public in 1991. In a new report exclusively obtained by CNBC, Quadir’s firm writes that Adtalem is “a toxic byproduct of an imperfect higher education system.”

Persons: Quadir, Adtalem Organizations: Adtalem, DeVry University, CNBC

KUALA LUMPUR, Malaysia (AP) — Organizers of Wednesday's Coldplay concert in Malaysia can stop the show if the British rock band misbehaves, a minister said as the government rejected Muslim conservatives' calls to cancel the show. Led by the country's opposition bloc, Muslim conservatives have protested the concert over Coldplay’s support for the LGBTQ+ community. Communication and Digital Minister Fahmi Fadzil said he doesn't foresee any problem with Coldplay's first concert in Malaysia later in the night. Prime Minister Anwar Ibrahim has justified allowing the Coldplay concert, telling Parliament on Tuesday that “Coldplay is actually among the bands that support Palestine." Anwar said pro-Palestinian groups also approached his office in support of the Coldplay concert.

Persons: Wednesday's, Fahmi Fadzil, Coldplay's, ” Fahmi, Anwar Ibrahim, Coldplay, Anwar, Ahmad Fadhli Shaari, ”, ” Coldplay, Chris Martin Organizations: —, Wednesday's Coldplay, Digital, Malaysia, British, Coldplay, Islamic, PAS, Live, Police, Coldplay's, Protesters Locations: KUALA LUMPUR, Malaysia, British, Israel, Kuala Lumpur, “, Palestine, Indonesia

☆ Malaysia to warn TikTok, Meta over alleged blocking of pro-Palestinian content
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

[1/2] A TikTok logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Meta Platforms Inc FollowTikTok FollowKUALA LUMPUR, Oct 26 (Reuters) - Malaysia's communications regulator will issue a warning to social media firms Tiktok and Meta (META.O) for allegedly blocking pro-Palestinian content on their platforms, its communications minister said on Thursday. Without elaborating, Fahmi said many parties had urged the government to take firm action against social media platforms for allegedly restricting pro-Palestinian content. Representatives of Tiktok and Meta did not immediately respond to requests for comment. The concerns come two weeks after Fahmi said TikTok had not complied fully with Malaysia's laws and had not done enough to curb defamatory or misleading content.

Persons: Dado Ruvic, Fahmi Fadzil, Fahmi, Meta, TikTok, Danial Azhar, Martin Petty Organizations: REUTERS, Tiktok, Thomson Locations: KUALA LUMPUR

☆ TikTok to take proactive steps to address issues in Malaysia
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

TikTok app logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsKUALA LUMPUR, Oct 13 (Reuters) - Short video app TikTok is committed to taking proactive measures to address issues raised by Malaysia, a spokesperson said, after its government said the app was not fully compliant with local laws. "TikTok respects local laws and regulations and is committed to taking proactive measures to address the issues raised," a spokesperson for the company said in an email on Thursday. TikTok has organised meetings with Malaysia's communications regulator next week to demonstrate its commitment, the spokesperson added. In a social media message posted after meeting TikTok representatives, Fahmi said TikTok also should address issues related to content distribution and advertising purchases following complaints from businesses, the public and media agencies.

Persons: Dado Ruvic, TikTok, Fahmi Fadzil, Fahmi, Danial Azhar, Martin Petty, Gerry Doyle Organizations: REUTERS, Facebook, Thomson Locations: KUALA LUMPUR, Malaysia, Southeast Asia

☆ Malaysia says TikTok fails to fully comply with local laws
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

Printed TikTok logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsKUALA LUMPUR, Oct 12 (Reuters) - TikTok has not done enough to curb defamatory or misleading content in Malaysia, the communications minister said on Thursday, adding that the short video application had also failed to comply with several, unspecified local laws. In a social media message posted after meeting TikTok representatives, Minister Fahmi Fadzil said TikTok also had to address issues related to content distribution and advertising purchases following complaints. He said TikTok had assured him it would cooperate with the government and that its shortcomings were due to not having a representative in Malaysia at present. A spokesperson for TikTok did not immediately respond to a request for comment about the meeting or the minister's remarks.

Persons: Dado Ruvic, Fahmi Fadzil, TikTok, Fahmi, Anwar Ibrahim's, Danial Azhar, Miral Organizations: REUTERS, Malaysian, Facebook, Meta, Communications, Multimedia, Thomson Locations: KUALA LUMPUR, Malaysia, Southeast Asia, Vietnam

☆ Indonesia bans e-commerce transactions on social media in major blow to TikTok
▼ + stars: | 2023-09-27 | by ( ) edition.cnn.com time to read: +3 min

Jakarta Reuters —Indonesia has banned e-commerce transactions on social media platforms, the trade minister said on Wednesday, in a blow to short video app TikTok, which is doubling down on Southeast Asia’s biggest economy to boost its e-commerce business. TikTok, owned by China’s ByteDance, has 125 million active monthly users in Indonesia and has been looking to translate the large user base into a major e-commerce revenue source. He warned of letting social media become an e-commerce platform, shop and bank all at the same time. Indonesia Deputy Trade Minister Jerry Sambuaga earlier this month named TikTok’s live streaming features as an example of people selling goods on social media. E-commerce transactions in Indonesia amounted to nearly $52 billion last year and of that, 5% took place on TikTok, according to data from consultancy Momentum Works.

Persons: TikTok, China’s ByteDance, “, Zulkifli Hasan, Zulkifli, Jerry Sambuaga, Sea’s Shopee, Fahmi, ” Organizations: Jakarta Reuters —, Indonesia Trade, Wednesday, Reuters, Indonesia Deputy Trade, Research, BMI, Momentum Works Locations: Jakarta, Jakarta Reuters — Indonesia, Southeast Asia, Indonesia, Shop, TikTok, Europe, United States

[1/4] Bening Widayati, 40, sells clothes live on a social media platform inside her stall at the International Trade Center (ITC) mall in Jakarta, Indonesia, September 27, 2023. The government said the move, which takes effect immediately, is aimed at protecting offline merchants and marketplaces, adding that predatory pricing on social media platforms is threatening small and medium-sized enterprises. The move comes just three months after TikTok pledged to invest billion of dollars in Southeast Asia, mainly in Indonesia, over the next few years in a major push to build its e-commerce platform TikTok Shop. He warned of letting social media become an e-commerce platform, shop, and bank all at the same time. Indonesia Deputy Trade Minister Jerry Sambuaga earlier this month named TikTok's live streaming features as an example of people selling goods on social media.

Persons: Widayati, Willy Kurniawan, TikTok, China's ByteDance, Zulkifli Hasan, Zulkifli, Jerry Sambuaga, Fahmi, Edri, Dewi Kurniawati, Stefanno Sulaiman, Fransiska Nangoy, Stanley Widianto, Johan Purnomo, Kanupriya Kapoor, Alexandra Hudson, Miyoung Kim, Mark Porter Organizations: International Trade Center, REUTERS, Indonesia Trade, Wednesday, Reuters, Indonesia Deputy Trade, Research, BMI, HK, Lazada, Momentum Works, Thomson Locations: Jakarta, Indonesia, Southeast Asia, JAKARTA, Shop, TikTok, Europe, United States

Malaysia's opposition bloc includes Islamist party PAS, which promotes a strict interpretation of sharia law and opposes LGBTQ rights. Another PAS leader urged the government to cancel a concert by Coldplay because the band supports queer rights. DISCRIMINATION, THREATSAnwar vowed this year that Malaysia would never recognise LGBTQ rights. His government has banned books for "promoting the LGBT lifestyle", detained demonstrators expressing support for queer rights and confiscated Pride-themed watches made by Swiss watchmaker Swatch. Asked about the government's position on LGBTQ rights, government spokesperson and communications minister Fahmi Fadzil told Reuters: "Whatever the prime minister has said is the position."

Persons: Carmen Rose, Hasnoor Hussain, Rose, Anwar Ibrahim's, Anwar, Anwar doesn't, James Chin, Rezki Rohaizad, Malaysia's, Fahmi Fadzil, Thilaga Sulathireh, Sulathireh, I'm, Rozanna Latiff, Miral Organizations: REUTERS, PAS, Coldplay, University of Tasmania, Swatch, Reuters, Sisters, Thomson Locations: Malaysian, Singapore, Petaling Jaya, Malaysia, KUALA LUMPUR, Australia, Swiss

☆ Malaysia reverses plan to take legal action against Meta over harmful content
▼ + stars: | 2023-07-28 | by ( Rozanna Latiff | ) www.reuters.com time to read: +3 min

KUALA LUMPUR, July 28 (Reuters) - Malaysia may not go through with a plan to take legal action against Facebook parent Meta Platforms (META.O) following "positive" engagement with the firm on tackling harmful content on the social media platform, communications minister Fahmi Fadzil said in an interview on Friday. "I don't think MCMC needs at this point in time to initiate any legal action. I think this level of cooperation is very positive," he said, adding that the government was considering measures such as fines against social media platforms if they failed to tackle harmful content. Facebook is Malaysia's biggest social media platform, with an estimated 60% of the country's 33 million people having a registered account. The take-downs, he said, were likely to have been made in response to complaints made by ordinary users for violating social media guidelines.

Persons: Fahmi Fadzil, Fahmi, Meta, Anwar Ibrahim's, Rozanna Latiff, Angus MacSwan Organizations: Facebook, Malaysian Communications and Multimedia Commission, Meta, Malaysian, Digital Nasional Berhad, Thomson Locations: KUALA LUMPUR, Malaysia, Malay

☆ Malaysia halts music festival after same-sex kiss by UK band The 1975
▼ + stars: | 2023-07-22 | by ( Rozanna Latiff | ) www.reuters.com time to read: +4 min

The 1975 have also been banned from performing in Malaysia, said a government committee that oversees filming and performances by foreigners. "I don't see the fucking point ... of inviting The 1975 to a country and then telling us who we can have sex with." Festival organiser Future Sound Asia apologised for the cancellation of the show following Healy's "controversial conduct and remarks". Communications Minister Fahmi said Malaysia was committed to supporting the development of creative industries and freedom of expression. The Jakarta festival's organisers did not immediately respond to requests for comment on whether the band would play.

Persons: disparages, Fahmi Fadzil, Healy, Ross MacDonald, we've, Regrettably, Fahmi, Matt Healy, Carmen Rose, Anwar Ibrahim's, Rozanna Latiff, Bernadette Christina, William Mallard, Robert Birsel Organizations: Communications, Rights, United Arab Emirates, Sound, Twitter, Malay, Thomson Locations: KUALA LUMPUR, Kuala Lumpur, Malaysia, Malaysian, Jakarta, Indonesia

☆ Malaysia issues license to Musk's Starlink to bring internet services to remote areas
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, July 20 (Reuters) - Malaysia has issued a license to Starlink, the satellite communications service started by Elon Musk, to provide internet services in the country, particularly in remote areas, its communications minister said on Thursday. Minister Fahmi Fadzil said in a Facebook post that Starlink, which is operated by Musk's SpaceX, would begin by providing its services to schools and higher education institutions. The government was also prepared to work with satellite communications firms, including Starlink, to ensure 100 percent internet coverage in populated areas, Fahmi said. Around three percent of populated areas in Malaysia face issues with internet access, due to geographical and infrastructure challenges, he added. The government earlier this year announced that his electric vehicle (EV) maker Tesla (TSLA.O) would open an office in Malaysia.

Persons: Elon Musk, Fahmi Fadzil, Fahmi, Anwar Ibrahim, Tesla, Rozanna Latiff, Hasnoor Hussain, Kanupriya Kapoor Organizations: Elon, Musk's SpaceX, Malaysian, Thomson Locations: KUALA LUMPUR, Malaysia, Kuala Lumpur

Malaysia has now decided to allow a second entity after DNB's coverage reaches 80% of populated areas, Communications Minister Fahmi Fadzil said in a statement. The government's announcement confirmed a report by Reuters last month on a plan to introduce a second 5G network from January 2024. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. It has said a single network would reduce costs, improve efficiency and accelerate the building of infrastructure. It was not clear how the proposal for a second 5G network would affect DNB's existing agreements with its development partner, Swedish telecoms giant Ericsson (ERICb.ST), and other mobile operators.

KUALA LUMPUR/SINGAPORE, April 16 (Reuters) - Malaysia plans to introduce a second 5G network from next year, four sources told Reuters, in the latest policy shake-up aimed at dismantling monopolies and promoting competition by Prime Minister Anwar Ibrahim's six-month-old administration. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. Fahmi also said last week 5G network coverage had reached 55% in populated areas. It was not clear how the proposal for a second 5G network would affect DNB's existing agreements with its development partner Swedish telecoms giant Ericsson (ERICb.ST), and other mobile operators. U Mobile later joined other telco firms in signing up to access DNB's 5G network.

☆ Cross-border fire in Gaza after Israeli police raid Al-Aqsa mosque
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: +2 min

Israeli police entered Jerusalem's Al-Aqsa mosque compound before dawn on Wednesday and clashed with worshippers, in what police said was a response to rioting that set off a furious reaction across the West Bank and cross border strikes in Gaza. Witnesses said Israeli tanks also shelled Hamas positions along the border fence in the southern part of the Gaza strip. Israeli police walk inside the Al-Aqsa mosque compound in Jerusalem, early on April 5, 2023 after clashes erupted during Islam's holy month of Ramadan. Ahmad Gharabli | Afp | Getty ImagesThe Palestinian Red Crescent said 12 Palestinians sustained wounds from rubber-tipped bullets and beatings in clashes with Israeli police. Videos circulating on social media, which Reuters could not immediately verify, showed fireworks going off and police beating people inside the mosque.

☆ Factbox: Crisis-hit Pakistan's macro economic indicators
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

Below are four key economic indicators of the cash-strapped country. FOREX RESERVESPakistan's foreign exchange reserves have fallen to the lowest level in 10 years and cover only three weeks' worth of imports. In the week ending Jan. 27, the central bank's foreign currency reserves shrank to $3.09 billion, down $592 million from previous week. The bank has raised the key rate by a total 725 bps since January 2022. PAKISTANI RUPEEThe rupee reached a record low of 276.58 to the dollar in the inter-bank market on Feb. 3.

☆ Liban: Indignare pe reţelele sociale după ce un ministru le-a sugerat femeilor să mai şi gătească
▼ + stars: | 2020-11-16 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +3 min

Ministrul de interne din Liban a provocat indignare pe reţelele sociale după ce a sugerat că femeile ar trebui să mai şi gătească, pentru a contrabalansa interzicerea livrărilor la domiciliu duminică, impusă din cauza coronavirusului. Libanul a intrat sâmbătă într-un nou lockdown de două săptămâni pentru a lupta împotriva unei creşteri îngrijorătoare a cazurilor raportate de contaminare cu noul coronavirus. "Să mai gătească şi femeile", a replicat ministrul Mohammed Fahmi unei ziariste care l-a întrebat vineri în legătură cu această interdicţie. Reacţiile nu au întârziat să apară, în special pe internet, unde a început să circule un nou slogan, #"Duminica_nu_gătesc". Şi bărbaţii s-au alăturat valului de critici, publicând pe reţelele sociale imagini cu ei la cratiţă, cu hashtagul #Fahmi_challenge.

Persons: Mohammed, Carmen Geha, bărbaţii Organizations: Libanul, Facebook Locations: Liban, Franţa, Libanul, Beirut

Search resuls for: "Fahmi"

19 mentions found