Android phone manufacturers and Qualcomm are creating a satellite messaging function.

On Monday, Qualcomm Inc. announced that it was collaborating with a number of manufacturers of Android smartphones to give their products satellite-based messaging features.

The San Diego, California-based firm, which is the largest provider of semiconductors for tethering mobile phones to wireless data networks, announced that it is collaborating on the creation of the handsets with Honor, Motorola, Nothing, OPPO, Vivo, and Xiaomi Corp.

In isolated or rural areas without alternative telecommunications networks, satellite-based communications can send and receive data. Earlier this year, Qualcomm made an announcement about adding functionality to its chips.

The competition between Android device manufacturers and Apple Inc., which last year revealed the capability to transmit emergency satellite communications as one of the main features of its newest iPhone lineup, is likely to increase as a result of Qualcomm's collaboration with those companies. Although Apple informed Reuters that they also have proprietary hardware and software, the latest iPhones do include a Qualcomm chip.

The new satellite messaging services from the Android smartphone vendors mentioned on Monday have not yet been made public, according to Qualcomm. Some Android phones would have the functionality by the second part of this year, Qualcomm said earlier this year.

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The Higher Education Ministry provides medications for earthquake victims in Syria and Turkey

The Higher Education Ministry donated medicinal supplies worth RM122,223.11 to earthquake victims in Syria and Turkey through its seven university teaching hospitals.

University Malaya Medical Centre (UMMC), Hospital Universiti Sains Malaysia (HUSM), Hospital Canselor Tuanku Muhriz (HCTM), Universiti Kebangsaan (UKM), Sultan Ahmad Shah Medical Centre (SASMEC), International Islamic University of Malaysia, Al-Sultan Abdullah Hospital Universiti Teknologi Mara, UKM Children's Specialist Hospital, and Universiti Putra Malaysia Teaching Hospital are the hospitals involved.

According to a statement released by the ministry on Monday (Feb. 20), the donation was made in response to a list of 112 different types of medicine that the Turkiye government requested through the Medical Relief Organization Malaysia (Mercy Malaysia).

Also, it organized attempts to recruit volunteers from teaching hospitals, where 232 non-medical and 94 medical volunteers have offered to participate in humanitarian missions in Turkey and Syria.

A 7.8 on the Richter scale earthquake struck southern Turkey and Syria on February 6. According to reports, the catastrophe claimed the lives of more than 41,000 individuals. The Bernama

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Bayers profits increase in 2022 due to higher herbicide prices.

German chemical firm Bayer announced today that rising prices and strong demand for its glyphosate-based weedkillers contributed to its quadrupling of net profit in 2022.

But, the Leverkusen-based company issued a warning that it anticipated prices to decline once further, which would result in lower profitability in 2023.

In 2022, net profit increased from 1.0 billion to 4.15 billion euros (US$4.3 billion), according to a statement from Bayer.

Sales for the group increased by 8.7% to 50.7 billion euros, in line with expert predictions.

Notwithstanding the difficult environment, Bayer had a very good year in 2022, according to outgoing CEO Werner Baumann.

Record revenues in the company's agricultural segment, increasing more than 15% annually to 25 billion euros, helped the results.

In a period when "supply for glyphosate-based products was restricted," Bayer claimed that this was "in particular thanks to higher costs" for herbicides across all areas.

Nevertheless, Bayer added, those prices are probably going to drop this year as supply chain restrictions loosen.

But sales in the group's pharmaceuticals division only increased by 1% in 2022.

The firm is under pressure to introduce new products to make up for the patents on several successful drugs expiring in the upcoming years.

In Brazil, the patent on the most popular blood thinner, Xarelto, has already expired. The patent on the eye medication Eylea is also about to expire.

Sales of over-the-counter medications, which are sold by the group's consumer health division, increased by 8.4% as a result of the high demand for allergy and cold medications.

In 2023, group sales are expected to increase by a meager "two to three percent," according to Baumann, as the company prepares for dropping pricing for several pharmaceuticals and herbicides.

Pre-tax earnings (EBITDA), down from 13.5 billion in 2022, are anticipated to be between 12.5 and 13.0 billion euros by Bayer.

New CEO

Following demands for a change in strategy at the German company from activist investors, Baumann will be replaced starting in June by former Roche CEO Bill Anderson.

The company will be divided into an agricultural and a pharmaceutical group by the new investors, which include Bluebird Capital Partners.

A separate Bayer pharmaceutical company, according to some analysts, may be a target for acquisition, making the proposition contentious.

During his tenure, Baumann handled the contentious $63 billion acquisition of American company Monsanto in 2018.

Bayer took up Monsanto's legal problems over its glyphosate-containing Roundup weedkiller.

Since then, Bayer has been the target of a flurry of litigation in the US over allegations that Roundup causes cancer, which the company disputes.

The legal battle has cost Bayer tens of billions of euros and severely impacted its stock price.

Around midday in Frankfurt, shares of Bayer were trading roughly 4% lower at 56.20 euros. — AFP

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Asian currencies drop due to concerns about rate hikes, and stocks are down.

On Tuesday, ASIAN currencies and stocks were mixed as concerns about potential future interest rate increases by the U.S. Federal Reserve lingered, and the Thai baht was expected to have its worst month in 23 years.

The Philippine peso increased by 0.6%, but it was about to end a winning streak of four months. Malaysia's ringgit decreased 0.2%, while the Indonesian rupiah increased 0.2%.

The baht lost 0.5% of its value. The currency's decline in February was 6.4%, the largest monthly decline since September 1999.

The Bank of Thailand estimates that the economy of the nation would expand by 3% to 4% this year, and that inflation, which is presently at 5.02%, will drop to within the 1% to 3% range that the central bank had set as its target range in the second half of 2023.

The world's largest economy continues to remain strong, and recent positive economic data from the United States has increased hopes that the Fed would raise interest rates more aggressively.

The Fed will likely raise rates a third time this year by 25 basis points, and the market now anticipates a 5.4% peak in rates by September.

According to Michael Loh, Asia FX strategist at BNP Paribas, "U.S. inflation is proving to be stickier than projected, in contrast to many Asian nations where inflationary supply shocks from energy and food have passed."

"As a result, this is causing monetary policy divergence both within the area and in comparison to the United States."

Since January, most central banks in Southeast Asia have scaled back their tightening of monetary and financial conditions. The Bank of Thailand has hinted at future gradual tightening while the central bank of Malaysia surprisingly took a break.

The dollar index, which compares the value of the dollar to six other currencies, increased by 0.2% to 104.81 and is now aiming for its first monthly gain of more than 2.5% since September.

OCBC analysts maintained their belief that the upside for the dollar may be constrained as Fed tightening enters its late cycle, even though the U.S. dollar may be supported for the time being as markets re-price a higher top.

Stocks in Manila rose 0.7% to lead gains among the regional equities markets. While stocks in Jakarta and shares in Kuala Lumpur both down 0.1%, Singapore's benchmark index increased by 0.4%.

Summary:

Thailand's manufacturing production index fell by 4.35% less than anticipated in January compared to a year earlier as exports were negatively impacted by the global recession.

** Markets anticipate India's Q3 GDP numbers for fiscal year 2022–2023, which are expected to increase by 4.6% year over year from the previous quarter's 6.3%.

The possibility of a quick revision to ultra-loose monetary policy was dismissed by newly appointed Bank of Japan deputy governor Shinichi Uchida, according to Reuters.

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BCorp anticipates a positive result in FY23.

Berjaya Corp Bhd (BCorp) is confident that its performance will be sufficient for the remaining quarters of the fiscal year ending June 30, 2023, notwithstanding the rising operational costs (FY23).

"Although the post-pandemic recovery of the global and domestic economies is gaining traction, the recent increase in global inflationary rates due to the reduction of commodity supplies and supply chain disruption as a result of the Russia-Ukraine war, Covid-19 lockdowns in China, and geopolitical tensions has hampered the economic recovery.

The conglomerate stated in a statement that, "Taking into consideration the abovementioned and barring any unforeseen circumstances," the performance of the group's business operations for the remaining quarters of FY23 will likely be satisfactory despite the strain of rising operational costs moving forward.

In the second quarter that concluded on December 31, BCorp reported a net loss of RM24.8 million compared to a net profit of RM101 million from the sale of an affiliated company that was reported in the equivalent quarter the year before.

It reported a 0.44 sen loss per share during the quarter compared to 1.77 sen in earnings per share the year prior.

Nonetheless, revenue increased 13.6% from RM2.05 billion to RM2.33 billion.

With RM4.6bil in revenue for the first six months ending December 31, BCorp reported a net loss of RM41.2mil.

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