Afternoon News Update | March 6, 2025

Here are the latest updates from the world of finance, business, and technology this afternoon:

🏦 CIMB’s Six-Year Plan to Cut Funding Costs

CIMB Group has introduced its Forward30 strategy, aiming to reduce funding costs by 10-20 basis points by 2030. The plan focuses on capital optimization, deposit growth, and service enhancements to strengthen the bank’s position in the regional market.

📉 O&G Stocks Gain Attention Amid Market Volatility

Despite the Energy Index hitting a two-year low, analysts believe oil and gas stocks remain attractive for investors. Companies with strong earnings and dividends, such as Dayang Enterprise and Keyfield International, continue to show growth potential.

🖥️ China Expands AI Chip Production Despite US Trade Restrictions

China is doubling down on AI chip production, aiming to reduce reliance on foreign technology despite ongoing US restrictions. The country’s increased investment in semiconductor manufacturing signals a push for self-sufficiency in the global tech industry.

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