09/02/2026

BIZ & FINANCE MONDAY | FEB 9, 2026

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China’s wedding dress sellers pin hopes on more marriages

a separate joint statement released on Friday by the White House. The statement added that India intends to purchase US$500 billion of American energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years. The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50% late last year. Washington and New Delhi are expected to sign a formal trade deal in March. – AFP Crypto firm accidentally sends US$40b in bitcoin to users SEOUL: A South Korean cryptocurrency exchange apologised on Saturday after mistakenly transferring more than US$40 billion (RM158 billion) worth of bitcoin to users, which briefly prompted a selloff on the platform. Bithumb said it accidentally sent 620,000 bitcoins, currently worth more than US$40 billion, and blocked trading and withdrawals for the 695 affected users within 35 minutes after the error occurred on Friday. According to local reports, Bithumb was meant to send about 2,000 won (RM5.40) to each customer as part of a promotion, but mistakenly transferred roughly 2,000 bitcoins per user. “We sincerely apologise for the inconvenience caused to our customers due to the confusion that occurred during the distribution process of this (promotional) event,” Bithumb said in a statement. The platform said it had recovered 99.7% of the mistakenly sent bitcoins, and that it would use its own assets to fully cover the amount that was lost in the incident. It admitted the error briefly caused “sharp volatility” in bitcoin prices on the platform as some recipients sold the tokens, adding that it brought the situation under control within five minutes. Its charts showed the token’s prices briefly went down 17% to 81.1 million won on the platform late on Friday. In a separate statement released later on Saturday, Bithumb said some trades were executed at unfavourable prices for users due to a price drop during the incident Friday, including “panic selling”. The platform said it would compensate affected customers, covering the full price difference as well as a 10% bonus. It estimated losses at about one billion won. The platform earlier stressed that the incident was “unrelated to external hacking or security breaches”. Bitcoin, the world’s biggest cryptocurrency, sank last week, wiping out gains sparked by US President Donald Trump’s presidential election victory in November 2024. – AFP

country’s birth rate hit a record low last year and its total population fell for the fourth straight year. Marriage rates rose 8.5% for the first nine months of 2025, according to Ministry of Civil Affairs data earlier this month, buoyed by policy changes and favourable cultural factors. That increases the likelihood that overall marriage numbers in 2025 will halt a downtrend in annual nuptials that has gone almost uninterrupted for more than a decade. Chen Juan, the co-owner of Luoyi Bridal, where dresses are priced from 1,000 yuan (RM566) to around 4,000 yuan for more ornate styles, said marriage rates dropped significantly in 2024 as it was

considered an inauspicious year to tie the knot, with many couples delaying weddings to 2025. The sprawling Huqiu Bridal City is home to more than 800 stores filled with frothy white taffeta, silk and lace dresses. A nationwide policy change in May 2025, allowing couples to marry anywhere in China rather than in their place of residence, also contributed to the rebound, Chen and other vendors said. In response, local governments scrambled to attract a new wave of marriage tourists, setting up registration offices around scenic spots, at music festivals – and even in subway stations, shopping malls and parks. Chen expects growth to continue

due to this year’s favourable zodiac, Year of the Horse, which is considered a time of success. However, Chen emphasised the need for further government incentives to make even more of a difference. “If the government can introduce some relevant incentive policies, this would be very good, because young people’s attitudes (to marriage) have changed,” she said. A declining interest in marriage and family among young Chinese is widely blamed on the high cost of childcare and education. Some cities and regions have introduced cash vouchers for newlyweds to help convince citizens to tie the knot. Zhu Jiaomei, 31, who sells made-to-measure gowns at the market, said the overall economy plays an even more important role than specific wedding-related policies in people’s willingness to marry, and the price they are willing to spend when they say ‘Yes’ to the dress. “The most important thing is that the economy improves, and everyone has confidence in the future. Now, jobs are less stable, so people are tightening their belts,” she said, adding that budgets are commonly half of those seen before the Covid-19 pandemic. For 48-year-old wedding shoe seller Cheng Yonggui, the prospect of more marriages in the future holds personal significance. With two sons approaching marriageable age, Cheng said she and her husband are “very anxious” about the prospect of their boys attracting a bride in a country where men heavily outnumber women due to a traditional cultural preference for male children. In China, it is customary for parents of the groom to help their sons pay for an apartment and car, as well as a kind of dowry in some cases, before any marriage. Cheng estimates this will cost her and her husband “at least a million” yuan per son. “For us, the pressure is immense, but we’re trying our best,” she said. “I hope more and more people get married, I hope our business gets better and better, and I hope our children live happier and happier lives.” – Reuters

SUZHOU: Wedding vendors at Huqiu Bridal City in Suzhou, one of China’s largest wedding dress markets, are hopeful the country’s positive marriage trends will continue this year. The rise in marriages in the first nine months of 2025 is a bright spot in China’s otherwise grim population landscape. Official data showed the lifted by policy changes and auspicious timing o Rates up 8.5% in first nine months of 2025,

Zhu inspects a gown’s fabric at Huqiu Bridal City in Suzhou. – REUTERSPIC

Modi lauds interim trade pact after US tariff rollback NEW DELHI: Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries. over India’s oil purchases – which Washington says fund a conflict it is trying to end – and restores the close ties between Trump and the man he describes as “one of my greatest friends”. opportunities for Indian farmers, entrepreneurs and fishermen under the “Make in India” initiative. In a separate statement,

scrapping an additional 25% levy imposed over New Delhi’s purchases of Russian oil, in a step to implement the trade deal announced this week. Modi, who has faced criticism at home about opening access of Indian agricultural markets to the United States and terms on oil imports, did not mention Russian oil in his statement. “This framework will also strengthen resilient and trusted supply chains and contribute to global growth,” he said. It would also create fresh

Commerce Minister Piyush Goyal said the pact would “open a US$30 trillion (RM118 trillion) market for Indian exporters”. Goyal also said the deal protects India’s sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry and milk. Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to

The pact cuts US “reciprocal” duties on Indian products to 18% from 25%, and commits India to large purchases of US energy and industrial goods. US President Donald Trump, while announcing the deal on Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine. The deal eases months of tensions

“Great news for India and USA!” Modi said on X on Saturday, praising Trump’s “personal commitment” to strengthening bilateral ties. The agreement, he said, reflected “the growing depth, trust and dynamism” of their partnership. Modi’s remarks came hours after Trump issued an executive order