E-government services providers MyEG Services Bhd and Heitech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.

According to separate bourse filings from both companies on Tuesday, MyEG and Heitech Padu have inked a teaming agreement for the collaboration.

MyEG, Heitech Padu form partnership to collaborate on IT projects

Mark Zuckerberg won his bid to avoid personal liability in about two dozen lawsuits accusing Meta Platforms Inc and other social media companies of addicting children to their products.

Zuckerberg avoids personal liability in Meta addiction suits

The Biden administration will award up to US$6.4 billion (RM30.6 billion) in grants to South Korea's Samsung to expand its chip production in central Texas as part of a broader effort to boost US chipmaking, the Department of Commerce said on Monday.

US awards Samsung US$6.4b in grants to boost Texas chip output

Shares of Donald Trump's social media company slumped 18% on Monday, extending losses since the stock's debut last month, after the company said it could sell millions of shares in coming months, including the former president's entire stake.

Trump Media shares tank after filing shows more stock may be sold

Tesla will lay off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles.

The world's largest automaker by market value had 140,473 employees globally as of December 2023, its latest annual report shows. The memo did not say how many jobs would be affected.

Tesla to lay off more than 10% of staff globally as sales fall

Adobe on Monday said it is in the early stages of allowing the use of third-party generative artificial intelligence (AI) tools from OpenAI and others inside of its widely used video editing software.

Adobe explores OpenAI partnership as it adds AI video tools

BP has cut over a tenth of the workforce in its electric vehicle (EV) charging business and pulled it out of several markets after a bet on rapid growth in commercial EV fleets didn't pay off, company sources said.

The changes at BP Pulse are part of chief executive officer Murray Auchincloss's efforts to focus on the British company's most profitable segments as it battles investor doubts over its plan to shift away from oil and gas to low-carbon energy.

BP's EV charging arm cuts jobs, reduces global ambitions

JPMorgan and Morgan Stanley started coverage of Reddit with equivalent to 'hold' ratings, as they waited for clarity of the social media company's user growth, while staying bullish on ad revenue growth and artificial intelligence (AI) initiatives.

Wall Street brokerages start Reddit coverage with scepticism about user growth

HeiTech Padu Bhd said it had bagged a RM190.01 million contract to provide maintenance and technical support services for the Road Transport Department's (JPJ) information and communications technology infrastructure and MySIKAP (driver and vehicle information) system.

HeiTech Padu bags RM190m system maintenance contract from JPJ

Meta Platforms Inc wants to bring its virtual reality headset into classrooms.

Students as young as 13 years old could take a trip to ancient Rome or tour the Metropolitan Museum of Art from a classroom in the Midwest, according to the parent company of Facebook and Instagram, as it prepares to launch its new educational product. The push comes as Meta and other social media platforms face congressional scrutiny over the lack of protections for kids online.

Meta wants to bring students as young as 13 into the metaverse

The Biden administration plans to award Samsung Electronics Co as much as US$6.4 billion (RM30.59 billion) in grants to increase chip production in Texas, as part of US efforts to bolster domestic semiconductor manufacturing.

Samsung to get up to US$6.4b in US grants for chip plants

Microsoft-backed artificial intelligence (AI) start-up OpenAI made a pitch for business in Japan on Monday, as it opened its first Asian office in Tokyo.

"This is just the first step in what I hope will be a long-term partnership with the people of Japan, government leaders, businesses and research institutions," OpenAI chief executive officer Sam Altman said in a video message.

OpenAI bids for Japan business as it opens Tokyo office

Apple Inc chief executive officer Tim Cook will announce the company is increasing its commitments to Vietnam by an unspecified amount during his visit to Hanoi.

Apple’s Cook to raise Vietnam commitment during Hanoi visit 

KUALA LUMPUR (April 15): The government is reaching out to the Malaysia Semiconductor Industry Association (MSIA) to improve the investment climate and ease of doing business, to lure global semiconductor companies to relocate to Malaysia.

Putrajaya keen on improving investment climate for local semicon sector — MSIA

Indonesia has had a good run in its 10 years under President Joko Widodo (Jokowi). The economy has withstood a series of challenges, including the Covid-19 pandemic, the worldwide inflation surge, the spike in global interest rates and the Ukraine crisis. Growth has been fairly steady and the rup...

My Say: Challenges for Indonesia’s president-elect Prabowo to overcome

Shares of EP Manufacturing Bhd (EPMB) climbed on Tuesday and set for its best day in ten months after the auto parts maker signed a 10-year vehicle assembly deal with a Chinese carmaker.

EP Manufacturing shares set for best day in ten months after assembly deal

Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.

PNB names Abdul Rahman Ahmad as president, group chief executive

China’s rapidly expanding petrochemicals industry is making life increasingly difficult for producers in Asia’s next-biggest exporter of the building blocks for making plastics.
 
Asia’s largest economy used to be the major market for South Korean companies like LG Chem Ltd and Lotte Chemical Corp. But the exporters of the chemicals used to make everything from nylon to disposable bottles and car interiors are now being forced to downsize their operations after a frenzy of petchem-plant building in China over the last few years created a supply glut.

China’s growing plastics dominance is squeezing out Asian rivals

Microsoft Corp will invest US$1.5 billion (RM7.19 billion) in the United Arab Emirates’ top artificial intelligence firm, G42, bolstering the Abu Dhabi-based company’s commitment to scale back its presence in China.

Microsoft invests US$1.5b in UAE’s G42, will get board seat

Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst.

Bursa ends morning session lower along with regional peers

CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.

CIMB says CEO Abdul Rahman Ahmad stepping down on June 30

[Branded] The palm oil industry, often vilified by Western lobbyists, has made great strides in the environmental, social, and corporate governance (ESG) arena. Malaysian Palm Oil Council (MPOC) chief executive officer Belvinder Kaur Sron explains how sustainability and palm oil are intertwined.For inquiries or to learn more about MPOC’s sustainability initiatives, visit https://www.mpoc.org.my/ or contact MPOC directly by calling 603-7806 4097 or emailing wbmaster@mpoc.org.my

Can sustainability and palm oil go hand in hand?

Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.

Muhyiddin seeks five-judge bench to hear criminal charges review

China's economy grew faster-than-expected in the first quarter, data showed on Tuesday, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt.

China's 1Q GDP growth solid but March data shows feeble demand

The collective wealth of tycoons listed on the 2024 Forbes Malaysia Rich List increased by a modest 2% to US$83.4 billion (RM398.8 billion), according to Forbes Asia.

Wealth of Malaysia’s 50 richest individuals on Forbes list rises 2% — Forbes Asia 

E-government services providers MyEG Services Bhd and Heitech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.

According to separate bourse filings from both companies on Tuesday, MyEG and Heitech Padu have inked a teaming agreement for the collaboration.&nbsp;

Asian stocks fell and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected US retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.

Asian shares slide on US rate cut rethink; China GDP beats estimates 

Alliance Bank Malaysia Bhd’s (ABMB) net profit is expected to jump by 37.3% year-on-year (y-o-y) to RM179 million for the fourth quarter ended March 31, 2024 (4QFY2024), according to AmInvestment Bank Research.

AmInvestment sees Alliance Bank’s 4Q earnings jump by 37% y-o-y

China said it believed Iran could "handle the situation well and spare the region further turmoil" while safeguarding its sovereignty and dignity, referring to an attack on Iran's embassy in Syria and its retaliatory strike over the weekend.

Iran able to 'handle situation' and spare Middle East more tension, China's foreign minister says

Singapore’s Prime Minister Lee Hsien Loong is stepping down on May 15 after two decades in office. Lee, 72, will hand the reins over to his deputy Lawrence Wong, 51, in a widely-telegraphed transition.

What observers are saying as Singapore’s Lee paves way for next PM Wong

The automotive industry is not exactly the place one would want to be in the next few years.

Competition among manufacturers of internal combustion engine vehicles, battery electric vehicles (EVs) and hybrid cars has been ongoing for more than a decade now. Last year, some certainty fin...

Alternative Views: Automotive industry feels heat from intensifying EV price war

RHB Retail Research said Cosmos Technology International Bhd has confirmed a bullish setup after breaking past a key resistance on strong volume.

Cosmos Technology has confirmed bullish setup, says RHB Retail Research 

CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.

Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market.

Carlo Rino files draft prospectus for listing transfer to ACE Market

KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement on Tuesday, the Sabah-based integrated property developer said the initial public offering (IPO) comprises a public issue of 160 million new shares and an offer for sale of 45 million existing shares, representing 20% and 5.6% of the enlarged share capital of KTI respectively.

KTI Landmark inks underwriting deal with M&A Securities en route to ACE Market listing

Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.

RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.

Notion VTec aiming to extend upside movement — RHB Retail Research 

There is "no urgency" to cut US interest rates, Mary Daly, the president of the San Francisco Federal Reserve Bank, said on Monday, with the economy and labour market strong, and inflation still above the Fed's target of 2%.

US Fed should not act urgently to cut rates unless required, Daly says

Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;

The recent attack by Iran on Israel represents a dangerous expansion of the Israel–Hamas war and raises the risk of a sharp escalation of the conflict, according to S&amp;P Global Ratings.

S&P: Medium-term trajectory remains fraught with risk after recent attack by Iran on Israel

The ringgit opened lower against the US dollar for the second consecutive day on Tuesday as the greenback strengthened following robust US retail sales data for March, said an analyst.

Ringgit opens lower against dollar on strong US retail sales data 

Bursa Malaysia opened lower on Tuesday, taking a cue from the negative developments on Wall Street overnight due to escalating tensions in the Middle East, coupled with persistent inflation in the US as indicated by stronger-than-expected March retail sales.

Bursa tracks weaker Wall Street showing to open lower 

US stocks closed sharply lower on Monday, as an early lift from a strong retail sales report succumbed to a jump in Treasury yields and concerns about rising geopolitical tensions between Iran and Israel.

Stocks close lower as Middle East tensions, Treasury yields weigh

Mark Zuckerberg won his bid to avoid personal liability in about two dozen lawsuits accusing Meta Platforms Inc and other social media companies of addicting children to their products.

Tech

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