China, Malaysia's largest trading partner for the past 15 years, is a vital partner in the development of telecommunications and the digital economy in Malaysia.

Deputy Communications Minister Teo Nie Ching said Malaysia and China had complementary strengths in telecommunications and the digital economy, allowing both sides to collaborate and create new opportunities for businesses and consumers.

China vital partner in development of telecommunications, digital economy, says Teo

ByteDance Ltd has overtaken Baidu Inc in the race to deliver China’s answer to ChatGPT — at least in terms of popularity.

TikTok parent ByteDance now has China’s most popular AI chatbot

Indonesia's coordinating minister of investment said that Elon Musk will consider an offer to build an electric vehicle battery plant in the country, after the CEO of Tesla met with President Joko Widodo on Monday.

Musk considering offer to build EV battery plant in Indonesia, says minister

Elon Musk and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX's satellite internet service for the nation's health sector on Sunday, aiming to improve access in remote parts of the sprawling archipelago.

Musk, Indonesian health minister, launch Starlink for health sector

A US company has become the world’s most valuable solar manufacturer for the first time since 2018, as Chinese rivals suffer from a profit-slashing price war and an onslaught of trade barriers erected by Washington.

US company becomes world’s most valuable solar firm after Chinese rivals slip

The US Justice Department and TikTok on Friday asked a US appeals court to set a fast-track schedule to consider the legal challenges to a new law requiring Chinese-based ByteDance to divest TikTok's US assets by Jan 19 or face a ban.

US, TikTok seek fast-track schedule, ruling by Dec 6 on potential ban

A total of 7,065 5G sites have been completely developed throughout the country as of April this year, Communications Minister Fahmi Fadzil said.

5G sites number over 7,000 nationwide as of April, says Fahmi

The European Commission could fine Microsoft if it doesn't provide adequate information on risks stemming from generative AI features in search engine Bing by May 27.

EU demands clarity from Microsoft on AI risks in Bing

PIE Industrial Bhd's net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 31.24% to RM9.7 million, from RM14.11 million a year earlier, due to reduced demand caused by shortages of major integrated circuits.

PIE Industrial posts 31% drop in 1Q earnings as integrated circuit shortages hit demand

Shanghai has compiled a list of data that can be transferred overseas without security assessments, according to a government document seen by Reuters, a much anticipated move as China tries to lure foreign investment to boost a sluggish economy.

Shanghai eases data-export curbs sought by Tesla, other firms, document shows

Tesla is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shift by Elon Musk, according to people with knowledge of the work.

Musk pushes plan for China data to power Tesla's AI ambitions

Reddit Inc forged a partnership with OpenAI that will bring its content to the ChatGPT chatbot and other products, while also helping the social media company add new artificial intelligence (AI) features to its forums.

Reddit forges pact with OpenAI to bring content to ChatGPT

Applied Materials Inc, the largest US maker of chipmaking machinery, failed to impress investors with its latest forecast following a rally in the shares this year.

Applied Materials forecast fails to impress following rally

SAN FRANCISCO (May 16): Microsoft said on Thursday that it plans to offer its cloud computing customers a platform of AMD artificial intelligence chips that will compete with components made by Nvidia, with details to be given at its Build developer conference next week.

Microsoft offers cloud customers AMD alternative to Nvidia AI processors

LONDON (May 19): Last week was a bad one for the world order. Russia made new military advances in Ukraine, and the United States slapped punitive tariffs on Chinese imports. None of that spooked stock market indices, which reached record highs on both sides of the Atlantic.

...

Pricey stocks overlook the world’s troubles

Pertama Digital Bhd (KL:PERTAMA) said it had been allowed to continue operating the digital court bail payment system known as e-Jamin by the government.

Pertama Digital to continue operating e-Jamin with approval of Prime Minister's Department

China's agriculture minister, under investigation by Beijing's graft watchdog for potential corruption, has been removed from the leadership roster on the ministry's website, a change analysts said could delay China's food security plans.

Tang Renjian, 61, was placed under investigation for "serious violations of discipline and law" by the Central Commission for Discipline Inspection (CCDI) and National Supervisory Commission, according to an official statement on Saturday. The phrase is CCDI's typical euphemism for corruption.

China's agriculture chief stripped from ministry's leadership roster amid investigation

The ongoing re-evaluation of all holdings or assets by several local authorities (PBT) in Selangor is not indicative of a tax increase, said Menteri Besar Datuk Seri Amirudin Shari.

No tax increase, Selangor MB says, as re-evaluation of holdings, assets by local authorities is 'standard procedure'

AstraZeneca plc plans to build a US$1.5 billion (RM7.03 billion) manufacturing facility in Singapore to make antibody-drug conjugates as the UK drugmaker pushes to beef up its ability to produce the next-generation cancer treatments.

AstraZeneca to build US$1.5 bil drug plant in Singapore

Gold prices hit an all-time high on Monday, as a slowing US inflation trend boosted expectations the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak.

Spot gold rose 1% to US$2,438.44 per ounce, as of 0811 GMT, after hitting a record high of US$2,449.89 earlier in the session. US gold futures GCcv1 rose 1.1% to US$2,442.60.

Gold hits record peak as rate-cut bets burnish appeal, silver jumps

Malaysia's air passenger traffic was 19.5% higher in April from a year earlier, and increased 8% from March, largely propelled by domestic travel, particularly during the Hari Raya Aidilfitri period.

Malaysia's air passenger traffic up 19.5% to 7.9 million in April, says Mavcom

Iran's three branches of government held an extraordinary meeting on Monday, with First Vice President Mohammad Mokhber representing the executive branch following the death of President Ebrahim Raisi in a helicopter crash, state TV said.

Three branches of Iranian government hold 'extraordinary meeting' after president's death

Japan's large manufacturers saw exchange rate stability as the biggest factor they wanted out of the central bank's monetary policy, a Bank of Japan (BOJ) survey showed on Monday.

Japan's manufacturers want BOJ to keep yen stable, survey shows

For an idea of what private equity ownership can mean for ordinary people, UK supermarkets are a good place to start. Both Wm Morrison Supermarkets Ltd and Asda have been laboring lately under giant debt burdens put on their shoulders by the financiers who bought them in 2021.

Private equity’s massive UK debt binge sparks warnings of danger

Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banking group by assets, said on Monday its net profit slipped 3.5% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly due to higher personnel costs and higher provisions.

Public Bank's 1Q net profit slips 3.5% on higher costs, provisions

Iran's President Ebrahim Raisi was killed in a helicopter crash, an Iranian official and Mehr news agency reported on Monday. Below is a brief outline of what Iran's constitution says happens when a president is incapacitated or dies in office:

What happens in Iran when a president dies in office?

Iranian President Ebrahim Raisi, a hardliner and potential successor to Supreme Leader Ayatollah Ali Khamenei, was killed in a helicopter crash in mountainous terrain near the Azerbaijan border, officials and state media said on Monday.

The charred wreckage of the helicopter which crashed on Sunday carrying Raisi, Foreign Minister Hossein Amirabdollahian and six other passengers and crew was found early on Monday after an overnight search in blizzard conditions.

Iranian President Ebrahim Raisi killed in helicopter crash

The time it’s taking for some of China’s electric-car makers to pay suppliers is ballooning — a further sign of stress in the nation’s increasingly cutthroat auto market.

China’s EV makers taking longer to pay bills amid rising stress

AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.

Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

Electronics manufacturing services firm Notion VTec Bhd (KL:NOTION) charted a new three-year high on Monday, as Bursa Malaysia’s Technology Index touched a new one-year high following the US’ plan to hike tariffs on semiconductors from China.

Notion VTec charts new three-year high amid rally in tech stocks

Bursa Malaysia said on Monday it is introducing Trading Reminders, a new tool that highlights unusual trading activity in addition to queries issued over spikes in prices and volumes.

Bursa introduces Trading Reminder flag on top of unusual market activity queries

The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.

Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

RHB Investment Bank Research has maintained its 'buy'&nbsp;rating for&nbsp;Gamuda Bhd (KL:GAMUDA) at RM5.58, with a higher target price of RM6.55 (from RM6.30), and said it is upbeat on the prospects Ho Chi Minh City (HCMC) has for Gamuda’s property arm.

RHB IB upbeat on Gamuda’s prospects in Ho Chi Minh City, raises target price to RM6.55

Shares in gold-related counters surged on Monday, following the precious metal notching a fresh all-time high, as investor demand soared across the broader metals complex, amid increasing optimism the US will cut interest rates this year.

Poh Kong leads rally in gold-linked stocks as metal hits fresh record

Gold prices hit an all-time high on Monday, as a slowing US inflation trend boosted expectations the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak.

Spot gold rose 1% to US$2,438.44 per ounce, as of 0811 GMT, after hitting a record high of US$2,449.89 earlier in the session. US gold futures GCcv1 rose 1.1% to US$2,442.60.

Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.

Maxis' financial position could face pressure from proposed second 5G network, say analysts

Foreign buying of Malaysian equities was sustained for the fourth consecutive week with a total of RM873.9 million last week, leading to a year-to-date net inflow of RM4.9 million.

In its fund flow report on Monday, the MIDF Research team said the sustained interest in the domestic market may have stemmed from economic optimism, as recent data revealed a 4.2% year-on-year rise in gross domestic product in the first quarter of 2024.

Foreign buying of M'sian equities sustained for fourth week with RM874m inflow, says MIDF

Malaysia is expected to see a "potential upswing" in external demand, particularly from China, while also benefitting from the imposition of US tariffs on Chinese goods, including electric vehicles (EVs) and their components, said TA Securities.

Malaysia to benefit from China demand, US tariffs on Chinese EVs — TA Securities

KUALA LUMPUR (May 20): Phillip Capital has maintained its “buy” rating on Kerjaya Prospek Group Bhd at RM1.80 with a higher target price (TP) of RM2 (from RM1.93) and said it expects Kerjaya’s 1Q2024 net profit to come in stronger year-on-year, but flat quarter-on-quarter.

In a note on ...

Phillip Capital raises target price for Kerjaya Prospek to RM2, sees stronger y-o-y net profit growth in 1Q2024

theedgemalaysia.com&nbsp;highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;

Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

Taiwan President Lai Ching-te asked China on Monday to stop its military and political threats, saying in his inauguration speech that peace is the only choice and that Beijing had to respect the choice of the Taiwanese people.

Lai, addressing the crowd outside the Japanese-colonial-era presidential office in central Taipei, repeated a call for talks with China, which views the proudly democratic island as its own territory and has never renounced the use of force to bring it under Beijing's control.

New Taiwanese president calls on China to stop its threats

Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.

Malaysia's exports rebound slower than expected in April, official data shows

Troubled Australian casino operator Star Entertainment Group said several suitors have approached the company about possible deals, after a newspaper reported that a consortium led by Hard Rock Hotel &amp; Casino made a takeover proposal.

Star says suitors circling as Hard Rock reportedly makes offer 

Bumiputera-mandated agencies under Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.

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