(April 18): The world’s largest crypto exchange Binance has converted the entire pool of assets held in an emergency fund for users into USDC, the stablecoin issued by US firm Circle Internet Financial.

Binance converts its billion-dollar ‘Safu’ emergency fund into stablecoin USDC

(April 17): The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans said on Wednesday.

US plans to restore tariffs on dominant solar technology, sources say

A gauge of global chip stocks and artificial intelligence (AI) bellwether Nvidia Corp have fallen together into a technical correction, showing moderation in the global equity market’s most conspicuous driver over the past year and a half.

Nvidia, chip stocks drop into correction as rate bets shift

Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.

Musk apologises for ‘incorrectly low’ Tesla severance packages

Nokia Oyj reported higher first-quarter profit than analysts expected and the telecom network equipment maker said it expects its struggling network infrastructure business to return to sales growth for the full year.

Nokia’s profit beats estimates, networks to return to growth

Huawei Technologies Co released its latest series of smartphones on Thursday, sustaining its momentum after the breakthrough Mate 60 device helped erode Apple Inc.’s dominance in China’s high-end segment.

Huawei unveils new phone lineup to ramp up pressure on Apple

Taiwanese chipmaker TSMC posted a 9% rise in first-quarter net profit on Thursday that beat market expectations as it rides a wave of demand for semiconductors used in artificial intelligence applications.

TSMC's first quarter profit rises 9%, beats forecasts

Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.

Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

Global IT spending is expected to rise 8% year-on-year to US$5.06 trillion (RM24.2 trillion) in 2024, according to consulting firm Gartner, Inc.

Global IT spend seen rising 8% y-o-y to US$5 tril in 2024, says Gartner

Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.

Google fires workers protesting US$1.2b Israeli contract

Alphabet-owned Google is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

Micron Technology Inc, the largest US maker of computer-memory chips, is poised to get more than US$6 billion (RM28.7 billion) in grants from the Commerce Department to help pay for domestic factory projects, part of an effort to bring semiconductor production back to American soil.

Micron poised to get over US$6b in chips grants in announcement next week

EU antitrust regulators have concluded that Microsoft's US$13 billion (RM62.2 billion) investment into OpenAI is not an acquisition, sources familiar with the matter said on Wednesday, signalling the deal will avoid a formal European probe that could have led to onerous remedies for the US tech giant.

Microsoft-OpenAI deal set to dodge formal EU merger probe — Reuters

Federal jurors in New York heard sharply contrasting arguments on whether a trader manipulated the Mango Markets cryptocurrency exchange to steal US$110 million (RM527.1 million) or executed a perfectly legal strategy that was permissible under the rules of the platform.

Crypto trader’s US$110m manipulation case now with jury

Malaysia Airlines is offering affected customers a one-time change to their travel itinerary free of charge, or opt for a full refund, irrespective of their fare family, due to Indonesia’s Mount Ruang volcanic eruption.

Volcanic eruption: Malaysia Airlines offers one-time change or full refund to affected passengers

Norway’s US$1.6 trillion (RM7.65 trillion) sovereign wealth fund underperformed its benchmark in the first quarter, with returns coming up short for a second consecutive report.

Norway's US$1.6 tril fund misses benchmark with 6.3% return

China's former deputy central bank governor, Fan Yifei, was charged with illegally accepting property totalling more than 386 million yuan (US$53.32 million or RM253.02 million), directly or through his relations, China's state television CCTV reported on Thursday.

Former PBOC deputy governor charged with illegally accepting US$53.3 mil in property

The Farmers' Organisation Authority (LPP) will apply for an additional quota of local white rice if the existing allocation is insufficient to overcome the shortage in the market, said its director general  Datuk Azulita Salim.

Govt to get request for additional local white rice quota if needed

Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

Bursa closes higher on improved sentiment, bargain hunting

Perikatan Nasional (PN) has welcomed the government's decision to allocate funds to elected representatives from the opposition.

Opposition Leader Datuk Seri Hamzah Zainudin, in a statement on Thursday, however, said that PN will decide on the matter after perusing the terms of the draft memorandum of understanding (MOU) being prepared by the government.

PN welcomes govt's decision to extend allocations to opposition reps

Two German-Russian nationals have been arrested in Germany on suspicion of plotting sabotage attacks, including on US military facilities, in an effort to undermine military support for Ukraine, officials said on Thursday.

Germany arrests two for alleged military sabotage plot on behalf of Russia

Finance Minister II Datuk Seri Amir Hamzah Azizan held a bilateral discussion with Indonesia’s Finance Minister Sri Mulyani Indrawati in Washington, the US, including on Islamic finance and the halal industry.

Amir Hamzah, Indonesian counterpart discuss Islamic finance, halal industry in Washington

Discover Financial Services on Wednesday reported a 68% drop in first-quarter profit, as the lender set aside more in rainy-day funds to cover for potential credit losses amid an uncertain economy.

Discover Financial's profit falls on higher loan loss provisions

The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).

Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.

PIE Industrial extends rally to new all-time high as Kenanga flags new client

Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.

Malaysia Airlines, AirAsia cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.

The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.

Singapore loses ‘world’s best airport’ crown to Qatar

Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.

Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).

Stop buying gold ETF as prices may correct — Philip Capital

Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.

Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.

Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.

Analysts remain sanguine on IGB REIT’s prospects going forward

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.

OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.

Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;

Bursa mixed at midday break, key index up

Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

The Malaysian Bar argued in court that its challenge against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's conditional discharge is not academic as it may determine the fate of the Yayasan Akalbudi graft case.

Malaysian Bar: Legal challenge around Zahid's DNAA not academic

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.

Technology

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