<div class=newsTextDataWrapInner>KUALA LUMPUR (Oct 31): Eita Resources Bhd group managing director Fu Wing Hoong has passed away.</div>

<div class=newsTextDataWrapInner>In a Bursa Malaysia filing on Monday (Oct 31), the company announced the demise of 63-year-old Fu.</div>

<div class=newsTextDataWrapInner>At the midday break on Monday, Eita added 0.68% or 0.5 sen to 74.5 sen with 33,600 shares traded.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

Eita Resources Bhd group managing director Fu Wing Hoong has passed away.

Eita Resources MD Fu Wing Hoong passes away

Advanced Micro Devices Inc (AMD) is shedding about a thousand jobs as part of an effort to refocus on newer markets like artificial intelligence (AI) chips.

“As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%,” the company said in a statement on Wednesday.

AMD cutting about 4% of workforce to focus resources on AI push

Chinese companies are exploring Germany as a fundraising venue, in a move that could reinvigorate the European market for their global depositary receipts (GDRs).

Two companies are getting ready to test the waters. Renewable-energy firm Sungrow Power Supply Co is planning to seek as much 4.88 billion yuan (RM2.99 billion) in Frankfurt through the sale of GDRs, it said last month.

Chinese firms target Frankfurt revival for European listings

Traders added to wagers that the Federal Reserve will cut interest rates by another quarter point next month after in-line inflation data, spurring gains for treasury debt.

The rally trimmed yields on two-year notes, more closely tied to Fed rate decisions than longer tenors, by as much as 10 basis points (bps) to 4.24%.

Markets see 80% chance of December Fed cut after inflation data

President-elect Donald Trump returned to Washington on Wednesday for the first time since winning last week's election to meet fellow Republicans in Congress and President Joe Biden at the White House.

Trump returns to Washington to meet Biden, Republicans in Congress

Germany’s economy will hardly grow next year as underlying problems add to cyclical weakness, according to Chancellor Olaf Scholz’s independent panel of experts.

Gross domestic product is set to increase by just 0.4% in 2025, the Council of Economic Experts predicted in a twice-yearly report published on Wednesday in Berlin.

Scholz advisers trim German growth forecast for next year

Facebook owner Meta Platforms must face trial in a US Federal Trade Commission lawsuit seeking its break-up over claims that it bought Instagram and WhatsApp to crush emerging competition in social media, a judge in Washington ruled on Wednesday.

Meta will face antitrust trial over Instagram, WhatsApp acquisitions

Here is a brief recap of some corporate announcements that made news on Wednesday.

Johor Plantations, United Plantations, VSTECS, Swift Haulage, MHB, Bumi Armada, Dayang Enterprise, Pasdec, and Scientex

Wall Street's main indexes inched higher on Wednesday after in-line consumer price inflation data kept the US Federal Reserve (Fed) on track to deliver another interest rate cut in December.

Wall Street edges higher after inflation data keeps Fed rate-cut hopes intact

PUC Bhd (KL:PUC) said its external auditor Messrs UHY had expressed a qualified opinion on its audited financial statements for the 18 months ended June 30, 2024 (from Jan 1, 2023 to June 30, 2024).

PUC’s auditor expresses qualified opinion on its FPE2024 financial statements

A surge in Bitcoin that paused earlier Wednesday is regaining steam, sending the original cryptocurrency above US$90,000 (RM400,360) for the first time, as traders assess the remaining market impact of President-elect Donald Trump’s rhetorical support for crypto.

Bitcoin rises above US$90,000 as rally resumes on Trump optimism

Malaysia Airlines chief executive officer Datuk Captain Izham Ismail will stay at the helm another year after his contract was extended, the carrier confirmed on Wednesday.

Izham to stay on as Malaysia Airlines CEO after contract extended

Over 200 people, including politicians, business figures, and relatives of the late Tun Daim Zainuddin gathered to pay their last respects to Malaysia’s former twice-serving finance minister, who died at 8.21am on Wednesday.

Farewell, Tun Daim

United Plantations Bhd (KL:UTDPLT) announced on Wednesday a 60 sen per share dividend payout — comprising a special dividend of 20 sen and an interim dividend of 40 sen — together with a one-for-two bonus issue, as it reported an 8.8% drop in its third quarter net profit&nbsp;following a jump in operating expenses.

United Plantations announces special dividend and one-for-two bonus issue as 3Q profit slips 8.8%

Bumi Armada Bhd (KL:ARMADA), an oilfield services provider controlled by tycoon T&nbsp;Ananda Krishnan, is considering buying MISC Bhd’s (KL:MISC) offshore energy business, according to people with knowledge of the matter.

Bumi Armada could buy MISC's offshore energy assets, Bloomberg reports

KHAZANAH Nasional Bhd has amassed an estimated RM5.48 billion from the dividend payouts of eight public listed companies (PLCs) and proceeds from stake disposals in three PLCs so far this year.

A back-of-the-envelope calculation shows that the sovereign wealth fund received RM2.8 billio...

Khazanah reaps over RM5 bil from dividends, share sale this year 

Since the US&nbsp;and China imposed tit-for-tat tariffs in their trade war during Donald Trump's first presidential term, Beijing has taken steps to reduce its reliance on American farm goods in a wider effort to bolster its food security.

How China reduced its reliance on US farm imports, softening trade war risks

Leaders of Asia-Pacific airlines laid their frustrations bare with the original equipment manufacturers (OEMs) for the supply chain constraints currently plaguing the industry at the Association of Asia Pacific Airlines' (AAPA) 68th Assembly of Presidents held on Wednesday.

Airline CEOs slam OEMs for ongoing supply chain woes

Kelington Group Bhd (KL:KGB) shares and warrants were among Bursa Malaysia's top gainers on Wednesday after the group highlighted strong job prospects during a briefing with analysts on the same day about its latest quarterly results.

Strong prospects lift Kelington's shares, warrants to Bursa's top gainers list

Singapore’s Oversea-Chinese Banking Corp (OCBC)&nbsp;has enough capital for business growth even as chief executive officer Helen Wong signals her appetite for deals while keeping the bank’s dividend policy.

OCBC has enough capital for M&A, business growth, CEO says

Information and communications technology (ICT) products distributor VSTECS Bhd (KL:VSTECS) has posted a 53.79% year-on-year increase in net profit for the third quarter, driven by a record-high revenue.

VSTECS's 3Q profit rises 54% on record revenue, declares 2.8 sen dividend

Here is a brief recap of some corporate announcements that made news on Wednesday.

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Dayang Enterprise Bhd (KL:DAYANG) has secured two more contracts to provide pan-Malaysia services to the national oil and gas company Petronas and its production sharing contractors.

Dayang Enterprise gets two more pan-Malaysia services contracts

Aizo Group Bhd (KL:AIZO) has bagged a RM24.1 million sub-contract from China State Construction Engineering (M) Sdn Bhd (CSCE Malaysia) to undertake external infrastructure works for a high-rise residential project in Kuala Lumpur.

Aizo clinches RM24.1 mil job for infrastructure works of high-rise residential project

The late Tun Daim Zainuddin, who passed away on Wednesday morning at 86, was widely recognised for his pivotal role as former prime minister Tun Dr Mahathir Mohamad’s chief economic troubleshooter.

Politicians pay tribute to Tun Daim’s passing

The Health Ministry (MOH) on Wednesday said it is exploring the use of the Diagnostic Related Groups (DRG) — a system that categorises hospital patients based on the complexity of their cases to determine the cost of treatment and fixed reimbursement charges, rather than itemising each charge — for private hospitals, amid surging hospital bills.

MOH exploring use of Diagnostic Related Groups to address surging private healthcare costs

Palm oil producer Johor Plantations Group Bhd (KL:JPG) said on Wednesday it is optimistic on the remaining months of the year thanks to strong prices after net profit rose 13% in the third quarter.

Johor Plantations optimistic as prices stay high after net profit rises 13% in 3Q

DENPASAR, Indonesia/SYDNEY/SINGAPORE (Nov 13): Several international airlines cancelled flights to and from Indonesia’s resort island of Bali on Wednesday, after further&nbsp;eruptions of a volcano&nbsp;that has spewed ash clouds as high as 10km (32,808 feet) and forced thousands to evacuate.

Flights cancelled to and from Indonesia’s Bali due to volcanic ash

A summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday.

FBM KLCI up 0.19% to 1,611.50 on Nov 13, 2024

Newly-listed logistics company AGX Group Bhd (KL:AGX) said it entered into a deal on Wednesday to provide freight forwarding and customs brokerage services to Capital A Bhd’s (KL:CAPITALA) wholly owned maintenance, repair and overhaul (MRO) unit.