<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 24): The ringgit strengthened further to open higher against the US dollar on Wednesday, on the back of continued weakness in greenback, said a dealer.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>At 9.00 am, the ringgit stood at 3.9180/9210 against the greenback from Tuesday's close of 3.9250/9280.</p></div>

<div class=newsTextDataWrapInner><p>Oanda Corp Head of Trading for Asia Pacific, Stephen Innes, said despite a bit of a risk wobble overnight on the back of trade discussions, the sun continued to shine on the ringgit this morning.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

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KUALA LUMPUR (Jan 24): The ringgit strengthened further to open higher against the US dollar on Wednesday, on the back of continued weakness in greenback, said a dealer. 

At 9.00 am, the ringgit stood at 3.9180/9210 against the greenback from Tuesday's close of 3.9250/9280.

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Ringgit at 3.9180 against US dollar

PKR international bureau chairman Datuk Seri Shamsul Iskandar Md Akin claims that the consensus among parties within Perikatan Nasional (PN) is becoming increasingly fragile.

PN parties’ consensus weakening, says Shamsul Iskandar 

Alphabet Inc’s Google is beginning a wide rollout of ads that will be displayed within and alongside the AI-generated summaries that appear at the top of some search results — a move meant to show investors that costly artificial intelligence (AI) projects can generate revenue.

Google begins wide rollout of ads in AI Overviews search results

The US government and Microsoft Corp have seized 107 websites used by Russian intelligence agents and their proxies in the US, according to the Department of Justice and the tech giant.

US takes down websites used by hackers linked to Russian intelligence agents

All members of the Dewan Rakyat are advised to focus on discussing the affairs of the people instead of politics during the presentation of the 2025 Budget, said Speaker of the Dewan Rakyat Tan Sri Dr Johari Abdul.

Budget 2025: Members of Dewan Rakyat must focus on people's welfare, not politics — Johari

There is a clear commitment from the leadership of Malaysia and Pakistan to resolve any issues that could impede the flourishing trade and commerce between the two countries, said Prime Minister Datuk Seri Anwar Ibrahim.

Speaking at a business dialogue event attended by Pakistani Prime Minister Shehbaz Sharif, Anwar noted that the commitment to enhance trade ties between Kuala Lumpur and Islamabad is currently at the highest level within both governments.

Malaysia, Pakistan leaders commit to enhancing trade and commerce — Anwar

Wall Street's main indexes were mixed on Thursday after data showed strong service activityin the world's largest economy, while cautious investors watched for any escalation in the Middle East conflict.

Wall St opens mixed after economic data; Middle East tensions in focus

OpenAI has tapped global banks for a US$4 billion (RM16.67 billion) revolving line of credit on top of its recent US$6.6 billion fundraising, building a massive war chest to stay ahead in the costly race to develop more sophisticated artificial intelligence (AI).

OpenAI gets US$4 bil in credit on top of US$6.6 bil in fundraising

BEIRUT/JERUSALEM (Oct 2): Israel bombed central Beirut in the early hours of Thursday, killing at least six people, after its forces suffered their deadliest day on the Lebanese front in a year of clashes against Iran-backed armed group Hezbollah.

Israel calls for evacuations from south Lebanon, strikes Beirut suburb

Metals traders arriving in London for LME Week were in for a surprise as they caught up with friends and customers from China.
 
For the last couple of years, the biggest consumer and producer has been a buzzkill for metals bulls — but now suddenly Chinese representatives were among the most bullish in any room.

Sudden shift on China means LME Week whiplash for metal traders

In his first public comments since Stellantis NV confirmed it had started searching for his successor, chief executive officer Carlos Tavares signalled he’s open to leaving the automaker just over a year from now.

Stellantis CEO mulls exiting at the end of contract in 2026

<p>Singapore is set to charge property tycoon Ong Beng Seng over the case of an ex-minister who was sentenced Thursday for obtaining gifts from the businessman.</p>


Singapore set to charge tycoon Ong Beng Seng over ex-minister case

<p>Here is brief recap of some business news and corporate announcements that made headlines on Thursday.</p>


Velesto, MPHB, Kuchai, Sungei Bagan, Lay Hong, Atlan, Techna-X, MyEG, Harrisons, Maybank and Varia 

<p>NH Foods Ltd, a joint venture (JV) partner of egg producer Lay Hong Bhd (KL:LAYHONG), has ceased to be the latter’s substantial shareholder after disposing of 62.32 million shares, or an 8.24% stake.</p>


NH Foods ceases to be Lay Hong’s substantial shareholder

<p>The privatisation of MPHB Capital Bhd (KL:MPHBCAP) has been met with a stumbling block put up by ISM Sdn Bhd, which is the company's minority partner in six joint-venture companies.&nbsp;</p>


MPHB Capital's privatisation hits stumbling block

<p>MyEG Services Bhd (KL:MYEG) said its blockchain developer, Zetrix, has come out with a digital identification (ID) verification service for Chinese nationals on the ZCert service.</p>


MyEG's blockchain developer launches digital ID verification for Chinese nationals

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EVENING 5: Five things you need to know today

<p>Malaysians lost an estimated US$12.8 billion (RM53.34 billion) to scams over the past year, representing about 3% of the country's gross domestic product, according to the State of Scam Report 2024.</p>


Malaysians lost US$12.8b to scams over the past year, survey reveals

<p>Harrisons Holdings (Malaysia) Bhd (KL:HARISON) has proposed to split each of its shares into five shares in a move to improve the trading liquidity of the shares.</p>

<p>The share split will take place based on an entitlement date to be determined later, and is expected to be completed by the fourth quarter of this year, the group said in a filing with Bursa Malaysia.</p>


Harrisons proposes one-into-five share split

<p>Duty-free retailing group Duty Free International Ltd has received a notice of compulsory land acquisition for several of its land lots in Malaysia, according to an Oct 3 release.</p>


Duty Free International receives compulsory land acquisition notice

<p>Atlan Holdings Bhd (KL:ATLAN) said its indirectly owned units, Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd (CPPA), have received notices for the compulsory acquisition of their lands in Bukit Kayu Hitam, Kedah, for a road construction project.</p>


Atlan Holdings' units get compulsory land acquisition for road construction project in Bukit Kayu Hitam

<p>Vietnam plans to fund a US$67 billion (RM282.8 billion) high-speed railway entirely on its own in a demonstration of the Communist-run country's reluctance to accept foreign loans, though some experts said the goal may be unrealistic.</p>


Vietnam plans US$67 bil high-speed railway with no foreign capital

<p>The total sum for the proposed disposal of Kuchai Development Bhd’s (KL:KUCHAI) assets and liabilities to Sungei Bagan Rubber Company (KL:SBAGAN) has been revised lower following the exclusion of an agricultural land parcel in Semenyih, Selangor.</p>


Kuchai Development-Sg Bagan deal revised downwards to RM267.78 mil on Semenyih land exclusion 

<p>(Oct 3):&nbsp;A leading economist in China said the country has room to ramp up fiscal support for the economy by issuing as much as 10 trillion yuan (US$1.4 trillion, or RM6.01 trillion) in special debt, reflecting rising expectations for Beijing to expand public spending as part of its stimulus package.</p>


China ready for US$1.4 tril fiscal bazooka, top economist says

<p>Nvidia Corp insiders have cashed in on shares worth more than US$1.8 billion (RM7.5 billion) so far this year — and more selling is on the horizon.</p>

<p>Nearly 11 million shares have been sold by Nvidia executives and directors in 2024, the most in a year since at least 2020 after adjusting for stock splits, according to data compiled by the Washington Service.</p>


Share sales by Nvidia insiders top US$1.8 bil and more are coming

<p>Varia Bhd (KL:VARIA), formerly known as Stella Holdings Bhd, has appointed Datuk Seri Mohd Nizom Sairi, the former chief executive officer and director general of the Inland Revenue Board (LHDN), as its new independent and non-executive chairman.</p>


Varia appoints former LHDN chief Nizom Sairi as non-executive chairman

<p>The Pahang palace on Thursday refuted a post on social media regarding a royal wedding invitation involving the Pahang Crown Prince Tengku Hassanal Ibrahim Alam Shah Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah and a woman as fake and has no connection to the Crown Prince or the palace.</p>


Pahang palace refutes fake post of royal wedding involving Tengku Hassanal

<p>Technology company Techna-X Bhd (KL:TECHNAX) has called off its plans to develop an 85-acre microalgae farm and produce algae biofuel following the mutual termination of a tripartite agreement.</p>


Techna-X’s microalgae biofuel project scrapped

<p>KUCHING (Oct 3): Sarawak Energy Bhd (SEB) has appointed Gabungan Parti Sarawak’s Satok state assemblyman&nbsp;Datuk Ibrahim Baki&nbsp;as its chairman effective Oct&nbsp;1.</p>


Sarawak Energy appoints Ibrahim Baki as chairman effective Oct 1, 2024

<p>Malayan Banking Bhd (KL:MAYBANK) said it has signed a memorandum of understanding with China's Bank of Hangzhou to work together on enhancing cross-border business and advancing digital innovation.</p>


Maybank teams up with Bank of Hangzhou to boost cross-border financing, digital innovation

<p>Singapore’s initiative to tackle high rents has suffered another setback, with a single bid for a serviced apartment site being rebuffed.</p>

<p>The S$120 million (US$93 million or RM390.72 million) offer for a site in Media Circle — near a business park cluster in the country’s west — was “assessed to be too low,” the Urban Redevelopment Authority said in a statement Thursday.</p>
