<div class=newsTextDataWrapInner>KUALA LUMPUR (Dec 23): The US Embassy in Kuala Lumpur will be closed on Tuesday and Wednesday, Dec 24 and 25, to observe Christmas, a national holiday in the United States.</div>

<div class=newsTextDataWrapInner>In a statement today, the embassy said all embassy services, including visa interviews, American passport processing, and notarial service, will resume on Thursday, Dec 26.</div>

<div class=newsTextDataWrapInner>The embassy said its phone number for after-hours emergencies is (03) 2168-5000.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

The US Embassy in Kuala Lumpur will be closed on Tuesday and Wednesday, Dec 24 and 25, to observe Christmas, a national holiday in the United States.

US Embassy to be closed on Dec 24-25 for Christmas

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

IHH Healthcare, YTL Power, Central Global, Jentayu Sustainables, Ocean Vantage, Vetece, UWC, Tan Chong Motor

The union representing East and Gulf coast dockworkers kicks off a two-day meeting on Wednesday in New Jersey to discuss wage demands to their employers under the threat of a strike that would disrupt ports from Houston to Boston.

US port workers meet on wages, issue fresh strike threat

The United Auto Workers (UAW) said Wednesday a battery manufacturing joint venture (JV) between General Motors and LG Energy Solution has agreed to recognise the union at a Tennessee plant.

The UAW said a majority of the workers at the Ultium Cells facility signed cards to join the UAW and the company had agreed to recognise their union after workers at an Ohio Ultium plant overwhelmingly voted to join the union in 2022 and won a new contract earlier this year with significant wage hikes.

GM battery JV agrees to recognise UAW at Tennessee plant

The Nasdaq slipped and the benchmark S&P 500 was flat on Wednesday after a soft job openings report fanned concerns about the health of the US economy.

Nasdaq slips, S&P 500 subdued after soft job openings report

Sugar producer MSM Malaysia Holdings Bhd (KL:MSM) said it was not impacted by the recent crop fire in key producer Brazil, as it hedged all its raw sugar requirements under the wholesale segment in 2024.

MSM says unaffected by Brazil crop fire thanks to hedging

Elon Musk’s X Corp agreed to stop processing the personal information of European users to train its artificial intelligence (AI) chatbot Grok, bowing to demands from European Union (EU) regulators.

Ireland’s Data Protection Commission (DPC) on Wednesday announced the company’s commitment to delete EU users’ personal data contained in public posts on its X social media platform that were collected between May 7 and Aug 1, 2024.

Musk’s X bows to EU data protection demands on Grok AI scraping

A US bankruptcy court approved Diamond Sports Group’s deals with National Basketball Association (NBA) and National Football League (NFL) to broadcast games in the 2024-25 season.

The deals, which were disclosed in court papers filed in late August, could put the company back on track to emerge from Chapter 11, its lawyer Joe Graham told the court on Tuesday.

Bankrupt firm Diamond gets approval to broadcast NBA, NFL games

KUALA LUMPUR (Sept 4): Malaysia has accepted Russia’s invitation to participate in the forthcoming BRICS Summit in Kazan, Russia, on Oct 22-24, 2024, says Prime Minister Datuk Seri Anwar Ibrahim.

He said the invitation, extended by President Vladimir Putin himself during their working d...

Malaysia to attend BRICS summit in Kazan in October — Anwar

Malaysia Aviation Group (MAG) is offering discounts of up to 30% on airfares for both economy and business class on all Malaysia Airlines flights, and on all seats on Firefly.

"This exclusive offer is available from Sept 5 to 16, 2024 on the airline’s online platforms, for immediate travel until Aug 31, 2025," MAG said in a statement on Wednesday.

MAG offers up to 30% discounts on Malaysia Airlines, Firefly flights from Sept 5 to 16

Swedish automaker Volvo Cars scrapped its target of going all electric by 2030 on Wednesday, saying it now expected to still be offering some hybrid models in its lineup at that time.

Volvo Cars abandons 2030 EV-only target

IHH Healthcare Bhd has won the bid for the Island Hospital in Penang that is owned by Asian buyout fund Affinity Equity Partners, according to sources.

IHH wins RM4b bid for Island Hospital Penang — source

IHH Healthcare Bhd (KL:IHH), Malaysia’s biggest hospital operator, said on Wednesday that it is acquiring 600-bed Island Hospital in Penang&nbsp;for RM3.92 billion in cash from Comprehensive Care Sdn Bhd.

IHH to acquire Island Hospital for RM3.92b, cash

The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into payment claims related to the Ministry of Education's 1BestariNet service tender, valued at RM4 billion, which was awarded to YTL Communications Sdn Bhd (YTL) in 2011.

MACC raids govt, YTL offices in 1BestariNet probe 

YTL Power International Bhd (KL:YTLPOWR) says its subsidiary YTL Communications Sdn Bhd (YTL Comms) has been questioned by the Malaysian Anti-Corruption Commission (MACC) about the Ministry of Education's 1BestariNet project, valued at RM4 billion.

YTL Power confirms MACC questioned YTL Comms over 1BestariNet

Malaysia's stock exchange is looking to loosen the grip of large domestic investors on the market to encourage more trading and attract foreign investors to the best performing bourse in Southeast Asia.

Bursa wants to ease institutions' hold on stocks, says CEO 

A top 10 Chinese fund manager has asked senior executives to return pay received over the past five years that exceeds a new cap, to tally with a government initiative promoting economic equality, said two people with direct knowledge of the matter.

Chinese fund manager asks staff to return excess pay from past five years — Reuters

Vetece Holdings Bhd (KL:VTC) was the most active stock on Wednesday, though the share price of the newly listed enterprise software company was volatile amid&nbsp;strong interest.

Vetece most active stock, share price volatile amid strong interest

KUALA LUMPUR (Sept 4): Shares of UWC Bhd (KL:UWC) fell by more than 15% on Wednesday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).

Bursa suspends UWC’s intraday short-selling as its share price drops over 15%

Renewed concerns on weakness of the US economy could further weigh on Malaysian technology stocks already under pressure from recent earnings disappointment and a rout in US tech companies, analysts and investors said.

US slowdown risks in focus as Nvidia rout triggers sell-off in local tech stocks 

Crepe paper masking tape manufacturer Central Global Bhd (KL:CGB) has bagged a RM616.4 million contract for the Pan Borneo Highway Sabah Phase 1B project.

Central Global bags RM616.4m Pan Borneo highway job in Sabah

Intel's contract manufacturing business has suffered a setback after tests with chipmaker Broadcom failed, three sources familiar with the matter told Reuters, dealing a blow to the company's turnaround efforts.

Intel manufacturing business suffers setback as Broadcom tests disappoint — Reuters

Loss-making Ocean Vantage Holdings Bhd (KL:OVH) has announced the emergence of three new Sarawak-based substantial shareholders, following the disposal of a collective 23.32% stake by executive directors Martin Philip King Ik Piau and Yau Kah Tak, and one other.

Ocean Vantage sees Sarawak-based companies emerge as largest shareholders

Penang DAP chairman Chow Kon Yeow has confirmed that he will not be defending the post in the state party elections on Sept 22.

The Penang Chief Minister said that he received his nomination letter from the party on Aug 2, but decided not to contest after careful consideration

Chow not defending Penang DAP chairman post in upcoming party polls

（吉隆坡4日讯）杨忠礼电力（YTL Power International Bhd）（KL: YTLPOWR）证实，大马反贪会（MACC）向子公司YTL Communications私人有限公司（YTL Comms）调查有关教育部价值40亿令吉的1BestariNet项目。

杨忠礼电力证实 遭反贪会调查1BestariNet项目

Malaysia's foreign ministry said on Wednesday it would file a police report and carry out an internal investigation into the leak of a classified diplomatic note sent by China's foreign ministry to the Malaysian embassy in Beijing in February.

Wisma Putra to investigate media leak of classified diplomatic note from China

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


EVENING 5: Five things you need to know today

While agreeing that the true potential of Malaysia-Russia relations has not been fully utilised, Malaysia is committed to enhancing its collaboration in all fields with Russia, says Prime Minister Datuk Seri Anwar Ibrahim.

Anwar pledges closer ties with Russia, invites Putin to 2025 Asean summit 

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

The US trade deficit widened to a two-year high in July, fuelled by a surge in imports of goods and partly reflecting stepped-up efforts by companies to ensure adequate supply ahead of a potential dockworkers’ strike.

US trade deficit widens to US$78.8 bil, largest in two years

Jentayu Sustainables Bhd (KL:JSB) said it has received a letter of notification from the Energy Commission of Sabah (ECOS) for Project Oriole — a 162MW run-of-river hydropower plant in the state.