The Hong Kong government will shrink its workforce and accelerate a plan for economic integration with China, as the city seeks new growth drivers to combat geopolitical uncertainty and a property downturn.

Hong Kong braces for growth risks with 10,000 civil job cuts

Hong Kong Financial Secretary Paul Chan said the economy will grow modestly this year, as he looks to shrink the city’s deficit while countering headwinds from a slowing Chinese economy and rising trade tensions with the US.

Hong Kong expects modest growth in 2025 as financial secretary looks to fight deficit

The Hong Kong government may make basketball betting legal in an effort to raise tax revenue, the South China Morning Post reported.

Financial Secretary Paul Chan is considering expanding sports gambling from horse racing and football to increase betting duty income, the newspaper said on Monday, citing an unnamed insider.

Hong Kong could legalise basketball betting to raise tax revenue, SCMP says

Donald Trump’s new trade war is further blurring the lines between Hong Kong and Beijing, threatening to erode the city’s main selling point as a global financial hub.

Hong Kong gets swept up in Trump’s trade war with China

Hong Kong’s leader sought to blame the organiser of Inter Miami’s visit to the city for controversy over Lionel Messi’s failure to play during a much-hyped exhibition game.

“The government will continue to urge the organiser to give a detailed account of the event and actively respond to the requests of ticket holders,” Chief Executive John Lee said at his weekly press briefing. Inter Miami was second on his agenda after national security legislation.

Hong Kong’s leader channels anger over Messi event towards organiser

Meta CEO Mark Zuckerberg made a key concession at a US antitrust trial on Tuesday, saying he bought Instagram because it had a "better" camera than the one his company was trying to build for flagship app Facebook at the time.

At US antitrust trial, Meta's Zuckerberg admits he bought Instagram because it was 'better' 

Fraser & Neave Holdings Bhd (KL:F&N) marked a milestone with its first batch of 2,500 dairy heifers from Chile at its integrated dairy farm in Gemas, Negeri Sembilan.

F&N's first batch of 2,500 Chilean dairy cattles arrives in Gemas farm

OpenAI is working on its own X-like social media network, the Verge reported on Tuesday, citing multiple sources familiar with the matter.

OpenAI is working on X-like social media platform — report

Canadian Prime Minister Mark Carney said his government will allow automakers to import US-manufactured cars and trucks without tariffs, as long as the companies keep making vehicles in Canada.

Canada scraps tariffs for automakers that keep plants running

US importers looking to sidestep Trump administration tariffs are desperately seeking space in a type of warehouse that lets them stash merchandise for as long as five years without paying duties.

Trump trade war sparks run on US warehouses with tariff loophole

US consumer spending has benefited from strong wage growth and low unemployment so far, but it faces huge risks, bank executives warned, if the upheaval sparked by President Donald Trump's trade policy persists.

US banks flag risks to consumer spending from tariff policy uncertainties

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

Petronas Gas, RHB Bank, Lien Hoe, Mayu Global, Binastra, Skygate, Tomei, Binasat, Aurelius Technologies, Kerjaya Prospek, Scope Industries, Keyfield International, Bank Rakyat

Apple's main India suppliers Foxconn and Tata shipped nearly US$2 billion (RM8.83 billion) worth of iPhones to the US in March, an all-time high, as the US company airlifted devices to bypass President Donald Trump's impending tariffs, customs data shows.

Apple airlifted iPhones worth a record US$2 bil from India in March as Trump tariffs loomed

LONDON (April 15): European credit ratings agency Scope has warned that the United States could be downgraded if a lengthy trade war erodes long-term trust in the dollar, or if President Donald Trump implements even more extreme measures such as capital controls.

The fallout from Trump'...

European rating agency Scope sends US downgrade warning

The first phase of the 2025 PKR election, involving the Angkatan Muda Keadilan (AMK) and Women's Division levels, has been completed. 

The party polls were held in seven states from last Friday to Sunday, said Party Election Committee (JPP) chairperson Datuk Seri Dr Zaliha Mustafa.

First phase of PKR election completed, focus shifts to second phase — Zaliha

Sultan of Perak&nbsp;Sultan Nazrin Shah on Tuesday said that the actions of the leaders of two religious institutions, namely the Al-Falah Mosque Subang Jaya and the Sri Maha Kaliamman Temple on Jalan Putra Harmoni, in helping the victims of the gas pipeline fire in Putra Heights regardless of their racial or religious identities&nbsp;should be emulated.

Perak Sultan hails mosque, Hindu temple's inclusive aid for Putra Heights fire victims

The High Court here increased to RM10,000, from the RM5,000 fine imposed by a Magistrate against a former president of Universiti Malaya Association of New Youth (Umany) for insulting the university’s vice-chancellor by staging a protest during a convocation ceremony in 2019.

High Court doubles fine to RM10,000 for former UM student activist for insulting vice-chancellor

China hopes to begin another “50 golden years” in its bilateral relations with Malaysia, said President Xi Jinping, as he begins his three-day visit here for the first time in 12 years as part of his Asean tour.

China sees another ‘50 golden years’ with Malaysia, says Xi

The bank accounts of Mayu Global Group Bhd (KL:MAYU) and several of its subsidiaries, holding a combined total of RM10.67 million, have been frozen by the Royal Malaysia Police (PDRM) as part of an ongoing investigation under anti-money laundering laws.

In a filing with Bursa Malaysia on Tuesday, Mayu Global also disclosed that its executive director Tan Kim Hee, who was detained by Bukit Aman police on April 2 to assist with the investigation, was released on April 7 without any charges filed against him.

Mayu Global says bank accounts frozen in money laundering probe; director released with no charges filed

RHB Bank Bhd (KL:RHBBANK),&nbsp;the country's fourth-largest lender by assets, has been named as the third defendant in a RM313.08 million lawsuit filed by Prismaworld Embassyview Sdn Bhd in the Kuala Lumpur High Court.

RHB confirms named as defendant in RM313m Taman U-Thant suit, to contest claims

The restoration of gas supply in Putra Heights, Subang Jaya — where a massive blaze took place two weeks ago after a pipeline leak — is currently estimated to take place no earlier than July 1, said Petronas Gas Bhd (KL:PETGAS).

Gas supply restoration in Putra Heights expected by July 1 at the earliest, says Petronas Gas

Chinese President Xi Jinping arrived in Malaysia on Tuesday for a three-day state visit at the invitation of the King,&nbsp;Sultan Ibrahim Sultan Iskandar.

China's Xi arrives in Malaysia for three-day state visit

Naza Automotive Group (Naza Auto) plans to strengthen its core automotive brands, improve financial stability, and focus on profitable segments over the next three years, while reducing reliance on lifestyle and niche areas.

Naza Auto to focus on core brands, cut frills in three-year plan to boost profitability

China is "tearing down walls" and expanding its circle of trading partners, "shaking hands" instead of "shaking fists", its foreign ministry said on Tuesday, as Beijing works on diversifying ties amid an escalating trade war with the US.

China says it is 'tearing down walls' to expand trade alliances amid US stand-off

Investor sentiment regarding economic prospects is the most negative in three decades, yet fund managers’ pessimism isn’t fully reflected in their asset allocation which could mean more losses for US stocks, a Bank of America Corp survey shows.

Investors haven’t been this bearish in 30 years, BofA poll shows

Signature Alliance Group Bhd, a subsidiary of kitchen and wardrobe maker Signature International Bhd (KL:SIGN), has secured M&amp;A Securities Sdn Bhd and Affin Hwang Investment Bank Bhd as the underwriters for its initial public offering on the ACE Market of Bursa Malaysia.

M&A Securities, Affin Hwang to underwrite Signature Alliance Group's IPO

Singapore’s government called for a May 3 election as Prime Minister Lawrence Wong seeks a mandate to tackle cost-of-living concerns and lead a nation that has long benefitted from global trade into a complicated new era.

Singapore calls May 3 election as prices, trade war take toll

Lien Hoe Corp Bhd (KL:LIENHOE) announced that its audited accounts for the financial year ended Dec 31, 2024 (FY2024) raised a material uncertainty related to its ability to continue as a going concern, according to its independent auditors, UHY Malaysia PLT.&nbsp;

Lien Hoe’s independent auditors raise going concern doubts following FY2024 audit

Former 1Malaysia Development Bhd (1MDB) CEO Arul Kanda Kandasamy said it was within his rights to comment publicly about the company in 2018, even when he was on garden leave.

Arul Kanda denies breaching 1MDB duty with public remarks

Honda is considering switching some car production from Mexico and Canada to the United States, aiming for 90% of cars sold in the country to be made locally in response to new US auto tariffs, the Nikkei newspaper reported on Tuesday.

Honda to make 90% of US sales locally by relocating Mexico, Canada production — report

Bank Rakyat has appointed Ahmad Shahril Mohd Shariff as its new chief executive officer (CEO), effective April 9.

Ahmad Shahril has been serving as the acting CEO of the bank since Nov 9, 2024, following the resignation of Datuk Mohammad Hanis Osman, who held the top job for nearly three years from July 2022.

Ahmad Shahril appointed as Bank Rakyat CEO

Binasat Communications Bhd (KL:BINACOM) said a RM13.2 million civil works contract involving a high-voltage substation in Kuala Lumpur that was awarded to the group late last year has been terminated.

Binasat loses civil works job for Amazon-linked KL substation project

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

The federal government has approved an allocation of RM16.45 billion for the setting up of a helicopter assembly factory at the Melaka International Airport (LTAM) in Batu Berendam here, said Chief Minister Datuk Seri Ab Rauf Yusoh.

Putrajaya has greenlit RM16.4b helicopter assembly plant in Melaka, says CM

Skygate Solutions Bhd (KL:SKYGATE), formerly Ewein Bhd, is buying a 51% stake in Leader Range Technology (LRT) for RM10.71 million in cash. In a share sale agreement signed on Tuesday, Skygate said it will acquire 255,003 shares from founder and managing director Ong Chee Fui and Kumpulan Modal Perdana Sdn Bhd (KMP), along with all preference shares held by KMP.

Alan Wong