US chipmaker Onsemi will lay off 170 staff in the Czech Republic, cutting its workforce in the country by 7.5%, the company said on Monday, saying it was adjusting to current market conditions.

Onsemi to lay off 170 staff in Czech Republic, cutting workforce by 7.5%

Slovak Prime Minister Robert Fico congratulated US President Donald Trump's government efficiency adviser, Elon Musk, for aiming to dismantle the main US aid agency, saying its funds were used to "deform the political system" in Slovakia.

Slovak leader Fico congratulates Musk for gutting US aid agency

The Trump administration is proposing an overhaul of the US State Department that would eliminate more than 100 offices including some working on war crimes and rights advocacy to ensure Washington's premier diplomatic agency is in line with President Donald Trump's "America First" priorities.

Trump administration proposes shake-up of US State Department

A slew of mergers and acquisitions among finance-related firms is defying the global slump in dealmaking amid market turmoil triggered by US President Donald Trump’s tariff war.

US$50 bil finance deals defy global M&A gloom

Alphabet Inc pays Samsung Electronics Co an “enormous sum of money” every month to pre-install Google generative AI app, Gemini, on its phones and devices, according to court testimony, even though the company’s practice of paying for installations has twice been found to violate the law.

Google paid Samsung ‘enormous sums’ for Gemini AI app installs

The treasurers of eight US states have written an open letter to Tesla Inc’s board of directors questioning the direction of the company and the level of attention Elon Musk is paying to its mounting challenges.

Tesla board gets an earful from state treasurers over Musk’s focus

United States (US) tech giants Intel and Oracle have raised concerns about the impact of the United States’ (US) tariffs on their operations in Malaysia, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Intel, Oracle raise concerns over US tariffs with PM — Zafrul 

Prime Minister Pedro Sanchez said Spain will boost defence spending to 2% of economic output in 2025, or four years earlier than previously planned, as Nato nations come under growing US pressure to invest more in their security.

Spain plans to hike defense spending to 2% of GDP this year

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

MGB, Scanwolf, DPS Resources, Petronas Chemicals, Alpha IVF, Pentamaster, Southern Steel

Northrop Grumman Corp reported first-quarter profit that missed analysts’ expectations and cut its earnings forecast for the year as costs mounted for its next-generation B-21 stealth bomber.

Northrop Grumman cuts earnings outlook on B-21 Bomber costs

Solar photovoltaic (PV) module manufacturers in Malaysia owned by China-based players could face the risk of being phased out due to the latest US-imposed duties on solar imports from the country, an industry group representing the sector said.

New US tariffs on solar imports threaten to phase out Chinese solar panel makers in Malaysia

Thailand’s Prime Minister Paetongtarn Shinawatra has ruled out an imminent cabinet shakeup amid reports of a growing rift between her ruling party and its biggest coalition partner.

Thai PM rules out cabinet shakeup amid signs of coalition rift

Malaysia should brace for potential US recession and slowdown of China that will drag on the global economy this year, OCBC warned on Tuesday.

Malaysia should brace for potential US recession, China slowdown, says OCBC

The Royal Malaysian Police (PDRM) plans to nab&nbsp;another ‘Tan Sri’ for questioning&nbsp;in connection with the MBI ponzi scheme, following a second round of arrests from April 18 to 21 and the seizure of RM347 million in assets, according to sources.

Police to nab third ‘Tan Sri’ for questioning, following fresh arrests and RM347m seizure in MBI case — sources

The Visa Liberalisation Plan (PLV) for Chinese visitors has been extended for another five years, as the initiative has shown immediate positive impact on the country’s economy, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

Visa exemption for Chinese tourists extended for five years to boost economy — home minister

KUALA LUMPUR (April 22): Demand for palm oil from top buyers China and India may rise from restocking ahead of summer and ongoing discount against soybean oil, the Malaysian Palm Oil Council (MPOC) said on Tuesday.

Palm oil demand from China, India may rise in next two months, support prices — MPOC

KUALA LUMPUR (April 22): Reach Ten Holdings Bhd’s initial public offering (IPO) shares were oversubscribed less than two times by the public investors ahead of its Main Market listing.

Reach Ten’s Main Market IPO shares oversubscribed by 1.85 times

Solar photovoltaic (PV) module manufacturers in Malaysia owned by China-based players could face the risk of being phased out due to the latest US-imposed duties on solar imports from the country, an industry group representing the sector said.

The High Court has postponed the Sapura Holdings Sdn Bhd winding-up petition, involving feuding brothers Tan Sri Shahril Shamsuddin and Datuk Shahriman Shamsudin, to Wednesday at 9am, as both sides are negotiating a settlement.

Sapura Holdings winding-up case postponed to Wednesday as brothers seek settlement

Petronas Chemicals Group Bhd (KL: PCHEM), or PCG, announced on Tuesday that its Pengerang Petrochemicals Complex in Johor — the group’s largest growth project under its olefins and derivatives segment in partnership with Saudi Aramco — commenced commercial operations in November 2024

Petronas Chemicals says commercial ops at Pengerang site commenced in November 2024

Norges Bank, which manages Norway’s government pension fund, has emerged as a substantial shareholder in automated test equipment (ATE) maker Pentamaster Corp Bhd (KL:PENTA) with a 5.26% stake.

Norges Bank emerges as substantial shareholder of Pentamaster

THE recent Putra Heights gas pipeline explosion has affected the livelihood of 469 families and disrupted the operations of nearly 300 companies whose gas supply has been cut.

While the cause of the April 1 blaze is being investigated, a number of firms have been forced to halt producti...

Putra Heights gas blast leaves its mark on businesses

The Ministry of Transport (MOT) is studying a more structured mechanism regarding port charges to ensure the sustainability of the country's ports as well as a balance between market needs and capacity development.

Transport Ministry floats plan for phased 30% increase in port tariff

<h2>Notable filings</h2>

During the holiday-shortened week of April 2 to 4, notable shareholding changes at Bursa Malaysia-­listed companies included those at Hong Leong Financial Group Bhd (KL:HLFG), which saw the Employees Provident Fund (EPF) resurface as its substantial sh...

Insider Moves: Hong Leong Financial Group Bhd, NexG Bhd, MMAG Holdings Bhd, Propel Global Bhd, MCE Holdings Bhd, CPE Technology Bhd

US President Donald Trump’s policy shocks are tilting risk sentiment in favour of emerging-market equities, leading to their biggest outperformance in 16 years over US stocks as investors focus on local growth and earnings.

EM stocks extend lead over S&P 500 as Trump rattles US markets

Shares of TMD Energy Ltd, a 66.39% subsidiary of Straits Energy Resources Bhd (KL:STRAITS), rose by as much as 26.76% on its first day of trading on the New York Stock Exchange (NYSE) American.

TMD Energy opened at US$3.26 on Monday (April 21), and hit an intraday high of US$4.12, before it pared its gains to close at US$3.63, an 11.69% premium over the initial public offering (IPO) price of US$3.25 per share.

Straits Energy’s TMD ends NYSE American debut at 12% premium to IPO price

The cargo division of Malaysia Aviation Group, MAB Kargo Sdn Bhd (MASkargo), together with Qatar Airways Cargo and IAG Cargo, plan to launch a global cargo joint business to improve service, speed, connectivity, routes, efficiency and safety in air freight.

MASkargo, Qatar Airways Cargo and IAG Cargo plan joint cargo business

Global paper manufacturer Zhejiang Jingxing Paper Joint Stock Co Ltd is set to expand its manufacturing operations in Banting, Selangor, with a RM1.9 billion investment.

Shenzhen-listed Zhejiang Jingxing Paper invests RM1.9 bil to expand Malaysian operations

The dragon carving souvenir recently presented to Chinese President Xi Jinping was a personal gift and not an official government representation, Transport Minister Anthony Loke Siew Fook said.&nbsp;

Loke: Dragon souvenir for Xi a personal gift, should not be blown out of proportion

The escalation of US-China trade tensions, marked by aggressive tariff measures by US President Donald Trump, is likely to reinforce Asean's attractiveness as a neutral production and investment base, according to OCBC chief economist Selena Ling.

Trump tariffs reinforce Asean as neutral hub for rest of world — OCBC economist

Wong &amp; Partners, the legal firm which had advised 1Malaysia Development Bhd (1MDB), did not play a role in the controversial transfer of the US$1 billion meant for a joint venture with PetroSaudi International Ltd (PSI), but which was then misappropriated, the court heard on Tuesday.

1MDB legal adviser Wong & Partners played no role in controversial US$1b remittance, court told

The treasurers of eight US states have written an open letter to Tesla Inc’s board of directors questioning the direction of the company and the level of attention Elon Musk is paying to its mounting challenges.

Jan Lopatka