Shenzhen Longsys Electronics Co priced its Hong Kong listing below the top end of the marketed range, according to people familiar with the matter, joining a wave of Chinese companies along the artificial intelligence (AI) supply chain to debut in the city.

Chipmaker Longsys said to price Hong Kong listing at HK$236 — Bloomberg

Canada will let businesses immediately write off the cost of most new capital investments for tax purposes, Prime Minister Mark Carney said on Tuesday, unveiling a measure aimed at strengthening the economy and drawing more foreign investment.

Canada offers permanent tax incentive on capital investment as Carney lures investors

Headline growth not representative of underlying challenges

Nvidia Corp chief executive officer Jensen Huang dismissed the need for new artificial intelligence security regulations on Tuesday, arguing that market forces will help companies safely innovate.

Nvidia’s Huang says AI industry doesn’t need any new laws

The US Justice Department on Tuesday urged a federal court to require states seeking to block Paramount Skydance's US$110 billion (RM444.9 billion) takeover of Warner Bros Discovery to post a "proper bond" covering the costs of any delay in completing the deal.

US DOJ backs bond demand in Paramount-Warner Bros antitrust fight

The US Senate failed on Tuesday to advance comprehensive cryptocurrency legislation backed by President Donald Trump in a major blow for digital asset companies and Republicans who had championed the bill for months.

US Senate fails to advance sweeping cryptocurrency bill in blow for industry

OpenAI has recently held discussions with large investors about a fresh capital raise that would increase the ChatGPT maker's valuation to about US$1.2 trillion (RM4.8 trillion) before it goes public, the Financial Times reported on Tuesday, citing people familiar with the matter.

OpenAI mulls funding round at US$1.2 tril valuation ahead of IPO — report

US Treasury Secretary Scott Bessent defended a range of Trump administration economic policies before lawmakers on Tuesday, from currency and bond market interventions to AI safety, disclosing plans to meet with his Chinese counterpart this weekend.

Bessent defends Trump economic policies, reveals plans to meet Chinese official

Nvidia CEO Jensen Huang is set to attend US President Donald Trump's state dinner for Chinese President Xi Jinping, a source familiar with the matter said on Tuesday.

Nvidia CEO to attend Trump dinner for Xi — Reuters

Wall Street extended its sell-off on Tuesday, as rising US Treasury yields, mounting debt concerns and soaring crude prices kept buyers on the sidelines.

Wall Street ends lower as oil spikes, benchmark Treasury yield breaches 5%

The war with Iran cost the US military around US$38 billion (RM153.7 billion) as of Aug 1, the non-partisan Congressional Budget Office said Tuesday, with billions more potentially added to the price tag each month the conflict wears on.

Iran war has cost US military US$38 bil — Congressional Budget Office

KPJ Healthcare Bhd (KL:KPJ) has discontinued its legal action against seven of 11 former directors it was suing over the RM119.92 million sale of a 49% stake in its previously wholly-owned subsidiary, Lablink (M) Sdn Bhd, in 2018.

KPJ drops lawsuit against seven ex-directors over Lablink deal, retains case against four

Tan Boon Seng has emerged as a substantial shareholder of Cuscapi Bhd (KL:CUSCAPI), purchasing a 10.618% interest in the company via a direct business transaction as existing shareholders exit.

Tan Boon Seng emerges as substantial shareholder in Cuscapi

The Attorney General’s Chambers (AGC) said it decided not to proceed with four charges against former prime minister Tan Sri Muhyiddin Yassin after concluding that continuing the prosecution posed litigation risks that could compromise the remaining charges against him.

Pressing on with Bukhary Equity-linked charges posed risks to broader case against Muhyiddin — AGC

Pestec International Bhd (KL:PESTEC) said on Tuesday that it was unaware of a winding-up petition filed against the group by its China-based supplier Shandong Power Equipment Co Ltd (SPECO) until it was informed by Bursa Malaysia Securities.

Pestec says unaware of  winding-up petition until Bursa notification, disputes Chinese supplier's claim

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

AirAsia Group, EcoWorld, KPJ, YTL Power, Cuscapi, Hextar Retail, Pestech, Butterfield FB, Crest Builder, PTT Synergy, Frontken, UUE

Eco World Development Group Bhd (KL:ECOWLD) has emerged as the top bidder for a residential site at Lorong Puntong/Sin Ming Avenue in Singapore, with an offer of S$208.1 million (RM667.62 million).

Eco World tops bids for Singapore residential site with S$208.1 mil offer

The Attorney General must provide a detailed explanation for seeking a discharge not amounting to an acquittal (DNAA) to discontinue part of the prosecution against former prime minister Tan Sri Muhyiddin Yassin, said Democratic Action Party (DAP) national chairman Gobind Singh Deo.

Gobind calls on AG to explain decision to drop part of Muhyiddin's charges mid-trial

Wall Street extended its sell-off on Tuesday, as rising US Treasury yields, mounting debt concerns and soaring crude prices kept buyers on the sidelines.

Global networking devices and accessories provider TP-Link Distribution Malaysia Sdn Bhd has launched WiFi 8, a new technology designed to strengthen coverage, manage congestion and reduce interference.

TP-Link launches new WiFi technology to strengthen connectivity, manage congestion

Frontken Corp Bhd's (KL:FRONTKN) 93.4%-owned subsidiary Ares Green Technology Corp (AGTC) has won the tender for an industrial property in Tainan, Taiwan, for NT$920 million (RM118.16 million) that it was bidding for as part of its strategic plan to meet future capacity requirements.

Frontken unit wins bid for RM118 mil industrial property in Taiwan for expansion

The Malaysian Immigration Department (JIM) has dismantled a suspected fake e-Temporary Employment Visit Pass (e-PLKS) operation following simultaneous raids on 11 premises around the commercial area of Jalan Chan Sow Lin, in Kuala Lumpur on Monday.

Immigration Dept shuts down suspected fake temporary employment visit pass operation, 11 Bangladeshi nationals detained

The US and China are discussing slashing tariffs on certain goods, including on American energy and agricultural shipments — a potential sign the leaders’ summit next week will lead to an extension of the one-year trade truce.

China and US discuss cutting tariffs on agriculture and energy — Bloomberg

US Treasury Secretary Scott Bessent defended a range of Trump administration economic policies before lawmakers on Tuesday, from currency and bond market interventions to AI safety, disclosing plans to meet with his Chinese counterpart this weekend.

Meta Platforms said on Tuesday it is launching "Meta One" subscription service for better AI capabilities and new features across its social media apps, including Instagram, Facebook and WhatsApp.

Meta launches subscriptions with enhanced AI features

The Parliament’s Public Accounts Committee (PAC) on Tuesday began proceedings on Lembaga Tabung Haji (LTH) to review the progress in implementing recommendations from the Royal Commission of Inquiry (RCI) report on the institution.

PAC reviews implementation of RCI recommendations on Tabung Haji

Radiant World and Sapphire Minmetals, two iron ore traders under pressure amid allegations of fraud, have made further reductions in staffing across their offices in Asia and Europe, according to people familiar with the matter.

Radiant World slashing more jobs as legal challenges mount — Bloomberg

Canada will let businesses immediately write off the cost of most new capital investments for tax purposes, Prime Minister Mark Carney said on Tuesday, unveiling a measure aimed at strengthening the economy and drawing more foreign investment.

The US Supreme Court refused to clear the Postal Service to enforce new restrictions on mail-in ballots for the congressional midterms, in a rebuff to the Trump administration after some states started early voting and opponents warned late-breaking changes would inject chaos into the elections.

Supreme Court rejects Trump’s mail ballot curbs for US midterm election

The US poverty rate edged down to the lowest on record in 2025, while median household income hit a record high, the Census Bureau said on Tuesday. There were 34.5 million people in poverty in 2025, the agency said.

US poverty rate dips to lowest on record, Census Bureau says

The chairman of the US Federal Trade Commission said on Tuesday that "everyone should be deeply suspicious" about AI companies seeking antitrust exemptions while they also lobby for new regulations.

Julia Fioretti & Sangmi Cha

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