An Australian computer scientist who falsely claimed he invented bitcoin was on Thursday found in contempt of court for bringing a £911 billion (US$1.2 trillion or RM5.4 trillion) lawsuit against Twitter founder Jack Dorsey's payments company Block  in Britain.

Self-proclaimed bitcoin inventor in contempt of court over US$1.2 tril UK lawsuit

Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to US$2.2 billion (RM9.9 billion) in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday.

Losses from crypto hacks jump to US$2.2b in 2024 — report 

US Tesla Inc is in early discussions with the city of Austin about its autonomous vehicle technology it hopes to roll out on Texas roads as early as next year.

Tesla sounds out Austin officials about long-promised driverless fleets 

The Communications Ministry will monitor and take additional measures if any social media platforms fail to enforce their own age restrictions for users.

Fahmi warns of added measures against social media platforms that fail to enforce age restrictions

Apple Inc is close to getting Indonesia to lift its ban on iPhone 16 sales, after President Prabowo Subianto gave his approval for the government to accept a US$1 billion (RM4.5 billion) investment from the US tech giant, according to people familiar with the matter.

Apple close to winning Indonesian approval to end iPhone 16 ban

IPOH (Dec 19): The Malaysian Communications and Multimedia Commission (MCMC) and Digital Perak Corporation Holdings (DPCH) signed a memorandum of understanding (MOU) on Thursday, to support the implementation of the smart city programme in Ipoh.

 MCMC, Digital Perak ink MOU on implementing smart city programme in Ipoh — Fahmi

Sony Group said on Thursday it will invest about ¥50 billion (US$320 million or RM1.44 billion) to acquire new shares of Kadokawa, raising its stake in the Japanese media powerhouse to around 10% and becoming Kadokawa's top shareholder.

Sony to become top shareholder of media powerhouse Kadokawa

KUALA LUMPUR (Dec 19): Malaysia’s e-commerce income grew by 4% to RM918.2 billion in the first nine months of 2024 (9M2024), with the highest surge recorded in the second quarter (2Q), amounting to RM309.8 billion, the Department of Statistics Malaysia (DOSM) said.

Malaysia’s 9M2024 e-commerce income reaches RM918.2b — DOSM

(Dec 19): Bitcoin briefly sank below US$100,000 (RM450,441) as the US Federal Reserve’s cautious outlook for interest-rate cuts hurt speculative investments.

Bitcoin tests US$100,000 after Fed spurs worst drop since September

KUALA LUMPUR (Dec 19): Telekom Malaysia Bhd (KL:TM) has signed a memorandum of understanding (MOU) with Petroliam Nasional Bhd’s (Petronas) digital arm Petronas Digital Sdn Bhd and Gentari Sdn Bhd to accelerate digital transformation and sustainable innovation for industries and the nation.

TM, Petronas and Gentari ink MOU to drive digital transformation for industries

Apple is in talks with Tencent and TikTok owner ByteDance about integrating their artificial intelligence (AI) models into iPhones sold in China, according to three sources familiar with the matter.

Apple in talks with Tencent, ByteDance to roll out AI features in China — Reuters

BENGALURU (Dec 18): Micron Technology forecast quarterly revenue and profit below Wall Street estimates on Wednesday, sending shares lower as weak demand for consumer-centric products such as personal computers and smartphones impacts the chipmaker's business.

Micron shares tumble as quarterly forecast signals sluggish consumer demand

AS we embark on a transformative era defined by technological progress, artificial intelligence (AI) is set to reshape industries and catalyse innovation on an unprecedented scale. This evolution presents remarkable opportunities for economic and societal growth. However, unlocking this potential goes beyond merely adopting new technologies; it requires visionary leadership that recognises AI’s broader implications.

Collaborative C-suite leadership in cyber can unlock AI-driven innovation for growth

NEW YORK (Dec 19) : Federal Reserve chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin.

Powell says Fed cannot hold bitcoin, not seeking to change that

Main-Market listed Lotus Circular Bhd (KL:LOTUSCIR) is acquiring two waste recycling companies — Earthwise Resources Sdn Bhd and Expert Resources Management Sdn Bhd — controlled by its director and major shareholder Datuk Wong Sak Kuan for RM100 million, to expand its footprint in the business.

Lotus Circular buys two waste recycling firms controlled by its major shareholder for RM100 mil

Europe’s top fashion houses will reluctantly conclude that high profit margins are a luxury they can no longer afford in 2025. The likes of LVMH, Kering and Chanel aggressively hiked prices on handbags, shoes and jackets during the pandemic. As demand from Chinese consumers rapidly cools, CEOs will be forced to rethink.

Luxury firms will warily cut prices to boost sales

Chai Woon Yun, daughter of Aset Kayamas founder Tan Sri Datuk Chai Kin Kong, has become the largest shareholder of Kanger International Bhd through a private placement.

Daughter of Aset Kayamas founder is now Kanger’s largest shareholder

The US economy expanded at a faster pace in the third quarter than previously estimated, owing in part to stronger consumer spending and exports.

US GDP revised up to 3.1% on stronger consumer spending, exports

The number of Americans filing new applications for jobless benefits fell more than expected last week, consistent with a gradual cooling in labour market conditions.

US weekly jobless claims fall more than expected

Pentamaster Corp Bhd (KL:PENTA) on Thursday proposed to privatise its 63.9%-owned Hong Kong-listed Pentamaster International Ltd (PIL) with a partner in an exercise that would raise its stake to 71%.

Pentamaster, partner to privatise HK-listed unit; confirms The Edge’s report

The Court of Appeal has granted UEM Sunrise Bhd’s (KL:UEMS) wholly-owned unit UEM Land Bhd leave to challenge the Inland Revenue Board’s (IRB) additional tax assessment and penalty of RM8.49 million.

Appellate court grants UEM Sunrise unit leave to challenge additional tax assessment

The government will implement direct intervention measures to eradicate hardcore poor in 10 of the districts with the highest poverty rates in the country, eight of which are in Sabah, under the 13th Malaysia Plan (13MP).

Direct intervention to eradicate hardcore poor in 10 poorest districts under 13MP — Rafizi

Companies that spent billions on poorly timed acquisitions in recent years are now offloading those assets at knockdown prices. 
&nbsp; 
Alibaba Group Holding Ltd announced on Tuesday it’s going to sell Chinese department-store chain Intime to a local apparel group for US$1 billion (RM4.47 billion).

Companies that spent billions on M&A are now selling for peanuts

UEM Group Bhd, the wholly-owned infrastructure arm of Khazanah Nasional Bhd, has been silent for a long time.

Some in the diversified group say the last time it gave an interview to the media was when Datuk Mohd Izzaddin Idris was at the helm. He left in October 2018, after holding the ...

Cover Story: Sleeping Giant UEM Group Stirs

Property developer Mah Sing Group Bhd (KL:MAHSING) has acquired 5.99 acres of land in Taman Pelangi, Johor, from S P Setia Bhd (KL:SPSETIA) for RM156.8 million to develop a premium serviced apartment project.

Mah Sing acquires Johor land from S P Setia for RM157 mil

KUALA LUMPUR (Dec 19): Datin Seri Rosmah Mansor has pronounced the court’s decision to acquit her of all 17 charges in her money-laundering and tax evasion case as “justice”.

Rosmah celebrates acquittal: ‘This is what I call justice’

High Court judge Wan Muhammad Amin Wan Yahya has taken over a civil suit against former prime minister Datuk Seri Najib Razak's wife, Datin Seri Rosmah Mansor, and a Singaporean woman, Shabnam Naraindas Daswani, involving the purchase of luxury goods using funds allegedly diverted from 1Malaysia Development Bhd (1MDB).

Third judge takes over 1MDB's US$346 mil suit against Rosmah and Singaporean woman

KUALA LUMPUR (Dec 19): The Malaysian Anti-Corruption Commission (MACC) has announced that no charges will be filed against any parties involved in the 1BestariNet project tender under the Ministry of Education (MOE).

No charges filed in 1BestariNet tender investigation, says MACC

Indonesia will increase its export levy for crude palm oil (CPO) to 10% from the current 7.5% to finance higher biodiesel subsidies, its chief economic minister said on Thursday.

Indonesia to hike crude palm oil export levy to 10%

The government’s proposal to introduce a Diagnostic-Related Group (DRG) payment system to regulate private healthcare costs may face significant challenges and feasibility issues, according to Hong Leong Investment Bank (HLIB).

Govt's proposed DRG payment system may face challenges — HLIB

The costly truth about US government shutdowns: They don’t save taxpayers a dime.

Trump, Musk threaten government shutdown. Here’s what that costs

KUALA LUMPUR (Dec 19): Aluminium products maker Winstar Capital Bhd (KL:WINSTAR) is expecting sales to grow in 2025, with the removal of China’s export tax rebates for aluminium products, and the upcoming implementation of the fifth iteration of Malaysia’s large scale solar programme (LSS5).

Winstar eyes sales growth amid China tax shift, LSS5 opportunities

Mynews Holdings Bhd (KL:MYNEWS) reported a significant jump in net profit to RM3.76 million for the fourth quarter ended Oct 31, 2024 (4QFY2024), a nearly fourfold increase compared to RM947,000 in the same period last year. This marks the fifth consecutive profitable quarter for the convenience store operator.

Mynews plans more new stores after 4Q profit jumps nearly fourfold as sales climb

(Dec 19):&nbsp;Global investors are looking to Southeast Asia for some shelter, as they brace for uncertainties surrounding Donald Trump’s trade policies, boosting prospects for the region’s stocks in the coming year.

Southeast Asian stocks to offer shelter amid Trump threat — analysts

KUALA LUMPUR (Dec 19): Catcha Digital Bhd (KL:CATCHA) has announced its acquisition of a 70% stake in Tastefully Malaysia Sdn Bhd for RM7.6 million cash, to strengthen its position in the integrated digital and offline advertising space.

In a bourse filing on Thursday, Catcha Digital sa...

Catcha Digital acquires 70% stake in Tastefully to tap into consumer food expo sector

Malaysian Resources Corp Bhd (KL:MRCB) has confirmed it has withdrawn from a Berjaya-led consortium which is bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project.

In a filing, MRCB said the group issued a notice of termination to consortium partner Berjaya Rail Sdn Bhd to terminate the teaming agreement for the submission of a non-binding conceptual proposal to MyHSR Corporation Sdn Bhd in relation to the project.

MRCB confirms withdrawal from Berjaya-led HSR consortium

THE general perception is that PLUS Malaysia Bhd is sitting on a lucrative toll concession. But Datuk Amran Hafiz Affifudin, managing director of UEM Group Bhd, tells The Edge that such a perception is different from reality.

“Sometimes people on the outside think that it [PLUS highway ...

Cover Story: PLUS’ concession not as lucrative as perceived, says UEM Group MD

The US Federal Reserve’s (US Fed) intent to adopt a slower pace of interest rate easing in 2025 is expected to prompt slight downward pressure on the domestic market, analysts said.

US Fed’s hawkish pivot ‘slightly negative’ for Malaysian market, analysts say

THERE has been speculation for the past few weeks that healthcare support services and property and facility solutions provider UEM Edgenta Bhd (KL:EDGENTA) will be taken private by its 69.14% parent company UEM Group Bhd, the infrastructure arm of Khazanah Nasional Bhd.

“I cannot comme...

Cover Story: Depressed valuation sparks speculation about UEM Edgenta

There is noticeable shift towards local fast-moving consumer goods amid prolonged boycott of international brands following the Israel-Gaza conflict, according to Hong Leong Investment Bank (HLIB).

HLIB: Consumer trends shift to local fast-moving consumer goods as boycotts persist

UWC Bhd's (KL:UWC) net profit rose 49.2% to RM6.5 million in the first quarter ended Oct 31, 2024 (1QFY2025) from RM4.35 million a year ago, lifted by increasing orders from the semiconductor industry.&nbsp;

Contributions from its acquired subsidiaries, MCE Technologies Sdn Bhd (MCET) and MCT (Thailand) Co Ltd, also add to the earnings.

UWC's net profit jumps 49% as revenue nearly doubles on increased semiconductor orders 

KUALA LUMPUR (Dec 19): Telekom Malaysia Bhd (KL:TM) has signed&nbsp;a memorandum of understanding&nbsp;(MOU) with Petroliam Nasional Bhd’s (Petronas) digital arm Petronas Digital Sdn Bhd and Gentari Sdn Bhd to accelerate&nbsp;digital transformation and sustainable innovation for industries and the nation.&nbsp;

Technology

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