The Johor Bahru High Court has reinstated a lawsuit filed by a Maybank customer who lost nearly RM60,000 in allegedly unauthorised online transfers after scanning a third-party QR code, ruling that the dispute must proceed to a full trial.

High Court reinstates customer's suit against Maybank over funds allegedly siphoned after QR scan

HSBC said on Wednesday consultations were underway, after the Financial Times (FT) reported that hundreds of jobs were at risk from the bank's adoption of artificial intelligence (AI).

UK unit job cuts: HSBC says 'consultations' underway amid AI adoption

European payment groups serving 130 million people, including Spain's Bizum, Italy's Bancomat and Brussels-based Wero, said on Wednesday they were joining forces to create a cross-border payments network as Europe seeks to curb its dependence on Visa and Mastercard.

European payments groups join forces to challenge US dominance

American Express said on Monday its credit cards can now be used at over 190 million merchant locations worldwide, with acceptance outside the US having more than doubled over the past four years.

AmEx widens global reach as card acceptance tops 190 mil merchant locations

Touch ’n Go Group has called for stronger collaboration among mobility, financial services, technology and regulatory sectors to strengthen the resilience of services that Malaysians rely on to travel, make payments and access digital financial services.

TNG Group calls for stronger cross-sector collaboration to safeguard mobility, payment resilience

The Madani government is finalising follow-up measures to address the concerns of local micro, small and medium enterprises (MSMEs) affected by competition from foreign e-commerce platforms, said Prime Minister Datuk Seri Anwar Ibrahim.

Govt to address MSME concerns over foreign e-commerce competition, says PM 

Singapore’s major financial institutions pledged to train more than 80,000 local employees in artificial intelligence (AI) skills as the country moves to cushion white-collar workers from potential job disruption.

Singapore’s finance firms to train 80,000 staff in AI skills, says deputy PM

US e-commerce retailer Amazon will invest US$3 billion (RM12.2 billion) to expand its India quick commerce business by 2030, two sources said, its biggest bet yet on a sector where rivals have raced ahead by popularising deliveries within minutes.

Amazon bets US$3b on India's fast-delivery boom — Reuters

Alipay+'s proposal to link with India's instant payments system for cross-border transactions has been stalled due to national security concerns in New Delhi and questions about the storage and use of customer data, three sources familiar with the discussions said.

India stalls Alipay+ payments link over security, data concerns — Reuters

Singapore has earmarked S$220 million (US$173 million or RM696.23 million) over three years to fund financial technology and innovation, as it seeks to stay competitive with other rival hubs including Hong Kong that are also investing in this area.

Singapore plans US$173 mil in fintech funding over three years

Axiata Group Bhd's fintech arm is valued at US$340 million after securing a US$20 million (RM81.7 million) investment from the International Finance Corp.

Boost Holdings still on the hunt for capital after World Bank's IFC investment  — Axiata

A consortium of buyout firm Advent and payment processor Stripe has decided to abandon its pursuit of fintech pioneer PayPal Holdings Inc, a potential deal that would have ranked as one of the biggest-ever leveraged buyouts, according to people familiar with the matter.

Advent, Stripe abandon US$50 bil pursuit of fintech pioneer PayPal — Bloomberg

Standard Chartered plc expects rebalancing of its global headcount due to the adoption of artificial intelligence (AI) but sees hiring growing in markets such as India, home to its largest global capability centres.

StanChart expects Indian tech hub roles to grow as AI expands

Rakuten Group Inc earned its first quarterly net income in six years thanks to surging growth in its financial technology (fintech) and e-commerce segments.

The Japanese online shopping mall operator reported a net income of ¥7.7 billion (US$49 million or RM199 million) in the three months ended in June, up from a ¥50.96 billion loss a year ago. Analysts on average expected a loss of ¥19.16 billion.

Rakuten earns first profit in six years with fintech boost

Amazon.com is introducing a new tool that allows its custom AI chips to run code written in the most popular AI coding language without modification, seeking to erode the advantage that underpins Nvidia's dominance in the AI computing market.

Amazon says its AI chips will work with popular coding language, challenging Nvidia

Former Taghill Holdings Bhd (KL:TAGHILL) chief executive officer and executive director Ng Wai Hoe has ceased to be a substantial shareholder in the construction outfit after disposing of 30 million shares.

Taghill’s former CEO Ng Wai Hoe ceases to be substantial shareholder 

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

Zetrix AI, Toyo Ventures, Mi Technovation, IHH Healthcare, Duopharma, LYC Healthcare, KIP REIT, GDB, MMAG, Jati Tinggi, Cosmos Technology, Eonmetall

The government is refining proposals to improve the national haze action plan, particularly regarding school closure directives and the Ministry of Education's (MOE) early preparations to ensure learning can continue if schools are forced to close.

Putrajaya fine-tuning national haze action plan, says PM

Nearly RM11 billion in Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (Sara) assistance had been disbursed to eligible recipients as of September 2026, according to the Ministry of Finance (MOF).

MOF: Nearly RM11b in STR, Sara aid disbursed as of September 2026 

Lumut Naval Shipyard Sdn Bhd (Lunas) remains committed to delivering the first littoral combat ship (LCS1) to the Royal Malaysian Navy (RMN), with the target for physical delivery revised to April 2027.

Lunas ready to hand over LCS1, targets physical delivery in 2027

The US Homeland Security Department is ordering the removal of DeepSeek products and third-party services using the Chinese AI model from US civilian agency IT systems, according to a notice published Monday.

US banning Chinese AI DeepSeek from govt agency IT systems

The benchmark S&P 500 and the Nasdaq Composite gained on Monday, as AI-related stocks rebounded from last week's sharp sell-off, with easing oil prices providing additional support ahead of key earnings reports this week.

S&P 500, Nasdaq climb as AI-linked stocks recover ahead of earnings

White House National Economic Council director Kevin Hassett said prices have been falling for items such as beef and eggs, though consumer price data for September shows overall inflation continues to need policy attention.

Hassett says CPI data shows inflation needs ‘some work’

Confidence among US homebuilders this month slumped to a 14-year low as mortgage rates above 7%, labour shortages and elevated supply costs batter the housing market.

US homebuilder sentiment drops to 14-year low on depressed sales

FIXED-income funds, particularly those managed by subsidiaries of Amanah Raya Bhd, may bear the brunt of the meltdown in Zetrix AI Bhd’s&nbsp;(KL:ZETRIX) shares.

Zetrix AI, which has lost a market capitalisation of RM5 billion in the last one month as the shares of its major shareholder...

Funds under AmanahRaya Investment Management may bear brunt of Zetrix meltdown

TWO private companies tasked with providing services on behalf of the government are now under scrutiny over the handling of funds collected from the public.

In one case, Zetrix AI Bhd (KL:ZETRIX) and its unit MyEG Sdn Bhd were suspended as collection agents for the Road Transport Depar...

Third-party handling of public funds in the spotlight

The forced selling of its founder’s shares has dragged Zetrix AI Bhd’s (KL:ZETRIX) share price down to 5.5 sen from 66 sen two months ago. It has also put the company in a potential breach of its RM2 billion sukuk covenant.

The Islamic debt papers require Wong Thean Soon — better known ...

Frankly Speaking: Zetrix’s increasingly vulnerable position

After more than half a century of political procrastination, environmental protests and funding shortfalls, Sydney finally has a second airport. But the new A$5.6 billion (US$4 billion or RM15.9 billion) site’s commercial prospects are already in question.

Sydney’s new US$4 bil airport opens with barely any flights

Brothers and Avangard Bhd (KL:Avangard) directors Datuk Seri Nazir Hussin Akhtar Hussin and Datuk Mubarak Hussain Akhtar Husin have filed a court action to challenge the Malaysian Anti-Corruption Commission’sasset declaration order as unconstitutional.

Brothers Nazir, Mubarak seek to challenge MACC asset declaration order as unconstitutional 

The Melaka High Court has found Umno Youth chief Datuk Dr Muhammad Akmal Salleh to have defamed DAP leader Teresa Kok over their halal certification row.

Umno Youth chief Akmal Salleh found to have defamed Teresa Kok, ordered to pay RM250k

Can common property be turned into an accessory parcel? Common property refers to shared areas in a stratified development collectively owned by all parcel owners, whereas an accessory parcel is a designated private space, such as a parking bay, assigned to a specific owner.

So, is such...

When common property is sold off

The Ministry of Finance (MOF) said on Monday that the government has not made any commitment to provide financial support to AirAsia Group Bhd (KL:AAGB), whether through guarantees, loans or public fund injections.

Govt has made no commitment to financial support for AirAsia, says MOF

Mi Technovation Bhd’s (KL:MI) unit has launched its Singapore listing that aims to raise over RM680 million for its next phase of global growth.

Mi Technovation unit launches Singapore IPO to raise over RM680 mil

Toyo Ventures Holdings Bhd (KL:TOYOVEN) has received an offer from its largest shareholder to take the ink manufacturer private at 28 sen per share.

Toyo Ventures’ largest shareholder offers to take it private at 28 sen per share

Zetrix AI Bhd (KL:ZETRIX) managing director Wong Thean Soon has sold another 600,000 shares, reducing his stake to 1.887% and further complicating the group’s efforts to remedy a breach of its RM2 billion sukuk covenant, which requires him to remain its largest shareholder, by the Oct 22 deadline.

Zetrix AI's TS Wong sells more shares as Oct 22 sukuk covenant deadline looms

KUALA LUMPUR (Oct 19): Mah Sing Group Bhd (KL:MAHSING) has opened the sales gallery for its high-rise residential development M Mira in Wangsa Maju, Setapak, which Phase 1 has already achieved a 93% take-up rate.

Mah Sing’s M Mira Phase 1 hits 93% take-up rate

The police have recorded statements from 15 individuals to assist in investigations into allegations of failure to transfer RM230.9 million in government revenue, involving MyEG Sdn Bhd (MyEG) and Zetrix AI Berhad. 
&nbsp;

MyEG probe: Police record statements from 15, including 12 JPJ officers

Penang-based antenna manufacturer Emits Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd ahead of its planned listing on the ACE Market of Bursa Malaysia in the fourth quarter of 2026.

ACE Market-bound Emits inks underwriting agreement with Mercury Securities

Here is a brief recap of some business news and corporate announcements that made the headlines on Monday: 
&nbsp;

IHH Healthcare Bhd (KL:IHH) is acquiring Afiniti Wellness in Medini, Iskandar Puteri, Johor, as part of plans to expand Gleneagles Hospital Johor into an integrated healthcare campus spanning approximately 18 acres.

IHH Healthcare to acquire Afiniti Wellness for Gleneagles Hospital Johor expansion

TWO more additions to the ACE Market will debut this week, starting with Penang-based EcoSys (Malaysia) Bhd (KL:ECOSYS) on Wednesday (Oct 14), followed by Selangor-based EGH International Bhd (KL:ECOGRP) on Friday (Oct 16).

EcoSys makes ultra-high-purity (UHP) precision engineering comp...

IPO Watch: Tech-related EcoSys and interior outfitter EGH International debut on ACE

JPMorgan Chase &amp; Co’s asset management arm and Alibaba Group Holding Ltd are set to be among cornerstone investors in printed circuit board maker Suzhou Dongshan Precision Manufacturing Co’s upcoming Hong Kong listing, according to people familiar with the matter. 
&nbsp;

JPMorgan and Alibaba are said among investors in Dongshan’s listing — Bloomberg

The Court of Appeal on Monday set aside a 2022 High Court judgment ordering&nbsp;fugitive financier Low Taek Jho, better known as Jho Low, and his father to pay US$3.7 billion to 1Malaysia Development Bhd (1MDB) and its four subsidiaries, and allowed the companies&nbsp;a fresh trial in a bid to get more compensation from the duo.

Court of Appeal allows 1MDB, 4 units new trial in bid to get more than US$3.7b from Jho Low, dad

Tech billionaire Elon Musk said on Monday that he would give every child in the United States a share in his SpaceX rocket company.

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