Datuk Seri Ab Rauf Yusoh will remain Melaka Chief Minister should Barisan Nasional (BN) and its strategic partners win the state election next month, said Datuk Seri Dr Ahmad Zahid Hamidi.

Ab Rauf to remain Melaka CM if BN wins state polls — Ahmad Zahid

Prime Minister Datuk Seri Anwar Ibrahim has urged the country's industrial sector to be more dynamic and creative in responding to rapid changes in the global economy, particularly through the mastery of new technologies, research and development (R&D), and innovation.

Anwar urges industry to embrace technology, innovation to stay competitive

Malaysia's success will depend on its ability to elevate many small and medium enterprises (SMEs) into key industry players and help them penetrate international markets, said Prime Minister Datuk Seri Anwar Ibrahim.

Elevating SMEs to be global players key to Malaysia’s success — Anwar

The tech-heavy Nasdaq edged higher on Friday, helped by signs of stabilisation in some tech stocks, while telecom shares tumbled on concerns that SpaceX's entry in the sector could heighten competition and threaten their market share.

Nasdaq ticks up as tech stocks steady; SpaceX worries hit telecoms

A NYSE options exchange has suspended trading, causing other exchanges to disregard quotes from the venue.

NYSE options exchange trading halted by ‘technical issue’

US consumer sentiment edged down to a five-month low in October as high prices and rising interest rates depressed morale.

US consumer sentiment slips to five-month low on inflation

Former Atlan Holdings Bhd (KL:ATLAN) CEO Datuk Lee Kok Khee has become a substantial shareholder in AWC Bhd (KL:AWC) through a share purchase by Mastrack Sdn Bhd, a company he owns.

Former Atlan CEO Lee Kok Khee emerges as substantial shareholder in AWC

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

Zetrix AI, Astro, Maxis, CelcomDigi, Yinson, Malakoff, Solarvest, YTL Hospitality REIT, Hong Leong Capital, Redtone Digital, Affin Bank & Comfort Gloves

Global data centre spending is expected to hit US$1 trillion (RM4.1 trillion) in 2026 and more than double to US$2.1 trillion by 2028, BofA Global Research estimated in a note on Friday, driven by growing demand for and development of AI services.

Data centre spending to more than double to US$2.1 tril by 2028

Zetrix AI Bhd (KL:ZETRIX) has offered 788.83 million employee share options at a 28% discount to its Friday closing price, with recipients able to exercise them immediately, as the group faces cash flow pressures and a sukuk covenant breach.

Zetrix AI offers 789 mil share options at 28% discount amid cash flow, sukuk pressures

Datuk Seri Robin Tan Yeong Ching has been appointed executive deputy chairman of REDtone&nbsp;Digital Bhd (KL:REDTONE).

Vincent Tan’s son named REDtone Digital executive deputy chairman

Zetrix AI Bhd (KL:ZETRIX) said it will hold another sukukholders’ meeting after parties failed to reach a deal on Friday to address a covenant breach involving its RM2 billion sukuk by the deadline.

Zetrix AI sukukholders fail to reach deal, new meeting planned

Parti Bersama Malaysia (Bersama) leader Datuk Seri Rafizi Ramli has instructed his lawyers to file a defamation suit against Human Resources Minister Datuk Seri R Ramanan over remarks made at a press conference on Thursday.

Rafizi to sue Ramanan after minister declines legal action over RM9.5 mil claim

Astro Malaysia Holdings Bhd (KL:ASTRO) is proposing to dispose of its broadband business to Maxis Bhd (KL:MAXIS) for up to RM83 million in cash, as the group seeks to refocus resources on its core content, advertising and entertainment businesses.

Astro to sell broadband business to Maxis for up to RM83 mil

Zetrix AI Bhd (KL:ZETRIX) has offered 788.83 million employee share options at a 28% discount to its Friday closing price, with recipients able to exercise them immediately, as the group faces cash flow pressures and a sukuk covenant breach.&nbsp;

Two third-generation members of the Yeoh family have taken up alternate executive director roles at YTL Hospitality Real Estate Investment Trust (KL:YTLREIT), with Yeoh Keong Shyan switching from representing his aunt to his father, while Yeoh Pei Xien has been newly appointed to the role.

Yeoh family board changes continue at YTL Hospitality REIT with two alternate director moves

UK-based insurer Prudential plc has emerged as a substantial shareholder in Solarvest Holdings Bhd (KL:SLVEST), with a 5.25% stake in the clean energy and solar photovoltaic specialist.

UK-based insurer Prudential plc emerges as substantial shareholder in Solarvest with 5.25% stake

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

Public confidence in Malaysia’s law enforcement agencies and institutions depends on the rule of law being applied fairly and consistently to all. This means allegations of wrongdoing must be investigated and tried without fear or favour. It also means every person charged is entitled to the pres...

Opinion: G25 statement on due process and public service

China should offer more support to families to stabilise the number of new births, the cabinet said, as policymakers seek to address the country's population decline and record-low birth rate.

The government should refine policies including those related to marriage, childbirth, child-rearing and education, and optimise taxation, social security and housing to build a "fertility-friendly society", the State Council, or cabinet, said at a meeting on Friday, according to a readout aired by state television.

China aims to stabilise number of new births with policy support

JSW Steel Ltd’s fiscal second-quarter (2Q) profit more than tripled beating expectations, as India’s infrastructure buildout drove prices higher.

JSW Steel’s 2Q profit more than triples on higher prices

Malaysian navigation app TuJu has apologised to users for recent technical disruptions and expects to restore stable navigation services within two weeks.

TuJu apologises for losing its way, targets recovery within two weeks

CelcomDigi Bhd’s (KL:CDB) wholly-owned subsidiary, CelcomDigi Telecommunications Sdn Bhd, has lodged a proposed Islamic medium-term notes (sukuk) programme of up to RM10 billion in nominal value with the Securities Commission Malaysia (SC).

CelcomDigi unit seeks to raise up to RM10b for refinancing, capex, working capital

The Malaysian Highway Authority (LLM) and Prosignal Consortium Sdn Bhd have been asked to provide a detailed explanation of problems affecting users of the local navigation app TuJu, including their causes, technical issues and corrective measures.

Malaysian Highway Authority, Prosignal should provide explanation over TuJu app glitches — Fahmi

Developers of a new US-backed undersea data cable linking Malaysia, Vietnam, Singapore and Thailand will this month select a cable supplier between Japan's NEC and France's Alcatel Submarine Networks, a project executive told Reuters.

New US-backed Southeast Asia data cable to pick NEC or Alcatel as supplier, developer says

The tech-heavy Nasdaq edged higher on Friday, helped by signs of stabilisation in some tech stocks, while telecom shares tumbled on concerns that SpaceX's entry in the sector could heighten competition and threaten their market share.

Ahmad Zaki Resources Bhd (KL:AZRB) has secured a three-month restraining order that will shield it from legal action by its creditors, giving the group time to work out a proposed scheme of arrangement.

AZRB gets three-month restraining order from High Court against creditors

Wall Street's main indexes were set to open lower on Friday as caution prevailed after a sharp selloff in AI-linked stocks, while telecom stocks tumbled on fears that intensified competition from SpaceX could erode their market share.

Wall St set to open lower after AI-led selloff; SpaceX worries hit telecoms

Former Atlan Holdings Bhd (KL:ATLAN) CEO Datuk Lee Kok Khee has become a substantial shareholder in AWC Bhd (KL:AWC) through a share purchase by Mastrack Sdn Bhd, a company he owns.

Investors see the auditor’s opinion, but rarely the evidence and professional judgements behind it. Their confidence in financial reporting therefore depends not only on the auditor’s independence, but also on whether the audit work can withstand independent scrutiny. This raises a question central to market confidence. Who checks whether the auditor has obtained sufficient appropriate evidence to support the opinion expressed?

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