<div class=newsTextDataWrapInner>In The Edge Malaysia this week — It is our interview with Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad.</div>
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EDGE WEEKLY: New law to drive energy efficiency

Pengurusan Air Selangor Sdn Bhd (Air Selangor) is exploring the use of advanced water treatment technologies through artificial intelligence (AI) to monitor, predict and detect the quality of raw water from Selangor’s rivers before it is treated at the state’s 34 water treatment plants.

Air Selangor looking into AI solutions to better manage water pollution

Wheat fell as weak demand and improving weather in the US overshadowed an outsized interest-rate cut from the Federal Reserve.
 
Futures in Chicago dipped as much as 1.8%, extending losses this week amid weaker exports for European Union soft wheat and better conditions for US winter wheat planting.

Wheat drops as weak demand, better US weather outweigh Fed cut

Europe's incoming antitrust chief Teresa Ribera plans to loosen the bloc's competition rules to strengthen European industries and speed up regulatory scrutiny of merger deals, according to an interview in Spanish newspaper El Pais on Thursday.

Incoming EU antitrust chief Ribera plans to ease antitrust rules, says El Pais

Treasury Secretary Janet Yellen said that the Federal Reserve’s interest-rate cut Wednesday was “a very positive sign for where the US economy is,” reflecting progress in bringing down inflation and a determination to protect the job market.

Yellen says US Fed cut ‘positive sign,’ policy still restrictive

The US Senate will prepare temporary spending legislation that would avert a partial government shutdown at the end of the month, Senate Democratic Leader Chuck Schumer said on Thursday.

US Senate to move on stopgap bill to avoid partial government shutdown

Walmart Inc customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases. The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing.

Walmart plans instant bank payments, cutting out card networks

Sales of existing US homes fell in August to a 10-month low on persistent affordability challenges ahead of a recent decline in mortgage rates.

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualised rate, according to figures released on Thursday from the National Association of Realtors (NAR).

US existing-home sales drop to lowest level since October

Here is a brief recap of some corporate announcements that made the news on Thursday.

Pharmaniaga, Country Heights, EcoWorld, SSF, United Malacca, Ancom Nylex 

Wall Street’s biggest banks are divided over how fast and deep the US Federal Reserve will cut interest rates over the next year, setting the stage for jittery financial markets until the outlook clears.

Big banks are split on how fast the Fed will cut interest rates

Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction and forecast more cuts were on the horizon.

Wall Street jumps with tech stocks in the lead after Fed kicks off easing cycle

The 50-basis-point (bps) policy rate cut by the US Federal Reserve early on Wednesday is expected to stimulate domestic consumption in the US and keep its economy from slowing too rapidly.

US Fed rate cut fuels optimism for sustained Malaysian export recovery after August growth beats

PUTRAJAYA (Sept 19): The Immigration Department is conducting a review and will implement extensive reforms to its work processes and service delivery,&nbsp;in response to concerns raised by the Malaysian Anti-Corruption Commission (MACC)&nbsp;chief commissioner Tan Sri Azam Baki.

Immigration Dept to reform work processes following MACC chief’s feedback — DG

(Sept 19):&nbsp;India’s overtaking of China in some global gauges will likely usher in a bigger influx of foreign flows, giving equities in the South Asian country another boost.

India’s eclipsing of China in MSCI global stock gauges to drive flows

The number of Americans filing new applications for unemployment benefits dropped to a four-month low last week, pointing to solid job growth in September and offering confirmation that the economy continued to expand in the third quarter.

US weekly jobless claims drop to four-month low

Intel said on Thursday it had no plans to sell its majority stake in Mobileye Global, sending shares of the self-driving tech firm up more than 13%.

Intel says has no plans to divest majority stake in Mobileye

Eco World Development Group Bhd (KL:ECOWLD) reported a 21.26% year-on-year increase in its third quarter net profit, driven by improved earnings contributions from its Malaysian operations.

EcoWorld's 3Q profit jumps 21% as revenue and margin improve; 10-month sales exceed FY2024 target

The US Federal Reserve’s (Fed) recent interest rate cut is expected to ease capital inflows into Malaysia, boosting the ringgit and supporting local equities, according to economists and market analysts.

US Fed's 50-bp rate cut seen unleashing funds into Malaysian assets 

Sales of existing US homes fell in August to a 10-month low on persistent affordability challenges ahead of a recent decline in mortgage rates.

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualised rate, according to figures released on Thursday from the National Association of Realtors (NAR).

Country Heights Holdings Bhd (KL:CHHB) said it will request a contractor for the group's residential project in Kedah to withdraw its legal action against the group's subsidiary, Country Heights Smart Living Sdn Bhd, over alleged unpaid payments.

Country Heights to ask contractor to withdraw legal action over alleged unpaid sums

Malaysia's air passenger traffic rose 12.7% year-on-year (y-o-y) to 8.7 million passengers in August this year versus 7.7 million a year earlier, thanks to a surge in international travel driven by expansion of international routes and introduction of new flights, according to the Malaysian Aviation Commission (Mavcom).

Malaysia’s air passenger traffic up 12.7% y-o-y in August, but slipped 1.5% m-o-m — Mavcom

he Bank of England kept interest rates at 5.0% on Thursday, saying it would be careful about future cuts, and also held off from running down its bond holdings at a faster pace, avoiding extra budget strains for finance minister Rachel Reeves.

Cautious Bank of England hold rates, extends bond reduction plan

United Malacca Bhd (KL:UMCCA) said its net profit rose by nearly five times to RM13.29 million for its first quarter ended July 31, 2024 (1QFY2025), from RM2.68 million a year earlier, thanks to higher contributions from its Malaysian operations.

United Malacca’s 1Q net profit surges on higher contributions from Malaysian operations

KESM Industries Bhd (KL:KESM) slipped into the red in its fourth quarter ended July 31, 2024 (4QFY2024) with a net loss of RM977,000 versus a net profit of RM316,000 a year ago, as revenue fell amid lower sales from automotive chip processing.

KESM slips into the red in 4Q as revenue from automotive chip processing drops

Softer consumer demand in the first quarter ended July 31, 2024 (1QFY2025) had sent SSF Home Group Bhd’s (KL:SSF) net profit down by more than half compared with the same quarter a year ago.

SSF’s 1QFY2025 net profit more than halved amid softer consumer demand

EU antitrust regulators launched proceedings on Thursday to ensure that Apple complies with landmark rules requiring it to open up its closed ecosystem to rivals or risk a possible hefty fine.