<div class=newsTextDataWrapInner><p>Here are some snippets from The Edge Malaysia's sit-down interview with Minister of Economy Rafizi Ramli following the recent launch of Padu. Read all about it in this week's edition of The Edge Malaysia.</p></div>

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<div class=newsTextDataWrapInner><p class="thumb-cap">NEWS: Why should everyone sign up for Padu?</p></div>
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Here are some snippets from The Edge Malaysia's sit-down interview with Minister of Economy Rafizi Ramli following the recent launch of Padu. Read all about it in this week's edition of The Edge Malaysia.

Interview with Minister of Economy Mohd Rafizi Ramli on Padu 

Meta is laying off employees across units including Instagram, WhatsApp and Reality Labs, the Verge reported on Wednesday, citing people familiar with the matter.

Meta lays off employees at WhatsApp and Instagram — report

The National Budget is set to be tabled on Friday. Regardless of what will be announced, Malaysian corporates must continue to focus on several areas, apart from wave two of e-invoicing.

Focusing on tax areas that matter most

Deere & Co is laying off an additional nearly 300 people in Iowa and Illinois as demand for farm equipment slows from the peak production of recent years.

Deere announces more layoffs in Iowa, Illinois during farm slump

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

Genting Malaysia, Varia, Salcon, SC Estate Builder, AME Reit, AME Elite, Ancom Nylex, MAHB, HPP Holdings, LKL, Bintai Kinden 

AME Real Estate Investment Trust's (KL:AMEREIT) proposed acquisition of four single-storey detached factories in Johor for RM119.45 million has been deemed fair and reasonable, according to independent adviser MainStreet Adviser Sdn Bhd.

AME REIT's proposed acquisition of Johor factories for RM119 mil is fair and reasonable, says independent adviser

PPG Industries will lay off 1,800 employees in the US and Europe and close various facilities as part of a cost-reduction programme, the paints and coatings maker said on Thursday.

PPG to lay off 1,800 employees in US, Europe in cost-cut push

Sage Therapeutics said on Thursday its finance chief will leave the company and the drugmaker plans to lay off more than 165 employees as part of a reorganisation plan that aims to focus on the launch of its postpartum depression pill.

Sage Therapeutics' CFO to leave, drugmaker to lay off over 165 employees

France's belt-tightening budget delivers a bigger tax hit than the government originally let on, according to new breakdowns that suggest a bigger dent in President Emmanuel Macron's pro-business legacy.

French budget packs bigger tax punch than first meets the eye

US industrial production fell in September, weighed down by a strike at Boeing and two hurricanes, including Helene.

Boeing strike, Hurricane Helene weigh on US industrial production

Wall Street gained on Thursday, with the S&P 500 and the Dow touching intraday record highs, driven by TSMC's upbeat forecast and a bigger-than-expected rise in monthly retail sales indicating a strong US consumer.

Wall Street rises on chip rally, upbeat retail sales data

<p>1Malaysia Development Bhd's (1MDB) lawyers claimed that Riza Aziz, the stepson of former prime minister Datuk Seri Najib Razak, had spent US$248 million in siphoned 1MDB funds on gambling, real estate, movie memorabilia, and to fund his company Red Granite Pictures and its motion picture productions.&nbsp;</p>


Riza Aziz spent 1MDB funds on gambling, real estate, memorabilia, and making movies, court told

<p>MOST analysts anticipate further upside to the share price of Malayan Banking Bhd (KL:MAYBANK) but are keeping a close watch on whether the country’s largest banking group can sustain a recent improvement in second-quarter net interest margin (NIM) after six straight quarters of sequential drops....

Cover Story 2: Upside seen for Maybank shares but interest margin, dividends under scrutiny

<p>The Malaysian Anti-Corruption Commission (MACC) is currently investigating 20 development projects initiated by the Selangor government which are suspected of involving corrupt activities, said its chief commissioner Tan Sri Azam Baki.</p>


MACC looking into 20 projects under MBI in graft probe

<p>KUALA LUMPUR (Oct 17): Some 70% of Malaysian consumers believe that the health and retirement benefits provided by their employers are insufficient to meet their future financial and medical needs, indicating heightened concerns over rising healthcare costs and the ability to achieve retirement savings goals, according to a survey done by Manulife.&nbsp;</p>


Some 70% of Malaysians believe employee benefits insufficient to meet future financial needs — survey

<p>Tesla Inc responded to blowback over its robots relying on remote human operators at an event last week with a video demonstrating the progress its prototypes are making in moving around on their own.</p>


Musk counters Tesla bot blowback with video asserting progress

<p>The Malaysian Investment Development Board (Mida) has approved 12 data centre investment projects that include data centre activities, cloud computing and data hosting with an investment of RM90.2 billion over the period from 2021 to June 30, 2024.</p>


Twelve data centre projects worth RM90.2b greenlit from 2021 to June 2024 — Miti

<p>TSMC, the world's largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54% jump in quarterly profit driven by soaring demand for chips used in artificial intelligence (AI).</p>


TSMC bullish on outlook as AI boom blows 3Q profit past forecasts

<p>Stacks of cash totalling RM600,000 were seized by the Malaysian Anti-Corruption Commission (MACC) during a raid on a rented house of the suspect in the sand mining concession case involving the Selangor Menteri Besar Incorporated (MBI) on Wednesday.</p>


Another RM600,000 in cash seized, ex-MBI COO remanded — MACC chief

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.</p>


<p>After months of withstanding political pressure and public bickering, Thailand's central bank on Wednesday delivered what the country's government had been pressing for: it cut its key interest rate, the first reduction since 2020.</p>


'No excuses': Thai central bank rate cut intensifies pressure on PM to spur economy

<p>The Federal Court on Thursday denied permission for the federal government and the Public Services Department (PSD) to challenge a decision won by retired Sabah and Sarawak High Court judges, who had been successful in getting a court judgment declaring that the amended Judges’ Remuneration Act 2014, which grants serving judges a 2% annual pension rise based on their last drawn salary, was unconstitutional.</p>


Top court blocks govt’s bid to challenge decision over retired Sabah and Sarawak judges' pension adjustment

<p>Prime Minister Datuk Seri Anwar Ibrahim said Budget 2025, which will be tabled in the Dewan Rakyat on Friday, will further drive economic growth and ensure justice for the people.</p>


Anwar promises fairness for all, vows to drive economic growth with Budget 2025

<p>Mechanical and electrical engineering services provider Bintai Kinden Corp Bhd (KL:BINTAI) said it has joined forces with a China-based company to jointly bid for construction projects in Malaysia.</p>


Bintai Kinden partners China-based firm to bid for construction projects

<p>The Dewan Rakyat on Thursday passed the amendment to the Federal Constitution on citizenship laws with more than the required two-thirds majority support.</p>

<p>In a bloc vote, 206 out of 207 Members of Parliament (MPs) present voted in favour of the Constitution (Amendment) Bill 2024, while one MP voted against it.</p>


Citizenship law amendments passed in Parliament with more than two-thirds majority

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>Varia Bhd (KL:VARIA) has secured a contract worth RM571.8 million from the Social Security Organisation (Socso) to build a rehabilitation centre in Setiu, Terengganu.</p>


Varia bags RM572m Socso rehabilitation centre project in Terengganu 

<p>Imprisoned former prime minister Datuk Seri Najib Razak did not check with SRC International Sdn Bhd's board on why the company needed a further RM2 billion loan as he expected them to do the necessary due diligence, the High Court heard on Thursday. &nbsp;</p>


Najib says didn't check with board why SRC needed additional loan, ‘had faith’ in them

<p>Malaysia Airports Holdings Berhad (KL:AIRPORT) (MAHB) reported passenger growth of 36.1 million for the third quarter of 2024, representing a 10% year-on-year (y-o-y) increase and coming close to pre-pandemic levels, according to its statement released on Thursday.</p>


MAHB’s 3Q2024 passenger movement up 10% y-o-y to 36.1 mil

<p>Genting Malaysia Bhd (KL:GENM) said the lawsuit filed by RAV Bahamas Ltd, seeking over US$600 million (RM2.57 billion) in damages related to Resorts World Bimini's operations, will not materially impact the group's financial results or operations.</p>


GenM says US$600m Bimini lawsuit won't impact its financial results, operations

<p>Higher profits enjoyed by global banks over the last two years could prove “fleeting,” consultants at McKinsey &amp; Co warned in their annual state of the industry report, predicting headwinds from lower interest rates and flagging loan demand.</p>
