<div class=newsTextDataWrapInner><p data-qa-component="item-headline" data-rc-highlight="headline">HELSINKI (Oct 22): Finnish telecom equipment maker Nokia reported a bigger than expected rise in quarterly earnings on Thursday and maintained its full-year financial outlook.</p></div>

<div class=newsTextDataWrapInner><p>Comparable operating profit rose to 605 million euros (US$680.20 million) in the third quarter of 2026 from a year-ago 448 million euros, above the average estimate of 453 million euros in a company-provided poll.</p></div>

<div class=newsTextDataWrapInner><p>Comparable net sales rose 10% to 5.15 billion euros in the quarter, versus a company-provided consensus of 5.05 billion euros.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Demand from AI and cloud customers has become an increasingly important growth driver for Nokia.</p></div>

<div class=newsTextDataWrapInner><p>Group net sales to AI and cloud customers grew by 123% year-on-year, while the order intake to those customer groups rose by 118% to 1.5 billion euros.</p></div>

<div class=newsTextDataWrapInner><p>"We expect our combined Optical and IP Networks businesses to grow between 25% and 30% in 2027," CEO Justin Hotard said in a statement.</p></div>

<div class=newsTextDataWrapInner><p>"Overall, growth is accelerating, operating leverage is becoming more visible and I'm confident in the long-term shareholder value Team Nokia is creating," Hotard said.</p></div>

<div class=newsTextDataWrapInner><p>Nokia's share price is up 48% year-to-date.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Liza Shireen Koshy</em></p></div>


HELSINKI (Oct 22): Finnish telecom equipment maker Nokia reported a bigger than expected rise in quarterly earnings on Thursday and maintained its full-year financial outlook.

Nokia's third-quarter profit beats expectations amid booming AI sales

Investors are navigating a crowded mix of narratives, from geopolitical tensions and supply chain disruption to energy price volatility, inflation uncertainty and the continuing debate over AI. Yet beneath the noise lies a constructive backdrop, supported by resilient economic growth and strong corporate earnings across regions, especially in the US.

Accelerating AI adoption powers further upside for global markets

Oil held its biggest gain in about a week as intensifying attacks on Saudi Arabia stoked fears of supply disruptions. West Texas Intermediate traded near US$99 a barrel after closing 2.4% higher in the previous session. Brent settled above US$113.

Oil holds biggest gain in week as Saudi attacks fan supply risks

Asian stocks were set to extend losses Friday, tracking a slump on Wall Street as a rout in technology giants and escalating Middle East hostilities drove investors toward the safety of bonds.

Asian stocks to slide on tech rout, bonds rally

The Trump administration is seeking to restrict American investment in Chinese biotechnology companies, potentially complicating financial ties at a time when US drugmakers are increasingly turning to China for new medicines.

US proposes curbs on investment in Chinese biotech firms

Wall Street shunned stocks as a technology rout and Middle East risks drove investors to the safety of bonds, reducing bets on another Federal Reserve rate hike in 2026.

Stocks fall as AI jitters ease bets on Fed hikes

The tech-heavy Nasdaq slid more than 2% on Thursday as growth stocks weakened after earnings from mega-caps Tesla and Meta did little to address artificial intelligence (AI)-related concerns, with a recovery in oil prices further adding to market unease.

Wall Street sinks as Nasdaq falls over 2% on AI cost worries

Mortgage rates fell for the first time in nine weeks, providing little comfort to sellers facing the slowest US housing market in at least 25 years.

US mortgage rates decline for first time in nine weeks, to 7.32%

The Ministry of Finance (MOF) said Bank Simpanan Nasional, a statutory body under its purview, has paid RM13.52 million in claims to victims of a fake investment scheme run by a former employee at its Kuching branch.

BSN has refunded 92.9% of claims in Kuching investment scam — MOF

US Treasuries surged — sending the US 10-year yield back below 5% — as investors sought shelter from tumbling share prices for companies leading the boom in spending on artificial intelligence (AI).

US 10-year yield falls below 5% as investors flock to safe havens

Malaysia must strengthen gas supply security, invest in infrastructure and prepare for future demand to maintain a reliable and competitive energy system amid geopolitical uncertainty.

MyGAS 2026: Securing Malaysia’s gas future amid global uncertainty 

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


Zetrix AI, RHB Bank, TSH Resources, RedPlanet, Aizo Group, BMS, Harbour-Link, Jati Tinggi, TNB, Kerjaya Prospek, Exsim Hospitality, Pavilion REIT and Foodie Media

<p>KUALA LUMPUR (Oct 22): A former deputy religious affairs minister has urged the government to look into the financial health of Urusharta Jamaah Sdn Bhd (UJSB), the company set up by the government in 2018 to take over Tabung Haji's troubled assets.&nbsp;</p>

<p>Datuk Ahmad Marzuk Shaary (PN-P...

Former deputy religious affair minister wants scrutiny of UJSB's financial health, cite NexG disposal 

<p>Temasek Singapore president Png Chin Yee is set to join the board of CapitaLand Investment Ltd, while chairman Miguel Ko is retiring from the real estate asset manager.</p>


Singapore’s CapitaLand adds Temasek executive to board

<p>The Ministry of Finance (MOF) will allocate RM1 billion to Urusharta Jamaah Sdn Bhd (UJSB) in 2027 for early sukuk redemption, with the funds also aimed at strengthening Lembaga Tabung Haji’s (TH) cash flow.</p>


MOF to inject RM1 bil into Urusharta Jamaah for sukuk redemption in 2027

<p>Meridian Bhd (KL:MERIDIAN) said trading in its shares will be suspended from Oct 30 after Bursa Malaysia Securities rejected the company's fifth application for more time to submit a regularisation plan.</p>

<p>The financially distressed property developer added that it faces delisting on Nov 3 unless it appeals by Oct 29.</p>


Meridian to be suspended on Oct 30, faces delisting after latest bid to delay regularisation plan rejected

<p>Aizo Group Bhd (KL:AIZO) said its RM36.79 million sewage system upgrading subcontract in Terengganu will not proceed after the project owner cancelled the main contract awarded to its contractor.</p>


Aizo's RM37m sewage subcontract terminated, faces potential claims

<p>The Ministry of Finance (MOF) said Bank Simpanan Nasional, a statutory body under its purview, has paid RM13.52 million in claims to victims of a fake investment scheme run by a former employee at its Kuching branch.</p>


<p>The tech-heavy Nasdaq slid more than 2% on Thursday as growth stocks weakened after earnings from mega-caps Tesla and Meta did little to address artificial intelligence (AI)-related concerns, with a recovery in oil prices further adding to market unease.</p>


<p>US Treasuries surged — sending the US 10-year yield back below 5% — as investors sought shelter from tumbling share prices for companies leading the boom in spending on artificial intelligence (AI).</p>


<p>Demand for Indian billionaire Mukesh Ambani's US$3.2 billion Jio Platforms IPO swelled to more than five times the shares on offer on Thursday, and the retail portion of the country's biggest ever stock offering was fully subscribed.</p>

<p>The offering is the first by Ambani's Reliance Industries in 20 years and a key part of the billionaire's long-term vision to transform the group from an oil-to-chemicals company into a broader consumer, retail and technology business.</p>


Ambani's record Jio Indian IPO subscribed over five times as demand surges

<p>Malaysia's export success is well documented. Electronics, palm oil and manufactured goods dominate the discussion. Yet some of our companies have built substantial businesses overseas doing something quite different such as designing water treatment facilities, operating power stations and providing engineering services.</p>


Opinion: Malaysia's industrial know-how has a world of opportunity

<p>Taiwan’s stock exchange will shut on Friday as Typhoon Champi approaches the island, bringing heavy rainfall and strong winds and prompting authorities to shut offices and schools in capital city Taipei.</p>


Taiwan’s US$5 tril stock market to close on Friday as Typhoon Champi nears

<p>The Pentagon plans to buy at least 850 additional Lockheed Martin Corp F-35 fighter jets, in what would be the biggest contract in the programme’s quarter-century history that signals the stealth warplane will remain a major part of the US arsenal for many years.</p>


US agrees to buy at least 850 more F-35 fighter jets from Lockheed 

<p>Malaysia must strengthen gas supply security, invest in infrastructure and prepare for future demand to maintain a reliable and competitive energy system amid geopolitical uncertainty.</p>


<p>Saudi state oil company Aramco has ordered the evacuation of its headquarters in Dhahran, six people with knowledge of the matter told <em>Reuters </em>on Thursday, as fighting between the world's largest crude exporter and Yemen's Iran-aligned Houthis intensifies.</p>


Saudi Aramco tells staff to evacuate Dhahran as clashes with Yemen's Houthis continue

<p>American Airlines Group Inc cut its full-year outlook again and issued a wide range for its fourth-quarter loss target, highlighting how the industry is struggling to predict its performance amid persistently high fuel prices.</p>


American Airlines cuts outlook again, sees higher fuel bill this year

<p>The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has unveiled the SCALE Action Plan for 2027, outlining five strategic priorities to address long-standing structural challenges faced by micro, small and medium enterprises (MSMEs).</p>

<p>Minister Steven Sim said the action plan comprises five strategic priorities, which make up the acronym SCALE, namely S - SME Redefinition, C - Cash Flow Protection, A - AI for MSMEs, L - Local Content Requirement, and E - Easing MSME Financing.</p>


SCALE Action Plan 2027 to tackle MSME structural challenges — Steven Sim

<p>Robert Bosch plans to legally separate its automotive-parts business, as the world’s largest car supplier races to cut costs and respond to intensifying competition from China.</p>


Bosch to separate auto-parts unit as Chinese rivals gain ground

<p>Asian stocks were set to extend losses Friday, tracking a slump on Wall Street as a rout in technology giants and escalating Middle East hostilities drove investors toward the safety of bonds.</p>


<p>The US Treasury Department on Thursday proposed new regulations to bar large institutional investors from buying up single-family homes, the latest step in the process to implement the most controversial section of the sweeping bipartisan housing law passed this summer.</p>
