Business

Malaysia's political crisis deepens as King intervenes to select a new Prime Minister after Muhyiddin Yassin's resignation. The country faces mounting public criticism over its pandemic response, with high infection rates and ongoing emergency measures challenging national leadership stability.

Japan approves a strategic semiconductor development project with TSMC, aiming to enhance technological capabilities and address global chip supply challenges in key industries like automotive manufacturing.

Chinese bubble tea brand Nayuki, founded in Shenzhen in 2014, plans to raise $656 million through Hong Kong stock market listing. Founders Peng Xin and Zhao Lin expected to achieve billionaire status following successful initial public offering.

Telecommunications giants Axiata Group and Telenor Asia have completed a landmark merger of their Malaysian wireless operations, creating a new tech leader. The combined entity, MergeCo, promises significant synergies, with pre-tax profits of 5.7 billion ringgit and strong financial prospects. Both parent companies will hold equal 33.1% stakes in the newly formed company.

Britain and Singapore are set to begin talks on a digital economic partnership, aimed at eliminating trade barriers and supporting tech innovation. This initiative is part of the UK's strategy to establish itself as a global technology hub following its exit from the European Union.

UEM Sunrise Bhd has partnered with Maybank Islamic's HouzKEY to help clients, including first-time and second-time homeowners, acquire their dream home. The collaboration offers zero payments during construction, zero down payment, and 100% financing for 10 projects.

Digital Nasional Bhd (DNB) has chosen Ericsson to deploy Malaysia's national 5G network in an RM11 billion project. The agreement aims to enhance digital infrastructure and support the country's transition to a more connected digital economy, excluding previous potential vendors like Huawei.

Kejuruteraan Asastera Bhd (KAB) has partnered with Janakuasa Pte. Ltd. to enter Vietnam's renewable energy market. The collaboration involves establishing a special purpose company to acquire majority stakes in three hydropower stations totaling 180 MW, with power purchase agreements valid from 2030 to 2039.

Federal Reserve economists uncovered significant economic disruptions from Trump-era tariffs, revealing unusual trade reporting patterns and potential misreporting by exporters and importers during the US-China trade conflict.

The World Bank has lowered Malaysia's GDP growth projection to 4.5% in 2021, down from the previous 6%, citing concerns about COVID-19 resurgence, healthcare system strain, and economic disruptions caused by repeated lockdowns and business closures.