GM is recalling 721,000 SUVs and trucks worldwide due to engine issues that could lead to a loss of power and boost the risk of a crash, the company announced on Tuesday.

GM recalling 721,000 vehicles over engine issue

Britain plans to bring crypto exchanges and dealers under compulsory regulation for the first time under new draft laws announced by finance minister Rachel Reeves on Tuesday to regulate the crypto-asset industry.

UK sets out new laws to regulate crypto exchanges and dealers

Oil prices fell about 2% to a two-week low on Tuesday on expectations Opec+ will boost output even as US President Donald Trump's on-again off-again trade tariffs could reduce global economic growth and demand for the fuel.

Oil prices fall 2% to two-week low as trade war concerns dampen demand outlook

President Donald Trump will sign an executive order on Tuesday to soften the impact of his automotive tariffs, the White House said.

Trump to sign order granting some auto tariff relief, White House says

The S&P 500 and the Nasdaq edged lower on Tuesday as investors assessed a slew of corporate earnings and economic data, while fresh comments on the US-China trade war dashed hopes for a quick resolution of the conflict.

S&P 500, Nasdaq inch down on Sino-US trade war developments, earnings

Amazon.com denied a report on Tuesday that it planned to disclose the cost that US tariffs imposed by President Donald Trump were adding to its products, after the White House blasted the initial story.

Amazon denies it planned to disclose cost of US tariffs on its website

Bitcoin has surged past gold and tech stocks alike in April, rekindling the debate over whether the largest cryptocurrency serves as a refuge from market turmoil such as the strife triggered by sweeping US tariffs.

Bitcoin outshines gold, tech stocks in April amid tariff turmoil

US job openings fell last month to the lowest since September, indicating weaker labour demand amid increased economic uncertainty.

US job openings decrease to lowest level since September

US consumer confidence fell in April to an almost five-year low on growing pessimism about prospects for the economy and labour market due to tariffs.

The Conference Board’s gauge of confidence decreased nearly eight points to 86, the weakest since May 2020, data released on Tuesday showed.

US consumer confidence slumps to an almost five-year low

Canada’s Liberal Party is projected to win a fourth consecutive election, giving a mandate to former central banker Mark Carney after a campaign in which he pledged to boost economic growth and stand up to US President Donald Trump in a trade war.

Carney’s Liberals win narrow victory in Canada’s election

Canada's main opposition leader Pierre Poilievre lost his seat in Monday's general election, results from Elections Canada showed, as the Conservatives were beaten by the incumbent Liberal Party.

Canada's opposition leader Poilievre loses his seat in federal election

Midea Group Co saw strong revenue and profit growth in the first quarter, as it benefitted from Chinese subsidies for home appliance purchases despite facing US tariff risks.

Midea reports strong revenue despite facing US tariff risks

The US merchandise-trade deficit unexpectedly widened in March to a record as companies continued importing goods to get ahead of tariffs, indicating a large hit to the economy in the first quarter.

Record US goods-trade deficit implies weaker first-quarter GDP

Malta’s “golden passports” programme for wealthy investors violates European Union (EU) rules on citizenship, the bloc’s top court ruled in a case that could have transformed the EU into a haven for affluent foreigners at a time when President Donald Trump wants to entice them to the US.

EU bans sale of ‘golden passports’ as Trump opens doors

Malaysian state-owned oil and gas firm Petroliam Nasional Bhd, or Petronas, is in talks with Commonwealth LNG to buy liquefied natural gas (LNG) from the US company's facility in Cameron, Louisiana, according to four trading and industry sources with knowledge of the matter.

Petronas and Commonwealth LNG in talks for term supply, Reuters reports

The Malaysian Anti-Corruption Commission (MACC) has detained four individuals, including one bearing the title of "Datuk Seri", for allegedly submitting claims containing false particulars amounting to RM360 million.

Four including ‘Datuk Seri’ detained over RM360 mil false claims

Malaysia hosted the Asean Senior Officials’ Meeting (SOM) and Related Meetings on Tuesday in Kuala Lumpur, according to the country's Foreign Ministry.

Three senior official-level meetings were convened, namely the Asean SOM, Meeting of the Executive Committee of the Southeast Asia Nuclear Weapon-Free Zone (SEANWFZ ExCom), and the 18th Asean Coordinating Council Working Group on Timor-Leste’s Application for Asean Membership (ACCWG-TL).

Asean SOM discusses Community Vision 2045, Timor-Leste membership and nuclear-free zone

A brief recap of some business news and corporate announcements that made the headlines on Tuesday.

S P Setia, Sime Darby Property, CIMB, GuocoLand, DXN, Pantech, Southern Score Builders, Pharmaniaga, Mudajaya, MyEG

The government is set to announce an unprecedented recovery plan for the victims of the gas pipeline explosion in Putra Heights, Subang Jaya, says Housing and Local Government Minister Nga Kor Ming.

Govt to announce unprecedented recovery plan for Putra heights blast victims — Nga

Prime Minister Datuk Seri Anwar Ibrahim expressed hope that the diplomatic ties and friendship between Malaysia and Egypt will continue to grow, particularly in addressing complex global issues through dynamic and thoughtful engagement.

PM hopes Malaysia-Egypt ties will continue to flourish amid global challenges

The cost of a plate of nasi lemak — a beloved Malaysian staple — has skyrocketed by 81.3% over the past 13 years, rising from RM2.03 in 2011 to RM3.68 in 2024. This increase significantly exceeds the national inflation rate of 28.7% during the same period, according to the Department of Statistics Malaysia (DOSM).

Nasi lemak price jumps 81% in 13 years, much higher than Malaysia’s inflation rate

Eco-Shop Marketing Bhd has launched Malaysia’s largest IPO in eight months, aiming to raise RM419.87 million from 347 million new shares on Bursa Malaysia’s Main Market.

Eco-Shop launches Malaysia’s largest IPO in eight months at RM1.21 per share

MALAYSIA Aviation Group Bhd (MAG), the parent company of national carrier Malaysia Airlines Bhd, will distribute up to 2½ months’ salary in bonuses to employees after posting its second consecutive annual profit, says group managing director Datuk Captain Izham Ismail.

The airline group...

Malaysia Airlines staff to receive up to 2½ months’ bonus on second straight annual profit

Fraser &amp; Neave Holdings Bhd (KL:F&amp;N) expects its dairy farming venture to break even within three to five years.

F&N optimistic dairy farm venture will break even in three to five years

HHRG Bhd (KL:HHRG), formerly known as Heng Huat Resources Group Bhd, said that the company has issued a show cause letter to its CEO Fong Chee Khuen.

HHRG issues show cause letter to CEO, extends suspension

Eco-Shop Marketing Bhd said on Tuesday there is no urgent need to raise prices at its chain of discount stores after the increase earlier this month.

Eco-Shop says no urgent need to raise prices after latest round, sees strong demand ahead

Mudajaya Group Bhd (KL:MUDAJYA) confirmed on Tuesday that its Indian unit and independent power producer, RKM Powergen Ltd, was raided by local authorities in early February this year over an alleged fraudulent acquisition.

Mudajaya confirms Indian unit raided by local authorities over alleged fraudulent acquisition

Concerns over Pharmaniaga Bhd's (KL:PHARMA) financial sustainability have been raised for the third straight year, with independent auditor Ernst &amp; Young PLT (EY) identifying a material uncertainty in the group's FY2024 financial statements that raised doubts about its ability to continue as a going concern.

Pharmaniaga's auditor flags going concern uncertainty for third straight year

KUALA LUMPUR (April 29): The Ministry of Investment, Trade and Industry (Miti) has appointed its deputy secretary general (trade) Mastura Ahmad Mustafa, one of its most experienced senior civil servants, as Malaysia’s chief negotiator for the upcoming formal tariff negotiations with the United States.

Miti deputy sec-gen appointed chief negotiator for US tariff talks

HSBC warned that loan demand and credit quality could suffer from the broader fallout of US President Donald Trump's global trade war, signalling tougher times for trade-focused banks even as the lender's first quarter profit beat forecasts.

HSBC sounds Trump tariff alarm, taking shine off 1Q profit and US$3b buyback

KUALA LUMPUR (April 29): IHH Healthcare Bhd (KL:IHH) on Tuesday secured its first sustainability-linked loan worth S$300 million (approximately RM993.16 million) from Singapore-based United Overseas Bank (UOB).

IHH Healthcare secures S$300 mil sustainability loan from UOB

As Chinese President Xi Jinping toured Southeast Asia this month to forge closer ties against higher US tariffs, the People's Bank of China was seizing a moment of confusion and disruption in global trade to promote greater usage of the yuan.

China ramps up global yuan push, seizing on retreating dollar

US President Donald Trump's administration has so far withheld at least US$436.87 billion (RM1.9 trillion) of congressionally approved funding, the top Democrats on the US Congress' appropriation committees said on Tuesday.

Trump administration withholding US$436.87b in approved spending, top Democrats say

KUALA LUMPUR (April 29): Bank Negara Malaysia (BNM) on Tuesday announced the appointment of two new members to the Shariah Advisory Council (SAC), effective May 1, 2025.

BNM appoints two new members to Shariah Advisory Council, effective May 1

Sime Darby Property Bhd has raised RM800 million in its third sukuk (Islamic bond) sale under a RM4.5 billion programme at a record-low cost.

Sime Darby Property raises RM800m from sukuk at record-low cost

China is willing to support normal cooperation between US companies, the country’s Ministry of Commerce said in a statement Tuesday, just days after Chinese airlines rejected taking delivery of any new jets from US planemaker Boeing Co.

China says willing to cooperate with US after Boeing spat

A former director of 1Malaysia Development Bhd (1MDB) testified on Tuesday that the state fund's board had relied on signed-off audits from audit firms KPMG and Deloitte, which assured them that 1MDB’s investments were legitimate despite news reports from The Edge and others stating that US$700 million from the fund had been siphoned into a company owned by fugitive Low Taek Jho (Jho Low).

Ashvin Valiram: 1MDB board relied on auditors, ignored news exposés on fund's financial health

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI down 0.40% to 1,515.56 on April 29, 2025

Cypark Resources Bhd (KL:CYPARK) said Chung Dao has re-emerged as a substantial shareholder in the renewable energy company with a 5.85% stake.

Chung Dao re-emerges as substantial shareholder in Cypark Resources

Digital services provider MyEG Services Bhd (KL:MYEG) announced on Tuesday the launch of the Malaysia Blockchain Infrastructure (MBI), a national platform developed in collaboration with MIMOS Technology Solutions Sdn Bhd, that aims to foster blockchain innovation and streamline the integration of digital assets across various industries in Malaysia.

World

‌
‌

World

‌‌

‌
‌