Chemical plants, steel mills, car assembly lines, food processors and electronics production facilities all yield different outputs, but share a critical input they can't do without: industrial heat. To help provide greater regulatory certainty and attempt to drive energy costs lower, Europe's policy makers are set to release new measures this spring aimed at rapidly scaling up electric industrial heat technologies to serve the needs of businesses without fossil fuels. In the run-up to the much-anticipated 2026 EU Electrification Action Plan, several major European think tanks are weighing in with suggestions on the best ways to electrify industrial heat and help businesses return to growth. One set of proposals that features input from the Fraunhofer Institute - which specialises in applied research for industry - focused mainly on the potential for electrifying low and medium temperature industrial process heat. Accomplishing all of those goals on an accelerated time frame across multiple countries will be one of the toughest challenges ever faced by European policymakers and businesses.

KUALA LUMPUR (Feb 27): Bumi Armada Bhd’s (KL:ARMADA) financial year ended Dec 31, 2025 (FY2025) net profit fell 31% to RM439.05 million, down from RM634 million in FY2024, mainly due to lower contributions from the Armada Kraken and Armada Olombendo FPSOs. Revenue dropped to RM1.59 billion from RM2.3 billion. Finance costs for the year fell by RM66.7 million, reflecting ongoing deleveraging and lower interest rates. Total liabilities fell 35% to RM2.89 billion, mainly from the foreign exchange impact, repayment of customer advances, and borrowings. CEO Gary Christenson said the stronger financial position allows Bumi Armada to bid for new projects.

BENGALURU (Feb 27): Gold was broadly steady on Friday as a drop in US Treasury yields eased the opportunity cost of holding bullion, while muted safe-haven demand kept prices in check as investors assess US-Iran negotiations. Spot gold edged 0.1% lower to US$5,180.09 per ounce by 0752 GMT. Gold was set for its seventh straight month of gains, rising more than 6% in February, a month in which renewed US tariff uncertainty and US-Iran tensions boosted its safe-haven appeal. Spot silver rose 1.9% to US$90.10 per ounce, and was headed for a 6.5% gain on the month. Spot platinum climbed 5.5% to US$2,398.12 per ounce, a four-week high, while palladium gained 2.8% to US$1,834.52.

KAJANG (Feb 27): Prime Minister Datuk Seri Anwar Ibrahim has confirmed that the proposal to establish a Royal Commission of Inquiry (RCI) over issues involving the Malaysian Anti-Corruption Commission (MACC) was discussed at Friday’s Cabinet meeting. He said discussions proceeded smoothly and that an official statement detailing the matter would be issued soon. “We discussed it earlier. A statement will follow,” he told reporters after Friday prayers at Masjid Pekan Kajang here. The ‘corporate mafia’ allegations revolve around claims that senior MACC officials orchestrated a campaign of intimidation, pressuring executives and shareholders of publicly listed companies to resign or sell their shares at steep discounts to a network of connected businessmen.

KUALA LUMPUR (Feb 27): Datuk Seri G Gnanaraja, the key witness in the Penang undersea tunnel trial, has maintained that the RM19 million which he obtained from Consortium Zenith BUCG Sdn Bhd (CZBUCG) and its director Datuk Zarul Ahmad Mohd Zulkifli was a “friendly loan”, despite him being charged for cheating Zarul Ahmad in 2019. The defence in Lim’s trial was testing Gnanaraja’s credibility as a witness when Ramkarpal asserted to the businessman that as a result of the allegations of cheating by Zarul Ahmad, Gnanaraja was considered a fraudster and could not be trusted. In response to questions from Ramkarpal, Gnanaraja also admitted that he had received a letter of demand from Zarul Ahmad’s solicitors from Messrs Shahrul Hamidi and Noh sometime in July 2017. However, when Lim’s defence counsel asserted that the TIC proves that Gnanaraja is a fraudster, Gnanaraja denied the allegation. Lim is on trial for using his position as the then-Penang CM to solicit a 10% cut in the RM6.3 billion undersea tunnel project’s profits from Zarul Ahmad, in return for aiding Zarul Ahmad’s company to secure the project.

(Feb 27): Singapore is projecting a S$24.9 billion (RM77.8 billion) defence expenditure for 2026, a 6.4% increase from last year as the city-state seeks to bolster its capabilities, Defence Minister Chan Chun Sing said on Friday. Chan told lawmakers that Singapore, “more than ever,” needs a strong and capable defence to secure its national interests amid a worsening geopolitical climate. “Going forward, I expect the growth in defence spending to keep pace with GDP, barring major shocks,” the minister told Parliament. As part of its modernisation, Singapore will acquire three Gulfstream G550 maritime surveillance aircraft. The new planes will complement the recently approved US$2.3 billion purchase of four Boeing P-8A Poseidon maritime patrol aircraft, Chan said.

(Feb 27): Mizuho Financial Group Inc is planning to replace about 5,000 administrative jobs in Japan with artificial intelligence (AI) over the next 10 years, as the country’s third-largest lender tries to boost productivity. “We are planning to enhance our earnings capabilities by shifting human resources to our focus areas by fully utilising AI,” Mizuho said in a statement. Mizuho has about 15,000 clerical positions at its core banking units and other group companies, and affected employees will be transferred to other roles, the bank said. Global banks are heavily investing in AI to improve operations ranging from product development to risk management. JPMorgan Chase & Co spends about US$2 billion (RM7.78 billion) annually on developing AI technology, an investment that it says also saves about the same amount each year.

The South Korean won slid 0.5% in late trade as foreign investors pared equity exposure after Seoul shares snapped a six-day winning streak. The MSCI gauge of emerging market currencies snapped a five-session winning streak to fall 0.3%. The MSCI gauge of emerging market equities fell 0.5% on Friday after a nine-session winning streak. Shares in Seoul snapped six straight days of gains to fall 1%, while those in Manila and Jakarta slipped 0.3% each. Next week, investors will focus on South Korean trade data on Monday and inflation readings from the Philippines, South Korea and Thailand on Thursday.

(Feb 27): Nintendo Co’s shares pared gains due in part to expectations that partner banks may trim roughly ¥300 billion (US$1.9 billion or RM7.5 billion) worth of strategic stakes in the Kyoto-based game maker. Banks including MUFG Bank and the Bank of Kyoto are expected to unload shares, while Nintendo plans to conduct a buy-back, Reuters reported, citing people familiar with the matter. Representatives of Nintendo and the Bank of Kyoto were not immediately available for comment. Nintendo’s stock price was up around 2% Friday afternoon in Tokyo, down from a high of 4.1%. “If this is paired with a buy-back, this has little impact on stock liquidity,” said Toyo Securities analyst Hideki Yasuda.

(Feb 27): City Developments Ltd (CDL), the Singapore property group controlled by one of the country’s wealthiest families, saw its profits triple last year, helped by a renewed housing boom and divestments to trim debt. Net income jumped to S$630 million (US$498 million or RM1.94 billion) in 2025 from S$201 million a year earlier. It has focused on selling assets to cut debt, achieving about S$2 billion in divestments last year. Property development contributed most to the revenue jump, with a 24% increase year-on-year, driven mainly by Singapore projects. CDL’s chairman and family patriarch Kwek Leng Beng accused his CEO son in February 2025 of attempting a boardroom coup.

MILAN (Feb 27): Italy's Monte dei Paschi di Siena said it would complete the merger with Mediobanca by the end of the year and target a profit of 3.7 billion euros (US$4.4 billion) for the combined group in 2030. The figure, which excludes one-off items, compares with 2.4 billion euros in 2025, Monte dei Paschi (MPS) said on Friday, as it presented a multi-year strategy after acquiring the larger rival last year. It will now buy the remaining 14% and take Mediobanca private to secure the full 700 million euros in savings expected from the tie-up. Planning to pay out 100% of the profits in the coming years, MPS said it would distribute 16 billion euros in dividends by 2030. MPS said the high payout would still allow it to keep some three billion euros in cash above a targeted 13% core capital threshold, which it could use for additional deals or to remunerate investors.

Carney will meet business leaders in Mumbai and start talks on a comprehensive trade agreement, which is expected to be completed by November, his foreign minister told Reuters. He is scheduled to travel on to New Delhi for talks with Prime Minister Narendra Modi. Canadian Foreign Minister Anita Anand told Reuters there have been conversations between Canada and India at the highest levels regarding concerns about criminal activity with possible links to India. Fending off American hegemonyAfter India, Carney will visit Australia, where he will address parliament and discuss military, trade and defence links. En route back to Ottawa, Carney will meet Japanese Prime Minister Sanae Takaichi and talk about boosting trade in autos, energy and critical minerals.

KUALA LUMPUR: More than 1,800 members of the police force were arrested for drug-related offences between 2020 and 2025, according to the Home Ministry. The ministry said the arrests, made under the Dangerous Drugs Act 1952 (Act 234), involved 91 officers and 1,778 other personnel. The remaining 911 cases are either still under investigation, in court, or awaiting pathology and chemistry reports to complete investigations. Onn Abu Bakar (PH–Batu Pahat) had asked about the number of police officers and personnel involved in drug abuse between 2020 and 2025, and the actions taken against them. A total of 324 were dismissed, while the remainder received warnings, including demotions,” the ministry said.

GEORGE TOWN: If only there were a foreign workers’ hostel on the north side of the island, then Long (not his real name) would not need to rent a RM1,900 a month condominium for his six foreign workers. We follow the landlord’s and management’s rules because we need our workers within walking distance from work,” said Long, 38. She said she understood the need for foreign workers to live near their workplaces and hoped employers would help them integrate into residential areas. Penang has approved several workers’ hostels, classed as ­centralised labour quarters (CLQ), near industrial zones. H’ng said the CLQ system allowed foreign workers in ­specific areas to be housed more organised, reducing scattered housing in residential areas.

JASIN: Two people were killed in a head-on collision involving two cars on Jalan Serkam-Bemban, near Jasin, on Thursday evening (Feb 26). The second sedan was also carrying the driver's elderly mother and his 40-year-old brother," he said in a statement on Friday (Feb 27). He said preliminary investigations indicate that the first sedan skidded into the opposite lane upon reaching the scene, leaving the second sedan driver unable to avoid the collision. "The first sedan driver suffered internal injuries and was pronounced dead at the scene. The second sedan driver sustained injuries to his arm and body, while his brother suffered chest injuries.