Malaysia Financial News

Supply Chain Council, set up under an agreement of the 14-member IPEF, will be held in December, the commerce ministry said on Monday. The IPEF (Indo-Pacific Economic Framework for Prosperity) bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade.

India, were able to protect their key interests, think tank GTRI said on Sunday. The 14-member IPEF bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade. The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the pillars except the trade. Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam are members of the bloc.

palm oil production is likely to triple in six years as the area under oil palm plantations increases and as plantations become mature for harvesting, a senior industry official said on Friday. The world's biggest edible oil importer relies on Indonesia, Malaysia and Thailand for palm oil supplies. An increase in production will help India slash edible oil imports that account for nearly two-thirds of its total consumption. India's palm oil production is likely to jump to 1.2 to 1.5 million metric tons by 2030-31 from the current 400,000 tons, as farmers have been expanding the area, said Sougata Niyogi, chief executive officer of the oil palm plantation division at India's biggest palm oil producer, Godrej Agrovet Ltd.

Nearly 138,000 platform beds sold at major retailers including Amazon and Walmart are being recalled across the U.S. and Canada

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

India entered the final of the Hero Asian Champions Trophy with a clinical 4-1 win against South Korea in the semi-final here on Monday. India scored through Uttam Singh (13th minute), skipper Harmanpreet Singh (19th, 45th) and Jarmanpreet Singh (32nd), while Korea's lone goal came from through Yang Jihun (33rd)'s penalty corner conversion. India will take on hosts China in Tuesday's final. Earlier in the day, China defeated Pakistan 2-0 via shoot-out in the first semifinal after the two teams finished 1-1 at the end of regulation 60 minutes. In the previous league stage encounter between the two finalists, India prevailed 3-0.

Malaysia Airlines is keen to expand its operations into India, which is a «very important market», according to a top airline official. The airline, which currently flies to nine Indian cities, is eyeing new destinations as well as looking to increase frequencies to Trivandrum and Ahmedabad. Part of the Malaysia Aviation Group (MAG), Malaysia Airlines operates daily flights to Delhi, Mumbai, Bengaluru, Amritsar, Chennai, Hyderabad and Kochi. It also has four weekly services from Ahmedabad and Trivandrum.

A report by the American Chamber of Commerce in Shanghai has found that U.S. companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy

Harmanpreet Singh scored a brace as defending champions India beat Korea 3-1 to register their fourth consecutive win at the Hero Asian Champions Trophy here on Thursday. Paris Olympics bronze medallist India had defeated China 3-0, Japan 5-0 before thrashing last year's runner-up Malaysia 8-1. Already assured of a semifinal berth, India will play arch-rivals Pakistan on Saturday in their last league match in the six-team competition. The top four teams from the league stages will qualify for the semifinals scheduled on Monday, while the final will be played next Tuesday.

India (SEA). «The overall import of vegetable oils during the first ten months of the current oil year (November 2023 to August 2024) is reported at 136.8 lakh tonnes compared to 141.2 lakh tonnes during the same period of last year; down by 3%,» said SEA in a media release. The trade estimate for import of edible oils during September and October is about 27 to 28 lakh tonnes. «The total import of cooking oils during the 2023-24 oil year is likely to be 160 -165 lakh tonnes, which is similar to the previous year. The total stock as on September 1, stands at 29.25 lakh tonnes, up by 23,000 tons from the 29.02 tonnes reported on August 1, 2024,» said SEA.

palm oil imports in August fell more than a quarter from a month ago, primarily driven by sufficient domestic stocks and negative margins that discouraged refiners from purchasing more of the tropical oil, a leading trade body said on Thursday. Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures. India's palm oil imports fell 26% in August from July to 797,482 metric tons, the Solvent Extractors' Association of India (SEA) said in a statement.

Raj Kumar Pal struck a hat-trick as title-holders India sealed a semifinal spot after thrashing Malaysia 8-1 for their third consecutive win in the Hero Asian Champions Trophy, here on Wednesday. Apart from Raj Kumar (3rd, 25th and 33rd minute), Araijeet Singh Hundal (6th and 39th minute), Jugraj Singh (7th minute), skipper Harmanpreet Singh (22nd minute), and Uttam Singh (40th minute) sounded the board for India. For Malaysia, Akhimullah Anuar (34th minute) managed the solitary strike. India are currently on top of the standings with nine points from three wins.

South China Morning Post, the Hong Kong daily, reported that the Malaysian Retailers Association has publicly called on Kuala Lumpur to significantly raise duties on imported goods costing $115 or less from the 10% levy imposed in January. The retailer’s association estimates it is losing 30% of its business to e-commerce portals selling goods shipped in from China. “Because we have not tightened up any rules or regulations, Malaysia has become a dumping ground for excess capacity from China," Ameer Ali Mydin of the Malaysian Retailers Association told the newspaper.

Singapore in September 2024 was his second official visit to Singapore, the first being in 2016. Globally, there have been significant changes between 2016 and 2024, but this visit symbolised an enduring continuity in relations between India and Singapore over the last few decades. This visit was significant for the key reasons.

A top Kremlin official says Turkey has formally applied for a membership in the BRICS bloc of developing economies as Russia and China seek to counter the West's global influence

A dismissed town mayor who fled the Philippines after being accused of helping establish an illegal online gaming and scam center catering to clients in China has been arrested near Indonesia’s capital

Blackstone Inc. has agreed to acquire AirTrunk in a deal valuing the Australian data centre operator at A$24 billion (US$16.1 billion), including debt and capital expenditure for committed projects.

Another death is being linked to dangerous Takata air bag inflators by U.S. regulators, the 28th in the United States

Asia’s latest factory activity data showed some loss of momentum midway through the third quarter, but a broad continuation of growth in output and orders. Views among manufacturers on the sector’s outlook were mixed amid uneven price and demand developments through the region, though many were cautiously upbeat. S&P Global’s manufacturing purchasing managers index readings for Japan and South Korea signaled improvement in August, while those for India, Thailand, Taiwan and Malaysia indicated expansions in manufacturing, though at a slower pace.

Mint. "In India, offline is a much bigger market, and that is our big push," said co-founder and chief executive officer Harshil Mathur. In August 2022, Razorpay entered the offline segment through the acquisition of Ezetap.

Gopal Rai, Delhi Environment Minister and AAP leader, released a statement on Sunday regarding the possibility of cloud seeding (artificial rain) and the construction of smog towers in Delhi. Gopal Rai refuted the allegations by BJP leaders that the Delhi government was wasting money by not constructing smog towers. «Yesterday, BJP leaders said that money was wasted. They do not know that on the orders of the court, the Delhi government built a smog tower in Connaught Place and the centre built in Anand Vihar. In such a situation, how did the Delhi government waste money?», said the Delhi Environment minister. Rai criticised the condition of the smog tower built by the Union government in Anand Vihar, he added, «Also, find out what the condition of the smog tower built by the Centre is, and why are you hiding the smog tower of Anand Vihar. We are always ready to give all kinds of support to the Centre.»