<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 19): Minister in Prime Ministers Department Datuk Seri Abdul Wahid Omar said the upcoming revision in Budget 2016 is not by any means "austerity measures", as in cutting expenses for the sake of cutting, because doing so would impede growth.</p></div>

<div class=newsTextDataWrapInner><p>"In an era of low oil prices, we need to come up with proactive measures. With lower expected oil revenue, we have to optimise our spending," said Abdul Wahid in his keynote speech at Standard Chartered Bank Malaysia Bhd’s Global Research Briefing 2016 "Retreat, Regroup, Rebound".</p></div>

<div class=newsTextDataWrapInner><p>"We can't simply use the term 'austerity measures', because that is not the case. We are not cutting spending simply for the cut of cutting spending. What this means now is [that] we just have to optimise our spending and be more efficient."</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Abdul Wahid said that Malaysian government's budget this year is composed of only 14% of oil-related revenue. However, he said the percentage might be smaller with the revision, as crude oil prices have fallen further than the government's original oil price assumption of US$48 a barrel.</p></div>

<div class=newsTextDataWrapInner><p>Budget 2016 revision will be unveiled on Jan 28.</p></div>


KUALA LUMPUR (Jan 19): Minister in Prime Ministers Department Datuk Seri Abdul Wahid Omar said the upcoming revision in Budget 2016 is not by any means "austerity measures", as in cutting expenses for the sake of cutting, because doing so would impede growth.

"In an era of low oil price...

Budget 2016 revision not 'austerity measures', says Wahid

(April 19):Blackstone Inc. collected more fees from big retail funds and credit strategies during the first quarter, compensating for the slower pace of deal exits.

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Shares of IT services firm Infomina Bhd fell on Friday to its lowest in nearly one year as its latest results disappointed investors even as analysts largely remained bullish.

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KUALA LUMPUR (April 19): Meta Bright Group Bhd is forming a joint venture company (JVco) with a Bumiputera firm to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

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MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.

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WASHINGTON (April 18): The International Monetary Fund urged Asian central banks on Thursday to focus on domestic inflation and avoid tying their policy decisions too closely to anticipated moves by the U.S. Federal Reserve.

Receding expectations for a near-term interest cut by the U.S....

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Batik Air will suspend its operations to Istanbul, Turkiye, effective May 1, 2024, and affected passengers will be notified via email and text, said the airline operator, Malindo Airways Sdn Bhd.

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Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signalling they’re intervening more actively to aid the rupiah.

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Some lenders to Thames Water could face losses of as much as 40% in the event that it ends up being nationalised by the UK government, according to contingency plans drawn up by officials.

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(April 19): Hedge funds and other international investors are sounding alarms after a profitable education company from China defaulted on its convertible bonds in March.

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Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

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<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


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<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


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<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


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<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


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<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


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<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.</p>


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<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


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<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

<p>MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;</p>


<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


KLCI up 0.43% with focus on energy, plantation, financial stocks

<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


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<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


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<p>The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.</p>


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<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


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<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


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<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
