That includes a previous US$100 billion commitment made in 2025 by Taiwan Semiconductor Manufacturing Co (TSMC), Commerce Secretary Howard Lutnick said. The framework also caps sector-specific US tariffs on auto parts, timber, lumber and wood derivative products from Taiwan at 15%. In addition, Taiwanese semiconductors would receive relief from future tariffs. The Commerce Department concluded an investigation that found chip imports harm US national security, but held off on imposing broader tariffs. Taiwanese President Lai Ching-te had indicated he supported Trump’s goal of reindustrialising the US but said American land, electricity and workforce policy reforms were needed so projects could move ahead.

WHILE the world is rightly waking up to the implications of China’s rising technological prowess, it’s time for a reality check. Their contribution to economic activity is dwarfed by traditional engines such as property and infrastructure investment, years after they collapsed. At the same time, the increase in economic activity from six newfangled growth drivers was less than one percentage point. Billed as a consumer subsidy, in reality this scheme offers support to the industrial giants so important for the country’s future. It will take time for China’s industrial giants to get to the point where they can truly propel growth.

KUALA LUMPUR: Police are hunting for three men believed to have stolen a safe during a break-in at a house in Taman Hillview, Hulu Kelang, on Dec 26, resulting in losses estimated at RM2mil. "Further inspection found that a safe was missing from the master bedroom, with losses estimated at RM2mil," he said in a statement here on Thursday. Khairul Anuar was commenting on a video showing three suspects carrying a safe, which went viral on Wednesday. After the report was lodged, he said police detained six foreign nationals, including a woman, to assist in the investigation. Earlier, a 38-second closed-circuit television (CCTV) video went viral showing three men, each wearing a cap, carrying an object believed to be a safe estimated to weigh about 100kg at a house.

KUALA LUMPUR: The Umno supreme council special meeting has received and heard reports from council members who attended the Women's, Youth and Puteri wings meetings. Umno secretary-general Datuk Dr Asyraf Wajdi (pic) said all motions raised by delegates from the three wings were also deliberated at the meeting. The meeting was chaired by Umno president Datuk Seri Dr Ahmad Zahid Hamidi and attended by the party's top leadership, including deputy president Datuk Seri Mohamad Hasan and information chief Datuk Seri Azalina Othman Said. Ahmad Zahid is scheduled to deliver his presidential policy speech on Friday. A total of 6,412 delegates have registered, comprising 2,928 delegates for the Umno General Assembly 2025 and Wanita (1,165), Youth (1,173) and Puteri (1,146) wings.

KUALA LUMPUR: The absence of former prime minister Datuk Seri Najib Razak is felt at the Umno Youth meeting, with debaters highlighting the former party president's influence in the political landscape. Pekan Umno Youth chief Mohd Fakhrul Akhmal Mohamed attributed Barisan Nasional and Umno's dominance at the Melaka and Johor state elections to Najib's presence. "This is a reminder that we need Najib Razak," he said when debating the Youth wing chief's policy speech on Thursday (Jan 15). Pasir Mas Umno Youth chief Nik Ikhwan Haqim Hanafi said the atmosphere at the Umno annual general assembly would be electrifying if Najib was present. Meanwhile, an Umno Youth delegate was jeered by the wing after shouting the slogan "Reformasi" when beginning his debates.

PETALING JAYA: The journalist whose question posed a lecture here caused a controversy has issued a full apology. "My name is Rex Tan, a journalist at Free Malaysia Today. I genuinely and unequivocally apologise for the question I posed during a public lecture titled, 'Gaza Exposes the Complicity of International Actors' on Jan 12. Tan also pointed out that he did not use the term "apartheid" nor suggest a parallel with the present condition of Chinese Malaysians. The incident stemmed from a public lecture titled "Gaza Exposes the Complicity of International Actors" held on Jan 12, featuring British politician George Galloway, where the reporter posed a question that later drew widespread criticism online.

KUALA LUMPUR: Emotional - that was how former Umno Youth chief Khairy Jamaluddin described his return to the Umno annual general assembly after a two-year hiatus. KJ, as he is fondly known, said he also sought permission from Umno president Datuk Seri Dr Ahmad Zahid Hamidi to attend the youth assembly held on Thursday (Jan 15). “I told him that I would only come if allowed, and I have to thank Datuk Seri (Ahmad Zahid) for permitting this. “It has been an extremely emotional day for me as I am able to return to my party’s assembly,” he told reporters after attending the youth convention. When asked if there are plans to rejoin Umno, Khairy said he will take things “one step at a time”.

Fears early last year of foreign capital flight from US markets ‌amid trade, economic policy and geopolitical upheavals never really materialised. US net investment position and the dollarNew plaza? Is time up for the great dollar unwind that many of the Trump team felt would result from a protectionist trade war and political pressure on the Fed? The net investment position barely shifted. "I just ‍don't think it's healthy to have all the world's excess saving going to the United States, with such big net investment imbalances."

That's likely to mean more volatility ahead for the yen and other Japanese assets, as investors try to make sense of this new reality. The Bank of Japan (BOJ) is finally increasing borrowing costs, albeit cautiously. Investors appear to fear that historically high borrowing costs could precipitate a fiscal crisis that will only tighten the squeeze on JGBs and the yen. Yen volatility has already been creeping up in the last few years. For the first time in decades, Japan has got inflation, ​wage growth, and rising borrowing costs.

PETALING JAYA: Seputeh MP Teresa Kok has lodged reports over a fake news article claiming she had endorsed halal certification for certain products. She said she lodged a report at the Sri Petaling police station and the Malaysian Communications and Multimedia Commission (MCMC). "It went viral and I have never made such a statement before," said Kok in a Facebook post on Jan 15 (Thursday). According to Kok, she received several WhatsApp messages from her friends about the article. "The fake and defamatory article has tarnished my good name and labelled me as a racial and religious instigator, jeopardising public harmony.

The Japanese and South Korean leaders agreed to deepen cooperation between their countries before they let loose with their own surprise cultural exchange in a surprise jam session drumming to K-pop hits. The musical performance between Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung followed Tuesday’s summit in Japan’s ancient capital of Nara, also Takaichi’s hometown. Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae Myung pose with autographed drumsticks. “Playing the drums has been my longtime dream,” Lee said on X, thanking Takaichi’s hospitality for arranging the jam session. “Like we respected our differences and harmonised our rhythms, I hope that Korea and Japan would deepen cooperation and move closer to each other step by step,” Lee said.

The US Treasury Department in a statement said it imposed sanctions on the Secretary of the Supreme Council for National Security as well as Islamic Revolutionary Guard Corps and law enforcement forces commanders, accusing them of being architects of the crackdown. The US also imposed sanctions on Fardis Prison, where the State Department said women had "endured cruel, inhuman, and degrading treatment". As President Trump has said, stop the violence and stand with the people of Iran." The US-based HRANA rights group says it has so far verified the deaths of 2,435 protesters and 153 government-affiliated individuals. Trump has repeatedly threatened to intervene on behalf of protesters in Iran, where the clerical establishment has cracked down hard on nationwide unrest since Dec 28.

KUALA LUMPUR: Two HELP University students who were injured in the air conditioning gas explosion at the university's Bukit Damansara campus here are still receiving treatment at the hospital, while two others have been discharged. In a statement on Thursday (Jan 15), HELP University said the six individuals who were also injured in the incident have also been discharged from the hospital. Additionally, HELP University welcomes Prime Minister Datuk Seri Anwar Ibrahim's call for a swift and comprehensive investigation into the incident. On Wednesday, in an X post, Anwar called for an immediate and comprehensive investigation to be conducted to identify the cause of the air conditioning gas explosion at HELP University that occurred on Monday. Following the incident at around 11.40am, the media reported that one man died and nine others were injured in an air conditioning gas explosion at HELP University.

PETALING JAYA: Mixed doubles shuttlers Chen Tang Jie-Toh Ee Wei are still trying to rediscover their rhythm and confidence. Tang Jie-Ee Wei struggled to raise their game and were surprisingly beaten 16-21, 19-21 in 40 minutes at the Indira Gandhi Sports Complex in New Delhi yesterday. Tang Jie said that he and Ee Wei were still trying to regain their rhythm and self-belief after the disappointing start to the year. We also need to make our game plan more solid.”The defeat meant that Tang Jie-Ee Wei have suffered an early exit for the first time since going down in the Singapore Open second round in May last year. Tang Jie-Ee Wei will be keen to regain their best form as soon as possible and get their season back on track.

It said the affected flights were rerouted via alternative established flight paths, including the Afghanistan corridor. Iran had temporarily closed its airspace to all flights except authorised international civil arrivals and departures, citing security protocols. Iranian airspace, however, reopened on Thursday after the temporary closure to most flights expired. A check on the flight-tracking website FlightRadar24 showed that flights have resumed in and out of Iranian airspace, although the number of aircraft using the route remains limited. MAG stated that the national carrier would continue to monitor the situation and adhere strictly to international aviation safety standards to safeguard passengers and crew.