For example, when rumours spread that a large Swiss bank was in financial difficulties, its stock price tumbled and European financial markets took fright — even though these rumours were not backed by hard evidence. The trouble is that not only do we have dry tinder on the ground in global financial markets, but there are many potential sparks that could trigger wildfires. It is fair to say that throughout this challenging period, Southeast Asian countries gave financial markets good reasons to be confident in their policymaking prowess — at least insofar as macroeconomic policies were concerned. Monetary policies were carefully calibrated and, even where quantitative easing was used, this was done in a careful manner and communicated clearly to financial markets. In short, we are in for a tumultuous time in the global economy and in financial markets.

The downgrade underscores heightening uncertainty over Asia's recovery from the COVID-19 pandemic as darkening growth prospects for the United States, China and the euro zone economies stoke fear of a global recession. "A widening debt crisis in (emerging) economies would weigh heavily on global growth and could precipitate a global recession. The world's second-largest economy is expected to see growth rebound to 4.4% in 2023, down 0.2 point from the IMF's forecast in July. The IMF expects Japan's economy to grow 1.7% this year, unchanged from its projection in July, and 1.6% in 2023, down 0.1 point. Japan's downgrade for 2023 reflects an expected weakening of consumption blamed on rising inflation and slow wage growth, the report said.

IPOH: A woman and her baby were killed after the car they were in crashed into another car along Jalan Simpang Pulai-Cameron Highlands near here. "The woman and the baby were confirmed dead by medical personnel," he said. "The driver of the other car suffered light injuries," he added. The spokesman said the bodies of the victims had been pulled out from the wrecked car and handed over to the police for the next course of action. "Those who were injured were given treatment on the spot," he said.

Our shoot with Chryseis Tan took place shortly after the entrepreneur announced that she was expecting her second child. “I tend to gravitate towards things that I am personally passionate about – dining, travel, beauty,” she says, describing her entrepreneurial decisions. “Having said that, it comes down to intuition for me.”That Tan has a natural instinct for business should come as no surprise. She has, after all, learnt from one of the best, observing her father Tan Sri Vincent Tan, founder of The Berjaya Group, from an early age. Apart from running her business ventures, Tan also holds several positions at The Berjaya Group, where she is on the board.

Some would say that our problems can be solved if we have better leaders or better ruling parties. The New Economic Policy (NEP), Rukun Negara, new sedition laws and government by grand coalition underpinned the new system, Malaysia 2.0. We provisionally named it the Better Malaysia Assembly (BMA) or “Sidang Rakyat Malaysia”. Political economy reformsWhat ideas could a sitting of the BMA consider for reform of our political economy? So, my ideas are just items that I think are worth being tabled in our quest for a better political economy, which means better economic growth, stronger democracy and more judicious sharing of wealth and income.

SINGAPORE: Oil prices fell on Monday, snapping five days of gains, as investors took profits after a report on slowing economic activity in China, the world's biggest crude importer, re-ignited concerns about falling global fuel demand. The OPEC+ cuts, which come ahead of a European Union embargo on Russian oil, will squeeze supply in an already tight market. EU sanctions on Russian crude and oil products will take effect in December and February, respectively. "However, there is obviously still plenty of other uncertainty in the market, including how Russian oil supply evolves due to the EU oil ban and G-7 price cap, as well as the demand outlook given the deteriorating macro picture." Other signs of slowing demand emerged from India, the world's third-largest oil user.

More importantly, they have restructured their banking and financial systems, and have accumulated adequate levels of foreign reserves,” he points out. “The currency crisis in the 1990s stemmed from the individual country’s vulnerabilities as well as economic and financial weaknesses, especially their overdependence on foreign capital. “When the Fed holds off on its interest rate increases, only then can we see some normalcy in the currencies. If there were a crisis, our currency would depreciate sharply against all the other currencies,” says Yeah. “In the real economy, exporters will benefit from the weak ringgit, while importers will face higher import costs and margin squeeze.

KUALA LUMPUR (Oct 10): Petroliam Nasional Bhd (Petronas) has said its force majeure on gas supply for the production of liquefied natural gas (LNG) at the Petronas LNG Complex in Bintulu, Sarawak affected only the MLNG Dua production facility. In a statement, Petronas said the other LNG production facilities within the Petronas LNG Complex continue to operate as planned. This means that the force majeure may impact one-third of the Petronas LNG Complex capacity, back-of-the-envelope calculations showed. MLNG Dua is one of the three LNG plants within the Petronas LNG Complex, with three liquefaction trains of 3.2 million tonne per annum (mtpa) capacity each. The complex's two other plants are MLNG Satu, with three trains of 2.8 mtpa capacity each, and MLNG Tiga, with three trains of 3.8 mtpa capacity each.

Recognising these risks, Malaysia’s Ministry of Finance committed that Budget 2023 would continue to enhance the country’s recovery progress in 2022 while safeguarding the rakyat and businesses against current and future challenges. In order to achieve these objectives, Budget 2023 focuses on enhancing the momentum of economic recovery and strengthening the country’s economic resilience — all while implementing comprehensive reforms. The various initiatives and strategies to increase the income of the rakyat has been continued in Budget 2023. The social safety net programmes and social protection system under Budget 2023 will be designed to protect the people from various vulnerabilities and economic shocks. This conviction towards full recovery for everyone in every facet of the economy has been continued and even expanded in Budget 2023.

KUALA LUMPUR: The government initiative to offer 50,000 career opportunities through Budget 2023 will instil confidence in future graduates to venture into the working world, even though the country is still recovering from the Covid-19 pandemic. "They (jobseekers) do not need to worry about career opportunities, as the government has offered 50,000 career opportunities on a contract basis including 15,000 in the public sector and 35,000 through government-linked companies (GLCs) next year," she said. For example, former prisoners will not hesitate when it comes to seeking jobs, as we can offer jobs to them," he said. "A majority of the younger generation are interested in business...this can be seen on social media such as TikTok and Facebook. The PUSH programme will produce successful entrepreneurs," she said.

According to Hartalega, its strategic initiatives include its original brand manufacturer (OBM) strategy "to build a regional multiple medical device distribution company focusing on markets in Asia Pacific". Hartalega, however, did not specify the list of medical devices the group intends to distribute. Hartalega said on its website that the company has a current annual glove production capacity of 44 billion pieces and that its targeted production capacity is 95 billion pieces of gloves annually. "Continued strong market competition and excess capacities from major players capped upward trajectory for ASP (average selling price). Hartalega has 3.42 billion outstanding shares, according to the company’s latest annual report.

"Headquartered in Malaysia, Hartalega is recognised as one of the world's largest producers of nitrile gloves for the healthcare industry. This partnership allows US-based UGTC to provide customers with a comprehensive product offering meeting the highest safety standards in the industry,” UGTC said. "UGTC market research shows users are forced to use lesser-quality gloves. Independent medical facilities expressed frustration at the high price and lack of quality,” UGTC said. At the time of writing on Sunday, Hartalega had not issued a statement in response to UGTC’s statement on the partnership.

Like roulette, the nation is embroiled in a guessing game for the next general election. THE 15th General Election, which must be held by Sept 16 next year, has become the most difficult one to predict. Currently, its date is just a stab in the dark.

KUALA LUMPUR: Malaysia is one of the 19 member countries of the East Asian-Australasian Flyway (EAAF), which is a destination for migratory birds to rest, find food and shelter before continuing their journey to other destinations. Energy and Natural Resources Minister Datuk Seri Takiyuddin Hassan (pic), in a statement issued with the World Migratory Bird Day here on Saturday (Oct 8), said over 50 million migratory bird species migrated through the EAAF every year to avoid winter in their home countries. In conjunction with World Migratory Bird Day today, Takiyuddin called on all parties to join forces and intensify efforts in conserving migratory birds. World Migratory Bird Day is celebrated bi-annually on the second Saturday in May and in October to raise awareness of the need for the conservation of migratory birds and their habitats. It aims to draw attention to the threats faced by migratory birds, their ecological importance, and the need for international cooperation to conserve them.

As such, to move towards a better Malaysia, Budget 2023 will be guided by the 3Rs — namely Responsive, Responsible and Reformist. Budget 2023 has not been formulated only for a specific group but instead has been inclusive in collating and analysing of ideas, molded into a 2023 Budget inspired by Keluarga Malaysia. This is a significant increase compared to Budget 2022's allocation of RM332 billion and Budget 2021's of RM322 billion. With the above special income tax treatment, the income tax savings for middle income group is up to RM1,000, meanwhile, for top income group is up to RM250 per taxpayer. Budget 2023 will be the largest budget ever, with an increased allocation of RM372 billion.