Her words matter now because the Fed is in the middle of redrawing its version of international capital rules that have already been adopted by other countries. “The growth of private credit tells me that the regulated banking system has been too tightly constrained,” Bessent told Michael Milken on stage at the former financier’s conference. The total money managed by private equity and private credit has mushroomed to more than US$11 trillion from less than US$3 trillion globally, according to the Bank of England. In January, Jamie Dimon, the outspoken chief executive officer of JPMorgan Chase & Co, plainly described the growing influence of private credit and insurers in lending as regulatory arbitrage. A rush of private lending to highly valued software companies looks like turning sour with AI companies potentially upending their businesses.

That’s all that stand between Pearly Tan-M. Thinaah and history as Malaysia’s first women’s doubles champions at the All-England. The Japanese duo already beat Pearly-Thinaah at the Denmark Open last October, underlining the size of the task ahead. “They have played here many times, but conditions will still be different and so will the opponents. It will be a tall order for Pearly and Thinaah despite their status as the world No 2. Also in action are youngsters Ong Xin Yee-Carmen Ting, who face a baptism of fire against last year’s runners-up Yuki Fukushima-Mayu Matsumoto.

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim and Indonesian President Prabowo Subianto will hold a meeting in the near future to discuss efforts to strengthen bilateral ties between the neighbouring countries. The Prime Minister said the matter was among those agreed upon by the two leaders during a telephone conversation on Tuesday (March 3). "During a phone call with Prabowo, we exchanged greetings and views on various current issues affecting the interests of both countries, for the well-being of our peoples and regional stability. "We also agreed to meet in the near future, to further reinforce the close ties between our two neighbouring nations, which have long been built on the spirit of brotherhood and strategic cooperation," he said in a Facebook post on Tuesday.

(March 3): Britain said on Tuesday the government would end study visas from Afghanistan, Cameroon, Myanmar, and Sudan, and work visas for Afghans, in a major crackdown as anti-immigration sentiment rises in the country. "An 'emergency brake' on visas has been imposed for the first time on nationals from four countries following a surge in asylum claims from legal routes," the Home Office said in a statement. Interior minister Shabana Mahmood said that "Britain will always provide refuge to people fleeing war and persecution, but our visa system must not be abused". "That is why I am taking the unprecedented decision to refuse visas for those nationals seeking to exploit our generosity," she added. The Home Office said Mahmood will introduce new legislation this week to restore order and control to the country's borders.

Every day of disruption compounds pressure on producers and consumers alike, creating bottlenecks for exporters in the Middle East and deepening shortages for buyers elsewhere. Oil prices on Monday initially jumped more than 10% to above US$82 a barrel, the highest in over a year, before easing back to around US$79. If this disruption lasts only a few days, the global oil market can likely absorb the blow. With production of 10 million bpd and exports of around seven million bpd, the remaining storage could fill within 10 days. That, in turn, would transform what markets are currently treating as a temporary shock into a far more durable challenge for the global oil system.

KUALA LUMPUR: Applications for Year 1 admission at the age of six has received a positive response from parents. Deputy Education Minister Wong Kah Woh said data as of Monday (March 2) showed that 351,789 applications had been recorded for the 2027 intake, including 51,457 children aged five (5+). To support increased admission of pupils, he said the government would enhance access to preschool education by expanding facilities in primary schools, secondary schools, vocational colleges, matriculation colleges and teacher education institutes. The government planned to add 150 new classes in 2025 and another 350 in 2026, bringing the total government preschool capacity to 256,894 places, with current enrolment at 217,041 pupils," he said. "Since its implementation from 2022 to 2025, a total of 1,158 participants have been trained, with an average monthly income increase of between RM1,000 and RM1,500," she said.

IPOH: A 24-year-old man was killed while three others were injured during an accident involving three lorries at KM378 northbound of the North-South Expressway near Tanjung Malim. Perak Fire and Rescue Department Operations Division assistant director Sabarodzi Nor Ahmad said the victim was pronounced dead at the scene by Health Ministry personnel during the incident on Tuesday (March 3) at about 3.55pm. "The victim was found trapped in the driver's seat in a lorry that was transporting rice. "The deceased was handed over to the police, while the three injured victims were handed over to Health Ministry personnel for further action," he said. "The two other vehicles involved included one lorry that was transporting steel coils and another that was loaded with used goods," he added.

The Opposition Leader said the Bill, which seeks to limit the prime minister’s term to 10 years, failed to secure a two-thirds majority because government MPs did not turn up to vote. “The opposition bloc never rejected the proposed amendment but took a stand to abstain from voting on Monday (March 2).”“Why are you blaming the opposition? If you review the opposition MPs’ debate speeches, you will find that they all expressed conditional support for the Bill,” he said at a press conference here Tuesday (March 3). The Bill, which went to a bloc vote, failed to obtain the required two-thirds majority, receiving only 146 votes. “You have the majority — 154 MPs support the government.

BEIJING (March 4): China opposes the military strikes launched by Israel and the US against Iran and demands an immediate cessation of hostilities, Foreign Minister Wang Yi told his Israeli counterpart Gideon Saar on Tuesday, according to his ministry. The real value of military power lies not on the battlefield but in preventing war," it quoted Wang as telling Saar in a call. Wang told Saar that China believes in resolving international and regional issues through dialogue and negotiation and will continue to play a constructive role in easing the situation. Wang also spoke with Russian Foreign Minister Sergei Lavrov on Sunday about the Iran crisis. However, Wang has not spoken to US Secretary of State Marco Rubio since the launch of the US and Israeli strikes on Iran on Saturday, when Supreme Leader Ayatollah Ali Khamenei was among a number of senior Iranian officials killed.

KUALA LUMPUR: The full lunar eclipse that produced a striking 'blood moon' was a rare and unique astronomical event visible in Malaysia's skies. National Planetarium principal assistant director Nur Fazilah Mohamad Hanafiah said it was the first time during her tenure that a full lunar eclipse had coincided with the month of Ramadan. "During my time working here, this is the first time a full lunar eclipse has occurred during Ramadan. "Although thick clouds covered the sky, visitors still had the opportunity to witness the partial eclipse phase when the cloud cover began to thin," she said. Earlier, the Malaysian Space Agency announced that the next total lunar eclipse visible in Malaysia is expected on Dec 31, 2028.

(March 4): Apple Inc updated its two main laptop computer lines, adding faster processors to the MacBook Air and MacBook Pro and raising prices amid an industrywide memory crunch. The company introduced the new models on Tuesday, giving the Air the M5 chip and the MacBook Pro the first M5 Pro and M5 Max chips. The regular M5 MacBook Pro, introduced in October, also got a price increase, moving from US$1,599 to US$1,699. All of the new machines come in their prior colors: sky blue, starlight, midnight and silver for the MacBook Air and silver or space black for the MacBook Pro. The MacBook Pro with the M5 Pro and M5 Max, meanwhile, have up to 18 core CPUs, while the M5 Max model can be topped out with a 40 core GPU.

KOTA KINABALU (March 3): Chinese investors are invited to explore vast opportunities in Sabah, particularly in the sectors of the Blue Economy, renewable energy, smart infrastructure, digital innovation, and sustainable tourism. Chief Minister Datuk Seri Hajiji Noor extended this invitation while outlining the state’s proactive approach to international economic cooperation. Highlighting the state’s precise economic direction, Hajiji stressed the importance of building robust, continuous partnerships to achieve the state’s multifaceted goals. “We are deeply honoured to celebrate over five decades of enduring friendship and diplomatic ties between Malaysia and China, and between Sabah and China,” Hajiji noted in his speech. “Our bilateral ties have flourished, anchored by a foundation of mutual respect, strategic trust and a robust, expanding economic partnership.

PETALING JAYA: After enduring a gruelling 27-hour journey to Birmingham, mixed doubles shuttler Lim Chiew Sien now faces an even tougher task as she prepares to take on defending champions Guo Xinwa-Cheng Fang Hui in the first round of the All-England. The last-minute change came after their original opponents from Thailand, Dechapol Puavaranukroh-Supissara Paewsampran, withdrew when Supissara was rushed to the hospital. Chiew Sien arrived in Birmingham after enduring a lengthy journey when her original flight on Sunday (March 1) was cancelled because of unrest in the Middle East. To make matters worse, her new flight only took her as far as London, forcing her to continue the journey to Birmingham by bus. Her partner Wong Tien Ci had departed earlier for Birmingham with the other professional players.

The claim filed with the EU’s General Court in Luxembourg contests the European Council’s regulation of Dec 12, 2025, according to a Russian central bank statement published on Tuesday. The EU intends to keep the assets immobilised until the war ends and Russia pays reparations to Ukraine. The European Commission took note of the Russian central bank’s claim, spokesperson Balazs Ujvari told reporters on Tuesday. “We are fully confident about the legality of this regulation and its compatibility with EU law and international law,” he said. Shortly after the EU published the regulation, the Russian central bank issued a warning to the bloc, threatening to seek compensation in local courts from European lenders if it proceeded to use the frozen assets to support Ukraine.

PETALING JAYA: It was far from a perfect debut for mixed doubles shuttler Jimmy Wong and his partner Lai Pei Jing at the All-England when they crashed out in the opening round on Tuesday (March 3). Jimmy-Pei Jing went down 17-21, 18-21 to Taiwan’s Ye Hong Wei-Nicole Chan in 36 minutes. It marked their second defeat to the world No. 15 pair, having also lost to them at the Japan Masters in November last year.