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US returns US$300m from 1MDB to Malaysia
KUALA LUMPUR: Malaysia today announced that US$300 million from 1Malaysia Development Berhad (1MDB) has been returned to the government by the United States of America. Prime Minister Tan Sri Muhyiddin Yassin said the amount represents the funds recovered from asset seizures
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Trump: Close to plan to reopen economy possibly, in part, before May 1
WASHINGTON: President Donald Trump said on Tuesday he is close to completing a plan to end the coronavirus shutdown and reopen the battered U.S. economy with some parts of the country likely to be ready to go before May 1.U.S.
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Businesses need to review business plans, reallocate resources
KUALA LUMPUR: Businesses will need to review their business plans and reallocate their resources to optimise future returns after surviving the COVID-19 pandemic, said Baker Tilly Malaysia. Global Business Solutions director, Loke Chee Kian said chief financial officers (CFOs), together with other
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AirAsia founders not taking salary; staff accept up to 75% pay cut
KUALA LUMPUR: The founders of Malaysia’s AirAsia Group Bhd will not take salaries and its staff has agreed to an as much as 75% cut in pay due to the impact of the novel coronavirus outbreak on the airline, its chief
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Covid 19: LinkedIn offers free job postings for frontliners
Job postings for critical roles in healthcare are rising around the world, including in Malaysia. The healthcare sector is seeking professionals including doctors and nurse in the frontline of the COVID-19 pandemic. LinkedIn, the world’s largest professional network, has announced
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Beyond Stimulus Packages Malaysian economy needs a “new deal”!
PSM commends the government that the Supplementary Stimulus Package (Langkah Tambahan Pakej Prihatin) has addressed some of the criticisms leveled against the Stimulus Package announced by the Prime Minister on 27th March 2020. Many voices emanating from the business sector
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Japan set to announce coronavirus emergency, finalise near $1 trillion stimulus
TOKYO: Japanese Prime Minister Shinzo Abe is set to announce a state of emergency on Tuesday for the capital Tokyo and six other prefectures to stem a worrying rise in coronavirus infections in major population centres. The government is also
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Oil drops over $1 on oversupply after OPEC+ delays meeting
SINGAPORE/NEW YORK: Oil prices slipped more than $1 a barrel on Monday, after the world’s top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand. Brent crude
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‘Malaysian house prices remain seriously unaffordable’
KUALA LUMPUR: Malaysian house prices remain seriously unaffordable relative to income, due to a pronounced and prolonged mismatch between demand and supply of residential property. Bank Negara Malaysia (BNM) in its Financial Stability Review (Second Half 2019) report said nevertheless, risks
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Finance Ministry to finalise special stimulus package for SMEs
KUALA LUMPUR : The Finance Ministry (MOF) is in the midst of refining a special stimulus package for the small and medium-sized enterprises (SMEs) to ease their current difficulties. Its Minister Tengku Datuk Seri Zafrul Aziz said this proposed package
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