Indonesia’s communications minister said on Friday ( Jun 14 ) that the country is prepared to shut down social media platform X if it violates a law prohibiting adult content. Indonesia, the country’s biggest Arab- lot state, has strict rules that ban the sharing online of material deemed outrageous. MinisterContinue Reading
The World Bank announced on Wednesday ( 12 July ) that the economic growth in the conflict-torn country of Myanmar will be around 1 % for the 2024-2025 fiscal year as escalating violence, labor shortages, and a depreciating currency make it more difficult to conduct business. The World Bank hadContinue Reading
PUTRAJAYA: The , Malaysian government’s decision to , implement targeted diesel subsidies , is necessary to save the country, Prime Minister Anwar Ibrahim said on Monday ( Jun 10 ).
Action must be taken, even though the estimate is unhappy, Anwar said during a regular council with workers from the , Prime Minister’s Department.
Malaysia has started a more focused approach that focuses primarily on the poor by switching from expensive cover subsidies.  ,
The nation, which subsidizes the price of corn, cooking oil, and other basic commodities in large amounts, has seen its rebate expenses rise to record levels in recent years as a result of rising commodity prices and stretched government finances.
Its fuel subsidy costs only has risen 10- slide from RM1.4 billion in 2019 to RM14.3 billion in 2023.
” Who wants this targeted payment? We must also be aware that whatever we do, we will face severe repercussions from all kinds of lies and libel,” said Anwar, who is also the financing minister.
” In truth, we have stated that prior to this, all prime ministers had endorsed the precise rebate, but because of the risks involved, there was no political will to put it into practice.” However, to save the state, we have no choice” . ,
On Sunday, Malaysia announced that the price of diesel in Peninsular Malaysia would increase by over 50 per cent to , RM3.35 ( US$ 0.71 ) per litre. This took impact on Monday.
This is the unsubsidised business price , based on the May 2024 regular according to the Automatic Pricing Mechanism method, said the country’s next finance secretary, Amir Hamzah Azizan.  ,
” We are doing this because the leakages ( of subsidised diesel ) across our borders is huge”, he added.  ,
Diesel likely be at RM2.15 per gallon in Sabah and Sarawak.  ,
Diesel for reduced- money groups, including fishermen and farmers, as well as for the usage of school buses and ambulances, will continue to be subsidised, said Amir Hamzah, adding that the new strategy would certainly lead to an “escalation of prices”.
Cutting fuel subsidies is expected to save the authorities about RM4 billion annually , and this move may improve the country’s economic status in the long term, he added.  ,
According to analyst Oh Ei Sun of the Malaysian Pacific Research Center,” this government must take such an unpopular measure right away.”
Malaysia is expected to spend RM52.8 billion on subsidies and social assistance this year, down from about RM64.2 billion in 2023, based on its 2024 budget.
As the government begins shifting away from expensive blanket subsidies to a targeted approach that primarily aids the underprivileged, diesel fuel prices in much of Malaysia are expected to increase by about 50 % on Monday ( Jun 10 ).
Malaysia, which subsidizes energy, cooking oil, and corn among other basic commodities at record highs in recent years as a result of rising commodity prices and strained government finances, has seen its payment bill rise to record levels.
Its fuel subsidy costs only has risen 10- slide from RM1.4 billion in 2019 to RM14.3 billion dinars in 2023.
The government , said last month , its plan to cut fuel subsidies this year is expected to save about RM4 billion ( US$ 853.24 million ) yearly, with the benefits expected to be be- directed to low- money groups.
In a statement released on Sunday, the Finance Ministry announced that it would begin setting fuel energy costs in accordance with industry rates.
Starting at midnight, all petrol stations along the Peninsular Malaysia will start charging RM3.35 per gallon, according to the department.
In Indonesian states and territories on Borneo, as well as for qualified logistics vehicles, the president’s subsidised fuel power system, it will continue at RM2.15 per gallon.
According to the government, fishermen and land-based public transportation vehicles like school buses and ambulances have also been offered lower fuel prices.
The government will grant funds assistance to qualified Malaysians who own diesel cars, small-scale farmers, and product landowners in order to lessen the impact that might have on their incomes, according to the government.
Despite the subsidy cuts, diesel prices in Malaysia will remain among the lowest in Southeast Asia, with the fuel retailing at the equivalent of RM8.79 per litre in Singapore, RM4.43 in Indonesia, and RM4.24 in Thailand, the ministry said.
Due to alleged military ties, China’s aviation sector is subject to more stringent trade handle controls from the US.
In order to reduce the risks of relying on eastern suppliers, Beijing feels the need to develop its own parts, especially the engine.
Mr Tse added that apart from production, documentation is key to taking off worldwide.  ,
It took Airbus and Embraer about 30 years to mature, and obtaining documentation from the US Federal Aviation Administration is important.
By the end of the year, China’s civil aviation authority is now making it a priority to get European documentation for the C919.
China must also buy aircraft from overseas manufacturers in order to meet the demand for air travel, with Airbus in talks to purchase more than 100 broad body jets from Chinese airlines.
COMAC is expected to make 150 C919s yearly over the next five times, a small amount compared with Airbus and Boeing, which delivered 735 and 528 both last month.
Currently, Chinese companies have reportedly placed more than 1, 000 commands for the C919.
” Its generation rate is not that ambitious. No doubt that the aircraft may be exported abroad in the near future, but because of the reduced production rates, the focus will be on the local market, according to Mr. Tse.
He added that he anticipates that the Belt and Road nations, which have friendly relations with China, will be the first to purchase the C919 abroad in the near future.
While the poor yen has increased the cost of travel for people in Japan, it has also increased travel discounts for tourists to the area of the rising sun.
Japan welcomed more than 3 million visitors in March, a report- breaking large for a second quarter, driven by the government’s stunning cherry blossom season. Most visitors were from North America and Asia, said Mr Leggett.
JAL’s revenues and earnings changed dramatically from pre-pandemic 2019 levels, with its revenue rising by about 20 % year over year as a result of the increase in global customers.
JAL and Indian budget airline IndiGo announced a code-share agreement during the conference to buy tickets on their flights.
This will allow the Chinese aircraft to expand its channel to 18 spots on IndiGo’s community, including New Delhi and Bengaluru. India’s heat travel market is currently the third-largest in the world, trailing only China and the US.
While JAL’s inbound flights to Thailand, Taiwan, and South Korea have increased in response to heightened global demand, Mr. Leggett said the Taiwanese industry is still depressed.
The airport has adjusted its plan and capacity to deal with the tepid interest, he added, and traffic both ways is only half as high as they were before the pandemic.
He claimed that the decline in appetite for traveling is caused by the economic slump and the slow implementation of visas. Before the crisis, Chinese citizens could travel to China without a visa for up to 14 days.
” For the Chinese ( not ) coming to Japan, it’s probably more economic reasons than anything else with the slowdown of the economy in China”, he said. Go in public is not as popular as it once was for Japan.
Home business travel has decreased by about 80 % compared to pre-pandemic levels despite strong demand for international flights and business class airlines for its premium first and business class divisions.
” I think that’s mainly due to secluded working – virtual meetings that are replacing encounter- to- encounter meetings. The 80 % level has been in place for the past two years, and it does n’t seem to be waning. Luxury travel makes up for that a little bit, but that’s our biggest problem”, he said.
BANGKOK: Thailand’s cabinet on Tuesday ( Jun 4 ) approved tax measures to boost domestic tourism during the low season, Deputy Finance Minister Paopoom Rojanasakul said. The steps, which cover the time from May to November, include tax deductions for firms organising standards and lectures, he said. Further steps wereContinue Reading
Other Asian firms shared similar views.
Mr Hyuk- Tae Kwon, i- founder and CEO of Singapore- based venture capital firm Pine Venture Partners, said China remains the nearest business, and one of South Korea’s largest import and export lovers.
” It’s too large to ignore”, he added, perhaps as political concerns drive some firms to transfer their assets to the area.
Mr. Kwon claimed that China’s focus on innovation and AI sends a encouraging message to investors.  ,
” There are a lot of options I even see in China regarding ageing population, medical, food tech”, he noted.
There is a bit of impact that can be transferred over to China if you have the appropriate systems and business concepts that have worked in smaller areas, like Singapore and South Korea.
However, he acknowledged that operating in China is a whole different game activity, as each area may have different requirements.
” I believe that China’s operational difficulty has increased considerably. Instead of trying to do everything on your own in China, because the adjustments are very quick and drastic, I would advise some of my customers to find a competent and reliable companion as a fresh approach.
” With the right circulation lovers, you may have a higher chance of success in today’s business environment”.
Regarding those who managed to survive Beijing’s tight restrictions during the COVID-19 era and remain there, Mr. Kwon said they will benefit from China’s subsequent economic recovery.
Foreign colleagues have had to adapt to changing laws and changes while waiting for the flood to turn.  ,
Ho Ren Hua, CEO of Thai Wah Public Company, said this was the most important moment China emerged from COVID-19.
He claimed that China has put more emphasis on food safety, focusing on supply chain design and quality, among other things.
” That discusses source and origin tracking. And we’ve been working a bit with our purchasing groups, our provide power, all the way to the farm”, Mr Ho said.
His Thailand- based food corporation, which exports cassava to China, now has activities in Shanghai, Qingdao and Guangzhou.
Mr. Ho noted that as the pandemic spread and digitalization advanced, Foreign eating habits even changed.
” We look at different types of business programmes, starting with current hypermarkets to direct to consumer systems, to food financial companies”, he added.  ,
” Food finally is an economy of style, texture and taste. The Chinese client becomes more picky about different types of preferences, appearance, flavouring. Therefore, there are still a lot of potential for food in China over the long term.
Mr. Ho thinks that any geopolitical quake will be averted by the strong connection between Southeast Asia and China given these growing trends.
Tapioca is exported to China by his Thailand-based food business.
Because there is a significant reciprocal dependence between the Chinese economy and Southeast Asian economies, Mr. Ho said,” we do n’t anticipate there will be” significant tariffs or trade barriers between China and Southeast Asia in the near future.”
” Food product flow will continue to expand in both directions.”
The system of Alphabet announced on Thursday ( May 30 ) that Google will spend US$ 2 billion in Malaysia to build its primary data center and Google Cloud region. This is the latest in a series of growth by global tech companies into Southeast Asia. The government claimed thatContinue Reading
TRAVEL, NOT BAGS , Post- epidemic, there has also been a shift in consumer choices and objectives. A woman named Liu, who lives nearby Shanghai’s Wukang Mansion, claimed she would never go shopping line up for a handbag despite often purchasing designer goods. ” I like travelling a bit more”, sheContinue Reading