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Economy To Remain Favourable In August-October

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KUALA LUMPUR- Malaysia’s economy is expected to remain favourable between August to October 2018 based on the findings of the economic indicators, says the Statistics Department. It said on Monday the monthly leading index (LI) indicator in April increased by 0.1% to reach 119.1 points from 119.0 points in March. “Two main components of LI…

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Fish Prices Remain Unchanged During Raya

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KUALA LUMPUR- Wholesalers are still maintaining the prices of various types of fish at the Chow Kit market during the Hari Raya festive season. In a survey by NSTP, fish prices remain the same except for tuna increased from RM9 per kilogramme to RM10 due to high demand while other fishes such as mackerel, sardines,…

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Bank Negara Expects Prices Of Goods And Service To Fall After GST Reduced To Zero

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KUALA LUMPUR- Bank Negara Malaysia ( BNM) expects the price of goods and services to decline following the new government’s announcement to reduce the Goods and Services Tax to zero per cent on June 1, 2018. Governor Tan Sri Muhammad Ibrahim said it was important for the relevant authorities to ensure that businesses pass the…

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Facebook’s Zuckerberg To Meet European Parliament Over Privacy

in Latest/Life Style

BRUSSELS- Facebook CEO Mark Zuckerberg will meet the leaders of the European Parliament to answer questions about the improper use of millions of users’ data by a political consultancy, as pressure on the company’s protection of data continues. The world’s largest social network has come under scrutiny over the way it handles personal data after…

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GST Goes ‘Zero Per Cent’ From June 1

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KUALA LUMPUR- The Goods and Services Tax will be zero-rated effective June 1. The Finance Ministry, announcing this in a statement today, said the change goes into effect nationwide and will remain until further notice. Only items which are GST-exempted will not be zero-rated. “As such, all registered traders should abide by the zero-rating directive.…

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Proton To Reimburse Buyers If GST Abolished

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KUALA LUMPUR- National car maker Proton has launched a price guaranteed initiative to reimburse buyers if the prices are reduced following the government’s plan to abolish the Goods and Services Tax (GST). It said on Wednesday the “Proton price guaranteed” was to prevent speculation and also to give its customers peace of mind following the…

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Mavcom Refutes Tony’s Claims, Lodges Police Report

in Crimes/Latest

KUALA LUMPUR- The Malaysian Aviation Commission (Mavcom) today refuted AirAsia chief executive officer Tony Fernandes’ claims that the airline was pressured to cancel an additional 120 flight during the 14th General Elections period. In a statement today, Mavcom said it viewed the claims seriously and has lodged a police report against Fernandes over the allegation.…

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Australia Probes Claim Google Harvests Data, Consumers Pay

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SYDNEY- Google is under investigation in Australia following claims that it collects data from millions of Android smartphones users, who unwittingly pay their telecom service providers for gigabytes consumed during the harvesting, regulators said on May 15. Responding to the latest privacy concerns surrounding Google, a spokesman for the US based search engine operator said…

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After Three Years, GST Has Saved Billions Lost In SST

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KUALA LUMPUR- Three years after its introduction in April 2015, the Goods and Services Tax (GST) has plugged the loss of billions of ringgit through the Sales and Services Tax (SST). Collections from the GST last year amounted to more than RM40 billion which was returned to the people through various projects including upgrading infrastructure…

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Affin Hwang Research Upgrades Consumer, Autos, Cautious On Construction

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KUALA LUMPUR:- Affin Hwang Capital Research believes the newly formed government under Pakatan Harapan (PH) presents an opportunity as it is comprised of a group of senior ministers with strong credibility. It said on Friday that in the intial stage, there is the possibility of short-term capital outflows because of policy uncertainties. However, it pointed…

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Ringgit Still Has Upside, Says AmBank Research

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KUALA LUMPUR- The ringgit still has its upside as it will benefit from the country’s strong linkage in the global supply chain amid robust global export volumes, says AmBank Research. The research house said on Tuesday that expectation of improving public finances, surplus current account, healthy reserves and foreign appetite into the local bourse and…

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The US$5Mil Google Tax That Could Fix Every Silicon Valley Problem

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Mountain View’s mayor, Lenny Siegel, says it has “too many good jobs” and not enough transit. The solution: Slapping a multimillion-dollar tax on Google, by far the city’s largest employer. The tax, which may end up on the November ballot, could charge Google as much as US$5.4mil (RM21.29mil) annually, according to one option under discussion.…

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Billionaire Investor Carl Icahn Sells US$2.78Bil Stake In AIG

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NEW YORK- Billionaire investor Carl Icahn has sold his stake in American International Group Inc, ending a more than two-year association with one of the largest U.S. property and casualty insurers, according to a person familiar with the matter. The activist investor started accumulating AIG shares in 2015 and became its third largest investor with…

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KLCI Chalks Up Mild Gains At Midday As Public Bank Lifts

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KUALA LUMPUR- Blue chips advanced at midday on Monday, with the FBM KLCI supported by fund buying of Public Bank and some nibbling of Petronas Chemicals and Genting Bhd However, the broader market and trading volume reflected the investors’ lack of enthusiasm as the investors’ mood was focused on the General Election 14 on May…

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Imminent Facelift For Sentul Market

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KUALA LUMPUR – Plans are on the drawing board to redevelop the dilapidated Sentul Market. Kuala Lumpur City Hall (DBKL) is studying how best to redevelop the market that is located in a congested area, said DBKL Economic Planning and Development Department director Azmi Abdul Hamid. “The redevelopment may require the use of adjacent land…

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Fire Breaks Out At Tsukiji Fish Market

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TOKYO – Dozens of Tokyo firefighters battled a blaze at the world’s largest fish market and one of the capital’s most popular tourist sites, as grey smoke billowed over the city. There were no immediate reports of injuries or people trapped, media said. The 80-year-old Tsukiji fish market draws tens of thousands of visitors a…

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Toxic Chemicals Detected At Tokyo’s New Fish Market Site

in Latest/Slider

High levels of toxic chemicals were found in groundwater tests at a new facility scheduled to replace Tokyo’s Tsukiji fish market – the world’s largest – clouding the costly relocation plan, news reports said Jan 14. The controversial project has been delayed over fears about toxic contamination, which also impacted the 2020 Olympics to be…

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Markets In Free Fall As Trump Moves Into Lead

in Latest/Slider

HONG KONG: Markets went into free fall Wednesday and the Mexican peso tanked as Donald Trump appeared to be moving into the lead in the race for the White House. Safe haven assets rallied as investors went running for cover, with the yen and gold rushing higher. Initial confidence that market favourite Hillary Clinton would…

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Online Marketing Gaining Popularity

in Latest

KUALA LUMPUR – Online marketing service is gaining popularity among city folks, especially among working housewives. Seeing the potential, Azeem Mohamed, 28, started his online marketing delivery service five months ago. Using the concept “We Bring The Market To You”, his delivery business, PasarTap, prospered and is now sought after in the Klang Valley area.…

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Call For Clear Definition Before Implementing New Regulations On RON95 Petrol

in Top News

KUALA LUMPUR – The government should provide a clear definition on those referred as “high income earners” before implementing new regulations on the subsidised RON95 petrol. Federation of Malaysian Consumers Associations (Fomca) deputy president, Mohd Yusof Abdul Rahman said this was because the definition of this group differed according to the situation and where they…

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