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We must have a Plan B, says finance minister Posted by: superadmin - 10-31-2021, 09:32 AM - Forum: Business. Economy and Investment - No Replies KUALA LUMPUR: The government has asserted the importance of increasing the debt ceiling to provide “wiggle room” by which to finance the government’s budget deficit and provide funds for implementing the 12th Malaysia Plan, finance minister Tengku Zafrul Aziz said today. He said that although the government’s debt ceiling was raised to 65% of gross domestic product (GDP), what was more important was the ability to repay the loan. “If we were to pull the brake too fast, where we suddenly don’t want to spend or make an expansionary fiscal policy, our economy can’t recover faster than we expect. “So, the government’s important responsibility is to ensure that its financial position remains stable so that it is ready and able to implement counter-cyclical measures in the event of a crisis,” he said in a special interview with Bernama TV and Astro Awani. Tengku Zafrul said the government’s revenue projections were not enough for 2022 to fund all the programmes that were announced yesterday in the federal budget, especially for large projects. - More -   How nice to be a Bumiputera or civil servant, remarks Zaid Posted by: superadmin - 10-31-2021, 09:28 AM - Forum: Stop Racism and Religious Bigotry - No Replies PETALING JAYA: Former law minister Zaid Ibrahim has remarked that it is “nice” to be a Bumiputera or a civil servant, noting the billions in allocations and perks provided. The 2022 budget announced today includes RM11.4 billion for Bumiputera programmes, of which RM6.6 billion is for Bumiputera education programmes. Other Bumiputera allocations include RM4.8 billion for capacity-building programmes and RM100 million in matching grants for Bumiputera SMEs in the aerospace industry. - More -   PN on the losing end if PAS uses own logo, says analyst Posted by: superadmin - 10-31-2021, 08:39 AM - Forum: Politics - No Replies PETALING JAYA: Perikatan Nasional (PN) parties, particularly Bersatu and Gerakan, will be on the losing end should their coalition ally PAS decide to contest the Melaka state elections using its own logo, says a Singapore-based analyst. Oh Ei Sun of the Singapore Institute of International Affairs said PAS is strongest when it uses its own logo because of its association with the party’s long political struggles, whereas PN has few supporters. - More -   Taiwan has no future other than reunification with mainland Posted by: superadmin - 10-30-2021, 04:35 PM - Forum: Politics - No Replies Taiwan has no future other than reunification with mainland, no intl status other than being part of China: FM Wang Yi The island of Taiwan has no future other than reunification with the Chinese mainland, and it has no international legal status other than being part of China, Chinese State Councilor and Foreign Minister Wang Yi said in response to US calling for "meaningful participation" of Taiwan in the UN.  The US and some other countries could not stop the one-China principle 50 years ago, and they are much less likely to succeed in the 21st century. If they persist, they will pay the price, Wang said Friday in Rome, where he will attend the G20 summit.  Recently, the US and some other countries attempted to make breakthrough on the Taiwan question, which violates their political commitment made while establishing diplomatic ties with China and ignores the general will of UN members expressed in the Resolution 2758. The move also undermines the principles of the UN Charter and destructs the peace and stability in the Taiwan Straits, Wang said. - More -   Tax on foreign sourced income a significant change – Deloitte Malaysia Posted by: superadmin - 10-30-2021, 04:28 PM - Forum: Business. Economy and Investment - No Replies BUDGET 2022 expects an increase in tax collection by 5.9% on the back of a better economic outlook. Corporate tax collection is expected to increase by 8.1% to RM65.5 billion which is higher than pre-pandemic numbers in 2019.  This is optimistic but remains challenging if businesses are still trying to bounce back from Covid-19. The introduction of the one-off tax on companies that make super profits and taxation on foreign sourced income may provide some cushioning, but I also expect tax audits to be intensified to meet the collection target. From a tax reform perspective, the taxation on foreign sourced income is a significant change and will increase the tax bill of companies with overseas operations. More details should be provided in the finance bill in this regard and I hope that there are special circumstances available for companies to continue to enjoy exemption on such income. - More -   Clash of symbols: Perikatan to discuss use of coalition logo in Melaka, says Azmin Posted by: superadmin - 10-30-2021, 04:24 PM - Forum: Politics - No Replies KULIM – It looks like the clash of symbols is back as Perikatan Nasional (PN) will hold discussions with all its component parties following partner PAS’ invite to all to contest under its green banner in Melaka next month. PN election director Datuk Seri Mohamed Azmin Ali said the use of the blue PN logo in the Melaka polls will only be decided after discussions. “We will talk about it later. If there is a decision later, we will let you know. But so far there has been no discussion yet,” he said at a press conference after the ground-breaking ceremony at the AT&S industrial plant at Kulim Hi-Tech Park here today. – The Vibes, October 30, 2021   Billions, millions – merely political smokescreens: Ramli Ibrahim on Budget 2022 Posted by: superadmin - 10-30-2021, 04:22 PM - Forum: Politics - No Replies KUALA LUMPUR – Malaysian Indian classical dance pioneer Datuk Ramli Ibrahim has expressed his scepticism over the government’s biggest national budget that was tabled by Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz yesterday.   Ramli said that the declaration of millions and billions in Budget 2022 is merely a political smokescreen.  The artistic director of Sutra Dance Theatre used the Malay proverb “seperti melepaskan batuk di tangga” to imply that the government is half-hearted and inadequate in dealing with matters such as climate change and environmental sustainability.  “For me, the budget does not try to deal with one of the most pertinent and vital concerns plaguing us – climate change and environmental sustainability.  “Basically, the figures are political smokescreens and serve as ‘melepaskan batuk di tangga’ where these areas are concerned,” he said in a statement today. In his Budget 2022 tabling yesterday, Tengku Zafrul said the government will exempt import duties, excise duty, and sales tax for electric vehicles in efforts to achieve carbon neutrality by 2050. Aside from that, Tengku Zafrul announced that a total of RM450 million will be allocated to various ministries in implementing environment and biodiversity initiatives.   He also announced that a total of RM70 million will be allocated to the ecological fiscal transfer to preserve biodiversity to all states annually, and the implementation mechanism will be strengthened through outcome-based ecological criteria.   Ramli, who is also the chairman of Sutra Foundation chairman, commended the allocation of RM52.6 billion to the Education Ministry making it the largest recipient of the national budget.  However, he said it serves no purpose if the provision is focused on religious schools and tahfiz under the Malaysian Islamic Development Department (Jakim).  “Will this money contribute toward raising the standard of education or will it go towards more tahfiz or Jakim-type of education?  “And so much money for defence? Will we spend it purchasing another missing submarine?”   - More -   That’s what they want? Okay, says Hamzah sidestepping possible Muafakat in Melaka Posted by: superadmin - 10-30-2021, 03:57 PM - Forum: Politics - No Replies KUALA LUMPUR – Bersatu secretary-general Datuk Seri Hamzah Zainudin played coy when faced with a barrage of questions on rival Umno’s cooperation with PAS in next month’s Melaka election – a development that could very well leave his party out in the cold. In a press conference today, the Larut MP beat around the bush and sidestepped questions posed by members of the press pertaining to the matter, saying “this is a difficult question for me to answer”. Hamzah, who is also the secretary-general of Perikatan Nasional, only reiterated what has been reported on the “renewed” Umno-PAS alliance, or Muafakat Nasional, but did not comment on his party’s stand on the matter nor its own ties with the Islamist party. “From what I read, the Umno secretary-general (Datuk Seri Ahmad Maslan) did not mention the name of my party, Bersatu. “Based on the acceptance and understanding of laymen, what does this mean? This means they don’t want to cooperate with Bersatu. “What I understand is only the explicit (tersurat) meaning. That’s what they want, okay. If we’re talking about the implied (tersirat) meaning, I don’t understand,” he said in a presser during his visit to the Melaka police headquarters today. It is understood that prior to the press conference, he had a closed-door meeting with the state police contingent. – The Vibes, October 30, 2021   Bosses group confident budget will help cut unemployment rate Posted by: superadmin - 10-30-2021, 03:49 PM - Forum: Business. Economy and Investment - No Replies KUALA LUMPUR: The 2022 budget initiatives will help in alleviating the rising unemployment rate, said the Malaysian Employers Federation (MEF). In a statement today, it noted that the number of unemployed Malaysians rose to 711,000 in 2020 from 508,200 in 2019, while youth unemployment rose to 314,000 in 2020 from 295,800 in 2019. MEF president Syed Hussain Syed Husman commended the government’s allocation of RM4.8 billion to guarantee 600,000 job opportunities under the Jamin Kerja Keluarga Malaysia (JaminKerja) initiative. Additionally, employers who hire Malaysians who have not been actively employed will be provided with an incentive of 20% of the monthly salary for the first six months and 30% for the next six months. These are only for jobs that pay a monthly wage of RM1,500 and above. He also lauded the government for setting aside RM2 billion to continue the Wage Subsidy Programme that would benefit about 300,000 employees, especially those in the tourism and related sectors that were badly affected during the lockdowns. - More -   Biden’s $27 billion bet on forests Posted by: superadmin - 10-30-2021, 11:55 AM - Forum: Environment Protection News - No Replies As the White House revealed Thursday, President Joe Biden has stripped a lot from his Build Back Better framework to placate moderate Democrats. Free community college is out, as is Medicare coverage of dental and vision services, among several other priorities. But there is one surprising area that’s so far survived the congressional gauntlet as part of a big climate spending proposal: forest management and conservation. The bill — which Democrats are trying to pass with a simple Senate majority using the reconciliation process — allocates roughly $27 billion for spending related to federal, state, and tribal forests. While that’s just a sliver of the roughly $1.75 trillion spending package, it’s an enormous and historic number, said Collin O’Mara, CEO of the National Wildlife Federation. “It’s the most significant investment ever in our national forests,” O’Mara told Vox. “It’s an astonishingly big deal.” A large chunk of those funds would go toward preventing wildfires — which release huge amounts of carbon dioxide into the atmosphere and have devastated Western towns — and toward more equitable access to green spaces. The bill would also set aside billions of dollars for ecosystem restoration and more environmentally friendly farming practices. Biden’s framework reveals that conserving forests and biodiversity is a core component of the nation’s plan to tackle climate change, as many scientists say it should be: Trees and soil are a natural sink for carbon dioxide, making forests a key solution for cutting climate pollution. Yet for decades, biodiversity conservation and climate change have largely been considered separate issues. The bill also shows that the US government has recognized the growing threat of climate-fueled wildfires and is willing to fund the Forest Service to do something about it. But a few big questions remain, including whether the bill will pass. And some forest advocates fear that the boost in spending could actually increase commercial logging — which, in turn, fuels climate change. - More - Pages (865): « Previous 1 … 521 522 523 524 525 … 865 Next » Jump to page: