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| Break monopolies, open market to all, PH MP tells govt |
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Posted by: superadmin - 03-01-2023, 05:29 PM - Forum: Business. Economy and Investment
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KUALA LUMPUR: A government backbencher has urged Putrajaya to eliminate monopolies and cartels and open the market to allow more companies to import goods.
William Leong (PH-Selayang) said the country’s entire market structure needed to be “corrected” to eliminate monopolies and cartels in industries such as padi cultivation, construction goods, telecommunications, sugar and flour production, and palm oil.
“High food prices and the high cost of living arise from problems in the market structure.
“Monopolies and cartels take advantage of consumers by raising prices to the point of absurdity.
“Abuse committed by dominant market players and monopolies must be addressed to ensure sustainable economic growth,” he said when debating the supply bill in the Dewan Rakyat today.
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| Consumers are reaching a breaking point |
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Posted by: superadmin - 03-01-2023, 02:33 PM - Forum: Business, Economy and Investment
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![[Image: GettyImages_1402240679.0.jpg]](https://cdn.vox-cdn.com/thumbor/WJNctxjAbxKFWNxtS-giD2kDFwQ=/0x0:2121x1414/920x613/filters:focal(892x538:1230x876):format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/72016973/GettyImages_1402240679.0.jpg)
Over the past couple of years, there has been a somewhat confounding phenomenon going on with American consumers. They say the economy is terrible and are up in arms about inflation, but despite all that, many of them are spending their way through it. American shoppers will not be stopped — or, at least, they haven’t been stopped yet.
Consumers have largely been hanging in there, economically. Stimulus checks and savings built up during the pandemic have left them with extra cash they’ve been eager to spend. Retail sales seemed to slow at the end of 2022, but in January 2023, they rebounded once again. Despite the fact that many companies have increased prices in order to offset their own rising costs, they’ve also taken advantage of the inflationary moment to raise prices and increase their profit margins to their highest level in decades — if everybody knows everything’s getting more expensive, it’s easier to get them to go along with rising costs. Plenty of executives were quite open about what was going on.
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| Tesla gets approval to import battery-electric vehicles: Miti |
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Posted by: superadmin - 03-01-2023, 01:19 PM - Forum: Business. Economy and Investment
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In realising this objective, Tesla will establish a head office in Malaysia, introduce Tesla’s “experience centres” and service centres, and establish its “Supercharger” network.
Tesla’s presence in Malaysia is expected to create skilled and better-paying job opportunities for workers in the BEV segment besides increasing the participation of local companies in the Tesla ecosystem, both domestically and globally.
“We are pleased by Tesla’s decision to establish its presence in the electric vehicle ecosystem in Malaysia.
“This demonstrates Tesla’s confidence in our economic fundamentals and conducive business environment,” its minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said in a statement.
He said even as major global brands decide to invest and reinvest in Malaysia, his ministry and its agencies will continue to enhance efforts to improve the ease of doing business, while continuously profiling Malaysia as pro-trade, pro-industry, and pro-investment.
“We will also strategically leverage on our established electrical and electronics ecosystem to make Malaysia the preferred investment destination for technology related to electric mobility,” he added.
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![[Image: 84796c2f-william-leong-screengrab-010323.jpg]](https://media.freemalaysiatoday.com/wp-content/uploads/2023/03/84796c2f-william-leong-screengrab-010323.jpg)
![[Image: 22112020-Workerstesla-pixabay.jpg]](https://media.thevibes.com/images/uploads/covers/_large/22112020-Workerstesla-pixabay.jpg)
