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Yellen says crypto is ‘very risky’ option for retirement savers Posted by: superadmin - 06-10-2022, 11:38 AM - Forum: Business, Economy and Investment - No Replies (June 10): US Treasury Secretary Janet Yellen said that cryptocurrency assets are a “very risky” choice to include in the retirement plans of average savers, and that it would be reasonable for Congress to address the danger. “It’s not something that I would recommend to most people who are saving for their retirement,” Yellen said Thursday in Washington at an event organised by the New York Times. “To me it’s very risky investment.” Yellen was responding to a question about an announcement from Boston-based Fidelity Investments in April that it would add a crypto option to workplace retirement plans it manages. The Labour Department has signalled its opposition. - More -   China's exports surge 16.9% in May as Omicron wanes, defy doomsayers Posted by: superadmin - 06-10-2022, 11:18 AM - Forum: Business, Economy and Investment - No Replies China's exports machine shrugged off the impact of the most severe COVID-19 outbreaks in the country and largely defied pessimistic views and badmouthing mostly in Western media, as the growth exceeded market expectations at 16.9 percent in May, pointing to China's effective control of the Omicron variant and economic resilience. The better-than-expected growth also showed that the country's economic recovery has been picking up amid the waning impact of the pandemic on multiple economic fronts, especially industrial and supply chains. Thanks to the effective control of the coronavirus outbreak and the government's efforts in boosting market supply and demand, the country is confident to sustain the current momentum and inject impetus into the sluggish world economic recovery, experts said.In May, China's exports stood at $308.25 billion, up by 16.9 percent on a yearly basis, significantly rebounding from the 3.9 percent growth in April, data from the General Administration of Customs (GAC) showed on Thursday. The figure far outpaces forecasts of around 8 percent. - More -   The Ongoing US-China Tensions Overshadowed by Ukraine Crisis Posted by: superadmin - 06-10-2022, 11:07 AM - Forum: Politics - No Replies   GST great, but needs fixing before reintroduction: experts Posted by: superadmin - 06-10-2022, 10:37 AM - Forum: Business. Economy and Investment - No Replies KUALA LUMPUR – With the twin shocks of increased spending and economic downturn, no thanks to the Covid-19 pandemic, Malaysia is in sore need of funds to replenish its depleted coffers. The government thinks the answer is Goods and Services Tax (GST), a very unpopular consumption tax introduced in 2015 that generated RM44 billion in 2017. Economists agree for the most part but say improvements and corrections must be done first before its second outing. “We are good at coming up with a new scheme or new approach or a new system, but quite miserable when it comes to maintaining it,” said Associate Professor Ahmed Razman Abdul Latiff, economic analyst at Putra Business School. When the Covid-19 pandemic hit, Malaysia lost an average RM2.4 billion daily during the first Movement Control Order (MCO) in 2020. The economy contracted 5.6%, while unemployment reached an all-time high at 5.3%. - More -   Aaron Chia-Wooi Yik storm into Indonesia Masters second round Posted by: superadmin - 06-10-2022, 08:59 AM - Forum: Badminton - No Replies KUALA LUMPUR: Malaysia’s top men’s doubles pair Aaron Chia-Soh Wooi Yik strolled through the first round of the Indonesia Masters 2022 in Jakarta, Indonesia with a 21-11, 21-19 win over compatriots Tan Kian Meng-Tan Wee Kiong. The world No 6 pair took only 36 minutes to settle the match at Istora Senayan and will meet Leo Indonesian pair Rolly Carnando-Daniel Marthin, in the second round after coming from a game behind to beat Ben Lane-Sean Vendy of England, 10-21, 21-13, 21-12. - More -   World faces largest cost-of-living crisis in a generation: UN report Posted by: superadmin - 06-09-2022, 10:32 AM - Forum: Business, Economy and Investment - No Replies NEW YORK (June 9): The world is facing a cost-of-living crisis unseen in at least a generation, partly due to the Ukraine conflict, said a UN report on Wednesday (June 8). "The largest cost-of-living crisis of the 21st century has come when people and countries have a limited capacity to cope," said the second report of the Global Crisis Response Group on Food, Energy and Finance over the Ukraine conflict. The Ukraine conflict has trapped the people of the world between a rock and a hard place. The rock is the severe price shocks in food, energy and fertiliser markets, given the centrality of both Russia and Ukraine in these markets. The hard place is the extremely fragile context in which this crisis arrived: a world facing the cascading crises of Covid-19 and climate change, it said, according to Xinhua. - More -   YOURSAY | ‘RM30,000 a month for doing nothing’ shows rot of the system Posted by: superadmin - 06-09-2022, 08:48 AM - Forum: Politics - No Replies Dr Raman Letchumanan: Former prime minister Najib Abdul Razak practices “cash is king”. I mean not his money but taxpayers' money.  Mohd Sidek Hassan, the former chief secretary of the government, by his own admission, received an allowance higher than his official salary (as the then chief secretary) for doing nothing, but his conscience doesn't prick him. At the other end of the spectrum, we have the dumbed-down masses who believe they are their saviours and protectors against the “pendatangs” who work and earn the money they squander. And that, ladies and gentlemen, is how Malaysia is governed by the supreme race with religious fervour and threats. Still, we are nowhere near Sri Lanka, a failed state. Malaysia is an economic and social engineering marvel. I guess the key is adherence to true religious faith. No wonder the civil service is so screwed up. I am glad I saw the rot and resigned. I 'donated' my pension to the government. I would be ashamed to receive it even if offered. I am not of such 'integrity' as Sidek. He has abused the term 'gaji buta' to an utter disgraceful level, where even animals fear to tread. Meanwhile, army veterans who recently protested on the streets are drawing a pension below poverty levels. - More -   Let Bon Odori fest proceed, Selangor sultan tells Jais Posted by: superadmin - 06-08-2022, 07:22 PM - Forum: Stop Racism and Religious Bigotry - Replies (8) PETALING JAYA: The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has instructed the Selangor Islamic religious department (Jais) to allow the Bon Odori festival scheduled for next month to proceed. In a statement, Jais said Sultan Sharafuddin also instructed Jais and Shah Alam City Council (MBSA) officers to attend Bon Odori to “see for themselves” what takes place at the festival. Jais director Shahzihan Ahmad added that the sultan himself had attended the festival several years ago and did not find that it was detrimental to the practice of the Islamic faith. This comes in the wake of religious affairs minister Idris Ahmad advising Muslims not to take part in the annual festival, claiming that the celebration is “influenced by elements of other religions”, following research by Jakim, the Islamic development department. - More -   Fed GDP tracker shows the economy could be on the brink of a recession Posted by: superadmin - 06-08-2022, 11:48 AM - Forum: Business, Economy and Investment - No Replies The Atlanta Federal Reserve’s GDPNow tracker is now pointing to an annualized gain of just 0.9% for the second quarter, down from an estimated 1.3% increase less than a week ago. With first-quarter growth down 1.5%, a second consecutive quarter of negative growth meets a rule-of-thumb definition for recession. The National Bureau of Economic Research, the official arbiter, says a recession can include two straight negative GDP prints, but that’s not necessarily the case. A widely followed Federal Reserve gauge is indicating that the U.S. economy could be headed for a second consecutive quarter of negative growth, meeting a rule-of-thumb definition for a recession. In an update posted Tuesday, the Atlanta Fed’s GDPNow tracker is now pointing to an annualized gain of just 0.9% for the second quarter. Following a 1.5% drop in the first three months of the year, the indicator is showing the economy doesn’t have much further to go before it slides into what many consider a recession. GDPNow follows economic data in real time and uses it to project the way the economy is heading. Tuesday’s data, combined with other recent releases, resulted in the model downgrading what had been an estimate of 1.3% growth as of June 1 to the new outlook for a 0.9% gain. - More -   Singapore finance minister promoted to deputy PM in succession sign Posted by: superadmin - 06-06-2022, 09:28 PM - Forum: Politics - No Replies SINGAPORE – Lawrence Wong will take up his new post with effect from June 13, Prime Minister Lee Hsien Loong said in a statement. The 49-year-old was earlier handed a key role in the country’s ruling party in April, in an initial signal of how the succession process would take shape. Lee, 70, is the son of Singapore’s late founding premier Lee Kuan Yew, and the upcoming leadership change is seen as sensitive because it marks the founding family handing power to a new generation of ruling party leaders. The financial hub of 5.5 million has been ruled by the People’s Action Party (PAP) since 1959, and leadership succession is usually a carefully choreographed affair. -  More - Pages (1340): « Previous 1 … 831 832 833 834 835 … 1340 Next » Jump to page: