Restrictions on Indonesian Workers’ Entry to Malaysia Withdrawn
Human Resources Minister Datuk Seri M. Saravanan said Indonesia has lifted its restrictions on the entry of its workforce into Malaysia, and agreed to integrate the existing system between the Malaysian Immigration Department and the Indonesian Embassy in Kuala Lumpur for the recruitment of Indonesian domestic workers (PDI).
“The integration of this system will act as a single channel for the recruitment and entry of PDI into Malaysia as agreed in the previous Memorandum of Understanding (MoU),” he was quoted as saying. To read the full story click here
Fed Chair Says Another Large Hike Possible At Next Meeting
US Federal Reserve Chair Jerome Powell said Wednesday that another “unusually large” interest rate increase is possible at the central bank’s next meeting in September.
“While another unusually large increase could be appropriate at our next meeting, that is a decision on the data we get between now and then,” Powell said at a news conference after the Federal Open Market Committee (FOMC) raised the target range for the federal funds rate to the 2.25% – 2.5% range with a hike of 75 basis points. To read the full story click here
Blackout: TNB Says 10% of Total Power Supply Affected
Tenaga Nasional Bhd (TNB) has apologised to millions of customers following today’s power outage in the Klang Valley and neighbouring towns.
“Our technical team is presently analysing the incident’s cause. Efforts are underway to restore supplies.” TNB issued a statement. To read the full story click here
Federal Government Expenditure Amounted To RM 86.7 Billion In The First Quarter; MoF
The Federal Government expenditure amounted to RM86.7 billion in the first quarter of 2022, according to the Ministry of Finance (MOF).
“Most of the expenses are to cover emolument payments (RM22 billion), debt service payments (RM9.1 billion) and retirement payments (RM8.4 billion).
“In addition, a total of RM11.5 billion has been spent for the purposes of subsidies, assistance and incentives including subsidies for petrol, diesel and liquid cooking gas as well as Malaysian Family Assistance phase 1 payments,” said the ministry in a written reply in Parliament here. To read the full story click here
Malaysia Loses RM2.23 Billion To Cybercrime
Bank Negara Governor Tan Sri Nor Shamsiah Mohd Yunusin in her keynote address at the International Conference on Financial Crime and Terrorism Financing (IFCTF) 2022 said Malaysian is not spared from the growing threat of financial crimes.
As indicated in the National Risk Assessment 2020, fraud, the country endured higher number of cases and losses suffered compared to the previous assessment conducted in 2017. More than 20,000 cybercrimes were reported in 2021 alone, involving losses of RM560 million. Between 2017 to July 2021, Malaysians suffered losses of about RM2.23 billion on account of cybercrimes. As more people switch to mobile phones for online transactions, we are also seeing an increase in online banking fraud incidents involving mobile malware. To read the full story click here
Fed Chair Says Another Large Hike Possible At Next Meeting
US Federal Reserve Chair Jerome Powell said Wednesday that another “unusually large” interest rate increase is possible at the central bank’s next meeting in September.
“While another unusually large increase could be appropriate at our next meeting, that is a decision on the data we get between now and then,” Powell said at a news conference after the Federal Open Market Committee (FOMC) raised the target range for the federal funds rate to the 2.25% – 2.5% range with a hike of 75 basis points. To read the full story click here
