Politics

- A + A KUALA LUMPUR (Jan 20): Employees Provident Fund (EPF) withdrawals should not be made too easy as it is a form of savings for the contributors’ future, said Opposition Leader Datuk Seri Anwar Ibrahim. He said instead of giving permission to withdraw the EPF savings when disasters, especially floods, hit the country, the government could channel various assistance to the victims. “Some say that contributors should be given the flexibility to withdraw their own money but I am leaning towards the unpopular opinion that it cannot be made too easy because this small amount of money is to secure their future. “Moreover, the group is quite poor so if they take the money, in five or six years after retirement, there is no guarantee they will have enough in their accounts for their families and themselves,” he said when debating on the flood disaster at the Special Meeting of Dewan Rakyat here on Thursday (Jan 20). Anwar said the government should channel … [Read more...] about Anwar: EPF withdrawals should not be made too easy

This article first appeared in The Edge Malaysia Weekly, on January 10, 2022 - January 16, 2022. (Photo by Suhaimi Yusuf/The Edge) - A + A AS a technocrat, Finance Minister Tengku Datuk Seri Zafrul Aziz knows fiscal reforms are painfully overdue. He felt the financial strain firsthand as the government’s cash needs skyrocketed in the past two years due to the necessary spending to save lives and livelihoods hit by the Covid-19 pandemic. The ex-investment banker also knows Malaysia — whose direct debt burden will cross the RM1 trillion threshold this year — needs debt to be more productive in order to expand the economic pie and sustain growth towards the desired high-income status. As it is, interest payments on direct government debt alone take away more than RM18 out of every RM100 the government earns. This and the fact that RM49 out of every RM100 earned goes to paying civil servants’ salaries and public pension obligations are clear signs that the … [Read more...] about Cover Story: Making the right but unpopular moves

This article first appeared in The Edge Malaysia Weekly, on January 10, 2022 - January 16, 2022. The government has discussed flood mitigation plans and will have to come up with a long-term solution (Photo by Mohamad Shahril/The Edge) - A + A Finance Minister Tengku Datuk Seri Zafrul Aziz looks none the worse for wear after two years in the political hot seat of overseeing the country’s finances. The former investment banker knows tough measures need to be made fast but admits that changes to the status quo will not be easy to push through. Below are excerpts from his interview with The Edge’s Cindy Yeap and Esther Lee. The Edge: It’s been only two months since the tabling of Budget 2022 but so many things have happened that it looks like you need to redo the budget or table a supplementary budget. Zafrul : Every year, there is a supplementary budget but, yes, only just now I told the cabinet that we have to relook and reprioritise to make … [Read more...] about Cover Story: Ensuring fiscal sustainability

- A + A LONDON (Jan 20): European stocks fell on Thursday as cautious investors continued to assess how far and fast the US Federal Reserve will begin raising interest rates this year. Also keeping a lid on risk taking were the tech-laden US Nasdaq entering correction territory on Wednesday, a sell-off in bonds, still elevated crude oil prices and increased political tensions over Ukraine. But Chinese stocks were a bright spot after the country cut benchmark mortgage reference rates to ease pressure on its property sector. The STOXX index of 600 European companies was down 0.17% at 480 points, below its life-time high of 495.46 points hit in the first week of trading this year. Blue-chip indexes in Frankfurt, Paris and London were all lower. Gains in Asia helped to counter the pullback in Europe to keep the MSCI all country stock index in positive territory, up 0.16% at 728 points, but still down about 3.8% so far this year. "There is a tonne of caution now," … [Read more...] about Stocks slip in Europe as investors refine Fed hike bets

- A + A Speculation has been rife that Finance Minister Tengku Datuk Seri Zafrul Aziz (pictured) could be making his move into politics, ever since former Federal Territories Minister Datuk Raja Nong Chik Raja Zainal Abidin said last July that Zafrul could be fielded as an Umno candidate for the Lembah Pantai parliamentary constituency in the 15th general election (GE15). With the upcoming GE anticipated to be held either this year or in 2023, at the latest, talk of Zafrul contesting in the election has tailed off. The most recent speculation that has surfaced is that he is slated to run in Kuala Pilah, Negeri Sembilan. When pressed on speculation that he might run in Kuala Pilah, his reply was that Kuala Pilah is his mother’s and his wife’s hometown. He adds that his great-grandfather was also buried in Kuala Pilah. “Tell me the upside of running, then I’ll decide,” he says in jest. What is worth noting is that while Zafrul could run in the upcoming election if … [Read more...] about Zafrul: Tell me the upside, then I’ll decide

London (CNN Business) When protests swept Kazakhstan earlier this month, they were fueled by frustration with the ruling elite and entrenched inequality. But the unrest was sparked by a specific catalyst: an end to a government subsidy. The cost of liquefied petroleum gas — which most people in the western part of the country use to power their cars — doubled overnight after the government lifted price caps . The ensuing turmoil, which saw thousands of protesters take to the streets, resulted in a Russian-led military intervention , the resignation of the government and the deaths of more than 200 people. The episode is a reminder of the challenges facing governments that want to tackle longstanding fuel subsidies, either to reform markets and save money, as was the case in Kazakhstan, or to encourage people to switch to cleaner energy. There's a consensus that eliminating these subsidies soon is crucial to reaching net-zero emissions targets and averting the worst … [Read more...] about Ditching fossil fuel subsidies can trigger unrest. Keeping them will kill the climate

Story highlights Some of the protesters battle riot police Chanting against the king is very rare in Jordan Tuesday night, 14 people were injured, some by gunfire, authorities say King Abdullah II is friendly with Israel and the West and brings stability to the region Demonstrators in Amman, Jordan, battled riot police Wednesday in a fury over gas prices. And those who stayed after the tear gas and water cannons were fired did something rare in that nation: They chanted slogans against King Abdullah. The fighting was in the Jabal al Hussein area, along Soukaina -- one of the main roads running through the capital. Hundreds of demonstrators called on the government to reverse its decision to raise fuel and gas prices. Riot police worked to break up the crowd, and most people fled. But a handful stayed and engaged in a standoff with the police, who fired tear gas canisters to try to force the demonstrators back. CNN saw police beat one man and take him away, and … [Read more...] about Jordanian protesters make rare move: speak out against King Abdullah

Creamline’s Michele Gumabao. PVL MEDIA BUREAU MANILA, Philippines—Michele Gumabao will sit out the coming 2022 Premier Volleyball League Conference as she decided to focus on the Mothers for Change party-list and the National Elections. Mothers for Change, which has controversial figure Mocha Uson as its standard bearer, will make it to the final ballots after it was tagged with “pending incidents” that could’ve excluded it from the 2022 elections. Gumabao, in an interview with One PH’s Wag Po, said that she’s still with Creamline despite foregoing the coming PVL season. “As of now I’m under a leave of absence for an indefinite period but I’m still with Creamline,” said Gumabao in Filipino. “They’re my team for the past three years and we won several championships.” “If the party-list makes it, Mocha would be the first nominee and if God’s willing then I can get in as well. So we’ll see.” Gumabao, a former UAAP Finals MVP for De La Salle, helped lead the Cool Smashers to … [Read more...] about Michele Gumabao takes leave from Creamline ahead of elections

In this episode, Vince and Jason sit down with Georgia candidate for Governor Vernon Jones to discuss his campaign, Biden’s divisive Georgia speech, election issues, crime, vaccine mandates, and climate change. (RELATED: Vernon Jones Will Challenge Georgia Gov. Kemp In 2022 Republican Primary) “Vince & Jason Save The Nation” is a political debate show that grapples with America’s most pressing questions. The show features intelligent, brutally honest conversations between Vince Coglianese and Jason Nichols, two nationally renowned political commentators who come from opposite sides of the political divide but share a profound love of country. Enlisting the support of their fascinating and talented guests, Vince and Jason tackle the existential issues confronting America and set out on their quest to Save the Nation. Subscribe to Save The Nation on Apple Podcasts: https://rb.gy/mletxb Subscribe to Save The Nation on Spotify: https://rb.gy/jd7gdx … [Read more...] about Black Conservative Running For GA Gov Flipped From Dem To Republican | Guest Vernon Jones | Vince & Jason Save The Nation

Herschel Walker’s campaign manager fired back at a report Tuesday that the Georgia Republican Senate candidate follows accounts on Instagram linked to OnlyFans. “This is stupid. He follows or is followed by tens of thousands of people,” Walker’s campaign manager Scott Paradise said in a statement, according to The Atlanta Journal-Constitution. The outlet reported that Walker’s account, therealherschel34, follows users on OnlyFans, a platform popular with porn stars. (RELATED: Herschel Walker Miles Ahead In Georgia’s GOP Senate Primary, Poll Shows) “A review of Senate candidate Herschel Walker’s Instagram account shows he follows several accounts with links to racy material. One of the accounts has a name not suitable for a family newsletter.” https://t.co/6a0N15wb6Y — Kirk A. Bado (@kirk_bado) January 18, 2022 Agriculture Commissioner Gary Black’s campaign — Walker’s top Republican rival in the primary — took a shot at the former football star over the report. … [Read more...] about Herschel Walker’s Campaign Manager Fires Back At Report That The Candidate Follows OnlyFans Users On Instagram