Two tankers contain 850 and 680 litres of petrol

Malaysia's two leading ports posted a combined throughput of 24.9 million TEUs in 2021, with Port Klang (pictured) at 13.7 million TEUs and PTP at 11.2 million TEUs, their highest achievements. - A + A KUALA LUMPUR (June 27): Transport Minister Datuk Seri Dr Wee Ka Siong is hopeful that the combined container volume for Port Klang and Port of Tanjung Pelepas (PTP) will be close to last year’s record-breaking figure, despite the global supply crunch due to the Russia-Ukraine conflict. The nation's two leading ports posted a combined throughput of 24.9 million twenty-foot equivalent units (TEUs) in 2021, with Port Klang at 13.7 million TEUs and PTP at 11.2 million TEUs, their highest achievements. Noting that the Russia-Ukraine conflict had resulted in higher oil prices and a shortage of commodities, Wee said this had affected the performance of the ports. “This happened not only in Malaysia but worldwide. But I am still optimistic that these two ports will not … [Read more...] about Wee: Container volume at Port Klang, PTP expected to be near last year’s record level despite headwinds

- A + A PUTRAJAYA (June 27): The government is willing to bear the projected huge subsidy totalling RM77.3 billion for this year towards stabilising the prices of goods and avoiding high inflation rates of up to 11.4%, says Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed. He said the government had a choice of removing subsidies and strengthening the country’s finances to a better level, but it chose to bear the subsidies instead for the welfare and well-being of the people. Mustapa said the announcement on June 24 by Prime Minister Datuk Seri Ismail Sabri Yaakob of no increase in the water and electricity tariffs, and the chicken price not being floated showed the government’s caring side and commitment to maintaining the subsidies. Referring to the projected consumer subsidy expenditure amounting to RM77.3 billion for 2022, he said RM51 billion of it made up the biggest component of fuel, cooking oil, electricity, water, chicken … [Read more...] about Govt continues giving subsidies to stabilise prices, avoid high inflation

- A + A ZURICH (June 27): Credit Suisse Group AG has said mining company Bluestone Resources will make overdue payments of up to US$320 million, in a settlement that moves the bank closer to recovering funds caught up in the collapse of Greensill Capital. Bluestone had committed to making payments starting from this month to investors in funds including the supply-chain finance products that were frozen amid the failure of Greensill last year, the bank said in a statement on Friday. Credit Suisse said earlier this week it had so far recovered about 73% of the cash funds' assets as of their suspension. The maximum payments Bluestone agreed to amount to 38% of the outstanding debt, which would leave hundreds of millions in paper losses. Credit Suisse said that Bluestone also agreed to share proceeds from the sale of any entities and that the bank has made insurance claims to try to recover additional funds. The mining company, which is owned by the family of West … [Read more...] about Credit Suisse set to receive payments from Bluestone

- A + A FRANKFURT (June 27): European Central Bank (ECB) policymakers gather on a Portuguese hillside on Monday with the sinking feeling that their rush to tackle the inflation shock they failed to forecast risks both a recession and echoes of the euro area's sovereign debt crisis. As president Christine Lagarde and colleagues meet in the resort of Sintra for their version of the Federal Reserve's (Fed) Jackson Hole conference, they face competing tasks: cool the fastest consumer-price growth in the euro's history without delivering an economic downturn or sparking a 2012-style spike in borrowing costs in Italy, the region's third-largest economy, and other vulnerable states. Markets are already sounding an alert on what may lie ahead. Italian government bond yields jumped past 4% this month for the first time since 2014 as investors took fright at the ECB's plan to raise interest rates in July for the first time in a decade. With that hike locked in, and another … [Read more...] about ECB’s pivot towards rate hikes feeds fears of new bond crisis

Editor’s Note: This story contains one of our 10 Best Business Lessons of 2013. For the full list, click here . advertisement LittleBits Founder and CEO Ayah Bdeir didn’t want to be an engineer, despite what her diploma tells you. So while she completed her education at the American University of Beirut, Bdeir explored the discipline she did have a genuine interest in: design. “What I ended up doing was talking classes in design and spending a lot of time in the design departments even as I was doing my engineering undergrad and those classes were not required,” she says. “At that point that was only to fulfill my interests and keep me from being bored, but ultimately that really changed my life and really influenced very much what littleBits is about.” advertisement And it worked. Bdeir is now one of Fast Company ‘s most creative people, and her company littleBits is making all kinds of noise around town . Bottom Line : “I think it’s … [Read more...] about Why The Most Interesting Things Happen Where Disciplines Intersect

For music geeks, building a synthesizer has always been a way to experiment with sound, far beyond what commercial synths will allow. But for those who have never picked up a soldering iron, it can be intimidating. Last week, open-source hardware startup littleBits unveiled its answer: SynthKit, a modular synthesizer kit that lets anybody–from hardcore hobbyists to toddlers–snap together their own miniature playable synths. advertisement advertisement The littleBits Synth Kit , a collaboration with Japanese synthesizer company Korg, comes with 12 color-coded modules that each contain a standard synthesizer component: oscillators, a sequencer, a delay knob, a speaker, even a tiny keyboard. These pieces can be snapped together in any combination, making for an open-source, DIY analog synthesizer with hundreds of thousands of possible arrangements. At last Thursday’s launch event in New York City’s East Village, these little interchangeable widgets were … [Read more...] about This Open Source DIY Synthesizer Makes Music Hacking Dead Simple

LittleBits , a Lego-like series of modules that allows anyone to build electronic devices, has been getting increasingly sophisticated since its launch in 2008. This month, the company announced that it’s getting what may be its most complex module yet: the Arduino at Heart, which allows lets users incorporate the popular open-source electronics platform into everything they create with littlebits. advertisement “This is our first programmable bit. It’s the first bit that takes care of the hardware and makes it easy to get started. You can be a novice or professional programmer,” explains littleBits Founder and CEO Ayah Bdeir . She writes in a blog post: With the littleBits Arduino at Heart module, we removed the problems of hardware, so users can focus onthe code. For example, instead of having to solder together a circuit of power, ground, resistors and LEDs, a user can simply snap a littleBits power and LED module to the Arduino module and dive straight … [Read more...] about Making Your Own Programmable Hardware Devices Just Got A Little Easier

Representative Image A two-paragraph notification from the RBI on June 20, which clarified that loading prepaid payment instruments (PPIs) such as wallets and prepaid cards with credit lines was not permissible, left the entire fintech ecosystem concerned about the legality of many current business models. In a panel discussion by Moneycontrol, fintech founders and experts said that companies would have to build business models within these regulations if they are to thrive in the fintech space. Srinath Sridharan, a member of the Fintech Association for Consumer Empowerment, said that the move by the RBI shouldn’t be viewed as negative towards fintech startups. Earlier, MoneyControl had reported that fintech startup founders had not taken kindly to the notification issued by the RBI. Being a part of a regulated space, fintech startups would have to build business models around the rules, Sridharan said. “If you want to play the big boy game, be ready for fit and … [Read more...] about Prepare for scrutiny if you want to play the big boys’ game: Experts on RBI’s recent fintech crackdown

Amy Errett, chief executive of Madison Reed, the hair-color startup she founded in 2014, worked for the first decades of her career in finance and in venture capital . Despite those industries' reputations, it was within them that she carved out her signature leadership style, which she describes as "leading with love from an open heart." Foundationally, the style involves treating employees with respect, empowering their voices in decision-making, and showing up as her full, transparent, self. She tells Inc.'s What I Know podcast that "leading with heart" isn't some mushy concept. In fact, it's especially applicable when having tough conversations. "It's really true and authentic, including having to deliver bad news," she says. "I love you. So I am going to tell you the whole truth, right? I am not going to have a conversation that isn't direct, open, loving, from the intent of the heart." If this sounds a bit like parenting, it's not far off, Errett admits. … [Read more...] about This Founder Has $236 Million From Investors Including Jay-Z. Here’s How She’s Gearing Up For Hyper-Growth

Share to Twitter Share to Linkedin Topline Leaders of Group of Seven nations on Monday announced a support package for Ukraine, further sanctions against Russia and are reportedly nearing an agreement to set a price cap on Russian oil, a contentious issue as they debate ways to stave Putin’s war chest while mitigating spiraling inflation, soaring energy prices and an impending global food crisis. Key Facts Leaders of the G-7 —a group of the world’s seven largest economies which includes the U.S., the U.K., Canada, France, Germany, Italy and Japan— announced a suite of new measures against Moscow, including imposing higher tariffs on Russian goods, restricting Russian gold exports and imposing new sanctions on officials and organizations supporting the war effort. The group also unveiled a new support package for Ukraine, including the provision of military hardware, using the higher tariffs on Russian goods to help Ukraine and “financial, … [Read more...] about G-7 Leaders Nearing Price Cap On Russian Oil Funding Putin’s War Chest