PM calls for deeper appreciation of Asian history beyond colonial narratives
He cited Tipu Sultan of Mysore, an Indian ruler who fought against the British East India Company, as a model of courage, learning, and tolerance.
He said the contributions of Tipu and his father Hyder Ali...
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The Sun
10 minutes ago
- The Sun
Trump raises India tariffs over Russian oil imports as trade tensions escalate
WASHINGTON: US President Donald Trump has ordered higher tariffs on Indian goods in response to New Delhi's continued imports of Russian oil. The new 25% tariff will take effect in three weeks, adding to an existing 25% duty that begins on Thursday. This brings total tariffs on many Indian products to 50%, significantly increasing trade costs for Indian exporters. Trump's order also warns of penalties for other nations that import Russian oil, a key revenue source for Moscow's war in Ukraine. Certain goods, including steel, aluminum, smartphones, and pharmaceuticals, remain exempt from the latest tariff hike. India's foreign ministry condemned the move, calling it 'unfair, unjustified and unreasonable.' Officials noted that India turned to Russian oil after traditional suppliers diverted shipments to Europe due to the Ukraine conflict. Trump has pressured India to reduce Russian oil purchases as part of broader efforts to isolate Moscow economically. India's national security adviser was reportedly in Moscow on Wednesday, coinciding with a visit by US envoy Steve Witkoff. The latest tariff is lower than the 100% duty Trump previously threatened if Russia failed to end its war in Ukraine within 50 days. Farwa Aamer of the Asia Society Policy Institute called this a 'low point in US-India relations.' She expects domestic pressure in India to comply with US demands but predicts difficult negotiations ahead. Separately, Trump increased tariffs on Brazilian goods from 10% to 50% over political tensions involving former president Jair Bolsonaro. Brazil has initiated WTO dispute proceedings against the new US tariffs, according to government sources. On Thursday, updated 'reciprocal' tariffs targeting the EU, Japan, South Korea, and others will take effect, with rates up to 41%. Switzerland's president rushed to Washington ahead of the deadline, though it remains unclear if she will meet Trump. Mexico plans to strengthen trade ties with Canada as both nations face US tariff pressures.
Malay Mail
40 minutes ago
- Malay Mail
Anwar wants MCMC to investigate Muhyiddin's denial of defending foreigners in RON95 subsidy issue
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Malaysian Reserve
an hour ago
- Malaysian Reserve
Reaffirming Malaysia's chip ambitions
by CIMB SECURITIES AT THE ASEAN Semiconductor Summit 2025 (ASEMIS), Prime Minister Datuk Seri Anwar Ibrahim and Ministry of Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz reinforced Malaysia's ambition to become a global semiconductor powerhouse under the National Semiconductor Strategy (NSS). Launched in May 2024, the NSS aims to shift Malaysia beyond a 'Made in Malaysia' model to a 'Made by Malaysia' one by strengthening local capabilities in integrated circuit (IC) design, research and development (R&D), advanced packaging and nurturing homegrown champions across the value chain. NSS Progress Since its launch, the NSS has attracted RM63 billion in investments (RM58 billion foreign direct investment [FDI], RM5.2 billion domestic direct investment), led by high-impact projects from Infineon (opened world's largest 200mm silicon carbide power fab), Carsem (M) Sdn Bhd's advanced packaging technologies for artificial intelligence (AI) and energy efficiency, NXP Semiconductors NV's semiconductor products, Syntiant Corp's micro-electro-mechanical systems (MEMS) microphone and sensors, and Plexus Corp' manufacture and re-manufacture of printed circuit boards. These investments underscore rising investor confidence in Malaysia's semiconductor ecosystem. Building Local Champions Malaysia aims to develop 10 local semiconductor firms with revenues exceeding US$1 billion (RM4.24 billion) and 100 firms with revenues exceeding RM1 billion. The government has identified 13 Malaysian-based companies across the semiconductor value chain as key beneficiaries, including Carsem (Malaysian Pacific Industries Bhd [MPI]), Inari Amertron Bhd, Pentamaster Corp Bhd, ViTrox Corp Bhd and Kellington Group Bhd. In addition, promising IC design and services firms like Oppstar Bhd, SkyeChip Sdn Bhd, Infinecs Systems Sdn Bhd and Experior are also being nurtured to spearhead Malaysia's next phase of semiconductor growth. Talent Development and Wages Uplift Over 30,000 high-skilled workers have been trained under NSS-linked programmes. Initiatives by Collaborative Research in Engineering, Science and Technology (CREST), TalentCorp (M) Bhd and the Ministry of Human Resources (Kesuma) have led to wage gains of up to 20% for over 1,100 participants. The median manufacturing wage rose 6% year-on-year (YoY) to RM2,745 per month in the first quarter of 2025 (1Q25). Strategic Funding and Support More than RM2 billion has been committed by government-linked investment companies (GLICs) (eg, Khazanah Nasional Bhd, Retirement Fund Inc [KWAP]) and development banks via the GEAR-uP initiative. This complements a planned RM25 billion in total fiscal support under the NSS to accelerate R&D, ecosystem development and global partnerships. ASEAN Supply Chain Integration As ASEAN Chair in 2025, Malaysia is spearheading the ASEAN Integrated Semiconductor Supply Chain Framework to harmonise talent flows, fiscal incentives and infrastructure across member states. A memorandum of understanding (MOU) signed by the semiconductor associations of Malaysia, Singapore, Vietnam, Thailand and the Philippines aims to create a unified regional chip ecosystem. Conclusion Malaysia's transition from a back-end assebly base to a design-to-packaging semiconductor hub remains a work in progress. However, we are encouraged to see that the NSS is gaining investor traction, institutional support and regional momentum. With RM63 billion in committed investments, an increase in local champions and stronger ASEAN alignment, Malaysia is positioning itself as a neutral, indispensable node in the global chip supply chain. We see this as one of the key advantages in ensuring Malaysia remains an attractive destination for semiconductor manufacturing globally. Our current top picks in the Malaysian outsourced semiconductor assembly and test (OSAT) sector are Inari Amertron ('Buy'; target price [TP]:RM2.20) and MPI ('Buy'; TP: RM30). We also like ViTrox ('Hold'; TP: RM3.80) for exposure to the Malaysian Automated Test Equipment (ATE) sector. Extracted from CIMB Securities Sdn Bhd's report dated July 25, 2025. This article first appeared in The Malaysian Reserve weekly print edition
