Latest news with #429
The Sun
22-05-2025
- Business
- The Sun
Sarawak state assembly approves two supplementary supply bills
KUCHING: The Sarawak State Legislative Assembly has unanimously passed two Supplementary Supply Bills involving a total of RM391,429,717 for additional expenditure that was not covered in previous allocations. The bills, tabled by Sarawak Deputy Premier and Second Minister for Finance and New Economy Datuk Amar Douglas Uggah Embas, were the Supplementary Supply (2024) Bill involving an allocation of RM153,769,197 and the Supplementary Supply (2025) Bill for RM237,660,520. According to Uggah, the Supplementary Supply (2024) is to meet the cost of various services incurred by various Ministries and Departments for which funds were not provided for or insufficiently provided for in the 2024 estimates. Meanwhile, he said the Supplementary Supply (2025) seeks additional expenditure, among others, a total sum of RM100,000,000 required by the Department of the Premier of Sarawak to cater for rental of air-chartered services due to increased activities. 'A total sum of RM72,264,000 is required by the Sarawak Ministry of Education, Innovation and Talent Development to cater for a special Pocket Money Initiative at RM1,200 per Sarawakian student pursuing a Diploma or Bachelor's Degree in higher education institutions throughout Malaysia. 'A total sum of RM62,271,138 is required by the following Ministries and Departments to cover payment for special monthly allowance, Bantuan Insentif Sara Hidup, to all Sarawak Civil Servants effective January 2025,' he added.
Express Tribune
19-05-2025
- Business
- Express Tribune
Gold up Rs4,000 as dollar dips
Gold prices in Pakistan continued their upward trajectory on Monday, mirroring gains in the international market where the yellow metal rose due to a weaker US dollar and renewed safe-haven demand following the US credit rating downgrade. In the domestic market, the price of gold per tola surged Rs4,000 to settle at Rs342,500, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Similarly, the price of 10-gram gold rose Rs3,429 to Rs293,638. This rally follows Saturday's momentum when gold rose Rs2,400 to hit Rs338,500 per tola, reflecting sustained buying interest and global cues. Analysts note that with the rupee holding relatively stable, gold's local price movements are being closely dictated by international trends and investor sentiment in response to the economic uncertainties abroad. Globally, gold prices drifted higher on Monday, steered by a softer dollar and safe-haven demand after Moody's downgraded the US government credit rating, according to Reuters. Spot gold rose 1% to $3,234.70 an ounce by 1050 EST (1450 GMT). Moody's cut the US rating to "Aa1" from "AAA" on Friday, citing rising debt and interest cost "that are significantly higher than similarly rated sovereigns". "Overall, over the next few months, I think gold is a good safe bet considering the downgrade on the United States. It's still to me a buy-and-hold market," said Bob Haberkorn, Senior Market Strategist at RJO Futures. The US dollar index hit its lowest level since May 8 while Wall Street's main indexes slipped. A weaker US currency makes gold less expensive for other currency holders. Financial markets were also rattled a bit when US Treasury Secretary Scott Bessent said on Sunday that President Trump would impose tariffs at the rate he threatened on April 2 if trading partners did not negotiate in "good faith." "Gold prices remained range bound on Monday, with limited movement observed in the international market," said Adnan Agar, Director at Interactive Commodities. Speaking on the day's trend, Agar noted that the metal traded within a narrow $50 band, fluctuating between a high of $3,250 and a low of $3,206. Meanwhile, the Pakistani rupee registered a slight decline against the US dollar, depreciating 0.04% in the inter-bank market. According to the State Bank of Pakistan (SBP), the local currency closed at 281.77, down Rs0.11 from the previous session. This follows a modest gain recorded last week, when the rupee appreciated Rs0.05, or 0.02%, closing at 281.66 compared to 281.71 a week earlier.
Business Recorder
19-05-2025
- Business
- Business Recorder
Gold price per tola gains Rs4,000 in Pakistan
Gold prices in Pakistan continued to grow in line with their increase in the international market o Monday. In the local market, gold price per tola reached Rs342,500 after it accumulated Rs4,000 during the day. As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs293,638 after it increased by Rs3,429. On Saturday, gold price per tola reached Rs338,500 after it accumulated Rs2,400 during the day. The international rate of gold also jumped on Monday. The rate was at $3,241 per ounce (with a premium of $20), a gain of $40, as per APGJSA. Meanwhile, silver price per tola remained at Rs3,410.
TimesLIVE
13-05-2025
- Automotive
- TimesLIVE
Nissan to suspend operations at some domestic plants amid restructuring
Japan's Nissan Motor has decided to suspend operations at some domestic factories as part of a business restructuring effort, the Nikkei business daily reported on Tuesday. Details regarding which specific factories will be affected and whether they will be temporarily suspended or permanently closed are expected to be finalised at a later date, the report said. Nissan declined to comment on the Nikkei report. Japanese public broadcaster NHK reported on Monday the automaker will cut more than 10,000 jobs globally, bringing the number of layoffs, including those previously announced, to about 20,000, or 15% of its workforce. Japan's third-largest carmaker is set to announce on Tuesday results for the business year that ended in March. It warned last month it would likely book a record ¥700bn (R86,429,000,000) to ¥750bn (R92,590,950,000) net loss in the year due to impairment charges. Nissan, which had more than 133,000 staff as of March last year, announced plans in November to cut 9,000 jobs and reduce global capacity by 20%.
Borneo Post
21-04-2025
- Borneo Post
Sabah Customs seizes RM2.4 million worth of drugs in air cargo busts
Saidin (fourth left) showing the seized drugs at the press conference. KOTA KINABALU (April 21): The State Customs Department (JKDM) this year has seized RM2.4 million worth of drugs weighing over 70 kilogrammes in a series of raids targeting air cargo services this year. Acting JKDM Sabah assistant director-general Saidin Jalaluddin said in the first case, an enforcement team on March 28 seized four unlabelled packages at MAS Kargo here, and an inspection found 71.719 kilogrammes of suspected syabu worth around RM2.295 million. Saidin said as for the second case, an earlier raid on March 1 found a suspicious package at Pos Aviation here, and further inspection revealed the package contained 434 grammes of ketamine valued at around RM86,800. He said in the third case, an operation from 2pm until 9m in January also found four suspicious packages at Mas Kargo here, which when inspected contained 15.3 kilogrammes of ganja worth some RM47,606. 'All the three cases had attempted to use air cargo to smuggle drugs by evading the eyes of authorities, with an estimated seizure value of RM2,429,414.70. 'Hence, the public is urged to assist JKDM in combating crimes of smuggling, especially cigarettes, liquor, firecrackers, drugs vehicles and others. 'They are also advised not to get involved in such activities, as smuggling not only harms the country in terms of revenue leakage, but it also poses a threat to national security and the well-being of the people,' he told a press conference at the JKDM Sabah Zone office near Sepanggar today. Investigation on the cases are ongoing under Section 39B of the Dangerous Drugs Act 1952.
