Latest news with #580
BusinessToday
23-05-2025
- Business
- BusinessToday
Malaysia's Labour Market Remains Resilient, Q1 Data Review
Malaysia's labour market demonstrated continued strength in the first quarter of 2025, according to a recent review by the Department of Statistics. The nation recorded a substantial labour force of 17.23 million individuals, maintaining a stable unemployment rate of 3.1 per cent. The report highlighted a significant year-on-year expansion of the labour force, growing by 2.7 per cent to reach the aforementioned 17.23 million. This growth propelled the labour force participation rate upwards by 0.2 percentage points to 70.7 per cent. The number of employed persons also saw a positive trend, increasing by 3.0 per cent to 16.70 million. Consequently, the employment-to-population ratio rose to 68.6 per cent. In parallel, the number of unemployed individuals experienced a decline of 5.0 per cent, translating to 27.5 thousand fewer people without jobs, resulting in the steady unemployment rate of 3.1 per cent. A notable trend was the continued decrease in the number of employed persons working less than 30 hours per week, which fell by 11.1 per cent compared to Q1 2024, reaching 242.7 thousand individuals. This decline was attributed to strong domestic demand throughout the first quarter of 2025, leading to a drop in the rate of time-related underemployment to 0.9 per cent. Furthermore, skill-related underemployment, which disproportionately affects tertiary-educated individuals, also saw a positive development. It decreased by 0.7 percentage points to 35.7 per cent in Q1 2025, although it still constitutes a significant portion of the employed population with higher education. On the demand side, the economic sector witnessed a 1.4 per cent year-on-year increase in the total number of jobs, reaching 9.06 million. Filled jobs, representing 97.9 per cent of the total, also grew by 1.4 per cent to 8.87 million. Job openings, indicated by the number of vacancies, rose by 1.2 per cent to 194.1 thousand during the quarter. Additionally, the number of jobs created in the economic sector saw a substantial increase of 3.4 per cent year-on-year, reaching 33.2 thousand. The report also linked the robust labour market performance to Malaysia's overall economic expansion of 4.4 per cent. Labour productivity, measured by value added per employment, registered an increase of 1.3 per cent, reaching RM24,580 per person in Q1 2025. Total hours worked also surged by 3.3 per cent to 9.76 billion hours, resulting in a 1.0 per cent growth in labour productivity per hour worked, bringing the level to RM42.5 per hour. The Department of Statistics concluded that Malaysia's labour market remains resilient, supported by stable domestic activity and consistent government policies. Growth in key sectors such as manufacturing and services, coupled with strong domestic demand and government initiatives like investment incentives and infrastructure development, have fostered a favourable economic environment. These factors are expected to continue supporting employment creation, particularly in high-skilled sectors, and contribute to improved household incomes.
Hypebeast
22-05-2025
- Automotive
- Hypebeast
Mercedes-Benz Gifts Custom Electric G-Class to 'League of Legends' Star Uzi
Summary Mercedes-Benzhas honored Chinese esports legend Jian 'Uzi' Zìháo with a one-of-a-kind electricG-Classto celebrate his induction into theLeague of LegendsHall of Legends. As the second-ever inductee, following Korean superstar Faker, Uzi was recognized for his extraordinary career and influence on the global gaming community. Built on the newG 580 with EQ Technologyplatform, Uzi's vehicle was handcrafted through Mercedes' exclusive MANUFAKTUR program. It features a distinctive Kalahari gold magno finish, engraved 'Hall of Legends' interior details and bespoke elements reflecting Uzi's legacy. It is also the first electric G-Class of its kind in China. In addition to the car, Mercedes-Benz collaborated with a design studio to create a custom artwork showing Uzi in his hometown of Shanghai alongside his new G-Class, complete with Easter eggs from his career. This collaboration is part of Mercedes-Benz's ongoing partnership withRiot Games, which includes support for major tournaments like Worlds and MSI, as well as the newly launched Hall of Legends initiative.
Daily Express
11-05-2025
- Daily Express
RM518,580 cosmetics, medicines seized: GOF
Published on: Sunday, May 11, 2025 Published on: Sun, May 11, 2025 By: Azmie Lim Text Size: Some of the boxes containing beauty products and medicines. SEMPORNA: The General Operation Force (GOF) Kunak seized 183 boxes of various cosmetic products and medicines worth RM518,580 from a house at Taman Hatib, here, on Friday. The operation which carried out under the Ops Bersepadu Intra/Inter Agency and Op Taring Dosej was accompanied by the Traffic Investigation and Enforcement Department of Semporna Police Headquarters and Royal Malaysia Custom Department. Sabah GOF Commander, Datuk Abdul Rani Alias said acting on intelligence, the team tailed a vehicle to the location where the cosmetics and medicine were kept. 'During the 12pm raid, the team detained an 18-years-old suspect and discovered 183 boxes containing beauty products and medicine without taxes and approval from the Malaysian Health Ministry (KKM). According to Abdul Rani, result of investigation found that the suspect who was the storekeeper involved in the supply and sale of the products since August 2024. He said, the products were believed obtained from the neighboring country to be sell in Sabah. 'The suspect and the seizures were handed over to the Semporna Custom Department for further investigation under the Custom Act 1967 and Control of Drugs and Cosmetics Regulations 1984,' he added. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
TimesLIVE
09-05-2025
- Automotive
- TimesLIVE
Nissan abandons plan for $1.1bn EV battery plant in southern Japan
Nissan Motor said on Friday it would abandon a plan to build a $1.1bn (R20,069,224,230) factory for electric vehicle batteries on Japan's southwestern island of Kyushu, marking the latest change of plans for the troubled carmaker. Japan's third-biggest carmaker had announced in January the plan for a lithium iron phosphate (LFP) battery plant in the city of Kitakyushu that was set to create about 500 jobs with an investment of ¥153.3bn (R19,153,837,500). "Nissan is taking immediate turnaround actions and exploring all options to recover its performance," the company said about the decision, indicating a willingness at Nissan to scale back its domestic market ambitions. "After careful consideration of the investment efficiency, we have decided to cancel the construction of a new LFP battery plant in Kitakyushu City, Fukuoka Prefecture." The Japanese government had earmarked a subsidy of up to ¥55.7bn (R6,983,632,580) for the project. The plant was supposed to start supply in July 2028 or later and have an annual production capacity of 5GWh, materials posted on Japan's industry ministry's website showed. New CEO Ivan Espinosa, who took over from Makoto Uchida last month, is restructuring Nissan's operations. The company is shedding employees, reducing production capacity and closing plants. Nissan said last month it expects a record net loss of ¥700bn (R12,764,640,000,000) to ¥750bn (R94,042,200,000) for the financial year that ended in March due to impairment charges. The company is set to provide its outlook for the financial year and update on its recovery actions when it announces full-year financial results on Tuesday.
TimesLIVE
29-04-2025
- Automotive
- TimesLIVE
Volvo to cut costs by $1.9bn as earnings drop
Sweden-based Volvo Cars launched cost cuts of 18-billion Swedish crowns ($1.87bn or R34,701,964,000) on Tuesday as its operating profit fell heavily amid difficult market conditions for the automotive industry. Operating profit at the company, majority-owned by China's Geely, was 1.9bn Swedish crowns (R3,661,982,100) for the January-March period against a year earlier 4.7bn crowns (R9,060,580,100). The cost cuts, part of a new "cost and cash action plan", will include layoffs and a larger decrease in investment than earlier expected, the company said, adding it had withdrawn its financial guidance for the next two years. The company's share price fell to record low levels in recent months as it grappled with mounting tariff pressures, the continued slowdown in electric vehicle demand and global uncertainty. In a first sign Volvo was taking steps to address the situation, the carmaker made an unexpected management shake-up this month by axing CEO Jim Rowan and bringing back former CEO Hakan Samuelsson, and weeks later also replacing its CFO. "Given the turbulence in the market, we need to further improve our cash flow generation and lower our costs," Samuelsson said on Tuesday. "While we l have a lot to do, our direction going forward is focused on three areas: profitability, electrification and regionalisation," he said.
