Latest news with #856
The Star
5 days ago
- The Star
Over RM90,000 worth of counterfeit watches, smartphones seized in Sibu raids
SIBU: Counterfeit watches and smartphones valued at more than RM90,000 have been seized in two separate raids on business premises around Sibu. The raids, at about 11am on Thursday (July 24), were carried out by 12 enforcement officers from Domestic Trade and Cost of Living Ministry's Sibu branch with the cooperation of representatives from trademark-owning companies. Sibu Domestic Trade chief Kelyn Bolhassan said the enforcement operation resulted in the seizure of counterfeit watches worth RM48,312 and smartphones and accessories of various brands estimated at RM41,856. "This operation was carried out under Section 102(1)(c) of the Trademarks Act 2019, which prohibits the possession or control of goods bearing falsely applied trademarks for the purpose of trade," he said in a statement on Friday (July 25) He added that the ministry is committed to cracking down on counterfeit products in the market to ensure consumer rights are safeguarded. "Traders are reminded to always comply with the law. We will continue to work closely with trademark owners and other agencies to protect both consumers and intellectual property rights," Kelyn said. Under the Trademarks Act 2019, individuals found guilty may be fined up to RM10,000 for each counterfeit item, imprisoned for up to three years, or both. Companies may be fined up to RM15,000 for each wrongly trademarked item. KPDN urged the public to report any suspected business misconduct through the Ez ADU mobile app, via the website, or by contacting the Sibu branch directly through phone, email, WhatsApp, or by visiting the office in person.
Borneo Post
15-07-2025
- Borneo Post
Scratch and lose: Mukah man poorer by over RM20,000 in bid to claim ‘prize' worth nearly RM1 mln
Muhamad Rizal says the victim had initially purchased two 'scratch and win' cards from a website promoted during the livestream. – AI photo MUKAH (July 15): A 43-year-old man here lost RM22,856 after falling victim to a 'scratch and win' scam conducted during a Facebook livestream believed to have been conducted from abroad. Mukah police chief DSP Muhamad Rizal Alias said the victim had initially purchased two 'scratch and win' cards from a website promoted during the livestream. 'After scratching the cards, the man was told he had won a prize worth RM956,520. However, he was instructed to pay a 20 per cent tax in order to claim the prize,' he said in a statement today. The victim went on to make four transfers totalling RM22,856 to three different bank accounts, purportedly for the tax and further card purchases. However, he became suspicious when more questionable payment requests were made, and eventually realised he had been scammed after he was no longer able to access the Facebook page. Muhammad Rizal said the case is being investigated under Section 420 of the Penal Code for cheating, and urged the public to remain vigilant when engaging in financial transactions online, especially with unfamiliar parties. 'We advise the public not to be easily swayed by lucrative offers, particularly those that require upfront payments to claim rewards. If in doubt, seek advice or lodge a report immediately,' he added. Mukah scam scratch and win
West Australian
22-05-2025
- Business
- West Australian
Bitcoin touches record high on optimism around US regulations
Bitcoin briefly hit an all-time high after the advancement of stablecoin legislation in the US stoked hopes of regulatory clarity under President Donald Trump. The largest cryptocurrency climbed as much as 2.7 per cent to a record $US109,856, before paring much of the gain while broader financial markets retreated. The previous high was set at roughly the time of Trump's inauguration on January 20. Smaller tokens such as Ether and XRP also gave back modest increases. Bitcoin and the broader crypto market have rallied in recent weeks thanks to regulatory tailwinds including the stablecoin bill advancing in the US Senate after a group of Democrats dropped their opposition Monday. The industry-backed regulatory bill is now set for debate on the Senate floor with a bipartisan group hoping to pass it as soon as this week. 'It's the shift of approach from Gary Gensler and the SEC to this Trump administration, which has embraced our industry,' Michael Novogratz, founder and chief executive of Galaxy Digital, said during a Bloomberg TV interview on Wednesday. 'That freed up the animal spirits both here and abroad.' The terms of the proposed legislation were revised to include tighter restrictions on money laundering, foreign issuers, technology companies and improved consumer protections. It would also ensure domestic and foreign issuers both face the same rules. Bitcoin was christened as a haven by some market participants during the financial markets turmoil spurred by the introduction of Trump's trade tariffs. That narrative has gained traction as of late as fractious US budget negotiations keeps a focus on the growth in deficit spending. 'We're in a really hard position in this country when you have this kind of debt. And you're seeing it with long ends of interest, yield curves selling off everywhere, the dollar is under pressure,' Mr Novogratz said. 'That is all good for Bitcoin and crypto assets as well.' Options traders have already built bullish positions on Bitcoin earlier this week with the $US110,000 calls, $US120,000 and $US300,000 expiring on June 27 seeing the most open interest, or the number of outstanding contracts on Deribit. Demand for short-dated calls that are expiring before late June with the strike prices above $US110,000 has surged in the past 24 hours, according to Amberdata. Liquidations in both bullish and bearish bets on crypto assets remain moderate amid the breakout with about $US200 million in the past 24 hours, according to data compiled by Coinglass. Open interest — or outstanding contracts — for Bitcoin futures hosted by Chicago-based CME Group has seen a 23 per cent recovery from a year-to-date low in April, while investors have poured about $US3.6 billion into a group of a dozen US Bitcoin exchange-traded funds so far in May. Bitcoin has risen about 14 per cent so far this year, outperforming other risk assets such as US stocks. The Nasdaq 100 index is down around 2 per cent since December. Helping to drive the outperformance has been surging demand from Michael Saylor's Strategy and other companies seeking to emulate its Bitcoin buying strategy. The former software maker, until recently called MicroStrategy, has stockpiled over $US50b worth of the token. Bitcoin miners, a flurry of obscure small-cap companies and public firms newly formed by crypto heavyweights are offering anything from convertible bonds to preferred stocks, giving different flavours of Bitcoin exposure to investors. An affiliate of Cantor Fitzgerald is working with stablecoin issuer Tether Holdings and SoftBank Group to launch Twenty One Capital, a company that emulates Strategy's business model. A subsidiary of Strive Enterprises co-founded by Vivek Ramaswamy is merging with Nasdaq-listed Asset Entities to form a Bitcoin treasury company. The jump to a fresh record high comes as Trump prepares to meet with the biggest holders of his memecoin at a dinner at his golf club just outside Washington on Thursday. The event has raised concerns among ethics experts, who argue that it offers access through transactions that directly benefit the president, and has sparked criticism over the potential conflict of interest. Bloomberg
Express Tribune
27-01-2025
- Business
- Express Tribune
Gold prices, rupee value depreciate
KARACHI: The rupee experienced a minor decline against the US dollar, depreciating by 0.03% in the interbank market on Monday. By the close of trading, the rupee settled at 278.83, reflecting a loss of 8 paisa compared to the previous trading day. Over the past week, the rupee remained relatively stable, closing at 278.75, a slight drop from 278.71, according to the State Bank of Pakistan (SBP). Market experts attribute the rupee's depreciation to three key factors: rising imports of around $5 billion per month, the SBP's dollar purchases to absorb surplus supply, and foreign loan repayments by the central bank. Internationally, the US dollar strengthened on Monday as traders evaluated the implications of US President Donald Trump's tariff policies. Although the dollar recorded its weakest performance since November 2023 last week due to diminished tariff concerns, fears resurfaced after Trump announced sweeping measures against Colombia. The tariffs and sanctions came in response to Colombia's refusal to permit US military aircraft carrying deported migrants to land, reigniting market uncertainty as the Federal Reserve is expected to keep interest rates steady. Meanwhile, gold prices in Pakistan continued their decline on Monday, in line with global market trends. The price of gold per tola dropped by Rs300 to Rs289,100, while the price for 10 grams fell by Rs257 to Rs247,856, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This follows a Rs200 decrease over the weekend. Globally, gold prices dropped by $3 to $2,767 per ounce on Monday, down from Friday's high of $2,785. Market analyst Adnan Agar, Director at Interactive Commodities, predicts gold will trade between $2,730 and $2,750 in the near term. Prices falling below this range could trigger a significant downward trend. However, stabilisation is more likely, with upcoming US monetary policy decisions expected to further influence gold prices.
