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Borneo Post
10 hours ago
- Business
- Borneo Post
SST expansion underscores urgent need for S'wak to boost local food production, says Dr Rundi
Dr Rundi (third left) presents the certificate to retired DoA agriculture officer Gilbert Igi on stage, witnessed by Dr Abdul Rahman (second left), Martin (third right) and Dominic. KUCHING (June 18): The upcoming expansion of the Sales and Service Tax (SST) on imported food should prompt greater urgency in boosting Sarawak's local food production and achieving food self-sufficiency, said State Food Industry, Commodity, and Regional Development Minister, Dato Sri Dr Stephen Rundi Utom. Rather than focusing solely on taxation measures, he stressed the importance of long-term planning and innovation to strengthen the state's food security amid rising global uncertainties, including conflicts, climate change, and disruptions in global supply chains. 'These are the things that we have to think outside the box about. SST is one aspect, but our real focus must be on how to increase our local food sector,' he told reporters when met after officiating the Department of Agriculture (DoA) Sarawak Appreciation Ceremony here today. He noted that Sarawak currently faces a growing food import-export deficit, which rose from RM5.6 billion in 2022 to RM7.6 billion in 2023. 'So that means we have to be prepared, and we have to produce using our raw materials to create animal feed and plant the various crops. 'Our ancestors had to survive on sago and tapioca during World War II and we do not want to return to that kind of survival mode,' he said. Highlighting rice as a key concern, Dr Rundi pointed out that Malaysia's self-sufficiency level (SSL) for rice stands at only 32 per cent. 'Can you imagine, 68 per cent of our rice has to come from countries like Vietnam and India? If these major exporters stop exporting, we will be in deep trouble. 'That is why we are so serious about planting paddy,' he said. The minister revealed that Sarawak has a master plan in place to raise food production, including initiatives to develop hybrid rice varieties capable of producing up to 15 metric tonnes per hectare. Land identification and gazettement for food crop cultivation are also being undertaken with the help of the Land and Survey Department, with areas in Limbang and Lawas already gazetted for paddy, he said. On the role of farmers, Dr Rundi said it is crucial to shift from the traditional view of subsistence farming towards a business-oriented approach. 'We no longer talk about SSL in isolation. We talk about business – profit and loss. 'That is why we created the e-Tani platform, to ensure assistance is targeted according to the farmer's main activity,' he said. Using a rural anecdote, Dr Rundi recalled witnessing how residents at a longhouse were once given fingerlings for fish farming but unfortunately did not have the knowledge to manage them. 'All 30 doors of the longhouse were given the fingerlings, but they did not know what to do with them. That's a waste. 'So, we must move away from blanket assistance. The farmers must give us the feedback and tell us what they need, not what we think they need. Then they can see the impact,' he stressed. Earlier, Dr Rundi presented certificates to Excellence Service Award (APC) recipients as well as Certificates of Recognition to some retirees from DoA Sarawak. A total of 151 officers and staff from the department received APC awards, while retirees were celebrated for their service. Also present were State Deputy Food Industry, Commodity, and Regional Development Ministers Datuk Dr Abdul Rahman Ismail and Datuk Martin Ben, and DoA Sarawak director Dominic Chunggat. dr stephen rundi lead local food production SST expansion
Economic Times
23-04-2025
- Business
- Economic Times
Bullion Breakout? Analysts weigh in on gold investment strategy ahead
While the Great Equity Run may have helped investors discover a quicker way to creating wealth than savings, the bond endures. We bring an investor's perspective on what you could do ahead. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The yellow metal's surge never seems to deter its fans. It only adds to the allure. While the Great Equity Run may have helped investors discover a quicker way to creating wealth than savings, the bond endures. We bring an investor's perspective on what you could do Investment Officer, Quantum Asset ManagementWe have seen a big run-up in prices, but this has been structural not speculative. That said, no asset moves up in a straight line. Investors should increase their gold allocation over the next 6-12 months. Those who have already allocated enough to gold should stay VP-Research, Non-Agri Commodities and Currencies, Angel OneGold is at such a high price now that it is in unchartered territory. So there is a big possibility of a price correction of at least 10% from the current levels. When that will happen, that's hard to say. Gold prices in the past few sessions have seen a gap-up. Many investors lost the opportunity to buy between Rs 85,000–Rs 1 lakh. Prices went up by nearly 30% between January and April, and might gain another Rs 5,000 from here, but a correction is due. If you have a time horizon of five years, then stagger your buyingDirector - Commodity, Currency and GIFT City, Anand RathiIt's very difficult to predict how much more gold will move up from these levels. However, the bullish trend still continues. If the Tariff war intensifies between the US and China—which is the likelihood—then that is good news for gold prices. There could be some profit booking at these levels— especially from speculative counters—so that might pull price down. But overall, the trend is bullish. You should stagger your investments in gold. Do not see gold from a return perspective. Look at it more as a portfolio diversifier. In times of adversity, gold allocation cushions your portfolioCEO, Investment and Strategy, Kotak Alternate Asset ManagersGold prices have run up too fast, too soon. There could be a small pause and correction at these levels. However, there is merit in doing investments if you are under-diversified in gold. Buying the dips is a more appropriate strategy. Will we see a lot of profit booking now? Only from speculative counters who had bought it for trading. If you have a long-term horizon, it doesn't make sense to sell your gold now. But I will still caution people from investing in gold just on the basis of past return
Time of India
23-04-2025
- Business
- Time of India
Bullion Breakout? Analysts weigh in on gold investment strategy ahead
Live Events Agencies (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The yellow metal's surge never seems to deter its fans. It only adds to the allure. While the Great Equity Run may have helped investors discover a quicker way to creating wealth than savings, the bond endures. We bring an investor's perspective on what you could do Investment Officer, Quantum Asset ManagementWe have seen a big run-up in prices, but this has been structural not speculative. That said, no asset moves up in a straight line. Investors should increase their gold allocation over the next 6-12 months. Those who have already allocated enough to gold should stay VP-Research, Non-Agri Commodities and Currencies, Angel OneGold is at such a high price now that it is in unchartered territory. So there is a big possibility of a price correction of at least 10% from the current levels. When that will happen, that's hard to say. Gold prices in the past few sessions have seen a gap-up. Many investors lost the opportunity to buy between Rs 85,000–Rs 1 lakh. Prices went up by nearly 30% between January and April, and might gain another Rs 5,000 from here, but a correction is due. If you have a time horizon of five years, then stagger your buyingDirector - Commodity, Currency and GIFT City, Anand RathiIt's very difficult to predict how much more gold will move up from these levels. However, the bullish trend still continues. If the Tariff war intensifies between the US and China—which is the likelihood—then that is good news for gold prices. There could be some profit booking at these levels— especially from speculative counters—so that might pull price down. But overall, the trend is bullish. You should stagger your investments in gold. Do not see gold from a return perspective. Look at it more as a portfolio diversifier. In times of adversity, gold allocation cushions your portfolioCEO, Investment and Strategy, Kotak Alternate Asset ManagersGold prices have run up too fast, too soon. There could be a small pause and correction at these levels. However, there is merit in doing investments if you are under-diversified in gold. Buying the dips is a more appropriate strategy. Will we see a lot of profit booking now? Only from speculative counters who had bought it for trading. If you have a long-term horizon, it doesn't make sense to sell your gold now. But I will still caution people from investing in gold just on the basis of past return
Yahoo
06-03-2025
- Business
- Yahoo
4 States You Should Think Twice About Relocating to If Kamala Harris Wins
When planning a move to a new state, it's important to consider everything from the local tax rates to the state's laws. But the upcoming presidential election has the potential to significantly impact life in certain states. Check Out: Read Next: If Kamala Harris wins the presidency, you might want to change your moving plans. Based on the political policies that Harris is campaigning on, these states might see significant changes and could encounter difficult transitions if Harris takes office. Delaware is heavily dependent on fossil fuels. According to Commodity, as of 2022, Denver derived 96.4% of its energy from fossil fuels, and just 3.6% of its energy from renewable energy sources. Harris has stated that she will lower energy costs and create clean energy jobs. This shift away from fossil fuels and the increased focus on clean energy could spell economic trouble for states like Delaware, where energy-related revenues help fund schools, roads, and more. In fact, a study by Resources for the Future found that wind and solar energy make up just 2% of energy-related revenues in states like Delaware. A drop in fossil fuel prices could leave people without jobs and states with less funding. Learn More: For You: Florida has not adopted the Medicaid expansion, per KFF. Additionally, the state has implemented a six-week abortion ban, as CBS News reported. Harris stated that she will not allow a national abortion ban to become law, and that she will sign a bill to restore reproductive freedom nationwide. Additionally, she stated that she will protect Social Security and Medicare by taxing billionaires. She's also been outspoken about affordable health insurance and healthcare access, including highlighting that the Affordable Care Act helped people secure coverage during the Sept. 10 debate. Trending Now: Like Florida, Texas has not adopted the Medicaid expansion. Abortion is also completely banned in Texas, according to Planned Parenthood. If Harris becomes president, Texas will see many of the healthcare shifts and potential abortion law shifts that Florida would experience. Additionally, Texas is highly dependent on fossil fuels. According to Commodity, 89.9% of Texas energy is derived from fossil fuels, while 7.1% of energy comes from renewable energy sources. If Harris fulfills her promises to lower energy costs and reduce the country's dependence on fossil fuels, Texas could see a significant impact to its economy — and there might be a major shift in energy industry job availability. Texas is also a low-tax, low-regulation state. Harris has stated that she will cut taxes for middle class families and that no one earning less than $400,000 per year will pay more in taxes. She also proposed rolling back Trump's tax cuts and implementing a billionaire minimum tax, which could impact wealthy Texas residents. Alabama is a low-regulation state, particularly when it comes to labor law. Per the New Jersey Monitor, Alabama has implemented weaker child labor protections that make it easier for children ages 14 to 17 to work longer and later hours. Additionally, Oxfam's 2024 Best and Worst States to Work in the US report ranked Alabama as the overall 49th worst state to work. While the state is friendly to businesses, worker protections fall short. Harris stated that she will work to support workers and small businesses. She has pledged to strengthen unions to protect workers, according to The Guardian, and give them the ability to collectively bargain. Such actions could bring about significant changes to Alabama's businesses. Harris has also stated that she will follow through on the promise she and President Joe Biden made to sign the Protecting the Right to Organize (PRO) Act into law, as Forbes detailed. If the PRO Act becomes law, it would implement a nationwide ABC test to determine whether a worker is an employee or an independent contractor. The ABC test makes it much more difficult for workers to qualify as independent contractors, even if they chose self-employment. When the ABC test was implemented in California on July 1, 2020, numerous groups of workers filed lawsuits against the state. Instead of hiring former freelancers as independent contractors, businesses ceased working with these individuals and jobs dried up. If Harris signs the PRO Act into law, it could have a significant impact on states like Alabama, but it could also affect independent contractors living in any state. Editor's note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRatesHow Paychecks Would Look in Each State If Trump Dropped Federal Income Tax10 Genius Things Warren Buffett Says To Do With Your Money This article originally appeared on 4 States You Should Think Twice About Relocating to If Kamala Harris Wins
