Latest news with #Must
Sinar Daily
17 hours ago
- Business
- Sinar Daily
Strait of Hormuz closure threatens Malaysia's food supply, economist forecasts price hikes
SHAH ALAM – A sharp increase in the prices of imported food is expected to be among the most significant direct consequences Malaysia may face if a full-scale war erupts following the United States' involvement in the Iran-Israel conflict. Malaysia University of Science and Technology (Must) economist, Professor Emeritus Dr Barjoyai Bardai, stated that the conflict, which has entered a new phase, could lead to the closure of the Strait of Hormuz, a critical trade route for the country. According to him, imported foods such as fruits and vegetables are among the goods likely to experience a significant price surge if tensions in the region worsen. 'Malaysia, as an open economy that imports more than RM90 billion worth of food, will certainly be affected by this conflict. "It can be said that the food sector will be one of the hardest hit," he said. He stated that the upcoming expansion of the Sales and Service Tax (SST) on July 1, which includes imported fruits and vegetables, could worsen the impact. 'So, the impact will be even greater. Prices of imported goods will rise, then domestic taxes in Malaysia will also increase and inevitably this situation will have a major impact on food items. 'Given the increasingly volatile developments, we can expect the prices of imported food-based items such as vegetables and fruits to go up. "We also anticipate a knock-on effect on cooked food, and prices at restaurants are also expected to rise,' he told Sinar. Dr Barjoyai added that all parties must prepare to face widespread impacts due to the conflict, as it would affect not only imported goods but also locally produced products.
Time of India
16-05-2025
- Business
- Time of India
What is J. Edgar Hoover Building in Washington, DC famous for? Here's why it is in news after FBI Director Kash Patel's statement
The FBI will relocate 1,500 employees from the J. Edgar Hoover Building in Washington, DC. The decision comes amid safety concerns. The agency also wants to expand its presence across the country. Headquarters Announcement FBI Director Kash Patel announced the decision during an interview with Fox Business Network. He said the current building is no longer safe for employees. The Hoover Building has shown signs of damage. Nets have been placed on the structure to catch falling concrete. Patel explained that the agency aims to provide a secure and professional environment for workers. He stated that the current building does not meet this standard. He did not reveal specific safety issues or hazards but confirmed the move is necessary. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Live Comfortably: 60 m² Prefab Bungalow for Seniors in Casablanca Pre Fabricated Homes | Search Ads Search Now Also Read: The Brutalist: Oscar-winning film's streaming release date, where to watch, star cast and storyline Staff To Be Spread Across Country Patel shared that the FBI has around 38,000 staff members. Of those, nearly 11,000 work within 50 miles of Washington, DC. He said this concentration does not reflect where most crime occurs. Live Events To address this imbalance, 1,500 employees will move to different states. Patel said every state will get additional staff. The move is meant to encourage more people to join the FBI and help reduce crime in various regions. Where Will Be New Headquarters? The director did not mention where the new main headquarters will be. He also did not provide a timeline for the relocation. However, he said the transition will take place over the next few months. The J. Edgar Hoover Building has been the FBI's headquarters since 1975. It stands between the White House and the Capitol. The building has often drawn criticism for its appearance. Also Read: Conan O'Brien Must Go Season 2: Where is Conan O'Brien going this week? Here's what we know about Episode 2, release schedule and Season 3 What Trump said about Hoover Building President Donald Trump often criticized the Hoover Building. In 2013, before his presidency, he considered developing the site for private use. During his term, he called the building unattractive and suggested a new structure should be built nearby. Trump later said that keeping the FBI and Department of Justice close together would be ideal. In March, he suggested a new headquarters could be built at the same location. FAQs Why is the FBI leaving the Hoover Building? The FBI is leaving due to safety issues and to provide a better working environment for employees across the country. Where are the FBI employees moving to? The FBI has not named specific locations. Employees will be sent to various states to improve regional crime-fighting efforts.
