Latest news with #Primas
The Star
02-05-2025
- Business
- The Star
Egg subsidy cut won't crack prices
End of the sunny side: A shopper buying eggs at a grocery store. The government's decision to cut subsidies for eggs from 10sen to 5sen per egg and end price controls for the item began yesterday. The subsidy will be fully discontinued on Aug 1. — ART CHEN/The Star PETALING JAYA: The removal of egg subsidies will have almost no impact on the price of omelettes, noodles and pastries, say bakers and restaurateurs, as egg prices have hit the lowest level in recent memory. 'I have never seen the price of eggs this low,' said Che Mamat Chemod, a veteran of the local restaurant group, Persatuan Sahabat Tomyam Prihatin Semalaysia. 'So the removal of subsidies will not affect us because we have never had such low egg prices, even in the pre-Covid-19 era,' said Che Mamat, the association's adviser. A tray of eggs in the food production industry is now priced as low as RM9, said Malaysia Bakery, Biscuit, Confectionery, Mee and Kuey Teow Merchants' Association president Chaang Tuck Cheong. 'Previously, a tray cost us RM16, and this caused a 10% increase in our operating costs,' he said. 'So, the 5sen seems reasonable and will not impact our members that much,' he said in response to the government's decision to cut subsidies for eggs from 10sen to 5sen per egg and end price controls for the item starting yesterday. The subsidy will be fully discontinued on Aug 1. The decision was made after considering the industry's commitment to ensuring a sufficient and stable production of eggs, following the stabilisation of production costs. However, the Malaysian Indian Restaurant Owners Association (Primas) is taking a cautious stance regarding the potential impact of the subsidy cut on egg prices, and consequently, on the cost of dishes containing eggs. Primas president Govindasamy Jayabalan said restaurants would first need to see how much their suppliers charged for ingredients. 'Eggs are a big staple and part of Malaysians' diet, especially during breakfast. We can't decide anything now because we need to see how much our suppliers will charge before they pass on their costs to us. 'We also don't want to burden the people, which is why we urge the government to continue the subsidy for another year,' he said. 'But we also understand that the government has spent billions on the subsidy. So we will do our best for the country and our customers and maintain our prices.' Malaysia imposed ceiling prices for eggs, ranging from 38sen to 42sen each, depending on their grade and quality, in response to elevated prices and a shortage caused by supply chain disruptions resulting from the Covid-19 pandemic. The government spends about RM100mil per month, or RM1.2bil a year, on the egg subsidy. Previously, subsidies and price controls for chicken were lifted in November 2023.
Yahoo
24-04-2025
- Business
- Yahoo
France to seek protection from Chinese steel imports after ArcelorMittal job cuts
PARIS (Reuters) -France and other European countries will push for measures to protect the European steel industry against Chinese imports, French government spokesperson Sophie Primas said on Thursday. Primas was responding to an announcement by steel manufacturer ArcelorMittal that it will eliminate around 600 jobs across seven French sites due to the crisis in Europe's steel industry. "We have taken some first steps, notably on the question of quotas and the introduction of Chinese steel quotas, but we must go further and France is at the forefront," Prima told broadcaster CNews/Europe1. Steelmakers across Europe have been hit by high energy prices and competition from cheap Chinese imports. They also now face larger tariffs on exports to the United States. Primas said Chinese overproduction of steel was partly to blame for the reduced competitiveness of Europe's steel industry. In a statement sent to its Works Council on Wednesday, ArcelorMittal France North said it had "implemented all possible short-term adaptation measures, but the company must now consider reorganisation measures to adapt its business to the new market context and to ensure its future competitiveness". Arcelor's move follows a similar announcement by competitor Tata Steel, which earlier this month said it would scrap around 20% of the jobs at its large plant in the Netherlands. ArcelorMittal's job cuts have prompted criticism of the steelmaker, which has benefited from French government subsidies amid a push to reindustralise portions of the country. "We have fought hard to ensure that the government and the European Union support the financing of the decarbonisation that is essential to ArcelorMittal," said Xavier Bertrand, the president of Hauts de France, a region housing several of the sites affected by the job cuts. "It is time for the group to tell us when these investments will be made," he said in a post on X. Sign in to access your portfolio
Reuters
24-04-2025
- Business
- Reuters
France to seek protection from Chinese steel imports after ArcelorMittal job cuts
PARIS, April 24 (Reuters) - France and other European countries will push for measures to protect the European steel industry against Chinese imports, French government spokesperson Sophie Primas said on Thursday. Primas was responding to an announcement by steel manufacturer ArcelorMittal ( opens new tab that it will eliminate around 600 jobs across seven French sites due to the crisis in Europe's steel industry. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. "We have taken some first steps, notably on the question of quotas and the introduction of Chinese steel quotas, but we must go further and France is at the forefront," Prima told broadcaster CNews/Europe1. Steelmakers across Europe have been hit by high energy prices and competition from cheap Chinese imports. They also now face larger tariffs on exports to the United States. Primas said Chinese overproduction of steel was partly to blame for the reduced competitiveness of Europe's steel industry. In a statement sent to its Works Council on Wednesday, ArcelorMittal France North said it had "implemented all possible short-term adaptation measures, but the company must now consider reorganisation measures to adapt its business to the new market context and to ensure its future competitiveness". Arcelor's move follows a similar announcement by competitor Tata Steel, which earlier this month said it would scrap around 20% of the jobs at its large plant in the Netherlands. ArcelorMittal's job cuts have prompted criticism of the steelmaker, which has benefited from French government subsidies amid a push to reindustralise portions of the country. "We have fought hard to ensure that the government and the European Union support the financing of the decarbonisation that is essential to ArcelorMittal," said Xavier Bertrand, the president of Hauts de France, a region housing several of the sites affected by the job cuts. "It is time for the group to tell us when these investments will be made," he said in a post on X.
CNA
24-04-2025
- Business
- CNA
France to seek protection from Chinese steel imports after ArcelorMittal job cuts
PARIS :France and other European countries will push for measures to protect the European steel industry against Chinese imports, French government spokesperson Sophie Primas said on Thursday. Primas was responding to an announcement by steel manufacturer ArcelorMittal that it will eliminate around 600 jobs across seven French sites due to the crisis in Europe's steel industry. "We have taken some first steps, notably on the question of quotas and the introduction of Chinese steel quotas, but we must go further and France is at the forefront," Prima told broadcaster CNews/Europe1. Steelmakers across Europe have been hit by high energy prices and competition from cheap Chinese imports. They also now face larger tariffs on exports to the United States. Primas said Chinese overproduction of steel was partly to blame for the reduced competitiveness of Europe's steel industry. In a statement sent to its Works Council on Wednesday, ArcelorMittal France North said it had "implemented all possible short-term adaptation measures, but the company must now consider reorganisation measures to adapt its business to the new market context and to ensure its future competitiveness". Arcelor's move follows a similar announcement by competitor Tata Steel, which earlier this month said it would scrap around 20 per cent of the jobs at its large plant in the Netherlands. ArcelorMittal's job cuts have prompted criticism of the steelmaker, which has benefited from French government subsidies amid a push to reindustralise portions of the country. "We have fought hard to ensure that the government and the European Union support the financing of the decarbonisation that is essential to ArcelorMittal," said Xavier Bertrand, the president of Hauts de France, a region housing several of the sites affected by the job cuts. "It is time for the group to tell us when these investments will be made," he said in a post on X.
Hindustan Times
24-04-2025
- Business
- Hindustan Times
France to seek protection from Chinese steel imports after ArcelorMittal job cuts
PARIS, - France and other European countries will push for measures to protect the European steel industry against Chinese imports, French government spokesperson Sophie Primas said on Thursday. Primas was responding to an announcement by steel manufacturer ArcelorMittal that it will eliminate around 600 jobs across seven French sites due to the crisis in Europe's steel industry. "We have taken some first steps, notably on the question of quotas and the introduction of Chinese steel quotas, but we must go further and France is at the forefront," Prima told broadcaster CNews/Europe1. Steelmakers across Europe have been hit by high energy prices and competition from cheap Chinese imports. They also now face larger tariffs on exports to the United States. Primas said Chinese overproduction of steel was partly to blame for the reduced competitiveness of Europe's steel industry. In a statement sent to its Works Council on Wednesday, ArcelorMittal France North said it had "implemented all possible short-term adaptation measures, but the company must now consider reorganisation measures to adapt its business to the new market context and to ensure its future competitiveness". Arcelor's move follows a similar announcement by competitor Tata Steel, which earlier this month said it would scrap around 20% of the jobs at its large plant in the Netherlands. ArcelorMittal's job cuts have prompted criticism of the steelmaker, which has benefited from French government subsidies amid a push to reindustralise portions of the country. "We have fought hard to ensure that the government and the European Union support the financing of the decarbonisation that is essential to ArcelorMittal," said Xavier Bertrand, the president of Hauts de France, a region housing several of the sites affected by the job cuts. "It is time for the group to tell us when these investments will be made," he said in a post on X.
