Latest news with #Rasheed
Business Times
2 days ago
- Business
- Business Times
Malaysia growth misses estimates even before Trump tariffs hit
[KUALA LUMPUR] Malaysia's growth missed official estimates in the second quarter, though the central bank said the economy is strong enough to weather the impact of US tariffs. Gross domestic product rose 4.4 per cent in the April-June period from a year earlier, slower than the 4.5 per cent advance estimate and the median forecast in a Bloomberg survey, but matching the pace of the first quarter. The economy expanded 2.1 per cent from the previous three months, Malaysia's central bank and statistics department said on Friday (Aug 15). Malaysia is bracing for trade turmoil from US President Donald Trump's rollout of global tariffs, with the central bank last month lowering its 2025 growth forecast range to 4 per cent to 4.8 per cent, from an earlier projection of a 4.5 per cent to 5.5 per cent expansion. Malaysia's Finance Ministry has separately said the economy will grow at a moderate pace in 2026 amid subdued external demand. 'Let me emphasise that our economy remains on a strong footing,' Bank Negara Malaysia governor Abdul Rasheed Ghaffour said at a briefing in Kuala Lumpur, noting a recent interest rate cut will provide 'additional lift.' Monetary policy is now 'consistent with our outlook for growth and inflation,' he said. Global growth and trade will likely moderate this year as a 19 per cent tariff on exports to the US takes effect and support from frontloading dissipates, according to the central bank. Malaysia's exports will slow the rest of 2025, while being partly cushioned by continued demand for technology products and higher tourism activity, Rasheed said. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Traders are pricing in a 20 per cent chance of a 25-basis-point rate cut within the next three months, and an almost 70 per cent probability by mid-February, according to swaps data compiled by Bloomberg before the announcement. In July, the central bank cut its overnight policy rate (OPR) for the first time in five years to help address risks to the economy. It also released more funds into the banking system to encourage lending and help boost economic activity. 'We will continue to monitor the effect of the OPR reduction to the economy,' Rasheed said. Consumer spending will remain resilient and continue to anchor growth, the central bank said. Investments will also remain strong, it added. Inflation is expected to average between 1.5 per cent and 2.3 per cent in 2025 given the 'more moderate demand and cost outlook,' Bank Negara said. It will 'continue to remain vigilant to ongoing developments and assess the balance of risks surrounding the outlook for domestic growth and inflation.' While the US levy on Malaysian imports is lower than the 25 per cent threatened in July, the South-east Asian country is seeking further clarity from the US on a threatened 100 per cent levy on semiconductor imports. On the fiscal side, the government has tweaked plans to cut subsidies on the nation's most popular fuel, while also providing cash handouts. Its latest five-year plan also outlines around US$100 billion of development spending, even as it seeks to reduce the deficit. BLOOMBERG
eNCA
2 days ago
- General
- eNCA
War-weary Ukrainians find solace by frontline lake
Raisa Ustimenko barely looked up as a fighter jet swooped overhead, roaring over the lakeshore in Sloviansk towards the agonisingly close war front in eastern Ukraine. The 67-year-old was more focused on rummaging through a pink plastic bag for the plums she brought for her summer picnic by the lake. "Take some of my plums... This one is the best -- the largest!" she told AFP as the noise from the fighter became deafening. Some beachgoers shrugged at the roar. Others shaded their eyes to watch the swerving Ukrainian Su-27 as it sped away towards the front just 20 kilometres away. The lakeside is busy on summer days with mostly elderly residents who stayed behind when half the population of Sloviansk fled the Russian advance. It is one of the pockets of relative normality even in areas near the front, where residents can seek some solace from the war and the heat. Russian troops are pushing toward Sloviansk, now within range of devastating glide bombs dropped from Russian warplanes, and drones that have left buildings across the city in ruins. In the face of uncertainty, Ustimenko said she needs to hold on to something positive. "It can be at the beach, it can be in a beautiful cup of coffee, it can be just a flower. You look at a flower and you feel happy," she said. "You forget about what's flying over the sky -- that's the most important thing. We won't be able to survive here otherwise." - 'The little moments' – Omar Salih Rasheed, programme coordinator at the International Committee of the Red Cross Mental Health Support Programme, said such scenes are common across different conflicts. "People always look for the ways to adapt, to cope with what is happening," Rasheed said. "It does not mean that everyone is fine." AFP | Genya SAVILOV Rasheed said the need for mental health support will grow after the fighting stops, and people take stock of what has happened to them. While the war continues, it is important "that communities can enjoy the little moments that they can." At the Sloviansk lakeside, Vyacheslav Shatalov, who works at a nautical-themed beach bar, said people might scatter if they hear explosions but still come back later in the day. "If they left in the morning, they'll be back by the evening to relax," said the 61-year-old, his skin weathered by a decade of summers at the resort. At his bar, decorated with a giant ship's wheel, Shatalov hands out beach mattresses as Coldplay blared from the radio. "Those who are really scared have left already, but the seasoned ones still come," he said. - 'Look and remember' - The beach features white wooden huts and a concrete shelter in case of attacks. But Mariana Rebets, 37, said she had never seen anyone using it. "If the alarm rings and we see smoke, we'll see what people do, and follow them," she said. "My husband said: if something flies over the lake, just dive," said Rebets, wearing a bright pink dress and huge sunglasses. Rebets regularly travels from relatively safer western Ukraine to spend a few days with her husband, a soldier stationed near the front. Since Russia launched its full-scale invasion in 2022, about half of the population of Sloviansk fled, leaving only 53,000 in the former industrial city. Many of those who stayed are older residents attached to their homes, while younger people moved to safer areas. AFP | Genya SAVILOV Ustimenko's family has moved away too. From the wilder side of the lake, she gazed at the water where her grandchildren once learned to swim. "Now they're not here. No one is here," she said. "We come here on our own, we look and remember, we rejoice."
Int'l Business Times
3 days ago
- General
- Int'l Business Times
War-weary Ukrainians Find Solace By Frontline Lake
Raisa Ustimenko barely looked up as a fighter jet swooped overhead, roaring over the lakeshore in Sloviansk towards the agonisingly close war front in eastern Ukraine. The 67-year-old was more focused on rummaging through a pink plastic bag for the plums she brought for her summer picnic by the lake. "Take some of my plums... This one is the best -- the largest!" she told AFP as the noise from the fighter became deafening. Some beachgoers shrugged at the roar. Others shaded their eyes to watch the swerving Ukrainian Su-27 as it sped away towards the front just 20 kilometers (13 miles) away. The lakeside is busy on summer days with mostly elderly residents who stayed behind when half the population of Sloviansk fled the Russian advance. It is one of the pockets of relative normality even in areas near the front, where residents can seek some solace from the war and the heat. Russian troops are pushing toward Sloviansk, now within range of devastating glide bombs dropped from Russian warplanes, and drones that have left buildings across the city in ruins. In the face of uncertainty, Ustimenko said she needs to hold on to something positive. "It can be at the beach, it can be in a beautiful cup of coffee, it can be just a flower. You look at a flower and you feel happy," she said. "You forget about what's flying over the sky -- that's the most important thing. We won't be able to survive here otherwise." Omar Salih Rasheed, programme coordinator at the International Committee of the Red Cross Mental Health Support Programme, said such scenes are common across different conflicts. "People always look for the ways to adapt, to cope with what is happening," Rasheed said. "It does not mean that everyone is fine." Rasheed said the need for mental health support will grow after the fighting stops, and people take stock of what has happened to them. While the war continues, it is important "that communities can enjoy the little moments that they can." At the Sloviansk lakeside, Vyacheslav Shatalov, who works at a nautical-themed beach bar, said people might scatter if they hear explosions but still come back later in the day. "If they left in the morning, they'll be back by the evening to relax," said the 61-year-old, his skin weathered by a decade of summers at the resort. At his bar, decorated with a giant ship's wheel, Shatalov hands out beach mattresses as Coldplay blared from the radio. "Those who are really scared have left already, but the seasoned ones still come," he said. The beach features white wooden huts and a concrete shelter in case of attacks. But Mariana Rebets, 37, said she had never seen anyone using it. "If the alarm rings and we see smoke, we'll see what people do, and follow them," she said. "My husband said: if something flies over the lake, just dive," said Rebets, wearing a bright pink dress and huge sunglasses. Rebets regularly travels from relatively safer western Ukraine to spend a few days with her husband, a soldier stationed near the front. Since Russia launched its full-scale invasion in 2022, about half of the population of Sloviansk fled, leaving only 53,000 in the former industrial city. Many of those who stayed are older residents attached to their homes, while younger people moved to safer areas. Ustimenko's family has moved away too. From the wilder side of the lake, she gazed at the water where her grandchildren once learned to swim. "Now they're not here. No one is here," she said. "We come here on our own, we look and remember, we rejoice." Russian troops are pushing toward Sloviansk, now within range of devastating glide bombs dropped from Russian warplanes AFP Russian forces have also stepped up drone attacks on other civilian hubs in the Donetsk region AFP
Hamilton Spectator
24-07-2025
- Business
- Hamilton Spectator
He's sent out 1,100 job applications — and still hasn't been hired. Canada's youth are facing rising unemployment rates
When Sami Rasheed started his first year at the University of Toronto's Rotman School of Management, he saw a bright future ahead. Near the top of his class in high school, Rasheed threw himself into his new adventure. He started his own club, achieved good grades, and eventually secured an internship at a large pension firm. As he neared the end of his program, however, Rasheed had some health problems, delaying his studies by a year. By the time he graduated in spring 2024, Rasheed had already applied to a handful of companies. More than a year — and hundreds of applications — later, he's still searching. 'I've been unrelentingly looking for a job since the September before my graduation,' Rasheed said in an interview. 'Since I started tracking, I've sent out about 1,100 applications. 'This job market has completely broken me.' While frustrating, Rasheed's story is common among Canadian youth right now. According to Statistics Canada , people age 15 to 24 are currently facing the highest unemployment rate outside of the pandemic since the mid-1990s. The trend is reflected in Toronto. While the city's population and economy have grown in recent years, youth unemployment continues to trend upward. Between January and July of last year, data from The Toronto Foundation shows the percentage of young people without jobs went from 13.2 per cent to 19.8 per cent. There's no one factor pushing the rates of unemployment, says Sharif Mahdy, CEO of the Students Commission of Canada. Instead, a 'perfect storm' of conditions — lingering consequences of the pandemic, ongoing economic uncertainty, and the introduction of automation in the workforce — have all made securing a job more challenging for younger generations. 'I think there's a misconception that the individual youth are lazy or just don't have drive, but the reality is that they're having to work through a lot more complex issues than previous generations,' Mahdy said in an interview. 'They're just not growing up in the same world.' Sharif Mahdy, the CEO of the Students Commission of Canada, says a 'perfect storm' of conditions have made landing a job difficult for younger generations. In April, the Students Commission of Canada opened applications for 'The Art of Work,' a program that matches young people with job placements across the country. Made possible through a recent round of just over $1 million in renewed funding, the program was only intended to fill 150 work placements. Within weeks, however, the program had received over 200 applications. It was, Mahdy said, 'a surge in demand that we haven't experienced in decades — even in the pandemic.' The students commission is hoping that the number of applications received will result in an additional round of funding, which would in turn allow it to offer more placements, he said. It's the kind of program that 15-year-old Om Patel could have used during his job hunt this summer. At the end of the most recent school year, Patel, 15, decided he needed to start gaining work experience in advance of his university applications. Since May, he said he's handed out nearly 70 resumés to entry-level jobs with no luck. 'I think we need more support in our schools — like a teacher helping with resumés in class or some kind of after-school workshop,' he told the Star. 'We hear about these kinds of programs but never actually see them.' With no other prospects, Patel decided to start his own software development company. It's only been a couple of months but already he's had more success. 'I've already built products for a few clients,' he said. 'But so many of my peers are still looking for jobs. 'Something's got to change.' For racialized youth in the GTA, the barriers to getting a job can be even higher, says Ahmad Ilmi, assistant professor of Global Development at the University of Toronto. According to the most recent data from Statistics Canada, the unemployment rate among Black youth in Canada was just over 18 per cent in January 2025. In comparison, the unemployment rate of youth who were not racialized or Indigenous was just under 11 per cent at that time. In many cases, a fierce job market has seen older generations, many with years more of work experience than their younger counterparts, filling jobs once considered entry-level. A lack of support in the community for young job seekers — like resumé workshops or interview preparation — also makes it difficult. However, the biggest barrier remains bias and racism, says Ilmi. 'It's the other thing that no one really speaks about,' Ilmi said. 'People are constantly being bombarded with images of racialized youth in relation to crime or being up to no good, where they're seen as socially or culturally different — often hyper-violent and hyper-masculine.' If an employer is inundated with applications, many from candidates with more experience, or who don't have other obligations like school, it can become easy to overlook young, racialized applicants. 'It becomes pure economics,' he said. Youth employment isn't just about a paycheque, say Mahdy and Ilmi. A job offers stability, structure and a sense of community at a critical juncture in young people's lives. 'It's the reward of being able to contribute to their own well-being — to have some income, to be able to build a future based on that starting point,' Ilmi said. 'If you can't get a job, it doesn't allow you to have the same start in life as your peers,' Mahdy added. 'There's likely going to be an inability to kind of move forward in life, some may accumulate a higher debt load or see a decline in mental health.' That's certainly the case for Rasheed. While the U of T graduate has obtained part-time work at an accounting firm, he hasn't been able to find a full-time position in the field he studied for. Over the last year, he's grown increasingly worried for his future. 'Like, even if I find a job, what if I lose it? What if I'm laid off, like so many of my peers have been? Will this happen to me again? And beyond that, it's like, can I ever really buy a home or sign a 25-year mortgage not knowing what's going to happen in my future? 'Overall, it's a very heavy feeling,' he continued. 'I don't think it's an exaggeration to say it's a bit traumatizing.' He said he might have to change his strategy. 'I have a few warm leads but if they don't pan out, I'm just going to sit at my parents' house and wait till the next military recruiting cycle.' Error! 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The Hindu
20-06-2025
- Entertainment
- The Hindu
‘Chamayappura' to demystify the art of make-up
The Kerala Sangeetha Nataka Akademi's national make-up workshop, Chamayappura, led by eminent make-up artist Pattanam Rasheed, began on Friday. Film director Kamal formally inaugurated the workshop and spoke about the often-overlooked, yet crucial, role of make-up in visual storytelling. 'Just as much as acting, make-up is instrumental in connecting the story and its characters to the audience. Unfortunately, many fail to recognise its importance,' Mr. Kamal remarked. Citing the film Celluloid, he highlighted how Mr. Rasheed's mastery of make-up brought actor Prithviraj closer to the real-life persona of J.C. Daniel, Kerala's first filmmaker. 'It wasn't just a transformation of the actor, but a complete recreation of an era and its people. That is Rasheed's genius,' he said. Akademi executive member Saheer Ali presided over the function. Akademi Secretary Karivellur Murali and Programme Officer V.K. Anilkumar also spoke. Mr. Rasheed marked the beginning of the first session by demonstrating a live transformation. In front of a captivated audience of participants, cameras, and art enthusiasts, he began applying makeup on actor Sunil Sukhada, gradually transforming him to an elderly man. 'In the world of make-up, I am still a student,' Mr. Rasheed said. He expressed his desire to make make-up artistry accessible to more people, beyond the domain of just a few experts. He added, 'This workshop is part of a larger dream, to professionalise the field and give everyone a chance to learn. As I teach others, I continue to learn new things myself. That is the beauty of this art form.' Mr. Rasheed also appreciated the Akademi's initiative in recognising the importance of makeup through such a national-level workshop. Mr. Kamal distributed workshop kits to the 30 selected participants, officially launching the hands-on training component. The Chamayappura workshop, being attended by artists from across the country, will be on till June 26.
