Business, markets and economy news from Malaysia.
Malaysian authorities have seized more than 75,000 cryptocurrency mining machines during over 3,000 raids nationwide since 2022, resulting in 629 arrests. The Home Ministry is intensifying enforcement efforts to combat illegal mining operations.
The 12-nation CPTPP has endorsed a US-Iran agreement aimed at reopening the Strait of Hormuz and ensuring safe passage, responding to concerns about disruptions to energy trade and global supply chains.
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Prime Minister Anwar Ibrahim's recent diplomatic missions to Russia and Turkmenistan have resulted in major energy agreements, including long-term crude oil and gas supply commitments from Russia and expanded operations for PETRONAS in Turkmenistan's hydrocarbon sector.
Petronas is leveraging its established presence in Turkmenistan to strengthen Malaysia-Turkmenistan relations following Prime Minister Datuk Seri Anwar Ibrahim's recent diplomatic visit to the Central Asian nation.
Malaysia's fuel supplies will remain stable and adequate until August, according to government assurances based on Petronas data. The oil giant supplies roughly half the nation's domestic fuel requirements through its subsidiary, with a dedicated crisis management team now overseeing energy security.
Prime Minister Datuk Seri Anwar Ibrahim concluded a successful regional tour securing oil and gas agreements with Russia and Turkmenistan, marking a strategic pivot in Malaysia's energy procurement strategy.
Prime Minister Anwar Ibrahim's official visits to Russia and Turkmenistan have yielded strategic gains for Malaysia, including a 20-year Russian oil supply commitment and Petronas securing operations of a major Turkmenistan gas field.
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Diplomatic mediators Qatar and Pakistan have announced significant progress in ongoing US-Iran talks held at the Lake Lucerne Summit in Switzerland, with new committees and communication channels established to facilitate negotiations.
The United States and Iran have launched formal peace negotiations at a Swiss mountain resort, with Vice President JD Vance leading American efforts. The talks aim to solidify a ceasefire agreement signed earlier in the week, though disputes over the Strait of Hormuz and ongoing Lebanon operations threaten to derail progress.
Senior US officials including Vice President JD Vance have begun talks with Pakistan's Prime Minister Shehbaz Sharif and Army Chief Field Marshal Asim Munir in Switzerland, as broader negotiations on Iran's nuclear programme accelerate.
Prime Minister Anwar Ibrahim has secured an assurance from Russian President Vladimir Putin regarding long-term energy supplies, signalling Malaysia's deepening strategic energy partnerships with major global producers.
Prime Minister Datuk Seri Anwar Ibrahim's diplomatic visits to Russia and Turkmenistan have yielded significant gains for Malaysia's energy security and oil-gas cooperation, according to BRICS International Malaysia.
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Prime Minister Anwar Ibrahim's recent visits to Russia and Turkmenistan have yielded significant energy agreements, including fresh gas supply arrangements and collaborative ventures between Petronas and Turkmen counterparts.
President Trump has announced a 60-day moratorium on maritime fees in the Strait of Hormuz but threatened to impose US tolls thereafter, warning Iran that Washington may charge for security services unless a final deal is reached.
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Prime Minister Anwar Ibrahim has linked Malaysia's newly secured position in Turkmenistan's major gas fields to the country's balanced foreign policy approach, positioning non-alignment as a diplomatic and economic asset.
A Liberian-flagged crude oil tanker operated by Japan's Kyoei Tanker has safely transited the Strait of Hormuz, marking the evacuation of all Japanese-crewed vessels from the Persian Gulf region. Tokyo says 37 Japan-linked ships remain stalled.
Prime Minister Anwar Ibrahim has secured strategic energy partnerships with Russia and Turkmenistan, guaranteeing Malaysia's oil, gas and diesel supplies for at least 20 years while opening access to world-class gas reserves.
Oil prices edged higher Friday as doubts emerged over a US-Iran peace agreement following cancelled Switzerland talks and intensified Israeli military action in Lebanon, adding fresh volatility to energy markets.
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Prime Minister Anwar Ibrahim has secured a commitment from Russia to provide Malaysia with consistent long-term supplies of petroleum products, crude oil, and natural gas, addressing regional energy security concerns.
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Prime Minister Anwar Ibrahim has called for expanded cooperation between Asean and Russia in trade, artificial intelligence, and energy, signalling Malaysia's commitment to maintaining balanced regional partnerships amid geopolitical tensions.
Prime Minister Anwar Ibrahim's Kazan visit resulted in Russia's commitment to provide Malaysia with long-term oil and gas supplies, moving beyond short-term annual contracts. The agreement strengthens bilateral ties across energy, trade, and investment.
An interim ceasefire between the United States and Iran has taken effect, allowing oil shipments to resume through the Strait of Hormuz. However, negotiations over Iran's nuclear programme and ongoing Israeli operations in Lebanon cast doubt on the agreement's durability.
Prime Minister Anwar Ibrahim has urged ASEAN and the Shanghai Cooperation Organisation to combine efforts in tackling cross-border crime and advancing energy cooperation, citing the existing 2005 framework as a foundation for deeper collaboration.
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Iran and the United States have formally finalised a 14-point memorandum of understanding aimed at ending their conflict, following signatures from both countries' presidents. The agreement prioritises nuclear negotiations and sanctions relief over a 60-day period.
Prime Minister Anwar Ibrahim held talks with Russian President Vladimir Putin in Kazan, focusing on deepening energy cooperation and increasing bilateral trade through local currency arrangements amid geopolitical shifts.
Philippine President Ferdinand Marcos Jr has travelled to Kazan, Russia, to lead his country's participation in the Asean-Russia Commemorative Summit and hold bilateral discussions with President Vladimir Putin centring on energy and food security.
Prime Minister Anwar Ibrahim has signalled Malaysia's ambition to dramatically expand cooperation between ASEAN and Russia, spanning energy, technology, and cultural exchange, while expressing frustration over international inaction on Gaza.
Thailand's Prime Minister Anutin Charnvirakul has welcomed reports of a ceasefire agreement between the United States and Iran, saying any breakthrough in West Asia would benefit the global economy and help stabilise energy prices.
Prime Minister Anwar Ibrahim has welcomed a landmark understanding between the United States and Iran to end hostilities, stressing the urgency of reopening the Strait of Hormuz for international commerce and global energy stability.
Prime Minister Anwar Ibrahim met Uzbekistan President Shavkat Mirziyoyev during a transit stop in Tashkent, outlining potential cooperation in energy, trade, education, halal industries and tourism to strengthen bilateral relations.
Prime Minister Anwar Ibrahim is travelling to Russia to meet President Vladimir Putin, prioritising negotiations on energy security and ensuring stable oil supplies to Malaysia amid regional disruptions.