Business, markets and economy news from Malaysia.
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.
Oman has publicly endorsed the Iran-US memorandum of understanding, affirming that future maritime arrangements through the Strait of Hormuz will remain free from transit fees, underscoring its role in maintaining stability in a critical global shipping corridor.
Transport Minister Anthony Loke has signalled that the proposed Port Klang 3 project remains firmly on track, with construction potentially commencing later this year once outstanding land-related disputes with Selangor state authorities are finalised.