Business, markets and economy news from Malaysia.
President Trump has initiated an investigation into major oil producers over persistently high petrol prices in the United States, amid mounting criticism over Middle Eastern conflict implications.
Malaysia's government will keep the BUDI95 petrol subsidy quota at 200 litres monthly while monitoring the US-Iran ceasefire and its effects on global oil prices before deciding whether to restore the previous 300-litre allowance.
Asian stock markets fell Monday as Middle East tensions and hawkish Federal Reserve signals pushed oil prices and bond yields higher, increasing bets on earlier US interest rate increases.
A potential peace agreement between the United States and Iran could help stabilise global oil prices and reopen shipping routes, though Malaysia's Finance Ministry warns that a full recovery will require several months to account for elevated logistics costs incurred during the crisis.