Business, markets and economy news from Malaysia.
Malaysia's Economy Minister has urged businesses and the public to prepare for economic pressures stemming from Iran's closure of the Strait of Hormuz, warning that geopolitical instability threatens supply chains and inflation.
A US legal technology company is suing the Trump administration over a June 12 Commerce Department order that forced AI firm Anthropic to block foreign users from accessing its most advanced models, disrupting operations for international teams.
Malaysia's diesel subsidy reduction to RM2.10 per litre from July should ease transportation and logistics costs, with economists anticipating lower consumer prices for goods dependent on road transport.
Malaysia's Human Resources Ministry will offer Technical and Vocational Education and Training programmes to workers displaced by the global supply chain crisis, with employment assistance through PERKESO's MYFutureJobs platform.
Tata Electronics has confirmed a cybersecurity incident after a ransomware group posted over 200,000 files allegedly containing Apple and Tesla trade secrets on the dark web, complicating India's push to become a global electronics hub.
The United States is wrapping up a labour practices investigation targeting Malaysia. If Washington confirms violations, the country could face a 10 per cent tariff starting after July 24, threatening significant trade disruptions.
Malaysia's Ministry of Domestic Trade and Cost of Living has pledged adequate stocks of essential goods in Johor and Negeri Sembilan ahead of upcoming state elections, implementing new distribution systems and verification measures to prevent shortages.
Singapore shipping magnate Teo Siong Seng and other container industry executives face civil lawsuits in California for allegedly orchestrating a global price-fixing cartel that artificially inflated shipping container costs between 2019 and 2021.