In its annual global economic and market outlook, Vanguard outlines its expectations for growth, inflation, monetary policy, and more.
Read More
https://investornews.vanguard/vanguard-economic-and-market-outlook-for-2019-down-but-not-out/
Views: 0
See how to focus on growth while maintaining a well-diversified portfolio and avoiding excessive volatility in this webcast excerpt.
Read More
https://investornews.vanguard/how-should-you-think-about-risk/
Views: 0
GEORGE TOWN: The Penang government will allocate up to RM75 million under an initiative to rejuvenate the economy that has been ravaged by the Covid-19 pandemic.
Chief Minister Chow Kon Yeow (pix) said the money, in the form of financial incentives, will be disbursed in three components.
The first is directed at those considered most vulnerable. They include hawkers, petty traders, taxi drivers, trishaw peddlers e-hailing drivers, the disabled and those among the low income, or B40, group.
The second group to benefit from the incentive are the blue collar workers. Chow said the money is meant to help them survive and take care of their families.
The third component is to help ensure business continuity when the country gets through the crisis.
Chow, who made the announcement at his daily social media update to the public, said the state government would give a one-off payment of RM500 each to registered petty traders, hawkers, food truck vendors, tour guides, taxi drivers and trishaw peddlers.
E-hailing drivers will be given RM300 each.
Those who live in state public housing units will be exempted from paying rent for two months while those who lease lots at the wet markets, food courts and other similar facilities will not have to pay a month’s rent.
A total of RM3 million from zakat contributions has been set aside to help families of those who have contracted Covid-19.
Chow said the frontliners from the state’s two city councils will each get RM300 in recognition of their role in helping to curb the spread of the virus.
Others who will also benefit from the RM300 payout are uniformed personnel serving under the movement control order (MCO) initiative aimed to curtail the growth rate of Covid-19 infections.
A total of RM10 million has been set aside for the purchase of equipment such as protective suits, surgical masks, hand sanitizers and thermometers.
Entrepreneurs whose businesses have incurred losses as a result of the MCO will be given interest-free loans under the Penang Business Continuity plan. A total of RM30 million has been allocated for this purpose.
The 40 state assemblymen will be provided RM30,000 each to finance relief efforts for their constituents affected by the MCO.
The state will also defer payments for trading lots used by small-scale businesses.
Read More
https://www.thesundaily.my/local/penang-govt-allocates-rm75m-to-disbursed-as-aid-BN2179939
Views: 0
Vanguard CEO Tim Buckley explains why indexing’s dynamic growth is a win for investors.
Read More
https://investornews.vanguard/dont-stop-believing-in-the-benefits-of-indexing/
Views: 0
Plants need nitrates for good growth, but they can also accumulate in leaves of crops like rocket. So are foods like this safe to eat, wonders James Wong
Read More
https://www.newscientist.com/article/2238043-is-your-salad-going-to-kill-you/?utm_campaign=RSS%7CNSNS&utm_source=NSNS&utm_medium=RSS&utm_content=home
Views: 0
Compare the similarities between stock ETFs, individual stocks, and stock mutual funds to see if Vanguard stock ETFs could fit into your portfolio.
Read More
https://investornews.vanguard/consider-stock-etfs-for-long-term-growth/
Views: 0
KUALA LUMPUR: A member of the Felcra Berhad Board of Directors told the sessions court here today that Datuk Seri Bung Moktar Radin informed the then Finance Minister to recommend Felcra to invest RM150 million in Public Mutual Berhad Unit Trust in 2015.
Dr Habibah Suleiman, 72, said she did not know that the amount of investment sought was RM150 million as the sum approved at the board meeting was only RM50 million.
Bung Moktar was then the non-executive chairman of Felcra.
“The board did ask YB Datuk Bung Moktar about the difference in amount that was invested in the Public Mutual Trust Fund. YB Bung had stated that he took along a Felcra application letter to meet the Finance Minister for his approval. YB Bung told the board that the Finance Minister recommended to him to invest RM150 million.
“I assumed that he (Bung) had changed the amount of RM50 million to RM150 million after that recommendation,” she said during a key examination by deputy public prosecutor Roslan Mat Nor at a corruption case trial involving by Kinabatangan MP Datuk Seri Bung Moktar and his wife Datin Seri Zizie Ezette A. Samad.
The fifth prosecution witness said that based on the reply from the Minister of Finance Incorporated (MKD), it (MKD) had no objection to Felcra’s application to invest RM150 million.
“Other details (in the letter) also stated that the board of directors (Felcra) had to ensure that Felcra Berhad continuously monitored the investment’s performance so that early risk mitigation can be carried out in the event of any clear decline in the equity market,” she said.
She said a letter was submitted to the board after the investment had been made and the board also knew nothing about the amount (RM150 million).
Asked by Roslan as to when she first knew that the investment had been increased from RM50 million to RM150 milion, Habibah said “During the board of directors’ meeting in April 2005.”
Roslan: Why didn’t you object against the decision?
Habibah: The decision to raise the investment sum to RM150 million was made by the (then) Finance Minister, so who am I to object to it?
Lawyers M. Athimulan and Datuk K. Kumaraendran are representing Bung Moktar and Zizie Ezette, respectively.
According to the first charge, Bung Moktar, 60, who was at that time the non-executive chairman of Felcra, was accused of taking a bribe of RM2.2 million in cash from Public Mutual’s investment agent Madhi Abdul Hamid, 38, through his wife Zizie Ezette.
He was accused of committing the act as a reward for obtaining approval from the Minister of Finance II for Felcra to make a RM150 million investment in Public Mutual unit trust products.
The offence was allegedly committed at Public Bank Berhad, Taman Melawati Branch, No. 262-265, Jalan Bandar 12, Taman Melawati here, between 12.30pm and 5pm, on June 12, 2015.
For the second charge, Bung Moktar was accused of taking for himself a bribe of RM262,500 in cash from the same individual (Madhi) through an account of the bank’s investment product Public Islamic Treasures Growth Fund (PITGF) numbered 044797816 and registered under the name of Zizie Izette for the same purpose.
Bung Moktar was also accused of taking for himself a bribe of RM337,500 from Public Mutual’s investment agent, Norhaili Ahmad Mokhtar, 42, through a Public Ittikal Sequel Fund (PITSEQ) account numbered 044797824 registered under the name of Zizie Izette for the same purpose. Both offences were allegedly committed at the same location at 12.16pm and 12.28pm, on June 19, 2015.
The charges are framed under Subsection 17(a) of the MACC Act and punishable under Section 24(1) of the same Act which provides for imprisonment of not more than 20 years and a fine of not less than five times the amount of the bribe or RM10,000 whichever is higher, if convicted.
Zizie Izette, 41, a former actress, pleaded not guilty to three counts of abetting her husband on the same offences, at the same places, dates and times under Section 28(1)(c) of the MACC Act and punishable under subsection 24(1) which provides for imprisonment of not more than 20 years and a fine of not less than five times the amount of the bribe or RM10,000 whichever is higher, if convicted.
The hearing continues before judge Rozina Ayob tomorrow. – Bernama
Read More
https://www.thesundaily.my/local/bung-moktar-said-finance-minister-recommended-rm150m-investment-witness-EC2136556
Views: 0
In our annual global economic and market outlook, Vanguard outlines its expectations for growth and market returns.
Read More
https://investornews.vanguard/vanguards-global-outlook-for-2020-the-new-age-of-uncertainty/
Views: 0
See our expectations for 2020 growth, inflation, monetary policy, and more in our global outlook summary.
Read More
https://investornews.vanguard/global-outlook-summary-the-new-age-of-uncertainty/
Views: 0
KUALA LUMPUR: Sectors affected by the Covid-19 outbreak will be given electricity bill discounts, said Energy and Natural Resources Minister Datuk Dr Shamsul Anuar Nasarah.
In a statement today, he said it was one of the measures that would be implemented under the 2020 Economic Stimulus Package announced in February.
“I will also ensure that the country’s electricity supply industry supports the government’s efforts to implement the economic stimulus package by accelerating the implementation of renewable energy projects as well as the development of the country’s electricity supply infrastructure,“ he said.
Meanwhile, Shamsul Anuar said his ministry was currently reviewing plans made in the energy sector to ensure that the initiatives were in line with the new government’s desire and policies.
He said the direction of the country’s power generation industry under the new government would also be announced after he received detailed input over the matter.
Shamsul said the agenda to boost renewable energy growth would also continue in line with the government’s aspirations under the Shared Prosperity Vision 2030. — Bernama
Read More
https://www.thesundaily.my/local/covid-19-affected-sectors-to-get-electricity-bill-discounts-CC2127523
Views: 0