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ABB: Global energy industry moving towards

KUCHING: The global power industry is moving towards digitalisation in order to meet the growing energy supply needs of the world’s population in a sustainable manner. According to ABB senior group vice president of the ABB power grids division for South Asia, Middle East and Africa, Venu Nuguri, Malaysia’s energy landscape will likely undergo an […]


Relook policies aimed at reducing income disparity: Economists

PETALING JAYA: Economists flag income disparity as one of the issues that has to be relooked, ahead of the mid-term review of the 11th Malaysia Plan set to be tabled on Oct 18.

Malaysian Institute of Economic Research (MIER) executive director Prof Dr Zakariah Abdul Rashid said at a media briefing today that the policies related to income disparity between race, state and income group's should be scrutinised and if possible reviewed.

“This is a long-term plan, so it is essential to look at how it can strengthen the economic fundamentals to spur productivity. The allocation of resources is also an issue that has to be relooked given that the income disparity has widened between income groups, race and state,” he explained.

Socio-economic issues such as income disparity and cost of living has to be tackled to ensure that the economy is manageable in the long term.

Concurring with this, Sunway University Business School professor of economics Dr Yeah Kim Leng told SunBiz that unless inequality of income within individual communities is addressed, it will be difficult to bridge the gap on a national level.

However, he said it is timely to shift to needs-based economic policies to reduce disparity, to accelerate and promote an inclusive growth, maximising potential, fully utilise resources and unleash potential of communities.

Meanwhile, the executive director of the Socio-Economic Research Centre (SERC), Lee Heng Guie, said the mid-term review is expected to have programmes to mitigate cost of living burden and uplift the Bottom 40 (B40) group.

Areas such as human capital development, infrastructure and technology are also key in bridging disparity.

Lee opined that bridging income disparity is not only about reducing the number of taxes imposed but also through tangible and intangible initiatives such as education, investment in job creation and increasing income.

On expectations for the mid-term review, both Yeah and Lee noted that the government will come up with plans moving in the direction of the digital economy and the fourth industrial revolution.

Lee said while the policies on the original plan will be maintained while new dimensions will be added to it.

He also said it will be interesting to see if past targets such as reaching a high-income nation status by 2020 and economic growth projections of 5-6% per annum will be reset.

Yeah added that structural transformation to attain fiscal sustainability, reducing impediments to sustainable growth, private sector-led economic growth are areas to look out for in addition to social, environmental aspects and political maturity.


Brexit negotiators eye Monday breakthrough, N. Irish party ups the ante

LONDON, Oct 12 — British and EU negotiators making headway on the Irish border hope for a Brexit deal breakthrough on Monday, diplomats said, though the British prime minister’s Northern Ireland ally has stoked uncertainty by warning it could…


US bond yields near seven-year high stymie world stocks’ recovery

LONDON, Oct 10 — World stocks flatlined today just above eight-week lows, curbed by US long-dated borrowing costs near multi-year peaks, renewed fears for the global economy and the possibility of an Italy-EU clash over budget spending. The…


AirAsia collaborates with Google Cloud to become travel technology company

LONDON, Oct 10 — AirAsia is collaborating with Google Cloud to integrate machine learning and artificial intelligence (AI) into every aspect of its business and culture as part of its transformation into a travel technology…


European shares fall as uncertain mood prevails, luxury sector hit

LONDON, Oct 10 ― European shares opened in negative territory today as investors assessed whether worries about global growth warrant the cautious mood which has prompted Wall Street and Asian markets to trade sideways during the previous session….


Analysing consumer complaints about e-Commerce in Southeast Asia

Most businesses are aware that consumer feedback is highly vital in order to increase its brand credibility. The e-commerce sector is not spared from this as well but in fact is at the forefront in today’s internet savvy era. Consumers can easily vent out their dissatisfactions today through social media channels and other outlets where […]


007 carmaker Aston Martin stalls in glitzy £4.3 bln London IPO

LONDON: James Bond’s favourite carmaker Aston Martin stalled Wednesday after making a glitzy £4.3-billion (US$5.6-billion, 4.9-billion-euro) debut on the London stock market. Aston, which plays a starring role in the fictional British spy’s blockbuster films, turned on the glamour with its classic and modern day cars parked outside the London Stock Exchange in the heart of […]


Global bonds, dollar track US yield surge, stocks downbeat

LONDON, Oct 4 — A rise in US Treasury yields to their highest levels since mid-2011 pulled global bond yields higher across the board and boosted the dollar today, while stocks sagged in response. An influential survey of the US services sector…