<ul>
	<li>To not burden the rakyat, this increase will not cover services such as F&amp;B and telecommunications</li>
</ul>

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To not burden the rakyat, this increase will not cover services such as F&B and telecommunications

Service tax goes up to 8% from 6%, expanded to logistics, brokerages, underwriting and karaoke services

The cost of road repairs due to floods following the Northeast Monsoon (MTL) has reached RM101.57 million, said Works Minister Datuk Seri Alexander Nanta Linggi.

He said it involved road repair costs in the states of Peninsular Malaysia totalling RM45.37 million covering periodic repairs of pavement, periodic non-pavement, bridges and traffic lights as well as street lights.

Cost of road repairs due to floods exceeded RM100 mil — Nanta

The Malaysian Anti-Corruption Commission (MACC) and the Federal Bureau of Investigation (FBI) will increase cooperation to address the challenges in combatting corruption crimes at regional and international levels.

MACC, FBI enhance cooperation to combat corruption

Russia’s seaborne crude exports were stable ahead of the toughest sanctions yet imposed on its oil sector in response to Moscow’s 2022 invasion of Ukraine.

But flows could be hit in the coming weeks after the US took measures on Friday against two of the country’s top exporters and about 160 oil tankers, as well as key traders, insurers and a Chinese company that facilitated the unloading of a cargo from a previously sanctioned ship.

Russian crude shipments hold steady before sanctions hit

Loft Orbital raised US$170 million (RM765.89 million) in a funding round that will help the space infrastructure startup increase launch frequency and compete for contracts against aerospace juggernauts like Northrop Grumman and Lockheed Martin Corp.

Space firm Loft Orbital raises US$170 mil to scale up launches

Chancellor of the Exchequer Rachel Reeves said the UK will meet its fiscal rules “at all times”, as she faced ongoing pressure to explain how she’ll stabilise Britain’s public finances following a recent spike in borrowing costs.

Rachel Reeves says UK will meet fiscal rules ‘at all times’

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

Yinson, Mah Sing, YTL Power, Atlan, Sunway, Kawan Food, Theta Edge, South Malaysia Industries

Country Garden Holdings Co suffered another record loss in 2023 as one of China’s largest developers continues its lengthy restructuring process after defaulting on its debt.

Country Garden posts another record loss on China housing slump

Capital One Financial Corp misled customers when it rolled out a new savings account with a higher interest rate it didn’t also give to existing savings accounts, the Consumer Financial Protection Bureau said Tuesday in a lawsuit against the bank.

Capital One accused of misleading customers on savings rates

Wall Street's main indices opened higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year.

Wall St opens higher after softer-than-expected producer price data

EVENING 5: Yinson gets US$1b investment

When shown US Department of Justice (DOJ) action documents for 2017 and 2021, former 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy agreed that 1MDB funds following two bond energy deals in 2012, and two Deutsche Bank loans in 2014, had made their way to “MO1”, his wife Datin Seri Rosmah Mansor, fugitive businessman Low Taek Jho (Jho Low), Jho Low’s associate Eric Tan Kim Loong, film producer Riza Aziz, rapper Kasseem Dean, and then-managing director of International Petroleum Investment Company (IPIC) Khadem al-Qubaisi.

Arul Kanda agrees funds from two bond deals went to 'MO1', Rosmah, Jho Low, Riza, and Khadem al-Qubaisi, as claimed by DOJ, but denies knowledge of it

KUALA LUMPUR (Jan 14): Nomura Global Markets Research expects Malaysia will tighten its monetary policy this year, due to rising inflation driven by the rationalisation of fuel subsidies.

Nomura predicts rate hike for Malaysia as strong growth expected to lead to pickup in inflation

Mah Sing Group Bhd (KL:MAHSING) said it is confident that its data centre projects will pass through the proposed US restrictions on the export of artificial intelligence (AI) chips.

Mah Sing confident data centre projects will pass through potential US chip export restrictions

The digital bank jointly owned by YTL Power International Bhd (KL:YTLPOWR) and Singapore-based Sea Ltd has received approval from the Ministry of Finance (MOF) to commence operations, effective Dec 20, 2024.

YTL Power-Sea digital bank secures regulatory nod for operations

The initial public offering of cafe chain operator Oriental Kopi Holdings Bhd, set to be listed on Jan 23 on the ACE Market of Bursa Malaysia, has attracted RM1.61 billion worth of retail interest — nearly nine times the RM183.96 million it was looking to raise from the IPO.

ACE Market-bound Oriental Kopi's IPO draws over RM1.6 bil retail interest

Sunway Property, the property arm of Sunway Group, announced on Tuesday the appointment of Chung Soo Kiong as its new managing director.

Sunway Property appoints Chung Soo Kiong as new MD, succeeding Sarena Cheah

Yinson Production, an indirect subsidiary of Yinson Holdings Bhd (KL:YINSON), has secured US$1 billion (RM4.51 billion) worth of funding from a consortium of international investors, led by a wholly owned subsidiary of Abu Dhabi Investment Authority (Adia), for expansion.

Yinson secures US$1b investment from Abu Dhabi consortium

The ringgit is expected to come under pressure against the US dollar, following Donald Trump's return to the White House and a slowdown in China's economy, according to Maybank Investment Bank.

Ringgit to weaken to 4.7 against USD before recovering by year end, says Maybank IB

Public Bank Bhd and its late founder’s family unveiled moves to ensure the continuity of the franchise

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<div class="ceonothumb pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-desc="(Photo by Zahid Izzani/The Edge)" data-re...

2024 Newsmakers: Managing Teh’s legacy

The High Court has dismissed former attorney general Tan Sri Tommy Thomas' attempt to remove judge Roz Mawar Rozain from presiding over the malicious prosecution suit filed against him (Thomas), the Malaysian Anti-Corruption Commission (MACC), and the government by former Federal Land Development Authority chairman Tan Sri Shahrir Samad.

Tommy Thomas fails to recuse judge in Shahrir's malicious prosecution suit

The distribution of the 'Sumbangan Asas Rahmah' (Sara) aid starting from Wednesday will see improvements in the targeted aid, resulting from an increase in allocations under Budget 2025 for the Sara and 'Sumbangan Tunai Rahmah' (STR) assistance to their highest historical level of RM13 billion, compared with RM10 billion in 2024.

Record-high RM13b Sumbangan Asas Rahmah, Tunai Rahmah aid distribution begins on Wednesday

These corporate old-timers continued to make headlines&nbsp;

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<div class="ceonothumb pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-desc="(Photo by Bloomberg)" data-rel="ceolightbox" href="https://myassets.theedgemalaysia...

2024 Newsmakers: Veterans who are still making deals

The Malaysian ringgit will likely appreciate and outperform regional currencies "slightly" in the near term thanks to its supportive fundamentals that allay downside risks, Standard Chartered said.

Ringgit may continue to 'slightly' outperform regional currencies — StanChart

US President Joe&nbsp;Biden's outgoing administration is finalising rules on Tuesday that will effectively bar nearly all Chinese cars and trucks from the US&nbsp;market, as part of a crackdown on vehicle software and hardware from China.

Biden administration finalises US crackdown on Chinese vehicles

PUTRAJAYA (Jan 14): Former prime minister Datuk Seri Najib Razak told the court on Tuesday that none of the purported 1Malaysia Development Bhd (1MDB) funds spent on corporate social responsibility (CSR) projects&nbsp;benefitted him, or boosted his personal image.

1MDB-Tanore: CSR projects not to boost personal image, nor for personal benefit, says Najib

The Malaysian Palm Oil Board (MPOB) is expecting tight global supply, partly due to Indonesia's upcoming B40 biodiesel mandate, to keep crude palm oil (CPO) prices firm in 2025.

Tight supply, biodiesel mandate to support CPO prices in 2025 — MPOB

Consumer spending in Malaysia appears resilient and may be sustained in the near term with policy measures, economists said, shrugging off the latest data showing slower retail and wholesale trade.

Consumer spending sustained in near term but downside risks are rising, say economists

A summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI down 0.58% to 1,576.46 on Jan 14, 2025

KUALA LUMPUR (Jan 14): ViTrox Corp Bhd (KL:VITROX) will need to spend more on research and development (R&amp;D) to counter intense pricing competition from China in the machine vision system (MVS) segment, said CGS International.

China competition may force ViTrox to increase R&D spending, says CGS

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.