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KUALA LUMPUR, Nov 2 (Bernama) – The following are the highlights of the Economic Outlook 2019 report, the first presented under the Pakatan Harapan government. The 142- page report was released by the Ministry of Finance in conjunction with the tabling of the 2019 Budget today by Finance Minister Lim Guan Eng in Parliament.

  • Global economy to expand 3.7 per cent in 2018 and 2019, lower than the earlier forecast of 3.9 per cent by the International Monetary Fund
  • Global trade to widen by 4.2 per cent in 2018 and 4.0 per cent in 2019 (2017:5.2 per cent)
  • Malaysia’s real Gross Domestic Product to increase 4.8 per cent and 4.9 per cent in 2018 and 2019, respectively, steered by sustained private sector expenditure
  • Private sector growth expenditure is expected at 6.5 per cent this year and 6.4 per cent in 2019, constituting about 72 per cent of the Gross Domestic Product 
  • Private consumption to remain the major growth determinant in 2019, expanding 7.2 per cent, supported by a stable labour market, benign inflation and conducive financing conditions
  • Private investment to post a higher growth of 5.0 per cent in 2019, attributed to capital spending in technology-intensive

KUALA LUMPUR, Nov 2 (Bernama) -- Bank Negara will be setting up a RM1 billion fund to finance the first house purchase for those with monthly income not exceeding RM2,300.  

Finance Minister Lim Guan Eng said the fund would be provided from January 1 2019 to purchase affordable houses priced up to RM150,000.

“The fund will be available at Ambank, CIMB Bank, Maybank, RHB Bank and Bank Simpanan Nasional (BSN) at a low financing rate of 3.5 per cent.

“This will reduce the monthly payment

KUALA LUMPUR: The Ministry of Foreign Affairs has said a diplomatic passport issued to Umno lawyer Muhammad Shafee Abdullah has been revoked since Sept 19.

Shafee was issued the passport in 2009 in his capacity as a member of the Asean Human Rights Intergovernmental Commission.

He was issued with the passport again in 2016 when he was appointed ambassador-at-large for human rights, the ministry said in response to a question by Pang Hok Liong (PH-Labis).

Shafee is lawyer for former prime

GEORGE TOWN - The state government is shocked at claims that RM22mil was paid to two individuals to cover up investigations into alleged corruption in Penang’s undersea tunnel project – and wants the developer consortium Zenith Construction Sdn Bhd (CZC) to come clean on the matter.

Chief Minister Lim Guan Eng said the state government was shocked by news that CZC allegedly paid RM19mil to an unnamed businessman and RM3mil to Baling MP Datuk Seri Abdul Azeez Abdul Rahim.

“This is something we

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak, who is facing seven charges involving power abuse, criminal breach of trust and money laundering involving SRC International Sdn Bhd fund amounting to RM42 million, must be present in court for every proceeding against him, even for case management.

High Court judge Mohd Nazlan Mohd Ghazali said the accused (Najib) should be present so that he could follow his case directly.

He made the ruling after Najib’s lead counsel Tan Sri Muhammad

PUTRAJAYA - The Cabinet recognises multi-billionaire Robert Kuok’s contribution to the development of Malaysia, says Datuk Seri Liow Tiong Lai.

“The Cabinet recognises his contribution to the country, and his contribution to the economy over the years.

“The Prime Minister in his statement on Tuesday also commended Kuok for his contribution,” he told reporters after the Cabinet meeting here yesterday.

The Transport Minister said the issue involving Kuok was raised and discussed during the

PETALING JAYA - The accomplishment of multi-billionaire Robert Kuok is a success story for the country and other entrepreneurs, said the Prime Minister’s Office.

In a statement yesterday, the Prime Minister’s press secretary Datuk Seri Tengku Sariffuddin Tengku Ahmad said Kuok’s story is an inspiration to other fellow entrepreneurs to succeed.

He said Prime Minister Datuk Seri Najib Tun Razak also welcomes the statement from Kuok that he has a deep appreciation for the opportunities he had in

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