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SAN FRANCISCO : Crude oil prices are likely to stabilise at the current US$30-40 a barrel and as such there is no need to make any more budget adjustments, Prime Minister Datuk Seri Najib Razak said. 

But should prices dip below US$30, then the government may re-look at its fiscal position, Najib told reporters covering his US trip to California. 

Najib had in January recalibrated the 2016 Budget, taking into account the sharp drop of world oil prices. 

As such, the government revised the budget assumption price to between US$30 and US$35 per barrel from US$48. 

“It looks like oil prices are going to likely stabilise between US$30 and US$40 per barrel, in the mid-US$30 for a while,” he said. “If that happens, that’s within the range of our recalibration of the budget, so it isn’t necessary for us to make any more adjustments. 

“If it falls below US$30, then the government will re-look at our fiscal position,” said Najib, who is also finance minister. Saudi Arabia and other OPEC producers have refused to reduce output in an attempt to drive less competitive players, in particular US shale oil producers, out of the market. 

But in the first sign of OPEC and non-cartel

SAN FRANCISCO : Finisar Corporation, a leading US technology company, is very upbeat on Malaysia and will invest a further RM400 million to expand its Malaysian operations in Perak. 

Finisar, which has invested US$160 million in Perak so far, may not be a household name but the company’s contribution to Perak’s economy is enormous.

It is the biggest employer among multinational firms operating in Perak with 7,000 workers. 

And it contributes 25 per cent of Perak’s manufacturing GDP and five

KUALA LUMPUR : The Employees Provident Fund (EPF) is set to launch its pioneer fully shariah-compliant fund in January 2017 as an option for contributors interested in converting their savings to full shariah compliance status.

Deputy Chief Executive Officer (Investment) Datuk Mohamad Nasir Ab Latif said the initial fund size would be between RM100 billion and RM120 billion.

"The fund is going to be on a first come, first served basis as I don't think we can accommodate everyone.

"We are

KUALA LUMPUR : The Trans-Pacific Partnership Agreement (TPPA) took five years and 19 rounds of negotiations before it was concluded on Oct 5, 2015.

The deal is aimed at freer trade by reducing tariffs, improving markets access and setting common ground for labour and environmental standards and intellectual property protections.

The twelve countries namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States and Vietnam represent 40 per cent

Malaysian Prime Minister Datuk Seri Najib Tun Razak has been accorded the honour to address the US-ASEAN Leaders' Summit in Sunnylands, California, during the opening ceremony on Monday (Tuesday in Malaysia).

Malaysian Ambassador to the United States Datuk Dr Awang Adek Hussin said Wednesday (Thursday in Malaysia) that Kuala Lumpur was given the honour due to its role as the coordinating country for US-ASEAN relations for the 2015-2018 period.

United States President Barack Obama was also

AUCKLAND : Businesses in Malaysia, including small and medium scale enterprises, are looking forward to greater market access opportunities under the just-signed Trans-Pacific Partnership Agreement, Minister of International and Industry Datuk Seri Mustapa Mohamed said here Thursday.

He said the textile, electrical and electronics, palm oil and rubber industries were also among sectors that were keen to exploit opportunities arising from an expanded market and lower tariffs under the new

KUALA LUMPUR : Following are among benefits that Malaysia will derive from the Trans-Pacific Partnership Agreement (TPPA), the biggest trade deal thus far, signed today in Auckland, New Zealand.

* Malaysia's Gross Domestic Product (GDP) is projected to increase by US$107 billion to US$211 billion over 2018-2027, which would raise GDP growth between 0.60 per cent and 1.15 per cent in 2027

* Investments projected to rise by US$136 billion to US$239 billion over 2018-2027 - attributable largely

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