The largest public savings and investment fund in Malaysia is called the Employee Provident Fund, or EPF. Enrollment in the fund is compulsory for most Malaysians working in the private sector, with a mandatory contribution of 11 percent of their annual salary. Employers also contribute. The funds are invested in a mix of stocks and
Hong Kong’s benchmark index, which was in the 15,000-point range in July 1997 when the city returned to Chinese sovereignty, surged above 30,000 in 2007 and 2018. Last Friday, it closed at 16,353. “Every market has its cycle. Hong Kong’s stock market had gone up to 30,000. But he just took today’s low point [for
Spain’s data protection agency said Wednesday it had ordered the temporary suspension of the Worldcoin crypto project that relies on an eye scan to verify a user’s identity, citing concerns about data protection. Worldcoin, set up by OpenAI chief executive Sam Altman, began operating last year and provides users with a private digital identity —
The Australian government yesterday announced an A$2 billion ($1.3 billion) fund to boost trade and investment in Southeast Asia, as leaders from the region gathered for a special Association of Southeast Asian Nations (ASEAN) summit in Melbourne. Prime Minister Anthony Albanese announced the fund to a meeting of Australian and Southeast Asian CEOs, along with
BEIJING — It’s clear that China’s efforts to build confidence in its slowing economy will top the agenda of this week’s meeting of its ceremonial national legislature. What remains unclear is how the ruling Communist Party can navigate toward stronger, sustained growth as China’s workforce is aging, relations with Washington are fraught, and housing construction
British finance minister Jeremy Hunt on Sunday talked down the likelihood of tax cuts in this week’s budget, pledging “prudent and responsible” measures “for long term growth”. The Chancellor of the Exchequer had been widely expected to cut taxes in Wednesday’s budget, in a move seen as a way of closing the gap on the
A view shows the cityscape of Athens, Oct. 24, 2022. [Costas Baltas/Reuters] Italian debt recovery company doValue, which is also active in Greece, plans to diversify its sources of revenue beyond non-performing loans, its CEO said on Friday, after it reported a €19 million net loss for 2023. Healthier bank balance sheets mean levels of
“Over the past three years, about 100 vehicles have been towed away,” he told a radio programme. “Some owners died, but most cases involved owners unable to afford loans.” Minibuses in Causeway Bay. Driving a minibus in the city requires a special licence with a quota in place. Photo: Edmond So The mass minibus confiscation
While farmers across Europe protest high costs and foreign competition, agribusiness investors continue to fortify their positions in the Spanish and European agricultural sector. ADVERTISEMENT The European countryside has become one of the most dynamic and profitable sectors on the continent for investment funds and large agribusiness companies. With returns of over 15%, investors have
The stellar rally in Indian equities that’s made them an investor favorite has run into headwinds that go beyond elevated valuations. Earnings misses, the attractiveness of rival markets amid expectations of a dovish policy shift by the Federal Reserve and a nascent recovery in Chinese equities are casting doubts over India extending a rally that