PETALING JAYA: The Finance and Health Ministries have set up a joint ministerial committee on private healthcare costs to guide and monitor initiatives aimed at reducing private healthcare costs and medical inflation. The committee will include representatives from both ministries and Bank Negara Malaysia supported by a consultative council comprising key stakeholders in the private
A crucial condition for such issuances is that the shareholding percentage of the non-resident shareholders must remain unchanged | Photo Credit: iStockphoto The Finance Ministry has issued a much-needed clarification regarding issuance of bonus shares to non-resident shareholders by companies operating in sectors prohibited for Foreign Direct Investment (FDI). This amendment to the Foreign Exchange
The Department of Financial Services (DFS) has directed public sector banks (PSBs) to focus on selling insurance products along with their core banking objective, according to a CNBC TV report. Acknowledging the importance of public sector banks to meet ‘Insurance for All by 2027’ target, the DFS has asked PSU lenders to focus on insurance
The finance ministry expects the economy to recover gradually over the medium term, with real GDP growth expected to reach 6.5% by FY2027-28, driven by stabilising policies and sectoral improvements. But the government’s efforts to control inflation, enhance productivity, and maintain external sector resilience will be critical for ensuring macroeconomic stability. In its Medium Term
Shares of Muthoot Finance Ltd. gained nearly 6% on Friday, May 30. The shares of its peers Manappuram Finance also gained. This comes after the Finance Ministry posted on social media platform X that the Department of Financial Services (DFS) is examining the draft directions on lending against collateral issued by the Reserve Bank of
The Finance Ministry views the net foreign direct investment (FDI) for FY25 as “rather subdued,” but not a sign of worry, with figures settling at just $0.4 billion. The ministry explains that a rise in repatriations by foreign investors, coupled with a simultaneous increase in overseas direct investments by Indian firms—up nearly $12.5 billion in
he Finance Ministry will provide guarantees to support foreign investment in the country’s future capital city, currently under construction in East Kalimantan, the Nusantara Capital City Authority (OIKN) has said. The guarantees, aimed at easing investor concerns over the megaproject’s execution and continuity, will be issued jointly by the Finance Ministry and PT Penjaminan Infrastruktur
Given the modest start of Unified Pension Scheme (UPS), the finance ministry has written to the pay & accounts offices (PAOs) of central ministries, urging them to take steps to expedite its roll-out. The finance ministry proposed that staff be sensitised to undertake their assigned roles and responsibilities for time-bound implementation of the UPS. The
Now, one can change nominee details in a Public Provident Fund (PPF) account without any fee. The Finance Ministry has notified the removal of the fee. “In the Government Savings Promotion General Rules, 2018, in Schedule II, under ‘Fee to be charged for services,’ the words and figures ‘(b) Cancellation or change of nomination –
VIENTIANE: The Ministry of Finance has announced the seizure of more than 12.3 billion kip, US$265,919, and more than 24.8 million baht from 50 accounts as part of an ongoing anti-corruption investigation. The announcement was made during the 2024 annual inspection review and the 2025 planning meeting of the Party Inspection Committee of the Ministry