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Malaysia to shut some factories of world's biggest latex glove maker
  + stars: | 2020-11-23 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +7 min
SEE NEW POSTSMalaysia to shut some factories of world's biggest latex glove maker Medical workers at a Top Glove hostel under enhanced lockdown in Klang, Malaysia on Nov. 18. Lim Huey Teng / Reuters Malaysia will close some factories of the world’s largest maker of latex gloves in stages as it moves to screen employees for Covid-19 after more than 2,000 workers tested positive, authorities said. But 28 factory buildings will be shut in phases after 2,453 workers tested positive for the virus, from 5,767 screened, the country's director-general of health Noor Hisham Abdullah said on Monday. The cases are the country’s largest active cluster and its second largest since the start of the pandemic. Top Glove has around 16,000 employees and runs 47 factories across Malaysia, Thailand, China and Vietnam, with 36 of them producing gloves.
Persons: Lim Huey Teng, Noor Hisham Abdullah, King Felipe, Andres Ballesteros, King Felipe VI, Letizia, Mark Metcalfe, Alan Joyce, he’s, ” Joyce, what’s, Bishop Salvador Martínez, Loeffler, Sen, Kelly Loeffler, Stephen Lawson, Lawson Organizations: Reuters, Covid, Royal, France, Qantas, Sydney International Airport, Australia’s Network Nine, NFL, Players, National Football League, Roman Catholic Church, Virgin, Episcopal Conference, Bishop Locations: Malaysia, Klang , Malaysia, Reuters Malaysia, Thailand, China, Vietnam, Europe, North America, Oviedo, Spain, Australian, Australia, MEXICO, Guadalupe, Mexico, Mexico City, Montana, HELENA, Mont, — The Montana, Georgia
Malaysia Airlines seeks aid from wealth fund Khazanah, creditor talks continue
  + stars: | 2020-11-21 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
An airport employee beside a Malaysia Airlines plane at Kuala Lumpur International Airport in Sepang, Malaysia, July 22, 2019. REUTERS/Lim Huey TengKUALA LUMPUR (Reuters) - Malaysia Airlines’ parent company has sought financial aid from its sole shareholder, the nation’s sovereign wealth fund, as debt restructuring talks with creditors drag on, the company said on Saturday. The group said it remains in talks for a restructuring and that it was targeting a commercial agreement in the first week of December. Malaysia Airlines is seeking to restructure after the COVID-19 pandemic forced it to slash operations. Chief Executive Izham Ismail told staff in a memo last month that the restructuring talks were taking longer than planned.
Persons: Lim Huey, Malaysia’s, Khazanah, lessors, Izham Ismail Organizations: Malaysia Airlines, REUTERS, Reuters, Malaysia Airlines ’, “ Malaysia Aviation Group Locations: Kuala Lumpur, Sepang, Malaysia, KUALA LUMPUR, Nasional
WASHINGTON (Reuters) - President Donald Trump, battered by back-to-back setbacks in his desperate bid to overturn the U.S. presidential election, persisted with claims of massive voter fraud on Saturday, two weeks after Democrat Joe Biden was declared president-elect. His campaign has not been able to provide any evidence for its claims of widespread and coordinated electoral fraud, however. “To effectuate this strategy, Defendants are openly seeking to disenfranchise Black voters, including voters in Detroit, Michigan,” said the lawsuit. PRESSURE TO START FORMAL TRANSITIONBiden, who has denounced Trump’s attempt to reverse the election results as “totally irresponsible”, was due to spend Saturday meeting with transition advisers. Senior Republicans have remained largely silent about Trump’s unsubstantiated claims of election fraud or have defended his right to seek redress, but pressure was building after several voiced doubts on Friday.
Persons: Donald Trump, Democrat Joe Biden, Lim Huey Teng Trump, Biden, Brad Raffensperger, Trump, Mike Shirkey, Lee Chatfield, , ” Trump, , Trump’s, Rudolph Giuliani Organizations: WASHINGTON, Democrat, APEC, REUTERS, Republican, Democratic, Georgia, , Twitter, Trump, Electoral, Detroit, Wayne, Senior Republicans, General Services Administration Locations: Kuala Lumpur, Malaysia, Georgia, Michigan, ” Michigan, Pennsylvania, Detroit, Detroit , Michigan, Wayne County
U.S. President Donald Trump is seen on a screen attending the virtual APEC Economic Leaders Meeting 2020, in Kuala Lumpur, Malaysia November 20, 2020. His campaign has not provided evidence for its claims of widespread and coordinated electoral fraud. “Massive voter fraud will be shown!” Trump wrote on Twitter. Senior Republicans have remained largely silent about Trump’s unsubstantiated claims of election fraud or have defended his right to seek redress, but several voiced doubts on Friday. The single-day death toll surpassed 2,000 this week for the first time since late June, according to a Reuters tally.
Persons: Donald Trump, Democrat Joe Biden, Lim Huey Teng, Biden, Trump, , ” Trump, Brian Kemp, counterprotest, “ Defendants, , Trump’s, ” Biden, Rudolph Giuliani Organizations: WASHINGTON, Democrat, U.S, APEC, REUTERS, Republican, Republican National Committee, Michigan Republican Party, Department of State, Republicans, Democrats, Michigan, Twitter, Democratic, Georgia, Trump, statehouse, Electoral, Detroit, Senior Republicans, General Services Administration, Public, Reuters Locations: Michigan, Kuala Lumpur, Malaysia, Wayne County, Black, Detroit, Washington, Georgia, Atlanta, Pennsylvania, Sterling , Virginia
Participants of the virtual APEC Economic Leaders Meeting 2020 are seen on a screen, in Kuala Lumpur, Malaysia November 20, 2020. In the communique, the leaders said they recognised “the importance of a free, open, fair, non-discriminatory, transparent and predictable trade and investment environment” to drive growth during the crisis. It said Trump and APEC leaders had endorsed the APEC Putrajaya Vision 2040 “that will make free and fair trade the focus of the APEC agenda for the next two decades”. In his remarks on Friday, Xi called for free and open trade and investment, and support for multilateralism. BIGGEST CHALLENGEBefore the meeting, several APEC leaders warned against protectionism and expressed hope that a Biden administration will engage more and support multilateral trade.
Persons: Lim Huey, Donald Trump, Xi Jinping, Muhyiddin Yassin, , Trump, Joe Biden, Trump’s, Xi, , Biden, Jacinda Ardern, Lee Hsien Loong, Chris Coons Organizations: Reuters, Asia Pacific, APEC, REUTERS, Lim Huey Teng, Economic Cooperation, China’s, U.S ., Malaysian, Association of Southeast Asian Nations, ASEAN, Regional Comprehensive, multilateralism, Trans, Pacific, Pacific Partnership, , Zealand, Singapore, U.S Locations: KUALA LUMPUR, Kuala Lumpur, Malaysia, Asia, U.S, China, United States, Chile, COVID, APEC Putrajaya, Pacific,
KUALA LUMPUR (Reuters) - A virtual summit of Asia Pacific leaders started on Friday with U.S. President Donald Trump and his Chinese counterpart Xi Jinping in attendance to discuss the coronavirus crisis and global economic recovery amid lingering trade differences. A view shows virtual APEC Economic Leaders Meeting 2020, in Kuala Lumpur, Malaysia November 20, 2020. Asia Pacific leaders have called for more open and multilateral trade to support the economic recovery and warned against protectionist trade policies, with Xi saying unilateralism has added to global economic risks. The only time he has joined an APEC summit - held annually - was in 2017. Trump also missed two virtual Asia meetings last week: the 10-member Association of Southeast Asian Nations (ASEAN) summit and the broader East Asia Summit.
Persons: Donald Trump, Xi, Lim Huey Teng, Trump, unilateralism, Muhyiddin Yassin, ” Muhyiddin, Jacinda Ardern, Yoshihide Suga, Vladamir Putin, Justin Trudeau, ” Ardern, Joe Biden Organizations: Reuters, Asia Pacific, U.S, APEC, REUTERS, Economic Cooperation, Trump, Malaysian, New Zealand, Canadian, Pacific Partnership, Regional Comprehensive, Association of Southeast Asian Nations, East Asia Summit Locations: KUALA LUMPUR, Asia, Kuala Lumpur, Malaysia, United States, China, Russian, Chile, Bogor
Malaysia's Najib seeks to depose Goldman Sachs, ex-banker in 1MDB defence
  + stars: | 2020-11-18 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
FILE PHOTO: Former Malaysian Prime Minister Najib Razak speaks during an interview with Reuters in Slim River, Malaysia August 23, 2020. REUTERS/Lim Huey TengKUALA LUMPUR (Reuters) - Former Malaysian prime minister Najib Razak asked a U.S. court on Tuesday for permission to seek documents and testimony from investment bank Goldman Sachs to help in his defence against criminal charges in Malaysia over the 1MDB financial scandal. In a court filing in New York, Najib said Goldman Sachs and its former Southeast Asia chairman, Tim Leissner, probably had evidence that 1MDB officials schemed to defraud the fund and were now falsely implicating him to avoid responsibility. A Goldman Sachs spokesman declined to comment, as did a lawyer for Leissner. Leissner pleaded guilty to conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act in 2018.
Persons: Najib Razak, Lim Huey, Goldman Sachs, Najib, Goldman, Tim Leissner, schemed, Leissner, ” Najib Organizations: Malaysian, Reuters, REUTERS, U.S . Justice, 1Malaysia Development, Southeast, Saudi, Leissner, 1MDB Locations: Slim River, Malaysia, KUALA LUMPUR, Malaysian, New York, Southeast Asia, United States
KUALA LUMPUR (Reuters) - Malaysia’s central bank provided a rosier growth outlook for 2021 after the economy suffered a smaller contraction in the third quarter, but said it would continue to help households and businesses withstand the fallout of the COVID-19 pandemic. REUTERS/Lim Huey TengGross domestic product fell 2.7% in July-September, smaller than the 3.2% decline forecast in a Reuters poll and showing a marked improvement on the 17.1% slump in the second quarter. The central bank said 125 basis points worth of rate cuts this year would support 2021 growth, but that it would continue to make “policy support and assistance” available. The BNM also revised its 2021 projections, raising the midpoint growth forecast to 7% from an earlier average of 6.75%. Barclays said it expected the central bank to leave rates unchanged throughout 2021, with a low risk of a 25 basis point cut.
Persons: Lim Huey Teng, , Nor Shamsiah Mohd Yunus, Alex Holmes Organizations: Reuters, REUTERS, Bank Negara Malaysia, Gross, Barclays, Capital Economics Locations: KUALA LUMPUR, Kuala Lumpur, Malaysia, Bank, COVID, , Asia
KUALA LUMPUR (Reuters) - Malaysia’s government announced an expansionary budget on Friday aimed at spurring domestic activity as the country grapples with the fallout of the COVID-19 pandemic, setting aside concerns of a growing fiscal deficit for the time being. People dine in at a restaurant in front of Petronas Twin Towers, in Kuala Lumpur, Malaysia November 5, 2020. Picture taken November 5, 2020. REUTERS/Lim Huey TengHere are some highlights from the planned budget, including data from the fiscal and economic outlook reports released by the government ahead of the budget speech:2021 BUDGET* Expenditure to rise to 322.5 billion ringgit ($77.94 billion) in 2021 from 314.7 billion ringgit in 2020* Revenue to total 236.9 billion ringgit vs 227.3 billion ringgit in 2020* Operating expenditure seen at 236.5 billion ringgit* Development expenditure seen at 69 billion ringgit* COVID-19 fund allocation seen at 17 billion ringgit vs this year’s 38 billion ringgit* Dividend from state oil firm Petronas [PETR.UL] at 18 billion ringgit, down from this year’s 34 billion ringgitFISCAL TARGETS* Fiscal deficit to fall to 5.4% in 2021 from 6% in 2020 - the highest since 2009 global financial crisis* Current account surplus seen falling to 20.3 billion in 2021 from this year’s 48.5 billion ringgit due to an expansion of domestic industrial and investment activities* Forecasts fiscal deficit to average 4.5% between 2021 and 2023, assuming the economy grows at a pace of 4.5%-5.5% over the period and crude oil prices trades at $45-$55 per barrelECONOMY* Economy seen growing 6.5%-7.5% in 2021, after shrinking 4.5% this year* Gross exports to grow 2.7% after falling 5.2% in 2020* Inflation expected to normalise at 2.5% in 2021* Unemployment rate to drop to 3.5% in 2021 from 4.2% this year* Domestic demand seen rebounding 6.9% in 2021, after an expected fall of 3% this year due to lower private and public sector spending($1 = 4.1380 ringgit)
Persons: Lim Huey Teng Organizations: Reuters, Petronas Twin Towers, REUTERS, Petronas Locations: KUALA LUMPUR, Kuala Lumpur, Malaysia
KUALA LUMPUR (Reuters) - Malaysia unveiled an expansionary budget on Friday aimed at spurring domestic activity, according to government reports, as it grapples with the economic fallout of the COVID-19 pandemic amid rising political uncertainty. Malaysia's Finance Minister Tengku Zafrul holds a bag containing the 2021 budget as he poses for a picture outside Finance Ministry building, in Putrajaya, Malaysia November 6, 2020. A defeat of the budget would amount to a no confidence vote for Muhyiddin, and would plunge the country into more political instability. The budget comes as Malaysia’s economy has been hard hit by the pandemic. Revenue meanwhile is seen rising 4.2% to 236.9 billion ringgit next year, including an estimated 18 billion ringgit in dividends from state energy firm Petronas [PETR.UL].
Persons: Tengku Zafrul, Lim Huey Teng, Muhyiddin Yassin, ” Muhyiddin Organizations: Reuters, Malaysia's, Finance Ministry, REUTERS, Petronas Locations: KUALA LUMPUR, Malaysia, Putrajaya, COVID
FILE PHOTO: Malaysia's Prime Minister Muhyiddin Yassin wearing a protective mask arrives at a mosque for prayers, amid the coronavirus disease (COVID-19) outbreak in Putrajaya, Malaysia August 28, 2020. REUTERS/Lim Huey Teng/File PhotoKUALA LUMPUR (Reuters) - Malaysia Prime Minister Muhyiddin Yassin called on lawmakers on Saturday to ensure the country’s 2021 budget is passed to tackle the COVID-19 pandemic. “I hope all parliamentarians can put aside political differences to ensure that the 2021 Budget is approved in the interest of the people and the country,” he said in a televised address. He also said elections that must be held in Sabah and Sarawak states despite a recent spike in COVID-19 infections, unless a state of emergency is declared.
Persons: Muhyiddin Yassin, Lim Huey Teng, Organizations: Malaysia's, REUTERS, Reuters, Malaysia Prime Locations: Putrajaya, Malaysia, KUALA LUMPUR, Sabah, Sarawak, Sabah
FILE PHOTO: Malaysia's Prime Minister Muhyiddin Yassin wearing a protective mask arrives at a mosque for prayers, amid the coronavirus disease (COVID-19) outbreak in Putrajaya, Malaysia August 28, 2020. REUTERS/Lim Huey Teng/File PhotoKUALA LUMPUR (Reuters) - Malaysia Prime Minister Muhyiddin Yassin called on lawmakers on Saturday to ensure the country’s 2021 budget is passed to tackle the COVID-19 pandemic. “I hope all parliamentarians can put aside political differences to ensure that the 2021 Budget is approved in the interest of the people and the country,” he said in a televised address. He also said elections that must be held in Sabah and Sarawak states despite a recent spike in COVID-19 infections, unless a state of emergency is declared.
Persons: Muhyiddin Yassin, Lim Huey Teng, Organizations: Malaysia's, REUTERS, Reuters, Malaysia Prime Locations: Putrajaya, Malaysia, KUALA LUMPUR, Sabah, Sarawak, Sabah
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