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Malaysia's PM Muhyiddin faces bellwether vote on 2021 budget
  + stars: | 2020-11-25 | by ( Joseph Sipalan | ) www.reuters.com sentiment -0.99   time to read: +2 min
FILE PHOTO: Malaysia's Prime Minister Muhyiddin Yassin speaks during opening remarks for virtual APEC Economic Leaders Meeting 2020, in Kuala Lumpur, Malaysia November 20, 2020. REUTERS/Lim Huey TengKUALA LUMPUR (Reuters) - Malaysia’s parliament will on Thursday decide whether to approve the government’s 2021 budget, in a vote that could decide Prime Minister Muhyiddin Yassin’s political future as the country grapples with a coronavirus-induced health and economic crisis. Malaysia’s saw its cumulative cases rise by over four-fold since September to nearly 60,000 on Wednesday, in the aftermath of an election in Sabah state in Borneo. On Tuesday, 20 members of the executive from his ruling coalition’s largest bloc, which is led by the United Malays National Organisation (UMNO) former ruling party, pledged support for Muhyiddin and his budget. But the premier faces dissent in UMNO, whose backing remains tenuous after former leader and Prime Minister Najib Razak attempted to broker conditional support for Anwar from among the party’s lawmakers.
Persons: Muhyiddin Yassin, Lim Huey, Muhyiddin, Anwar Ibrahim, Malaysia’s, Najib Razak, Anwar, , Adib Organizations: Malaysia's, APEC, REUTERS, Reuters, United Malays National Organisation Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Sabah, Borneo
EU Official Raises Vetting Concerns Over BlackRock Contract
  + stars: | 2020-11-25 | by ( Dieter Holger | Dawn Lim | ) www.wsj.com sentiment -1.00   time to read: 1 min
A European Union watchdog said on Wednesday the bloc’s executive branch failed to properly consider potential conflicts of interest when it chose BlackRock Inc. to advise the EU on future banking regulations. “An application by a company to carry out a study meant to feed into policy that will regulate that company’s business interests should have resulted in significantly more critical scrutiny by the Commission,” said European Ombudsman Emily O’Reilly, an oversight officer.
Persons: , Emily O’Reilly Organizations: European Union, BlackRock Inc, Commission
Camila Coelho, 32, is a content creator and entrepreneur known for her presence on YouTube and Instagram as well as her eponymous fashion line. In an interview with Business Insider, Coelho talks about her fashion line and her foray into the beauty industry. Let the 32-year-old Camila Coelho tell you that it's all true — and how she pulled off a new business launch in the coronavirus era. Coelho herself has been seen at the front row of top fashion shows including Celine and Christian Dior. She had plans to launch her beauty line, Elaluz, in March, but delayed it after first the pandemic and then social unrest swept the United States.
Persons: Camila Coelho, Coelho, YouTuber, Instagram, France's Emmanuelle Koffi, Flavia Laos Urbina, Steph Ahn, Aimee Song, Chiara Ferragni, Chriselle Lim, Celine, Christian Dior, She's, Diane von Furstenberg, Elaluz, Porter Organizations: YouTube, Business, Forbes, Saks Fifth Locations: United States
SEOUL (Reuters) - South Korea’s delivery workers have fallen into what they call a “legal blind spot” and say it’s a deadly place to be as the novel coronavirus drives an unprecedented boom in online business. Most of South Korea’s 54,000 delivery workers are hired under subcontracts that deny them the safeguards and benefits regular employees get. South Korean logistics firms don’t hire delivery workers but outsource hiring to agents. The father of three takes home about $2,200, about average for South Korea’s couriers, according to a recent survey. Labour Minister Lee Jae-kap said this month delivery workers were paying the price for the explosive growth of the business and he promised help.
Persons: , Jeong Sang, subcontracts, Kim Won, jong, Kim Sam, Seo Hyung, Jeong, Yoon, Hanjin, CJ, Yun, lim, Lee Jae, kap, hasn’t, ” Lee, Kim Sang, Kim, Organizations: Labour, Transportation, CJ Logistics, Workers, Reuters, Center for Workers ’ Health, Safety, Seoul National University . Labour Locations: SEOUL, South Korea, Asia’s, Korean
"We have agreed to temporarily exclude trips destined for the cities of Sapporo and Hokkaido from the travel campaign," Economy Minister Yasutoshi Nishimura said on Tuesday. "It's going to be an extraordinary logistic challenge," David Salisbury, the British government's former director of immunization, told NBC News. 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 king, 52, has cancelled his public appearances during the quarantine period after the person tested positive on Monday, one day after they were in close contact, the source added.
Persons: Yoshihide, Yasutoshi Nishimura, David Salisbury, Stefan Lofven's, Lim Huey Teng, Noor Hisham Abdullah, King Felipe, Andres Ballesteros, King Felipe VI, Letizia Organizations: Japan, NBC, quarantines, Reuters, Covid, Royal, France Locations: Japan, TOKYO, COVID, Sapporo, Hokkaido, British, England, Germany, Swedish, STOCKHOLM, Covid, Sweden, Spain, Malaysia, Klang , Malaysia, Reuters Malaysia, Thailand, China, Vietnam, Europe, North America, Oviedo
Japan pauses domestic travel push in two cities as Covid spreads
  + stars: | 2020-11-24 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +5 min
SEE NEW POSTSJapan pauses domestic travel push in two cities as Covid spreads TOKYO - Japan paused its domestic "Go To Travel" promotion campaign in two cities following sharp rises in COVID-19 infections, a government minister said on Tuesday, a blow to Prime Minister Yoshihide Suga's plan to help prop up regional economies. Critics of the program had said it risked spreading the infection from major cities to the countryside. "We have agreed to temporarily exclude trips destined for the cities of Sapporo and Hokkaido from the travel campaign," Economy Minister Yasutoshi Nishimura said on Tuesday. 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 king, 52, has cancelled his public appearances during the quarantine period after the person tested positive on Monday, one day after they were in close contact, the source added.
Persons: Yoshihide, Yasutoshi Nishimura, David Salisbury, Stefan Lofven's, Lim Huey Teng, Noor Hisham Abdullah, King Felipe, Andres Ballesteros, King Felipe VI, Letizia Organizations: Japan, NBC, quarantines, Reuters, Covid, Royal, France Locations: Japan, TOKYO, COVID, Sapporo, Hokkaido, British, England, Germany, Swedish, STOCKHOLM, Covid, Sweden, Spain, Malaysia, Klang , Malaysia, Reuters Malaysia, Thailand, China, Vietnam, Europe, North America, Oviedo
SEE NEW POSTSCreating a Covid-19 vaccine is only the first step. "It's going to be an extraordinary logistic challenge," David Salisbury, the British government's former director of immunization, told NBC News. The change will bring the rules governing quarantines in England more in line with other European countries, including Germany. 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 king, 52, has cancelled his public appearances during the quarantine period after the person tested positive on Monday, one day after they were in close contact, the source added.
Persons: David Salisbury, Stefan Lofven's, Lim Huey Teng, Noor Hisham Abdullah, King Felipe, Andres Ballesteros, King Felipe VI, Letizia Organizations: NBC, quarantines, Reuters, Covid, Royal, France Locations: British, England, Germany, Swedish, STOCKHOLM, Covid, Sweden, Spain, Malaysia, Klang , Malaysia, Reuters Malaysia, Thailand, China, Vietnam, Europe, North America, Oviedo
South Korea toughens Covid-19 restrictions as cases continue to surge
  + stars: | 2020-11-24 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +7 min
SEE NEW POSTSSouth Korea toughens Covid-19 restrictions as cases continue to surge Diners sit in a restaurant in the Yeonnam district of Seoul on Sunday. The country has reported 31,353 coronavirus cases since the start of the pandemic, with 510 deaths — far fewer than in the U.S. or Europe. Share this -Creating a Covid-19 vaccine is only the first step. The cases are the country’s largest active cluster and its second largest since the start of the pandemic. Spain, one of the epicenters of the early outbreak in Europe, has registered more than 1.58 million coronavirus cases since the pandemic began, western Europe’s second highest tally after France, and 43,131 deaths.
Persons: Korea toughens, Ed Jones, Jeong Eun Kyeong, Yoshihide, Yasutoshi Nishimura, David Salisbury, Stefan Lofven's, Lim Huey Teng, Noor Hisham Abdullah, King Felipe, Andres Ballesteros, King Felipe VI, Letizia Organizations: Getty, Disease Control, Prevention Agency, Japan, NBC, quarantines, Reuters, Covid, Royal, France Locations: Korea, Yeonnam, Seoul, AFP, U.S, Europe, Japan, TOKYO, COVID, Sapporo, Hokkaido, British, England, Germany, Swedish, STOCKHOLM, Covid, Sweden, Spain, Malaysia, Klang , Malaysia, Reuters Malaysia, Thailand, China, Vietnam, North America, Oviedo
Ohio shatters its single-day case record, U.S. counts its 20th day of 100,000-plus cases Ohio broke its single-day Covid-19 case record of 8,808 set Friday, reporting 11,885 cases Monday. The country's daily case average for the last week has been 171,820 cases per day, more than double the 84,718 per-day average four weeks ago. Other states setting single-day records Monday: Connecticut with a record 5,271 coronavirus cases*Kansas with 7,526 cases*Rhode Island with 2,572 cases*Virginia with 3,242 casesWyoming with 1,262 cases and 26 dead * These states didn't record cases over the weekend. Share this -South Korea toughens Covid-19 restrictions as cases continue to surge Diners sit in a restaurant in the Yeonnam district of Seoul on Sunday. The country has reported 31,353 coronavirus cases since the start of the pandemic, with 510 deaths — far fewer than in the U.S. or Europe.
Persons: South Korea toughens, Ed Jones, Jeong Eun Kyeong, Yoshihide, Yasutoshi Nishimura, David Salisbury, Stefan Lofven's, Lim Huey Teng, Noor Hisham Abdullah Organizations: Ohio, NBC, Getty, Disease Control, Prevention Agency, Japan, quarantines, Reuters, Covid Locations: Connecticut, Kansas, Rhode, Virginia, Wyoming, South Korea, Yeonnam, Seoul, AFP, Korea, U.S, Europe, Japan, TOKYO, COVID, Sapporo, Hokkaido, British, England, Germany, Swedish, STOCKHOLM, Covid, Sweden, Spain, Malaysia, Klang , Malaysia, Reuters Malaysia, Thailand, China, Vietnam, North America
Danish zoo puts Santa inside snow globe to keep him Covid-safe
  + stars: | 2020-11-24 | by ( Nbc News | ) www.nbcnews.com + 0.00   time to read: +7 min
SEE NEW POSTSSouth Korea toughens Covid-19 restrictions as cases continue to surge Diners sit in a restaurant in the Yeonnam district of Seoul on Sunday. The country has reported 31,353 coronavirus cases since the start of the pandemic, with 510 deaths — far fewer than in the U.S. or Europe. "It's going to be an extraordinary logistic challenge," David Salisbury, the British government's former director of immunization, told NBC News. The cases are the country’s largest active cluster and its second largest since the start of the pandemic. Spain, one of the epicenters of the early outbreak in Europe, has registered more than 1.58 million coronavirus cases since the pandemic began, western Europe’s second highest tally after France, and 43,131 deaths.
Persons: Korea toughens, Ed Jones, Jeong Eun Kyeong, Yoshihide, Yasutoshi Nishimura, David Salisbury, Stefan Lofven's, Lim Huey Teng, Noor Hisham Abdullah, King Felipe, Andres Ballesteros, King Felipe VI, Letizia Organizations: Getty, Disease Control, Prevention Agency, Japan, NBC, quarantines, Reuters, Covid, Royal, France Locations: Korea, Yeonnam, Seoul, AFP, U.S, Europe, Japan, TOKYO, COVID, Sapporo, Hokkaido, British, England, Germany, Swedish, STOCKHOLM, Covid, Sweden, Spain, Malaysia, Klang , Malaysia, Reuters Malaysia, Thailand, China, Vietnam, North America, Oviedo
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
South Korea's COVID third wave may be largest if not curbed, says official
  + stars: | 2020-11-21 | by ( Joyce Lee | ) www.reuters.com sentiment -0.99   time to read: +2 min
A couple wearing masks stand at a street amid the coronavirus disease (COVID-19) pandemic in Seoul, South Korea, November 20, 2020. REUTERS/Heo RanSEOUL (Reuters) - South Korea grappled with a resurgence in COVID-19 cases on Saturday, as a senior official warned it could be the country’s largest wave of infections if the spread is not quickly contained. The Korea Disease Control and Prevention Agency reported 386 new daily coronavirus cases as of midnight on Friday, bringing total infections to 30,403, with 503 deaths. New cases topped 300 for the fourth day in a row, after Tuesday saw the highest since August. The Seoul metropolitan region recorded 262 new cases on Friday, up from 218 cases on Thursday.
Persons: Ran, , Lim Sook, Lim, Chung Sye Organizations: REUTERS, Korea Disease Control, Prevention Agency, Health Locations: Seoul, South Korea, Ran SEOUL, Korea
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
As head of "quantamental" investments, Lim uses both broad quantitative data and deep qualitative analysis from her (human) colleagues to make decisions. Transcript has been edited for clarity and length:Business Insider: Can you start by explaining how quantitative investing is different from fundamental investing? Business Insider: Is it too bold to say that quantitative investing is the future while fundamental investing is the past? So fundamental investing — the direct input of human analysis or decision-making — is here to stay. Therefore I believe the space between pure quantitative and fundamental investing will become a smoother spectrum, rather than one dominating the other.
Persons: Antonia Lim, Lim, Lim —, , I've, quant, Schroders, Young Organizations: Quantamental Investments, Business, Schroders, Barclays, Computers, Barclays UK, Systematic Investments, Finance Locations: Schroders, Europe
President-elect Joe Biden's triumph over incumbent President Donald Trump has proved a boon for U.S. investors as markets celebrated a return to some certainty last week. Asian stocks jumped last week on news of the former vice-president's win. Improved U.S.-China relationsPerhaps most consequential to international markets under a Biden administration will be a reset to U.S.-China relations. If Biden can adopt a more relaxed policy ... many industries in eastern Asia, not only China, will benefit. Lintao Zhang | Getty Images News | Getty ImagesIn a note released last month, the investment research firm said Asian stocks could be undervalued by around 7%.
Persons: Joe Biden's, Donald Trump, Biden, Freddy Lim, Trump, Lim, Reo Liao, Liao, Lorraine Tan, Joe Biden, Lintao Zhang, Tan, Morningstar, Sun Hung Kai, StashAway Organizations: Biden, CNBC, U.S, Consumer, Asia, Getty, Trust, Tech, SK Hynix Locations: Asia, Japan, Singapore, China, St, Regis Beijing, Beijing, Hong Kong, CapitaLand
South Korea reports 205 coronavirus cases, above 200 for first time since Sept
  + stars: | 2020-11-14 | by ( Heekyong Yang | ) www.reuters.com sentiment -0.99   time to read: +2 min
SEOUL (Reuters) - South Korea reported 205 new coronavirus cases as of Friday midnight, rising above 200 for the first time since September, the Korea Disease Control and Prevention Agency (KDCA) said on Saturday. Women pose for photographs in front of maple leaves on a late autumn day amid the COVID-19 pandemic at a park in Seoul, South Korea, November 13, 2020. More than 65% of the locally transmitted cases were from Seoul and Gyeonggi province, a densely populated region near the capital. South Korea began fining people who fail to wear masks in public on Friday, when it reported 191 new coronavirus cases, with daily infections continuing to creep higher. Confirmed daily cases have averaged 122.4 this week, jumpingfrom 88.7 last week and 75.3 in the fourth week of October, according to the KDCA.
Persons: Kim Hong, Moon Jae, Moon, , Lim Sook, Yonhap Organizations: Korea Disease Control, Prevention Agency, REUTERS, South Korea Locations: SEOUL, South Korea, Korea, Seoul, Gyeonggi, South, Korean
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
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