Round-the-clock breaking news from Malaysia.
Malaysia's agriculture ministry is accelerating efforts to reduce dependence on imported agricultural inputs by boosting domestic production capacity, citing lessons from recent global conflicts and supply chain vulnerabilities that threaten food security.
Shell has reported a 70 per cent increase in first-half earnings to US$16.75 billion, with oil traders benefiting from extreme price volatility stemming from geopolitical tensions in the Middle East.
Audi has substantially reduced its 2024 financial guidance, citing deteriorating conditions in China and escalating Middle Eastern tensions. The Volkswagen subsidiary expects revenues between €58–63 billion, down from prior guidance of €63–68 billion.
Malaysia's plan to establish a national petroleum reserve has won backing from energy analysts, who argue that escalating geopolitical tensions and shipping disruptions across critical maritime corridors make energy security planning essential for the region.
Malaysia's Economy Minister Akmal Nasrullah has cautioned the nation against complacency over Iran's renewed closure of the Strait of Hormuz, warning of cascading economic impacts on oil prices, shipping costs, and supply chains.
South Korea's stock market halted trading for 20 minutes after the KOSPI index dropped sharply on renewed US-Iran tensions centred on the Strait of Hormuz. It was the seventh circuit breaker activation this year.
The Philippines is urging ASEAN to strengthen maritime security across critical shipping routes including the Strait of Malacca and South China Sea, warning that disruptions could destabilise regional economies and supply chains.