Latest news with #FinanceMinister
CTV News
7 hours ago
- Business
- CTV News
Champagne says Canada won't pause digital services tax
Minister of Finance and National Revenue Francois-Philippe Champagne rises during Question Period on Parliament Hill in Ottawa, Monday, June 2, CANADIAN PRESS/Adrian Wyld OTTAWA — Finance Minister François-Philippe Champagne says Canada is going ahead with its digital services tax on big tech companies that is set to take effect on June 30. Pressure has mounted on Ottawa to put the tax on hold ahead of trade discussions with the U.S. More coming. The Canadian Press
Malay Mail
12 hours ago
- Business
- Malay Mail
Anwar: No RON95 price hike despite global oil surge, Iran-Israel conflict
ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim said the government would not raise the price of RON95 petrol following the increase in global oil prices and the ongoing conflict between Iran and Israel. He said the decision was taken because of its impact on the people and the country's economy. 'Price fluctuations for oil are a common feature, but the latest spike was particularly abrupt and was triggered by the recent Israeli military assault on Iran. 'Previously, oil prices were low, but the increase this time has been quite sharp. The recent price hike is partly due to increased demand and also contributes to national revenue,' he told reporters after attending a close-door Johor PKR leadership event held at the Mall of Medini here today. Anwar attended in his capacity as the PKR president. Anwar, who is also the finance minister, assured that there would be no immediate changes to domestic oil prices. He said that any future price adjustments would be made after taking into account the needs and financial capacity of the people. Previously, it was reported that oil prices could soar to US$130 (RM553) per barrel if Iran decides to close the Strait of Hormuz. Tehran was considering closing the strait in response to the Israeli attack. The strait handles 20 per cent of global oil shipments and 80 per cent of oil and liquefied natural gas (LNG) trade for Iran, Saudi Arabia and the United Arab Emirates (UAE). On a separate matter, Anwar denied that he knew the names of three senior policemen whose names will be presented to the Yang di-Pertuan Agong, Sultan Ibrahim Sultan Iskandar for the next Inspector-General of Police (IGP). He said that he will have to check. Earlier today, it was reported that the names of three IGP candidates to replace Tan Sri Razarudin Husain have been sent to Istana Negara. Razarudin will end his contract on June 22 after two years at the helm of the country's police force. It is understood that the three names mentioned are Deputy Inspector-General of Police, Tan Sri Ayob Khan Mydin Pitchay; Internal Security and Public Order Department director Datuk Seri Azmi Abu Kassim and Special Branch director Datuk Seri Mohd Khalid Ismail.
Malay Mail
12 hours ago
- Business
- Malay Mail
Govt to clarify expanded SST, won't burden M40 or lower-income groups, says PM Anwar
ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim said the government will provide a more detailed explanation regarding the expanded Sales and Service Tax (SST), which will take effect on July 1. He acknowledged that there was confusion regarding the expanded tax and the government aims to ensure that its implementation will be done in a targeted manner. 'I agree that the government needs to give an explanation and to clarify the matter. 'What is important is that we do not want to burden the lower-income groups or the M40,' he told reporters after attending a close-door Johor PKR leadership event held at the Mall of Medini here today. The prime minister attended in his capacity as the PKR president. Anwar, who is also the finance minister, explained that previous general statements on the expanded SST had also caused some confusion. He gave an example of a statement saying that bananas were soon subjected to the SST, but clarified that this only applied to imported bananas. 'This issue has created some confusion where the public argued that even the poor consume fruits. 'This is an area where the government can address to the public in addition to making one or two changes,' he said. Anwar said taxation was an important feature for the government as it will see to better schools and public hospitals. 'We have to think of where the government can get funds to maintain public hospitals with better facilities and improved school buildings,' he said, adding that such taxes are mainly for those that are in the higher income bracket and foreigners.
Reuters
2 days ago
- Business
- Reuters
Thailand minister to propose $3.4 bln stimulus projects to cabinet next week
BANGKOK, June 18 (Reuters) - Thailand's finance minister said on Wednesday he would propose projects worth 110 billion baht ($3.4 billion) to the cabinet next week, as the government looks to boost the economy. The projects are expected to boost GDP growth by 0.4 to 0.5 percentage points, Pichai Chunhavajira told a press conference. ($1 = 32.60 baht)
Reuters
3 days ago
- Business
- Reuters
Indonesia books preliminary $4.9 bln trade surplus in May, finance minister says
JAKARTA, June 17 (Reuters) - Indonesia posted a trade surplus of $4.9 billion in May based on preliminary customs data, the finance minister said on Tuesday, which would be the country's biggest monthly surplus in more than two years. Exports from the resource-rich country reached $25.3 billion, while imports were $20.4 billion, Sri Mulyani Indrawati told a press conference. Statistics Indonesia is due to release final data on July 1. If the figures don't change, the May surplus would be the widest since February 2023, based on LSEG data. April's surplus was $160 million. Sri Mulyani said while the trade figures looked good, trade tensions and slowing global growth have influenced exports and would also affect growth in Southeast Asia's biggest economy. Strong growth was seen in May exports of agricultural products and manufactured goods, but there was also a steep drop in shipments of mining products, which hurt government revenues, Sri Mulyani said. Indonesia ran a budget deficit of 21 trillion rupiah ($1.29 billion) in the first five months of 2025, equal to 0.09% of GDP, the ministry data showed. Revenues in the January-May period reached 995.3 trillion rupiah, while total spending stood at 1,016.3 trillion rupiah. That compares with a deficit of 0.1% of GDP in the same period of 2024, with revenues at 1,123.5 trillion rupiah and spending at 1,145.3 trillion rupiah. ($1 = 16,275 rupiah)
