Iran has warned global markets to prepare for oil at US$200 per barrel , escalating rhetoric as attacks intensify and shipping through the Strait of Hormuz remains effectively frozen. While oil prices have retreated from recent highs near US$120, Tehran’s message underscores the growing risk of a prolonged energy shock. Key Takeaways Iran warns oil could surge to US$200 per barrel Strait of Hormuz remains blocked, disrupting 20% of global oil flows 14 merchant ships reportedly struck since conflict began IEA expected to propose record 400 million-barrel reserve release Markets currently betting conflict may be contained Oil Market on Edge Iran’s military command said oil prices depend on regional security — warning the world to prepare for US$200 crude if instability persists. The Strait of Hormuz, a narrow chokepoint along Iran’s coast, normally handles: About 20% of global oil shipments A significant share of global LNG trade So far: At least 14 ships have reportedly been struck...
It has been more than a week since the Prime Minister of Malaysia, Dato' Seri Najib Tun Razak has tabled the 2011 budget for the nation. The 2011 Malaysia Budget is based on the theme Transformation Towards a Developed and High-Income Nation. The budget might seems ambition, but does it really relevant to most of the rakyat (citizen) of Malaysia?
From the long list of the Malaysia Budget for the Year 2011: Transformation Towards a Developed and High-Income Nation, there are actually few things that is actually relevant to us. True that some of the construction work like the construction of the highways or greater KL MRT will provide better transportation system in the near future, but will it really ease the burden or the citizen? We are not sure about that.
Anyway, back to the topic What Does the Malaysia 2011 Budget Has In Store for Us, one of the thing that I see that most Malaysians might be anticipating is the introduction of GST (Goods and Services Tax), but the government has choose to postpone the introduction of GST. This might be a political play, however, the government has increased the current service tax rate from 5% to 6%. It is surprise to see that when the Government "promise" the rakyat the GST rate will be lower, the Government actually defers it and increase the current service tax.
Toll rates will not be increased over the next five years which seems like a good news to most Malaysians, especially those staying in KL area, but this will also mean that it is the Government using the taxpayers' money for this subsidy although I do not see any justification for PLUS to keep raising the toll rates every now and then? Or the Government will push towards PLUS privatisation? We never know.
There are actually other goodies that is in store for us in this budget which I will discussed in the next post, but overall it seems to me that this is just another budget like others from previous years.
From the long list of the Malaysia Budget for the Year 2011: Transformation Towards a Developed and High-Income Nation, there are actually few things that is actually relevant to us. True that some of the construction work like the construction of the highways or greater KL MRT will provide better transportation system in the near future, but will it really ease the burden or the citizen? We are not sure about that.
Anyway, back to the topic What Does the Malaysia 2011 Budget Has In Store for Us, one of the thing that I see that most Malaysians might be anticipating is the introduction of GST (Goods and Services Tax), but the government has choose to postpone the introduction of GST. This might be a political play, however, the government has increased the current service tax rate from 5% to 6%. It is surprise to see that when the Government "promise" the rakyat the GST rate will be lower, the Government actually defers it and increase the current service tax.
Toll rates will not be increased over the next five years which seems like a good news to most Malaysians, especially those staying in KL area, but this will also mean that it is the Government using the taxpayers' money for this subsidy although I do not see any justification for PLUS to keep raising the toll rates every now and then? Or the Government will push towards PLUS privatisation? We never know.
There are actually other goodies that is in store for us in this budget which I will discussed in the next post, but overall it seems to me that this is just another budget like others from previous years.
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