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Malaysia and Singapore to Boost Cybercrime Cooperation in Cross-Border Crime Agreement

Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
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UK to Cut BOE’s Cash Buffer to Provide Taxpayer Savings Amid Bond-Buying Program Changes

The Bank of England (BOE) will reduce the cash buffer it holds against losses as it scales back its quantitative easing (QE) bond-buying program. Officials said this move aims to deliver better "value for money" for taxpayers.

BOE Governor Andrew Bailey and Chancellor of the Exchequer Rachel Reeves agreed on the adjustments, which follow a reduction in the Asset Purchase Facility (APF) from £895 billion to £655 billion since early 2022. This reduction potentially offered Reeves additional budgetary flexibility for the recent budget plan on October 30.

Background: The BOE initially implemented QE to support economic growth after the 2008 financial crisis and 2020 pandemic, acquiring bonds that have now resulted in projected lifetime losses between £50 billion and £100 billion. Although QE generated a £123 billion profit when interest rates were near zero, it started to incur losses once rates surpassed 2% in 2022.

Reeves confirmed that the cash management framework for the APF will be continuously reviewed to meet government objectives efficiently. Bailey added that the new arrangement adjusts the buffer to match expected outflows without altering the program's lifetime financial position.

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