Budget 2021 was formulated with a balancing act in mind, a treasury official said today, adding that it is important for the government to spend on development expenditure to stimulate new growth in the country.

Budget 2021 formulated with balancing act in mind — MoF

The government is allocating RM322.5 billion for Budget 2021, or 20.6% of the country’s gross domestic product, higher than the previous year’s allocation of RM297 billion.

Operating expenditure (OE) will account for 73.3%, or RM236.5 billion of the government’s expenditure, while development expenditure (DE) will be at RM69 billion or 21.4% of the Budget. On top of that, there is a new item — another RM17 billion or 5.3% of the amount will be reserved for the COVID-19 Fund.

Government to allocate RM322.5b in Budget 2021

Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.

Genting Singapore keen on UAE casino resort development

Singapore’s government is closely tracking a new wave of Covid-19 infections in the island-nation after the estimated count of weekly cases nearly doubled in the week ended May 11.

Singapore monitoring new Covid wave as infections rise 

Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.

Slowing inflation primes G7 central banks for June

China is prepared to take countermeasures against the European Union if it continues a series of anti-subsidy investigations into Chinese companies, according to a post on a state-media affiliated social media account.

China state media warns of retaliation on EU subsidy probes

Republican presidential candidate Donald Trump pledged to unravel gun regulations put in place by Democratic President Joe Biden during a lengthy speech to the National Rifle Association on Saturday, during which he accepted the influential group's endorsement.

Trump pledges to 'roll back' Biden gun rules, fire ATF chief at NRA rally

Israeli war cabinet minister Benny Gantz demanded on Saturday that Prime Minister Benjamin Netanyahu commit to an agreed vision for the Gaza conflict that would include stipulating who might rule the territory after the war with Hamas.

Israel's Gantz demands Gaza day-after plan by June 8, threatens to quit cabinet

OSK Property Holdings Bhd, the property arm of OSK Holdings Bhd (KL:OSK), has been focusing on expanding its land bank and has lined up projects to the tune of RM1.7 billion in gross development value for 2024.

Expanding OSK Property’s footprint

The thing with addiction is that you don’t know when it’s becoming a problem. You don’t really realise you have a problem or are in dire need of help. It’s very rare that people willingly seek support to overcome their addictions,” says Prof Dr Prem Kumar Shanmugam, founder and CEO of Solace Asia, Malaysia’s premier private rehabilitation centre.

Quantum of solace

Liverpool's outgoing manager Jurgen Klopp has never been one for social media but he took the plunge on Saturday ahead of his final game in charge, instantly becoming an Instagram hit when he racked up a million followers.

Klopp earns a million Instagram followers within hours

Ukraine said Russian shelling targeted civilians in two cities in the northeastern region of Kharkiv on Saturday while President Volodymyr Zelenskiy reported successes by troops fighting a renewed Russian assault there.

Ukraine says Russian shelling targets civilians in Kharkiv region