<div class=newsTextDataWrapInner>Minimum EPF contribution by employees to be reduced by 4% from 11% to 7%, with effect from Apr 1 to Dec 31, 2020. This will potentially unlock up to RM10 billion worth of private consumption. Malaysian workers have the option to opt out from the scheme and maintain their contribution rate.</div>

<div class=newsTextDataWrapInner>See also: 
<a href="https://www.theedgemarkets.com/article/government-unveils-rm20b-stimulus-package-boost-spending">Government unveils RM20b stimulus package to boost spending</a> 
<a href="https://www.theedgemarkets.com/stimulus-package-2020">Speech by Interim Prime Minister Tun Dr Mahathir Mohamad</a></div>
</div><div class=inPageAd id=div-gpt-ad-inpage>

Minimum EPF contribution by employees to be reduced by 4% from 11% to 7%, with effect from Apr 1 to Dec 31, 2020. This will potentially unlock up to RM10 billion worth of private consumption. Malaysian workers have the option to opt out from the scheme and maintain their contribution rate.

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Stimulus Package 2020: Minimum EPF contribution by employees to be reduced to 7%, effective Apr 1 to Dec 31, 2020

China will take steps to revive consumption by boosting people’s incomes, according to the official Xinhua News Agency, as part of a plan that adds to recent pledges by the government to support demand in an economy threatened by Donald Trump’s tariffs.

China maps out plan to raise incomes and boost consumption

Oil prices opened about 1% higher on Monday after the US vowed to keep attacking Yemen's Houthis until the Iran-aligned group ends its assaults on shipping.

Oil up 1% as US vows to keep attacking Houthis

Asia’s top performing currency last year is set for a bout of weakness as traders brace for a higher risk of an interest rate-cut amid trade tensions.

Ringgit bears emerge as traders weigh a rate cut in Malaysia

MORNING CALL: 17/3/25

The Australian government has estimated costs from Tropical Cyclone Alfred to be about A$1.2 billion (US$759 million or RM3.37 billion), shaving off a quarter of a percentage point from its gross domestic product in the March quarter, Australian media reported.

Cyclone Alfred to dent Australia's March-quarter GDP, treasurer will say

The Halal industry, one of the world’s fastest growing sectors in Malaysia and globally, is poised for continued growth and expansion, as it is a major contributor to Malaysia’s GDP. Initiatives like the Halal Industry Master Plan 2030 (HIMP 2030) aims to make Malaysia a global Halal hub, fostering robust domestic Halal sectors and attracting international investment. Through the HIMP 2030, Malaysia’s Halal industry is projected to contribute 11% to the country’s GDP in 2030, from 7.4% in 2018. The Halal GDP value, which stood at USD28 billion in 2018, is projected to reach USD58.5 billion by 2030, reflecting a robust CAGR of 5.8%. To also note, confidence of international markets in JAKIM’s comprehensive Halal certification system has led to an increase in Halal product exports.

Strengthening the Halal Economy Proposition: Opportunities and Strategies

The world has entered a data-driven era, where individuals and organisations must adapt to remain competitive. Accurate data modelling, the strategic use of artificial intelligence (AI) as a tool rather than a replacement, and strong critical thinking skills are essential for interpreting and applying data-driven insights effectively. With vast amounts of data generated daily, professionals in analytics need expertise in identifying trends, uncovering patterns and making informed, evidence-based decisions that drive innovation and efficiency across industries.

Building a more trustworthy world with data: Why BSM is your next BIG step

An anxious sense of wait-and-see may emerge from central banks in the coming week, in their first collective assessment of how President Donald Trump’s trade policies are impacting the world economy.

Trump’s trade salvos test nerves of central bankers

Li Shufu, the billionaire behind one of the world’s largest automobile empires, has been doing some soul-searching.

Geely billionaire goes on a cost-cutting spree to catch rivals

The UK is set to begin trade talks with the Philippines after the Asian nation agreed to lift an import ban on British beef and poultry products.

UK poised for trade talks with Philippines after beef ban lifted

Li Shufu, the billionaire behind one of the world’s largest automobile empires, has been doing some soul-searching.

A relief rally in global stocks is expected to gather pace in Asia after China said it would take steps to revive consumption in the world’s second largest economy.

Asia to extend stock rally on new China stimulus measures

KUALA LUMPUR (March 16): The "major reshuffle" of the Democratic Action Party (DAP) Central Executive Committee (CEC) was aimed at giving more leaders the opportunity to showcase their abilities, said party secretary general Anthony Loke Siew Fook.

DAP leadership’s 'major reshuffle' aims to showcase more party leaders, says Loke

SHAH ALAM (March 16): DAP&nbsp;hopes that the government would amend the Federal Constitution within the next two years, to limit the tenure of the prime minister to 10 years.

Loke: DAP wants Federal Constitution to be amended to limit PM’s tenure to 10 years

Asia’s top performing currency last year is set for a bout of weakness as traders brace for a higher risk of an interest rate-cut amid trade tensions.

PARIS (March 16): The stationing of peacekeeping troops in Ukraine, as proposed by Britain and France as part of a ceasefire agreement with Russia, is a question for Kyiv to decide and not Moscow, French President Emmanuel Macron said in an interview.

Not for Russia to decide on peacekeepers in Ukraine, Macron says

An anxious sense of wait-and-see may emerge from central banks in the coming week, in their first collective assessment of how President Donald Trump’s trade policies are impacting the world economy.

KUALA LUMPUR (March 16): Prime Minister Datuk Seri Anwar Ibrahim has urged the Economy Ministry to prioritise 10 key projects in Negeri Sembilan, particularly those related to flood mitigation.

Anwar urges focus on key projects in Negeri Sembilan, including Tuanku Jaafar Hospital 2

KUALA LUMPUR, (March 16): PKR information chief Datuk Fahmi Fadzil announced his candidacy on Sunday for the party’s vice-president post in the party elections in May. &nbsp;

Fahmi to contest PKR vice-president post

SINGAPORE (March 16): Singapore has established a taskforce to help Singaporeans and local businesses seize opportunities and reap the benefits of the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link.

Singapore sets up taskforce to seize opportunities from RTS Link

ATLANTA/BENGALURU (March 16): Tornadoes killed at least 33 people across several states in the US&nbsp;Midwest and Southeast on Saturday (March 15) night, CNN reported.

Tornadoes strike US South, killing 33 people amid rising risk, CNN says

FRANKFURT (March 16): The pay package of UBS chief executive officer&nbsp;Sergio Ermotti came in just above 15 million Swiss francs (US$17 million, or RM75.56 million) in 2024, Swiss daily Blick reported, not citing where it obtained the information.

UBS CEO Ermotti to receive US$17 mil paycheque for 2024, Swiss daily Blick reports

The UK is set to begin trade talks with the Philippines after the Asian nation agreed to lift an import ban on British beef and poultry products.

KUCHING (March 16): The interpretation of the law, including the quota of parliamentary seats in Sabah and Sarawak and the continental shelf, is expected to be finalised at the Malaysia Agreement 1963 Implementation Action Council &nbsp;(MTPMA63) this May.

MA63: Interpretation of parliamentary seat quota, continental shelf to be finalised in May — Fadillah

KUALA LUMPUR (March 16): A civil servant was arrested in Ops Outlander, an operation targeting a syndicate involved in late birth registration, on suspicion of accepting bribes ranging from RM10,000 to RM15,000 for each birth certificate issued.

Ops Outlander: Civil servant held for receiving bribes of up to RM15,000 for birth certificates

3R issues: Police to submit investigation paper to AGC on Monday&nbsp;

3R issue: Police to submit investigation paper to AGC on Monday 

The Australian government has estimated costs from Tropical Cyclone Alfred to be about A$1.2 billion (US$759 million or RM3.37 billion), shaving off a quarter of a percentage point from its gross domestic product in the March quarter, Australian media reported.

Oil prices opened about 1% higher on Monday after the US vowed to keep attacking Yemen's Houthis until the Iran-aligned group ends its assaults on shipping.

China will take steps to revive consumption by boosting people’s incomes, according to the official Xinhua News Agency, as part of a plan that adds to recent pledges by the government to support demand in an economy threatened by Donald Trump’s tariffs.