Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Malaysian Prime Minister Anwar Ibrahim said on Monday his country would invest in the development of Indonesia's new capital on Borneo island, which both nations share. Anwar made his first overseas trip to Jakarta since taking office in November, saying at least 10 Malaysian companies have committed to invest in Nusantara, the new capital that was chosen in 2019 to replace Jakarta, some 2,000 kilometres (1,240 miles) away. The city of about 10 million on the densely populated main island of Java has been sinking due to environmental degradation and overcrowding. The main cause is uncontrolled groundwater extraction exacerbated by the rising levels of the Java Sea. Anwar cited the proximity of Nusantara to Malaysia's Sabah and Sarawak states and federal territories on Borneo island, saying the new capital's growth will benefit the region's economy. The first phase of development of Nusantara started in March last year, and is expected to be completed in 2045. Anwar and Indonesian
Malaysian Prime Minister Anwar Ibrahim announced on Sunday that his government will review its use of subsidies to better help those most in need
Long-time reformist leader Anwar Ibrahim was sworn in as Malaysia's prime minister Thursday and vowed to heal a racially divided nation, fight corruption and revive an economy struggling with the rising cost of living. His rise to the top a was a victory for political reformers who were locked in a battle with Malay nationalists for days after a divisive general election on Saturday produced a hung Parliament. Anwar took his oath of office in a simple ceremony at the national palace that was broadcast on national television. Malaysia's king, Sultan Abdullah Sultan Ahmad Shah, named Anwar, 75, as the nation's 10th leader after saying he was satisfied that Anwar is the candidate who is likely to have majority support. In his first news conference, Anwar said he would form a unity government comprising his Alliance of Hope that won 82 seats, the National Front with 30 seats and a bloc from eastern Sarawak state with 23 seats. He said that would give him a majority of 135 seats, with ..
Reformist opposition leader Anwar Ibrahim edged closer to become Malaysia's new prime minister after a political party agreed Thursday to support a unity government following inconclusive general elections. Any agreement must still be approved by Malaysia's king. Last Saturday's divisive election led to a hung parliament that renewed a leadership crisis in Malaysia, which had three prime ministers since 2018. Police have tightened security nationwide as social media warned of racial troubles if Anwar's multiethnic bloc wins. Anwar's Pakatan Harapan, or Alliance of Hope, topped the race with 82 parliamentary seats, short of the 112 needed for a majority. Former Prime Minister Muhyiddin's Malay-centric Perikatan Nasional, or National Alliance, won 73 seats. The alliance led by the United Malays National Organization, which has 30 seats, hold the key that will tilt the balance. UMNO reversed its decision to remain in the opposition, saying it will heed the king's proposal for a unity .
Opposition leader Anwar Ibrahim appealed to voters on Wednesday for another surprise victory when Malaysia goes to the polls later this month, as he faces challenges from a resurgence of ethnic Malay support for rival parties. Anwar's Pakatan Harapan (PH), or Alliance of Hope, won a stunning victory in 2018 and aims to repeat its success on November 19. The victory was short lived after defections caused the government to collapse in early 2020 and brought back to power the Barisan Nasional coalition led by the United Malays National Organisation. Speaking at the launch of his alliance's election manifesto, Anwar said PH is more united now after being purged of members who were not committed to its reform agenda. To save this country from endless political turmoil and corruption, I appeal to the people to give their support so that PH can emerge with a clear majority in the upcoming election," he said. Anwar didn't participate in the 2018 vote because he was in prison on a sodomy .
Anwar met the nation's king on Tuesday to show evidence that he has majority support in Parliament to form a new government and unseat Prime Minister Muhyiddin Yassin
Anwar, 70, was convicted of sodomy in 2015 in a case he said was aimed at crushing his alliance, which was making gains against Malaysia's long ruling coalition government