Business

Malaysia saw RM123.3 billion in approved investments from January to June 2022, with foreign direct investments contributing 70.9% and the services sector leading at 63.3%. The investments are expected to create 57,771 job opportunities across manufacturing, services, and primary sectors.

Arizona Governor Doug Ducey celebrated Taiwan Semiconductor Manufacturing Corp's $12 billion investment in the state during a meeting with Taiwanese President Tsai Ing-wen. The investment underscores growing economic ties between Taiwan and the US in the semiconductor industry, amid increasing tensions with China.

The International Monetary Fund has reached a preliminary agreement to provide Sri Lanka with $2.9 billion over four years. The package aims to help the country recover from its worst economic crisis, contingent on approval from IMF management and assurances from key creditors like China, India, and Japan.

- President Biden visits Iowa to announce waiving ethanol blending restrictions, aiming to reduce gasoline prices by around 10 cents per gallon. This move is part of his strategy to combat inflation, which reached 8.5% in March, the highest rate since 1981.- EXCERPT: Condensed 100-word summary providing context and key information

President Biden is set to speak with Prime Minister Narendra Modi amid growing pressure on India's neutral position in the Russia-Ukraine war. India's abstention from UN votes and diplomatic approach have drawn both criticism from the US and praise from Russia's Foreign Minister Sergey Lavrov.

Standard & Poor's has downgraded Russia's credit rating to "selective default" after Russia attempted to pay foreign bond payments in rubles instead of dollars. The agency believes sanctions will further impede Russia's ability to meet its international debt obligations, increasing the likelihood of a historic default on external loans.

SpaceX successfully launched three wealthy businessmen to the International Space Station on a groundbreaking private charter flight, marking a new era of commercial space tourism with each passenger paying $55 million for the experience.- EXCERPT: A 100-word summary highlighting the key points of the story

The UN Food and Agriculture Organization reports significant food price increases, with grains and vegetable oils reaching unprecedented levels. Russia's invasion of Ukraine has disrupted global food supply chains, potentially causing widespread hunger in Africa and the Middle East.

The European Union has banned Russian coal, marking a significant step in energy sanctions related to the Ukraine conflict. The ban, estimated to cost Russia 4 billion euros annually, demonstrates the EU's commitment to economic pressure, though challenges remain in restricting oil and natural gas imports.

Congress overwhelmingly approved suspending normal trade relations with Russia and banning oil imports. The Senate unanimously passed two bills that will now go to President Biden for signing, following his previous executive actions against Russian energy imports.