Business

The European Union and G7 allies have banned Russian diesel and refined oil products, aiming to reduce Moscow's energy income without disrupting global markets. The move targets Russia's military funding while preserving diesel supplies for critical economic sectors like transportation and agriculture.

European Union representatives arrived in Kyiv as rescue workers searched through debris from a Russian missile attack on an apartment complex in Kramatorsk, marking nearly a year since the invasion began. The attack resulted in at least three deaths and around 20 injuries.

YU Syndicate's leaders replace exposed directors at ALX Assets after being caught in a scandal involving YNH Property Bhd & Rapid Synergy Bhd.

The Biden administration warns that Russia's refusal to resume on-site nuclear treaty inspections endangers the New START pact and bilateral arms control efforts, marking a significant breakdown in diplomatic relations.

Cambodia's commerce minister Pan Sorasak reports significant trade improvements in 2022, with foreign trade value reaching $52.425 billion. Imports and exports increased by 4.32% and 16.44% respectively, leading to a 20.60% reduction in trade deficit. The ministry focuses on reforms and enhancing business environment for continued growth.

A leading Malaysian business leader anticipates increased Chinese investment will support Malaysia's transition to a low-carbon economy. Datuk Liew Chee Ming highlights potential growth in high-tech industries, particularly electric vehicle production, as Chinese economic recovery progresses.

Philippine Peso and Malaysian Ringgit lead Asian currency gains, supported by resilient U.S. economic data. Both currencies strengthen in January, with ringgit appreciating about 4% year-to-date, reflecting improved economic outlook and investor optimism.

Malaysia's total trade reached RM236.0 billion in December 2022, marking an 8.6% year-on-year increase. Exports rose 6.0% to RM131.9 billion, while imports grew 12.0% to RM104.1 billion. The country's total trade for 2022 hit a new milestone of RM2.8 trillion.

The International Atomic Energy Agency has dispatched teams to monitor Ukraine's nuclear plants, including Zaporizhzhia and Chernobyl, to ensure safety during the ongoing war. With at least 11 staff members deployed, this represents an unprecedented level of on-site monitoring.

Rapid Synergy Bhd's chairman, Yu Kuan Chon, deceived shareholders with fraudulent misrepresentation in the 2021 Annual Report. The company hid related parties to avoid a mandatory takeover offer.