Saturday, November 30, 2024

Eating This Type of Food Is Now Tied to Premature Aging

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Ultra-processed foods — however delicious we may find them — have already been linked to a myriad of health problems. Here’s a new one. High ultra-processed food consumption is now associated with a “significant acceleration” of biological aging — a measure of age based on the condition of your body’s cells rather than the length of time you’ve been alive. Researchers say it reflects a person’s…



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26 Big Ideas for What to Do in Retirement

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You’ve probably spent at least a little time thinking about what to do in retirement. How will you fill your days? Where will you go? What will you do? With whom will you spend time? In retirement, you likely have more options for how to spend your time than ever before. And you certainly don’t have to settle on only one goal, hobby or pursuit. Maybe you’ll pursue painting.



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23 Holiday Items You Can Buy at Dollar Stores — and Save Big

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The holidays can be a budget-buster. And for millions of people, that can spell trouble, especially on an inflation-stretched budget. One way you can save is to head to the dollar store. You might be surprised at the items you can find at the dollar store to help you make the holidays merry and bright — and keep your wallet happy. Don’t pay more than you have to. You’ll find all of these low…



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11 Housing Markets That Finally Favor Buyers — and 17 Neutral Ones

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Home shoppers are getting an early holiday present as buyer’s markets are emerging in a handful of the top 50 metro areas by market size nationwide, according to real estate platform Zillow. In 13 metros, buyers are “jumping into the driver’s seat,” Zillow says. These places are seeing inventory levels grow. In a summary of findings, Skylar Olsen, Zillow chief economist, says: In the…



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Friday, November 29, 2024

3 Unusual but Delicious Ways to Use up Thanksgiving Leftovers

Thanksgiving recipe for turkey croquettes
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Everyone looks forward to Thanksgiving dinner with all the trimmings. And then, by Saturday, we’re all sick of those same foods. Gag me with a turkey sandwich, right? The key to leftovers is making them feel like a different meal with a new texture and flavor profile. Give leftover stuffing a crunchy panko crust — inside these yummy croquettes is a tender piece of turkey! Turn butter into a…



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Ringgit higher against US Dollar in early trade

KUALA LUMPUR: The ringgit opened higher against the US dollar in early trade today amid renewed buying interest, with investors flocking towards the local currency following the Thanksgiving holidays in the United States (US).

At 8.02 am, the ringgit was trading at 4.4350/4470 against the US dollar, strengthening from yesterday’s close of 4.4440/4490.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the US Dollar Index (DXY) has also declined from last week’s level of 107.55, hovering around 106 points.

He believed that a confluence of factors has influenced the global market sentiment, and positive development in the Middle East may potentially contribute to improvements in the currency market.

“In the meantime, market sentiment could remain lacklustre and cautious on lack of catalyst. Therefore, the ringgit could trade in a narrow range today, possibly around RM4.43 to RM4.44,” he told Bernama.

The ringgit traded lower against a basket of major currencies.

It weakened against the British pound to 5.6298/6450 from 5.6217/6280 yesterday, slipped against the euro to 4.6834/6960 from 4.6800/6852 and weakened vis-a-vis the Japanese yen to 2.9349/9431 from 2.9258/9293.

In contrast, the local unit traded better against ASEAN currencies.

It was marginally higher against the Singapore dollar at 3.3053/3147 from 3.3056/3095 at yesterday’s close and rose against the Philippine peso to 7.56/7.58 from 7.57/7.58.

The local note also went up against the Thai baht to 12.8812/9292 from 12.8999/9211 on Thursday and rose against the Indonesian rupiah to 279.4/280.3 from 279.9/280.5 previously.



Source: The Sun Daily

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6 Ways Your Next Trip to Starbucks Will Be Different

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You’re not the only one worried about your wallet. Big companies are joining the party, too. Money Talks News reviewed the recent Starbucks Fourth Quarter and Full Fiscal Year 2024 Conference Call, led by CEO Brian Niccol and Chief Financial Officer Rachel Ruggeri. And things are looking tighter at the specialty coffee retailer. Starbucks’ Q4 consolidated revenue was $9.1 billion — down 3%



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Thursday, November 28, 2024

17 American Train Trips You Can Take in a Day (or Less)

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Want to unplug and unwind? Consider leaving the car at home and taking a daylong train trip. Train trips offer fabulous views of mountains, deserts, oceans and forests, as well as cultural and historic experiences. They allow you to sit back and ponder the scenery instead of the traffic. The cost will depend on the season, route and class of train car. But discounts are often available for…



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Science Just Confirmed This Natural Remedy for UTIs

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Drinking cranberry juice has long been a popular way to prevent and combat urinary tract infections. Now, science is backing up claims made on behalf of this tonic. Those who regularly drink cranberry juice are 54% less likely to get a UTI, according to researchers at the University of Oxford, Bond University and the University of Helsinki. The researchers analyzed 20 prior studies of multiple…



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Wednesday, November 27, 2024

8 Disappointing Realities of Medicare

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For millions of people, Medicare is one of the pillars of retirement. The program provides health insurance for most Americans from the age of 65 through the rest of their lives. However, Medicare is not perfect. Some beneficiaries are surprised to learn of the program’s shortcomings. Following are some of the disappointing realities of Medicare.



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11 Services With Cheap Audiobooks

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The convenience and portability of audiobooks let you enjoy your love of reading on the go. But how do you find the audiobooks you want? There are a number of audiobook services available, but the options can be overwhelming. Finding the right audiobook service is a matter of finding the best one for how you prefer to read. Here’s our rundown of some of the best audiobook services where you…



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9 Items You Should Skip Buying on Black Friday

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It’s the craziest shopping day of the year. Black Friday, the day after Thanksgiving, features early bird sales, online deals, doorbuster goodies and more. Certain items are hot commodities on that day — there’s always a computer or television deal that seems just irresistible. But don’t jump on everything with a sale tag on it. Following is a quick list of purchases that you should avoid on…



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Tuesday, November 26, 2024

AARP Memberships Are up to 43% Off Right Now

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Advertising Disclosure: When you buy something by clicking links within this article, we may earn a small commission, but it never affects the products or services we recommend. It may not be as exciting as a new TV or phone. You probably weren’t expecting a Black Friday sale on it, either. But a discounted membership to AARP will likely save you much more money, and for several years to come…



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Monday, November 25, 2024

Is This the Real Reason Medicare Plans Do Home Visits?

A nurse explains the results of the health exam to the elderly woman at home.
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Has your Medicare Advantage plan offered to provide you with an in-home health assessment? If so, it could be that they were more concerned with their bottom line than with the quality of your care. Medicare Advantage plans used in-home health risk assessments and chart reviews to justify an estimated $7.5 billion in enhanced payments from the government in 2023, the U.S. Department of Heath and…



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3 States With New Property Tax Breaks for Veterans

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Taxes were on everyone’s mind this election season, with 36% of voters rating them as “extremely important” and another 39% rating them “very important,” according to a Gallup poll. These concerns reflected far past the presidential election. In several states, residents had the opportunity to vote on proposed property tax changes on Nov. 5 — and most of those ballot measures passed.



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Your Social Security Payment Gets Bigger on This Date

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In 2025, Social Security recipients will see their monthly checks grow by 2.5%, the smallest cost-of-living adjustment (COLA) in four years. But when exactly will you receive the first of those somewhat fatter checks? As it turns out, it generally depends on your birthdate — specifically, the number of the day on which you were born. For example, if your birthday is June 3…



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Sunday, November 24, 2024

8 Groups Who Can Expect New Tax Breaks Under Trump

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Donald Trump’s biggest campaign promises included extending the tax law he signed in 2017, which lowered many Americans’ income taxes. But he also promised to “pursue additional tax cuts” if elected. Now that he’s headed back to the White House, you might be wondering — even if you didn’t vote for him — whether you stand to benefit from those new tax breaks. So, we’ve broken down the…



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Saturday, November 23, 2024

11 Deep Discounts Available on Amazon This Friday

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Friday, November 22, 2024

Social Security Tackles Overpayment ‘Injustices,’ but Problems Remain

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In March, newly installed Social Security chief Martin O’Malley criticized agency “injustices” that “shock our shared sense of equity and good conscience as Americans.” He promised to overhaul the Social Security Administration’s often heavy-handed efforts to claw back money that millions of recipients — including people who are living in poverty, are elderly, or have disabilities — were…



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These Grocery Stores Will Give You a Free Turkey for Thanksgiving

Weis Markets store
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Looking for ways to save on Thanksgiving dinner? Several grocery stores are offering free turkey promotions to help customers stretch their holiday budgets. While each store has specific requirements, a little planning can get you a free bird with your usual grocery haul. Check out these stores with 2024 free turkey deals to see if your favorite grocer is participating.



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Thursday, November 21, 2024

3 Women Vying to Become the First Female Trillionaire Ever

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For a long time, men have dominated the list of the world’s richest people. Slowly, that is starting to change. Recently, an analysis by Informa Connect Academy — which offers global education and training solutions — looked at billionaires across the world to determine when each is likely to reach trillionaire status. The vast majority of the 28 people on the list are men…



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6 College Majors That Too Many People End up Regretting

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Earning a college degree is expensive. Millions of Americans continue to struggle to pay tens of thousands of dollars in student loan debt. To make matters worse, many workers later end up regretting the major they chose during college. Recently, the U.S. Federal Reserve Board surveyed 11,000 American adults for its latest annual Economic Well-Being of U.S. Households report.



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Wednesday, November 20, 2024

9 Super-Cool Ways AI Tools Can Make Your Life a Lot Easier

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We’ve heard claims that AI will revolutionize every facet of life, business and society. Perhaps it will someday, but revolution takes time. In the meantime, AI chatbots can be useful in small, common ways. Relying on them may not be revolutionary, but it can make certain tasks easier. Here are some ways ChatGPT, Bard, Gemini, Claude and Llama can simplify everyday life.



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3 Ways a Balance Transfer Can Slash Your Debt and Boost Your Savings

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Advertising Disclosure: When you buy something by clicking links within this article, we may earn a small commission, but it never affects the products or services we recommend. Dealing with credit card debt can feel like an uphill battle. However, a balance transfer credit card can provide relief and help you manage your finances more effectively. If you’re not familiar with how these cards…



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Conquer Your to-Do List With the Game-Changing ‘3-3-3 Strategy’

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Feeling overwhelmed by your to-do list? The ‘3-3-3 Method’ might be just what you need to regain focus and efficiency. This simple yet powerful approach, developed by Oliver Burkeman, author of Four Thousand Weeks: Time Management for Mortals, is designed to help you manage tasks without feeling buried under endless responsibilities. Here’s how it works and why it can make a big difference to…



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Walmart CFO: “We’ll Likely Raise Prices If Trump Raises Tariffs”

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Walmart Inc. is ready to raise some of its prices if President-elect Donald Trump follows through on his trade threats. Company executives discussed the potential strategy on Tuesday. Major retailers Lowe’s, Steve Madden, and e.l.f. Beauty have already publicly grappled their prices might increase or that their would-be price-slashing strategies could backfire. Though the company beat…



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Tuesday, November 19, 2024

7 Mistakes to Avoid at All Costs If You Have a 401(k)

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One of the best benefits you can receive as an employee is access to a tax-advantaged retirement plan. When you contribute to a 401(k) account, you have the chance to get more bang for your retirement buck. However, you might not end up with as much as you’d like if you make a few common mistakes. Once you open that 401(k), you want to make sure you’re taking full advantage.



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Monday, November 18, 2024

Costco Is Offering $1,000 off Hummer EVs Right Now

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Costco has you covered if you’re looking for a new — and hefty — vehicle. The retailer is currently offering its members $1,000 off on one of two different Hummer models: the GMC HUMMER EV Pickup and the GMC HUMMER EV SUV. All you have to do is visit the Costco auto site, click on the model you’re interested in, register and then present the provided certificate to any GMC dealership.



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Attention, Retirees: Florida’s Property Tax Break Just Got a COLA

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Retirees have flocked to Florida for many generations. Now, it has become an even more attractive place to spend your golden years. In the Nov. 5 election, Florida voters passed Amendment No. 5, which adds an inflation adjustment to the Sunshine State’s existing homestead exemption, a property tax break for primary homes. The change takes effect Jan. 1, 2025. Currently…



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Sunday, November 17, 2024

MSC posts RM14.29m net profit for Q3, proposes 17 sen special dividend

PETALING JAYA: Tin miner and metal producer Malaysia Smelting Corporation Bhd’s (MSC) net profit for the third quarter ended Sept 30, 2024 (Q3’24) increased 20.88% to RM14.29 million from RM11.82 million in Q3’23.

Revenue for the quarter under review increased 29.14% to RM470.05 million from RM364.02 million in Q3’23.

The growth was driven by higher average tin prices of RM141,500 per tonne and increased sales of refined tin.

In line with favourable tin prices, the group’s tin mining segment recorded a 26.1% year-on-year (y-o-y) increase in net profit to RM22.5 million during the quarter from RM17.9 million a year ago.

Meanwhile, the tin smelting arm was affected by foreign exchange losses resulting from the ringgit’s appreciation against the US dollar between August and September 2024, compounded by lower smelting performance. This resulted in a net loss of RM10.3 million during the quarter, against a net loss of RM2.7 million in Q3’23.

For the nine months of FY24 (9M’24), MSC’s revenue grew by 20.6% y-o-y to RM1.24 billion, from RM1.03 billion in 9M’23, fuelled by more favourable tin prices of RM140,100 per tonne and higher sales volume of refined tin.

The tin mining segment posted a higher net profit of RM61.7 million on the back of higher tin prices.

Nonetheless, the tin smelting division recorded a net profit of RM4.3 million, impacted by various factors, including lower incoming feed for smelting, reduced sales of refined tin from processed tin intermediates, and foreign exchange losses.

As a result, the group’s net profit contracted to RM49.2 million in 9M’24, against RM75.7 million in the prior year.

MSC group CEO Datuk Dr Patrick Yong said that despite the challenges posed by the global economic environment, the company remains steadfast in building a more resilient business through operational improvements and strategic investments in mining and smelting businesses.

“For our tin smelting division, we are working to address these challenges and are confident in our long-term strategy. Moreover, the recent conclusion of the US 2024 presidential election and the strengthening of the US dollar against the ringgit provide a more stable backdrop for our operations.”
For the tin smelting business, Yong said, the group is on track to phase out the old smelting plant at Butterworth, Penang, which is on track for full closure by 2025.

“We expect to benefit from an approximate 30% in cost savings from the planned closure and from the efficient Top Submerged Lance furnace technology in the Pulau Indah smelting facility, which will lower operational and manpower costs and reduce our overall carbon footprint.

“For our tin mining segment, we will continue to focus on improving and increasing our daily mining output and enhancing our overall mining productivity. This includes expanding our mining activities and mine resources, adopting new cost-effective mining methodology and participating in new mining joint ventures,“ he said.

For Q3’24, the board has proposed a second interim single-tier special dividend of 17 sen per share for a total dividend payout of RM71.4 million. This follows the first interim single-tier dividend of 7 sen per share declared on Sept 25, which amounts to a dividend payout of RM29.4 million.



Source: The Sun Daily

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Selangor expects RM2.35 billion revenue next year

KUALA LUMPUR: Selangor is aiming to achieve revenue of RM2.35 billion next year, an increase of RM150 million compared to this year’s estimate, said Selangor Menteri Besar Datuk Seri Amirudin Shari.

He said revenue collection this year has reached RM2.43 billion as of November, surpassing the estimate of RM2.2 billion for 2024.

“For this year, we estimated RM2.2 billion. However, as of November 2024, we have already recorded RM2.4 billion,“ Amirudin told reporters at the Selangor International Business Summit 2024 Appreciation Dinner on Friday.

He said the growth in 2025 will be driven by the state’s newly introduced Zero Discharge Policies and Polluters Pay Principle.

“These initiatives are expected to contribute between RM72 million and RM80 million to the state’s income.”

When presenting the state budget earlier, Amirudin emphasised the importance of everyone in the Selangor government, businesses and society in understanding the potential, capacity and risks of artificial intelligence (AI).

“Rather than viewing artificial intelligence as a looming threat, we should approach it as a powerful force that we must harness. By doing so, we can ensure that AI’s benefits work in humanity’s favour, enhancing the quality of life for every Selangorean,“ he said.

“As industry practitioners, finding a way where workers are at the heart of your development philosophy is paramount.

“I am not suggesting that profits are unimportant; indeed, they are the cornerstone of the capitalist economy in which we live. However, we must be cautious not to fall into the pitfalls identified by economist Daron Acemoglu in his book Why Nations Fail, co-authored with James A Robinson, where he outlines the critical factors that lead to the failure of nations,“ he said.

Amirudin assured that the Selangor government is ready to work hand-in-hand to reap the benefits of new technology, increase the productivity of each worker, and increase the government’s efficiency through AI.

“That was the guiding philosophy of why I launched the Speed Selangor Policy, which will kick off next year, to reduce the processing and wait times businesses currently face when dealing with aspects like the planning permission or acquiring your business licence after receiving approval of your certificate for completion and compliance (CCC),“ he said.

Selangor aims for local authorities to provide business licences within 24 hours of ticking all the CCC boxes beginning next year.

Amirudin said Selangor also has ambitious targets in the field of semiconductors.

With a sizeable investment for 2025, it aims to attract more companies from China and Taiwan to call Selangor their new home, especially in the design phase of integrated circuits.

“These two are just some of the areas we are looking to expand and should be given requisite focus in next year’s Selangor International Business Summit (SIBS).”

One of the big components that will be fundamental to SIBS 2025 is Visit Selangor Year, which coincides with Malaysia’s chairmanship of Asean.

“Now is the time to leverage our networks and strengthen existing relationships. If there is a company you have interacted with in the past but hesitated to invest in Selangor, reach out to them.

“Initiate a conversation, arrange a meeting, and identify a location that would be ideal for their operations.

“Remind them of our Soft Landing Incentive, which allows them to bring their team and take full advantage of the co-working spaces available,“ Amirudin said.

Looking ahead, he said SIBS’s next focus will be on promoting high-growth sectors, embracing technological innovation, and cultivating a highly skilled international workforce capable of meeting the evolving demands of global industries.

SIBS 2025 will return to the all-in-one format and will be held in a single week, from October 8 to 11, at the Kuala Lumpur Convention Centre.



Source: The Sun Daily

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5 Ways Home Shopping (and Selling) Has Radically Changed Since COVID

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After dominating lives around the world for a few years, the COVID-19 pandemic has largely slipped off the radar for most of us. But its legacy lives on in many places, including the U.S. housing market. The pandemic set forces in motion that significantly changed how Americans buy and sell homes. As a result, housing trends and the transaction process itself today look quite different from how…



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Saturday, November 16, 2024

Money in a Minute for the Week Ending Nov. 15

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Every weekend, I recap “news you can use” from the week — a handful of quotes from major (and often expensive) news sources — so you can stay up to date on the news that affects your money without spending a dime and in less than a minute. Here’s an overview of what happened this week. OpenAI, Google and Anthropic Are Struggling to Build More Advanced AI (Nov. 15, Bloomberg): The companies…



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11 Deep Discounts Available on Amazon This Friday

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Friday, November 15, 2024

9 Items You Should Skip Buying on Black Friday

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It’s the craziest shopping day of the year. Black Friday, the day after Thanksgiving, features early bird sales, online deals, doorbuster goodies and more. Certain items are hot commodities on that day — there’s always a computer or television deal that seems just irresistible. But don’t jump on everything with a sale tag on it. Following is a quick list of purchases that you should avoid on…



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A House Renter’s Guide to Neighborly Harmony and Preventing Conflicts

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Renting a house offers the freedom, privacy, and space to make a home your own. However, one thing beyond your control is who lives next door. And, where there are neighbors, there are bound to be some disagreements. The good news? While you can’t choose your neighbors, you can take steps to prevent potential conflicts from arising in the first place. Whether it’s avoiding a late-night game of…



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10 Places Where Home Prices Won’t Stop Climbing

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home sale prices continued to climb in the third quarter of 2024, with 196 of 226 metro areas — 87% — recording gains, according to Realtor.com. Nationally, the median price of an existing home jumped 3.1% year over year and currently stands at $418,700. Fifteen markets saw double-digit annual price growth, with a handful of markets leading the way. Here are the housing markets where…



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Thursday, November 14, 2024

5 Ways President-Elect Trump Plans to Change Health Care

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Advertising Disclosure: When you buy something by clicking links within this article, we may earn a small commission, but it never affects the products or services we recommend. Health care is changing. President-elect Donald Trump’s policies could turn your family’s finances upside down. Will abortion access be restricted? Is the Affordable Care Act on the chopping block?



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9 Money-Saving Gift Card Tricks Everyone Should Know

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Gift cards are a way of life in America. And if you know the right secrets, you can buy gift cards for less than you may realize is possible — not to mention getting them for free. You can also make gift cards pay off to a greater degree than you likely realize. Following are gift card hacks that every savvy shopper should know.



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Wednesday, November 13, 2024

11 of the Hottest Products on Amazon Today

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Airlines Now Have to Automatically Refund You in These 5 Situations

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As millions of Americans prepare to travel this holiday season, new federal rules will make it easier to get your money back for flight cancellations, delays and several other travel headaches. The U.S. Department of Transportation first proposed the automatic refund rules in April, and they began rolling out this month. These enhanced consumer protections were largely born out of deep…



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This Is America’s Favorite Place to Buy Windows and Patio Doors

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If you hope to spruce up your home with new windows or patio doors, choosing the right retailer is a daunting task. But new rankings might make the process a little easier. For J.D. Power’s latest annual U.S. Windows and Patio Doors Satisfaction Study, the firm surveyed more than 3,500 customers who had purchased windows or patio doors in the prior 12 months. Overall satisfaction among all…



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Tuesday, November 12, 2024

5 Times Robert Kiyosaki Totally Blew Market Predictions Over the Last 10 Years

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Robert Kiyosaki is a financial author with some solid advice when it comes to personal finance basics. His book “Rich Dad Poor Dad,” is a bestselling how-to guide on topics like saving and investing. But when it comes to predicting market crashes, following his advice instead of sticking to long-term strategies would have made you miss out on major gains. As recently as August 2, 2024…



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How to Prep Your Retirement Plans for the Trump Administration

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As the dust settles on the U.S. presidential election, it’s a great time to take stock of your financial strategies — especially your retirement plan. Every new administration brings with it potential shifts in policies, taxes and the economy, all of which could impact your future nest egg. Here are some considerations for preparing for a shift in leadership.



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10 Florida Towns That Are Safest From Hurricanes

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Florida is a hurricane hotspot. The National Oceanic and Atmospheric Administration reports that 40% of all U.S. hurricanes strike Florida, and some cities are more at risk than others. Homeinsurance.com completed a ranking of cities in Florida that are safest from hurricanes. They reviewed information in the NOAA Storm Events Database from 1965 to October 2014 and used a zero to 20 scoring…



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Monday, November 11, 2024

Malaysia heading in right direction to become regional family office hub: MIEP head

KUALA LUMPUR: Malaysia’s vision to become the region’s hub for wealth management and family office services looks bright, thanks to significantly lower professional fees compared to Singapore and effective guidelines, said Malaysian Institute of Estate Planners (MIEP) president See Kok Loong.

With the guidelines published by the government in September, he said, Malaysia is heading in the right direction towards that goal as the nation aims to compete with regional powerhouses such as Singapore and Hong Kong.

“It’s a good starting point. Thanks to the government for that. I believe the future is very bright for Malaysia because professional fees here are much lower compared to Singapore, and the effective guidelines published are key factors. With these developments, we’re optimistic that our professionals will reach another level. Instead of losing talent to Singapore, Hong Kong, and China, these professionals can now stay in Malaysia and contribute to this industry,” See told SunBiz on the sidelines of MIEP’s annual general meeting on Saturday.

However, he pointed out that the biggest challenge is that the entire ecosystem is not yet in place, as other markets in the region have been ahead of Malaysia for years. “In Hong Kong and Singapore, there are already more than 1,000 family offices. We are just at the starting point.”

Additionally, See said, the government chose to focus on Iskandar in Johor, partly to develop Forest City and because of its proximity to Singapore.

“But our biggest problem is that most professionals, and their headquarters, are based in Kuala Lumpur. If the government could also open up in Kuala Lumpur, that would be beneficial. But that seems unlikely,” he added.

According to the Securities Commission Malaysia (SC), the incentive offers a zero per cent tax rate on income generated by eligible investments from the Single Family Office Vehicle (SFOV).

Forest City will be the first place in Malaysia to offer this zero per cent tax rate incentive for family offices.

The incentive comes with certain conditions, including that the registered office must be in Pulau 1, Forest City Special Financial Zone. The incentive lasts for 20 years, divided into an initial 10 years, and an additional 10 years.

To qualify for the initial 10-year period, the SFOV must be a new investment holding company set up in Malaysia, and it must seek preregistration with the SC for tax incentives.

Additionally, a management company or related company must be established in Forest City with at least one investment professional earning a monthly salary of RM10,000.

The SFOV must have assets of at least RM30 million, with a minimum of 10% or RM10 million (whichever is lower) invested locally in eligible assets. It must spend at least RM500,000 on operating expenses locally each year. In addition, it must employ at least two full-time staff, including one investment professional, with a monthly salary of RM10,000 or more.

To qualify for the additional 10-year period, the SFOV must have assets of at least RM50 million, with a minimum of 10% or RM10 million (whichever is higher) invested locally. It must spend at least RM650,000 on operating expenses annually and must have at least four full-time employees.



Source: The Sun Daily

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Sarawak’s Rembus green hydrogen plant on track to start operating next year

KUALA LUMPUR: The development of Sarawak’s Rembus green hydrogen plant (Rembus H2 Plant) in Bintulu is on track to meet the 2025 completion target, following a tripartite agreement signed in February with Sarawak Metro Sdn Bhd and ICE Petroleum Group.

Once it becomes operational next year, the plant will supply green hydrogen (H2) for the autonomous rapid transit (ART) and hydrogen-powered feeder buses, the integral components of the Kuching Urban Transport System (KUTS).

This will mark Kuching’s first public ART line powered by hydrogen, supporting Sarawak’s initiative to decarbonise urban areas.

An official spokesperson from SEDC Energy Sdn Bhd (SEDCE), a subsidiary of Sarawak Economic Development Corporation, said Rembus H2 Plant is purpose-built for the Rembus KUTS Depot and it is designed to produce five tonnes of H2 daily.

To note, the Rembus KUTS Depot serves as the central hub for ART, contributing to KUTS.

“Rembus H2 Plant is just one of the facilities in Kuching, which is part of Petroleum Sarawak Bhd’s multifuel station in Darul Hana (Petros MFS Darul Hana), capable of dispensing H2 on site.

“The MFS is also capable of dispensing conventional fuels such as RON95, RON97 and diesel, and provides other modern facilities such as fast electric-vehicle charging and H2 dispensing.

“The MFS is also one of the flagship stations that will support government fleets such as the Toyota Mirai, a mid-size hydrogen fuel cell vehicle.

“SEDCE plans to build six other MFS along the Pan Borneo Highway to support these fleets. These stations will be placed about 200km apart,” the spokesperson said.

In reply to a question, the spokesperson said SEDCE’s vision is for Sarawak to become a leading hydrogen player and a hub, leveraging the state’s rich natural resources and strategic location to supply hydrogen to the region and beyond.

“Hydrogen technology is still new for Malaysia. We should take solar technology as a benchmark. It used to be expensive then, but now it is much more attainable when technology has matured.

Hydrogen technology will reach that level, but like any other country, the government must take the lead and meet the main goal, which is decarbonisation. Hydrogen must not be seen as a competitor to other renewable energy (RE). It must be accepted as a complement to the other RE because, ultimately, all these are done towards decarbonisation,“ the spokesperson added.

The SEDCE spokesperson said the agency’s primary challenges are technology adaptation, infrastructure development, regulatory hurdles, and ensuring a stable supply chain for hydrogen production.

“Hydrogen is generally new in Malaysia and most parts of the world. In modernised countries, hydrogen development is highly subsidised by the respective governments.

“With the current electricity tariff from renewable energy and additional costs for electrolysers and infrastructure for hydrogen production, support at both federal and state levels is crucial in various tax regimes, especially when the hydrogen sector is still immature,” the spokesperson said.

Sarawak began its hydrogen journey in 2018, when SEDCE was given the responsibility of driving the hydrogen value chain in Sarawak.

To note, SEDCE is part of the agency’s Sarawak Post Covid Development Strategy 2030, the National Energy Transition Roadmap and the Hydrogen Economy and Technology Roadmap.

“We work closely with federal government agencies to find the best way to move forward in energy transition. In Sarawak, SEDCE works closely with the Ministry of Energy and Environmental Sustainability Sarawak on related policies.”

The spokesperson said that besides Rembus H2 Plant, SEDCE is also working closely with strategic partners such as Gentari Sdn Bhd on Sarawak H2 Hub.

This hub is the first plug-and-play hub where investors can come to Sarawak to set up their hydrogen production without the fuss about common facilities such as power and water supply. SEDCE and Gentari will establish a joint venture company to focus on the hub development, which is currently in progress.

“In conclusion, Rembus H2 Plant is just part of the whole hydrogen economy that Sarawak is championing with SEDCE, given the mandate to drive the development of the H2 value chain,” the spokesperson said.



Source: The Sun Daily

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