Latest news with #088
The Star
21-07-2025
- Business
- The Star
Banking on tax to move beyond oil
A file photo of Muscat, the capital of Oman, from March 24, 2023. Officials said a new tax there would affect only a small portion of the population but would help reduce the country's dependence on oil and gas. — Andrea DiCenzo/The New York Times THE concept of an income tax has long created debate and anxiety among the citizens of the fossil fuel-rich countries in the Persian Gulf. But no nation actually introduced one until last month, when Oman announced that it would apply a 5% tax starting from 2028 on those who make more than 42,000 Omani riyals (RM462,088). Cancel anytime. Ad-free. Full access to Web and App. RM 13.90/month RM 9.73 /month Billed as RM 9.73 for the 1st month, RM 13.90 thereafter. RM 12.39/month RM 8.63 /month Billed as RM 103.60 for the 1st year, RM 148 thereafter.
India Gazette
05-07-2025
- Politics
- India Gazette
NHAI Shimla incident unfortunate, HP Govt administration at all-time low: JP Nadda in Bilaspur
Bilaspur (Himachal Pradesh) [India], July 5 (ANI): The BJP national president and Union Minister JP Nadda on Saturday came down heavily on the Himachal Pradesh government, calling the current state of administration 'an all-time low,' while terming the recent incident involving Shimla (Rural) MLA Anirudh Singh and NHAI officials as 'unfortunate'. 'When the protector himself becomes the predator, how will the administration function. I am worried and hurt the way things are happening in Himachal Pradesh,' said the BJP national chief while addressing the Media in Bilaspur on Saturday. Addressing the media during his visit to Bilaspur, Nadda said he had held a detailed meeting to review ongoing National Highway projects in the state and issued directions for the future course of action. 'I have been an MLA and minister in Himachal Pradesh. Never has the administration functioned at such a low level. The recent incident involving NHAI officials in Shimla is deeply unfortunate,' he stated. Expressing gratitude to Prime Minister Narendra Modi and Union Road Transport and Highways Minister Nitin Gadkari, Nadda stated the Central Government was committed to accelerating infrastructure in the hill state. He stated that as per current data, 2,592 km of national highways are being developed in Himachal Pradesh. Of this, 785 km is being executed by the National Highways Authority of India (NHAI), 1238 km by the Ministry of Road Transport and Highways (MoRTH), and 569 km by the Border Roads Organisation (BRO). Detailing the key road projects, he said that the roads and projects would be completed by 2026 and 2028, respectively. He said the Parwanoo-Shimla highway, with an allocation of Rs 7,667 crore, is targeted for completion by April 2027. The Kiratpur-Manali highway, worth Rs 9,452 crore, involves 28 tunnels totalling 41 km. The Sundernagar bypass has been completed; Nerchowk to Pandoh is to be completed by March 2026, while the Takoli-Kullu and Kullu-Manali stretches are already done. He said that the Shimla-Mataur highway has a budget of Rs 1,208 crore and includes 15 tunnels across 13 km. DPRs (Detailed Project Reports) are being prepared for the Shimla-Shalaghat and Bilaspur-Hamirpur roads, with the latter's DPR initiated in October 2022. The Pathankot-Mandi highway, a Rs1,088 crore project, includes 13 tunnels over 10 km. The Pinjore-Baddi-Nalagarh stretch (Rs 1,092 crore) is slated for completion by 2026. The Paraur to Paddar road is expected to be completed by 2026, and the Punjab border to Mandi stretch by 2028. Nadda said he would be writing to the Himachal Chief Minister about the state's consent and No Objection Certificate (NoC) mechanism for national highways. He pointed out that the current process, which treats NH projects as industrial entities and requires annual consent, is creating unnecessary delays and needs streamlining. On the issue of dredging in the Beas River, he said it was the primary responsibility of the state government, although the Centre was open to resolving such matters case-by-case. Referring to the Sundo-Kaza to Gramphu stretch approved in 2024, he said it was 'still awaiting forest clearance from the Himachal government.' Nadda also revealed that the Ghumarwin-Bharari-Shatalai road had been taken up under the Central Road Fund (CRF), and Union Minister Kiren Rijiju had recently sanctioned Rs 151 crore for various infrastructure projects in the state. He dismissed claims that the Union government had not supported Himachal Pradesh. 'We have already given Rs 1,700 crore as disaster assistance. Rs 1,000 crore has been spent. But the state has only used 21% of the Ayushman Bharat health budget and 24% of the health support funds,' he said. He stressed the need for involving local residents and expert consultants in the preparation of DPRs and ensuring community consent for project planning. On issues related to compensation and dredging, Nadda said the Centre remained open to dialogue and resolution, but the state must take the lead. Meanwhile, BJP MP Kangana Ranaut is expected to visit flood-affected areas of Himachal Pradesh shortly. Nadda said there was no communication gap between the Centre and the state BJP leadership, adding that former CM Jai Ram Thakur was monitoring the situation closely. (ANI)
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New Straits Times
30-05-2025
- Business
- New Straits Times
[UPDATED] 'Tan Sri' among new arrests in ponzi crackdown under Op Northern Star
KUALA LUMPUR: Three more individuals, including a "Tan Sri" linked to a major real estate developer, were arrested to assist police investigations into a Ponzi-style investment scam under Op Northern Star. Commercial Crime Investigation Department acting director Datuk Seri Muhammed Hasbullah Ali said the trio were arrested between May 1 and May 17, following new information obtained during the course of investigations. "As of now, the information gathered found no links to any politician. "To date, a total of 17 individuals were arrested. "The arrests were made around Kuala Lumpur and Penang," he told a press conference here today. The three suspects were remanded for between five and nine days, and were subsequently released on police bail. Police have confiscated 477 properties valued at an estimated RM150 million, four condominium units worth around RM12 million, and RM326,088,127.11 from 37 bank accounts. Additionally, four yachts and three passenger boats valued at RM36.3 million, three luxury vehicles amounting to RM637,100, and two watches worth a total of RM160,000 were also seized. Police further recovered over RM283,000 in cash and five mobile phones, bringing the total value of items seized since the operation began to over RM3.8 billion. Bukit Aman's Anti-Money Laundering Crime Investigation (AMLA) Unit also seized five businesses, including a durian farm, a real estate development company, and a hotel — bringing the total number of businesses seized to eight. "Some of these companies are publicly listed, some are private companies which are operating legally even," he explained. Op Northern Star is an investigation into a Ponzi-type investment scam linked to Mobility Beyond Imagination (MBI). On 22 April, police seized and froze more than RM338.53 million in assets related to the case. On 11 April, four men with "Datuk" titles, including two lawyers, were among eight people arrested in the same probe
IOL News
16-05-2025
- Business
- IOL News
Exploring the South African property market: What R1. 3million can secure?
The average price of a house is now just shy of R1.3 million after prices increased 2.54%, with the cost of a deposit now at R216,088 – just short of 10% of the cost of a home. In Greenside, a leafy suburb just to the north of the Johannesburg CBD, R1m will get you a maximum of two bedrooms, a similar search result as in Edenvale in the east. Florida, in the west, will secure you a house with as many as three bedrooms, while the south of Johannesburg, Kibler Park, offers more value than Greenside and Edenvale, but not as much as in Florida. In Durban, a three-bedroom home can be had in Bellair for under R1m, while this size house will be R1.25m in Bluff. For about half that, you can get a 1 bedroom apartment on South Beach. Home prices are rather dependent on location, and R1.3m in Cape Town will secure a buyer a home with anywhere between one and two bedrooms, depending on whether it's in Observatory or in Belhar, for example. The average price of a house is now just shy of R1.3 million after prices increased 2.54%, with the cost of a deposit now at R216,088 – just short of 10% of the cost of a home. Image: Karen Sandison / Independent Newspapers According to MyProperty Home Loans, first-time buyers continue to lead activity in the home loan market, accounting for 67.77% of all bond approvals in April 2025. This reflects a slight decline from 67.82% in April 2024. MyProperty's data follows that of FNB's, which released its House Price Index (HPI) for last month earlier this week. FNB's statistics found that there was an average price gain of 2.2% year-on-year in April, which is the fastest pace at which housing has become more expensive in two years. Statistics South Africa's General Household Survey shows a typical household has 3.2 members. Over 75% of homes have four to five members or fewer, while only 13% have six or more members. MyProperty Home Loans also noted that the approved bond rose by 0.75% to R1,046,110. 'The South African property market in April 2025 reflects a cautious but steady recovery, with home loan data pointing to modest price growth and improving sentiment among buyers,' it said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ According to the FNB House Price Index, home values increased by 2.2% year-on-year—marking the fastest growth in nearly two years. Despite this positive development, transaction volumes remain around 16% below pre-pandemic levels, suggesting that while buyer confidence is improving, overall market activity is still subdued. In 2023, South Africa's residential property market comprised 6.91 million properties and was valued at R6.789 trillion, City Mark data indicates, the latest information available to IOL. However, bond approval from applicants' own banks declined from 53.01% to 51.67%, indicating that buyers are increasingly shopping around for better deals, a trend that aligns with broader shifts toward financial caution and value-seeking behaviour, said MyProperty Home Loans. 'Overall, the data points to a market where affordability remains top of mind for buyers, especially first-time entrants. While deposits are growing, the willingness of banks to extend high loan-to-value ratios and slightly better interest rates is helping to keep the market accessible. "With expectations of further interest rate relief and potential changes to property-related policy, market conditions may continue to improve through the remainder of the year,' said MyProperty Home Loans. IOL
IOL News
16-05-2025
- Business
- IOL News
Exploring the South African property market: What R1. 3million can secure?
The average price of a house is now just shy of R1.3 million after prices increased 2.54%, with the cost of a deposit now at R216,088 – just short of 10% of the cost of a home. In Greenside, a leafy suburb just to the north of the Johannesburg CBD, R1m will get you a maximum of two bedrooms, a similar search result as in Edenvale in the east. Florida, in the west, will secure you a house with as many as three bedrooms, while the south of Johannesburg, Kibler Park, offers more value than Greenside and Edenvale, but not as much as in Florida. In Durban, a three-bedroom home can be had in Bellair for under R1m, while this size house will be R1.25m in Bluff. For about half that, you can get a 1 bedroom apartment on South Beach. Home prices are rather dependent on location, and R1.3m in Cape Town will secure a buyer a home with anywhere between one and two bedrooms, depending on whether it's in Observatory or in Belhar, for example. The average price of a house is now just shy of R1.3 million after prices increased 2.54%, with the cost of a deposit now at R216,088 – just short of 10% of the cost of a home. Image: Karen Sandison / Independent Newspapers According to MyProperty Home Loans, first-time buyers continue to lead activity in the home loan market, accounting for 67.77% of all bond approvals in April 2025. This reflects a slight decline from 67.82% in April 2024. MyProperty's data follows that of FNB's, which released its House Price Index (HPI) for last month earlier this week. FNB's statistics found that there was an average price gain of 2.2% year-on-year in April, which is the fastest pace at which housing has become more expensive in two years. Statistics South Africa's General Household Survey shows a typical household has 3.2 members. Over 75% of homes have four to five members or fewer, while only 13% have six or more members. MyProperty Home Loans also noted that the approved bond rose by 0.75% to R1,046,110. 'The South African property market in April 2025 reflects a cautious but steady recovery, with home loan data pointing to modest price growth and improving sentiment among buyers,' it said. According to the FNB House Price Index, home values increased by 2.2% year-on-year—marking the fastest growth in nearly two years. Despite this positive development, transaction volumes remain around 16% below pre-pandemic levels, suggesting that while buyer confidence is improving, overall market activity is still subdued. In 2023, South Africa's residential property market comprised 6.91 million properties and was valued at R6.789 trillion, City Mark data indicates, the latest information available to IOL. However, bond approval from applicants' own banks declined from 53.01% to 51.67%, indicating that buyers are increasingly shopping around for better deals, a trend that aligns with broader shifts toward financial caution and value-seeking behaviour, said MyProperty Home Loans. 'Overall, the data points to a market where affordability remains top of mind for buyers, especially first-time entrants. While deposits are growing, the willingness of banks to extend high loan-to-value ratios and slightly better interest rates is helping to keep the market accessible. "With expectations of further interest rate relief and potential changes to property-related policy, market conditions may continue to improve through the remainder of the year,' said MyProperty Home Loans. IOL
