(Jan 8): US President Donald Trump extended his country’s retreat from global cooperation on climate action by announcing the nation would withdraw from flagship international organisations, including the main United Nations (UN) and scientific bodies focused on the issue. The Intergovernmental Panel on Climate Change (IPCC) and the UN Framework Convention on Climate Change (UNFCCC) are among a total of 66 groups the US will exit. The moves are seen as likely to diminish both the US role in addressing greenhouse gas emissions and the global influence of those entities. Some legal experts have said, though, that a future president could simply re-accede to the accord without Senate approval. “It only leaves people across the US, policymakers, and businesses flying in the dark at the very moment when credible climate information is most urgently needed.”

“When you listen long enough, you realise something fundamental, namely Sabah’s development problems are not for lack of effort or ambition. They stem from a lack of resources reaching the state — resources that the Federal Constitution itself guarantees. The 40% entitlement was meant to ensure that Sabah had the means to build, to grow and prosper,” he tells The Edge. Federal government coalition partners Pakatan Harapan (PH), Barisan Nasional, and Gabungan Rakyat Sabah also participated in the election. With Johor’s push for greater economic autonomy suggesting that the state is eager to chart its own long-term direction, how will Onn Hafiz balance the state’s ambitions with national constraints?

In July 2023, Muhammad Taufik’s tenure as president, group CEO and executive director was extended for the first time. These include issues such as the current standoff with Petroleum Sarawak Bhd (Petros). Datuk Janin GirieGroup CEO of Petroleum Sarawak Bhd (Petros)(Photo by PETROLEUMSARAWAK)Datuk Janin Girie took over as group CEO of Petros from Datuk Sauu Kakok in January 2022. At Petros, he is involved in nearly all subsidiaries — including Petroleum Sarawak Exploration & Production Sdn Bhd, Petroleum Sarawak Gas Sdn Bhd, Sarawak Gas Distribution Sdn Bhd and Petros Power Sdn Bhd — leveraging more than 30 years of industry experience. Just last month, it signed several strategic energy initiatives, including a storage study agreement, with partners such as Japan Organization for Metals and Energy Security, SC Tubular Solutions Malaysia Sdn Bhd, Superconducting Sensor Technology Corp and Woodside Energy.

BENGALURU (Jan 7): US President Donald Trump and his advisers are planning an initiative to dominate the Venezuelan oil industry for years to come, and the president told aides he believes his efforts could help lower oil prices to US$50 a barrel, the Wall Street Journal (WSJ) reported on Wednesday. A plan under consideration includes the US exerting some control over Venezuela's state-run oil company PDVSA, including acquiring and marketing the bulk of the company’s oil production, the report said, citing people familiar with the matter. Reuters could not immediately confirm the report. The White House did not respond immediately respond to Reuters' request for comment. The US is looking to wield control of PDVSA through a deal under which it would work to buy and possibly distribute the company's oil, including through past and current joint ventures with oil majors like Chevron, the report added.

KUALA LUMPUR: The government will not burden the people by adjusting the Budi Madani RON95 (Budi95) quota based on income levels, says Treasury secretary-general Datuk Johan Mahmood Merican. He said the government's main concern right now is to analyse the data gathered from the start of the Budi95 programme to see its success. "Let's analyse the data first to look for unusual utilisation before we look at changing parameters. On the Budi95 quota of 300 litres, Johan Mahmood said government data showed that the average consumption is about 83 litres per month, and 90% of those eligible for Budi95 used less than 200 litres per month. He said that the government would not be implementing a more targeted subsidy programme based on income class despite proposals for a more precise mechanism.

(Jan 8): Leading Chinese oil companies with interests in Venezuela have asked Beijing for guidance on how to protect their investments, as Washington cranks up pressure on the Latin American country to increase its economic ties with the US. Top Beijing officials are separately reviewing events and trying to better understand corporate exposure, while planning for scenarios including a worst case where China’s investments would go to zero, they added. Venezuela, with few other friends, has been among the most important beneficiaries of this largesse — in part because of its vast oil wealth. China first extended financing for infrastructure and oil projects in 2007, under former president Hugo Chavez. Public data supports estimates that Beijing had lent upwards of US$60 billion in oil-backed loans through state-run banks by 2015.

KUALA LUMPUR: It was an easy day at the office for Malaysia’s top men’s doubles shuttlers Aaron Chia-Soh Wooi Yik. The world No. 2 pair booked their spot in the Malaysian Open second round after stream-rolling past United States’ Chen Zhi Yi-Presley Smith 21-11, 21-19 in 34 minutes at Axiata Arena on Wednesday (Jan 7). They will now face either China’s Chen Xujun-Liu Yang or Taiwan’s Liu Kuang-heng-Yang Po-han for a place in the quarter-finals.

PETALING JAYA: A surge in Prasarana’s rail and bus ridership suggests that public faith in the nation’s transport network is on the mend, said a leading transport expert. Describing the development as “worth cheering about”, Assoc Prof Law said it validates the effectiveness of recent operational improvements. ALSO READ : Shah Alam LRT line faces more delaysHowever, he warned that urban ridership growth this year was likely to be dampened owing to delays in the Shah Alam LRT line’s launch. Assoc Prof Law backed the government’s decision to prioritise safety and dismissed the idea of bypassing these checks to meet public expectations. “While double tracking serves longer-distance trips, the Shah Alam LRT line supports frequent urban travel.

A COUPLE in India adopted an infant from a poor family with the intention of performing a human sacrifice, Malaysia Nanban reported. Imran and his wife, who live in Bengaluru city in India’s southern Karnataka state, also reportedly prepared a fake certificate for the baby. A few nights ago, an anonymous caller tipped off a children’s emergency service about the couple’s plan to carry out a human sacrifice on the night of the full moon on Saturday. The one-year-old baby was rescued and the couple were arrested. During questioning, the couple had apparently said the human sacrifice was meant to unearth treasures.

Venezuela will be "turning over" between 30 million and 50 million barrels of "sanctioned oil" to the ​US, Trump wrote in a social media post on Tuesday. ​The blockade was part of a US pressure campaign against Venezuelan President Nicolas Maduro's government that culminated in US forces ⁠capturing him over the weekend. Providing some support to prices, US crude ‍stocks dropped by 3.8 million barrels to 419.1 ‍million barrels in the week ended January 2, the Energy Information Administration said. Venezuela has been selling its flagship Merey crude grade at around US$22 per barrel below Brent ‍for delivery at its ports. "That raises the expected price of oil over the medium term, especially if the Venezuelan regime survives," the ⁠BMI analysts said.

KUALA LUMPUR: His Majesty Sultan Ibrahim, King of Malaysia, granted an audience to the Plantation and Commodities Minister, Datuk Seri Dr Noraini Ahmad, who was appointed to the post on Dec 16. According to a social media post on Wednesday (Jan 7), the meeting at Istana Bukit Tunku included a briefing on the ministry's plans and strategic direction. Also present was the ministry's Secretary-General, Datuk Yusran Shah Mohd Yusof. During the audience, His Majesty also shared views and advice, emphasising that all plans should be implemented with integrity, grounded in good governance and prioritising the interests of the people. Noraini, who is also the Member of Parliament for Parit Sulong, was appointed Plantation and Commodities Minister following a cabinet reshuffle announced by Prime Minister Datuk Seri Anwar Ibrahim on Dec 16, involving 28 ministers and deputy ministers.

Seu Bock, who has been strongly tipped to return as the senior men's singles coach in the Badminton Association of Malaysia (BAM), was seen guiding Jun Hao along with K. Yogendran against China's world No. A much happier Jun Hao said that Seu Bock's presence was key to his victory. "He used to guide me before and he's coaching me again in a match today (yesterday)," said Jun Hao. "For sure, it feels different as he has guided the senior men's singles players for so many years. Seu Bock was shifted from the senior men's singles to junior coach at the end of 2024.

KUALA LUMPUR: Malaysia views 2026 as a critical year that will challenge long-standing assumptions about global power, order and responsibility, Prime Minister Datuk Seri Anwar Ibrahim says. Speaking at a public lecture titled "Power Shift: Strategic Choices For Malaysia And Türki̇ye" in Ankara on Wednesday (Jan 7), Anwar said the year ahead would be marked by significant uncertainty and strategic change at the global level. "This will test many settled assumptions about power, order and responsibility," he said, adding that his visit to Türkiye would be among the most consequential visits in 2026. Anwar stressed that countries positioned as middle powers could not afford to remain passive as global certainty continues to erode, nor wait for others to set the terms. But they will help determine whether smaller countries retain room to manoeuvre, and whether law still constrains power," he said.

The S&P Global/CIPS Purchasing Managers' Index (PMI) for the sector came in at 40.1 in December, not much higher than its 5-1/2-year low of 39.4 in November. The drop extended the sector's downturn to 12 months, its longest unbroken run of contractions since the global financial crisis of 2007-09. Despite a lifting of budget-related uncertainty, delayed spending decisions were still cited as contributing to weak sales pipelines at the close of the year." While the downturn in civil engineering eased, it remained the weakest performing category in December. The residential building activity subindex dropped to 33.5, the weakest reading since May 2020 when lockdowns during the coronavirus pandemic halted construction work.

(Jan 7): The United States needs to control Venezuela's oil sales and revenue indefinitely to drive the changes it wants to see in the country, Energy Secretary Chris Wright said on Wednesday. "We need to have that leverage and that control of those oil sales to drive the changes that simply must happen in Venezuela," Wright said at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami. Wright added he was speaking to U.S. oil companies to learn what conditions would enable them to enter Venezuela to help boost production there. The agreement is a sign Venezuelan government officials are responding to Trump's demand that they open up to U.S. oil companies or risk more military intervention. "Instead of the oil being blockaded as it is right now, we're going to let the oil flow," Wright said at the conference.