Malaysian PM vows to cut public debt, downsize government World

Malaysian PM vows to cut public debt, downsize government

Malaysia’s new Prime Minister Mahathir Mohamad has announced that salaries of cabinet ministers will be cut in a bid to control spending as the government is facing a high-level public debt that now exceeds 1 trillion ringgit (around 251.5 billion USD).
Malaysia sets up committee for 1MDB probe World

Malaysia sets up committee for 1MDB probe

Malaysia has set up a special committee to probe matters relating to the state fund 1Malayia Development Berhad (1MDB), announced the country’s Council of Eminent Persons on May 17.