☕️ Ramly Burger Index - measuring the shrinking purchasing power of fresh grads

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

The US and the UK have agreed to a technology pact to boost ties in AI, quantum computing, and civil nuclear energy, with top US firms led by Microsoft pledging about USD42 bil (RM176.7 bil) in UK investments. Coined the “Tech Prosperity Deal”, the pact is part of US President Donald Trump’s second state visit to the UK, which included a day at Windsor Castle being hosted by the British royal family. UK PM Keir Starmer said the deal had the potential to shape the future of millions of people on both sides of the Atlantic and deliver growth and security. Considering the US is Britain’s single largest trading partner, with billions of dollars already invested by big tech firms in their UK operations, this is hardly a surprise. However, something else did happen…

The World Trade Organization reported that AI could boost the value of trade in goods and services by nearly 40% by 2040, but warned that adequate policies are necessary to avoid exacerbating economic divides. The higher trade value comes from lower trade costs and enhanced productivity, which could drive substantial increases in trade and gross domestic product (GDP). Other benefits from AI include translation technologies to make communication faster and more cost-effective, with small producers and retailers being the biggest winners, as this enables them to expand into global markets. However, AI could also upend labour markets, transforming some jobs while displacing others. These shifts demand investment in domestic policies to enhance education, skills, retraining and social safety nets.

Google parent Alphabet has become the fourth member of an elite group of companies, namely those that are valued at more than USD3 tril (RM12.6 tril). Alphabet passed the threshold on Sept 15, riding renewed optimism around AI and a favourable antitrust ruling, which resulted in its shares rising 4.3% to push its market capitalisation past the benchmark. The stock has soared over 70% since its Apr low, which added about USD1.2 tril (RM5 tril) to its value over that span. The other club members are Apple, Microsoft, and Nvidia.

3. IN MALAYSIA 🇲🇾

Bank Negara reviews Regulation 78 on loan interest
Bank Negara Malaysia (BNM) is still weighing whether to scrap Regulation 78, the rule used to calculate loan interest rates. The central bank is studying the implications before any decision is made, while using countries like Australia and New Zealand as examples to regulate similar practices and safeguard Malaysia’s economy. The debate gained traction after economist Professor Emeritus Dr Barjoyai Bardai argued that Regulation 78, also called Rule 78, unfairly benefits financial institutions at the expense of borrowers, who may end up paying interest of up to 50% of the actual loan amount.

RM1 bil Auto City in Nilai to creates potential jobs
Negeri Sembilan is hosting its first modern automotive hub with the launch of the RM1 bil Auto City at Nilai Smart City, a 1,800-acre development. The project’s first phase is expected to generate over 5,000 jobs in areas such as technical services, logistics, marketing and management, while housing showrooms, service centres, spare parts outlets, aesthetic treatment facilities and lifestyle spaces. Backed by Nilai Resources Group, the development wants to draw global automotive brands and spur growth in electric vehicle manufacturing, healthcare, education, warehousing and housing. This project strengthens Nilai’s position as an automotive and technology hub aligned with Malaysia Vision Valley goals, with the upcoming Nilai-Labu-Enstek expressway to KLIA due for completion in Jul 2026.

Telcos launch Number Verification API to fight fraud
Malaysia’s major telcos, CelcomDigi, Maxis, U Mobile, Telekom Malaysia and YTL Communications are teaming up to introduce a federated network service aimed at curbing fraud and identity theft, unveiled on Sept 23 at the Digital Nation Summit. The initiative centres on a Number Verification API, which allows banks, ewallets, online retailers and other apps to verify a customer’s mobile number directly against real-time network or SIM data, offering a safer alternative to SMS OTPs. By creating a cross-operator system where each telco retains control of its own data, policy and revenue, the service is expected to strengthen authentication for activities like app logins, password resets and two-factor verification, while improving user experience and shielding Malaysians from digital scams.

More on Budi95

Petrol subsidy backend rollout under TNG Digital
The government confirmed the backend system for the new Budi95 petrol subsidy will be run by TNG Digital Sdn Bhd. Through its unit Nadi Tech, it will operate the central database enabling one-time eKYC verification through the terminals. The TNG eWallet can be used at all stations, retailer apps are limited to their own brands, with Shell set to introduce its version “within a month or so”. For those not using the apps, MyKad verification at the pump will still be required. 
P.S. Malaysians can check their eligibility for Budi95 starting this Thursday at http://budimadani.gov.my and also verify it by inserting their MyKad into the reader at petrol stations. The final receipt will show the pump price, government subsidy, and the amount paid by the user.

Btw, there’s no limit on the number of times you can pump a day, as previously misreported by a news channel.

Malaysia introduces two additional RON95 petrol prices
Malaysia will introduce a new three-tier pricing system for RON95 petrol by end of the month. Malaysians with valid driving licences will continue to enjoy 300 litres monthly at RM1.99 per litre, while eligible public and commercial vehicles will pay RM2.05. Non-Malaysians and non-eligible businesses will be charged based on automatic pricing mechanism, estimated currently at RM2.90. Foreign-registered vehicles remain restricted to RON97. This move balances subsidy rationalisation with cost-of-living concerns, after Putrajaya spent RM18 bil last year to subsidise 18 bil litres of RON95 when crude averaged above USD80 (RM335.88) a barrel. With Brent now below USD 70, the government expects savings by excluding foreigners and ineligible businesses, which account for 22% of RON95 consumption. Only 0.7% of Malaysian drivers use more than the 300-litre quota monthly.

Shorts

1. KL road closures for Sultan of Selangor Cup 
   Five major roads in KL will be closed on Sept 27 for the Sultan of Selangor Cup football clash between Selangor and Singapore at Stadium Merdeka. Closures and diversions, affecting Jalan Maharajalela (Bulatan Merdeka), Jalan Hang Tuah (towards Jalan Hang Jebat), Jalan Hang Jebat, Jalan Stadium and Jalan Merdeka, will run from 2pm until after the match. The public is urged to rely on public transportation.

2. Possible short La Niña spell late 2025 to early 2026

   Malaysia may face a short spell of La Niña between late 2025 and early 2026, potentially disrupting rainfall patterns. Current forecasts show a 56% chance of neutral El Niño-Southern Oscillation (ENSO) conditions lasting until Oct, but the possibility of a brief shift into La Niña that could affect Malaysia. The country is now at the tail end of the Southwest Monsoon, with southwesterly winds keeping humidity low and limiting rain clouds, raising risks of local and transboundary haze if open burning continues. Despite the drier spell, thunderstorms and strong winds remain likely in western Peninsular Malaysia, northern Sarawak and western Sabah, often striking in the early morning due to squall lines.

3. Government warns Meta over gambling and scam content
   Fahmi Fadzil warned Meta that stronger action could be taken if it fails to curb online gambling and scam content on its platforms, after revealing that thousands of takedown requests were filed with Facebook as of Sept. 120,127 linked to gambling and 37,722 to scams yet thousands of flagged posts remain online. The situation was alarming with figures showing Malaysians lost over RM248 mil to e-commerce fraud on Facebook, Instagram and WhatsApp between 2023 and Aug this year.

4. AROUND THE WORLD 🌎

At the UN meetings in New York
More countries recognise Palestinian state
Adding to the list of recognition of the state of Palestine is France, as its president Emmanuel Macron announced its official recognition and called for a plan for a UN-mandated international stabilisation force in post-war Gaza. The plan is expected to garner support from many countries, but certainly not from Israel or the US. On the same note, Spain’s PM, Pedro Sanchez, called for a state of Palestine to be a full member of the UN, telling the general assembly: “This conference marks a milestone but it’s not the end of the road. It’s only the beginning.” On Monday night, Monaco, Belgium, Andorra, Malta and Luxembourg all recognised Palestine, bringing the total number of recognitions to three-quarters of UN membership, with the UN secretary-general saying that the statehood was “a right, not a reward” for Palestinians.

Trump to present plan on ending Israel’s Gaza war to Arab, Muslim leaders
Meanwhile, Arab and Muslim leaders are set to meet Donald Trump in New York to discuss their separate plan for a stabilisation force in Gaza. Leaders from Saudi Arabia, Qatar, the UAE, Egypt, Jordan, Turkiye, Indonesia and Pakistan will be meeting Trump on the sidelines of the United Nations General Assembly (UNGA), with Trump expected to offer a plan to end Israel’s war on Gaza. The US president will discuss how the Israeli military may withdraw from Gaza in the future, how he wants the regional leaders to send in troops to maintain order, and how a transition and rebuilding process can begin and be funded, said unnamed sources. The plan was reportedly not drafted by Israel, but Netanyahu is aware of the details. Will this be the breakthrough the world is waiting for? Palestinians are still killed and displaced as all these events unfold. Question is, will Israel listen to US?

West and Russia clash over NATO airspace violations
At the UN Security Council meeting, things got heated as several European countries accused Russia of violating their airspaces in the past weeks. Earlier this month, Poland reported that it had shot down several drones during a Russian aerial attack on Ukraine, while Estonia said that Russian MiG-31 fighter jets entered Estonian airspace for 12 minutes, before they were forced to withdraw. Romania said last week that its radar detected a Russian drone, prompting it to scramble fighter jets. The UK's foreign secretary warned Russia about their “reckless actions”, iterating that their “alliance is defensive, but be under no illusion, we stand ready to defend NATO’s skies and NATO’s territory”. All these accusations were rejected as “baseless accusations” by Russia, with its deputy ambassador to the UN saying that they won’t be partaking in the “theatre of absurd” and will be ready when the West decides to “engage in a serious discussion about European security, about the fate of our common continent, about how to make this continent prosperous and secure for everybody”.

China’s golden goals
China is said to be aiming to be the custodian of foreign sovereign gold reserves, a move that would enhance Beijing’s role in the global financial system and furthering its goal of establishing a world that’s less dependent on the dollar and Western centers. The People’s Bank of China (PBOC) uses the Shanghai Gold Exchange (SGE) to court central banks in friendly countries to buy bullion and store it within the country’s borders. The effort has taken place over recent months and has attracted interest from at least one country, in Southeast Asia. For prospective clients, Chinese vaults could be an attractive option to build reserves and help bypass the risk of being cut off from the world’s financial markets. Central bank buying of gold accelerated after the US and its allies froze Russia’s foreign exchange reserves in 2022 after the invasion of Ukraine. Demand from central banks has been a key pillar in gold’s recent ascent to record highs, and the PBOC itself has been on a buying spree for ten straight months. Never a good idea for a sovereign to keep its gold in another country - just look at Venezuela’s then-USD1.6 bil (probably doubled now) gold in the Bank of England.

Nvidia to invest USD100 bil in OpenAI 
Nvidia and OpenAI had announced a “monumental in size” collaboration - the chipmaker said that it will invest up to USD100 bil (RM419.85 bil) in OpenAI as the company sets out to build hundreds of billions of dollars in data centers based around the Nvidia’s AI processors. OpenAI plans to build and deploy Nvidia systems that require 10 gigawatts of power - that is equal to between 4 to 5 mil graphics processing units (GPUs), which is what the company will ship in total this year and “twice as much as last year.” Nvidia stock rose almost 4% on Monday, instantly adding close to USD170 bil in value to the company’s market cap, which now sits near USD4.5 tril. The companies also said that the partnership will complement the infrastructure work it is doing with Microsoft, Oracle, SoftBank and the Stargate project. Last week, Oracle announced a USD300 bil deal with OpenAI. It’s getting dizzy here.

Shorts

1. Ex-Philippine President Duterte charged with crimes against humanity

   The International Criminal Court has charged the former president of the Philipines Rodrigo Duterte with three counts of crimes against humanity, alleging that he played a role in the murders of at least 76 people during his so-called “war on drugs”. Duterte is said to be responsible for thousands of alleged narcotics dealers and users deaths that occurred between 2013 and 2018. However, the court must consider if he is fit for trial as his lawyer informed that his health is in poor condition. He is now 80 years old and has been held in a detention facility in the Netherlands since Mar.

2. A pardon for Egyptian political prisoner Alaa Abdel Fattah 
   Alaa Abdel Fattah, a 43-year-old British-Egyptian prominent activist who has been jailed for the better part of the past decade, has been issued a pardon by Egyptian President Abdel Fattah al-Sisi following petitions submitted by the state-affiliated National Council for Human Rights. Abdel Fattah was a leading figure in Egypt’s 2011 uprising and has been repeatedly jailed since then. His latest sentence was in Dec 2021 to five years in prison for “spreading false news” after sharing a Facebook post about alleged torture in Egyptian jails. Human Rights Watch described the pardon as “long overdue good news”, but despite his pardon, hundreds of other activists and politicians remain behind bars in Egypt.

5. FOR YOUR EYES 📺

1. Heard of the Big Mac Index? Here’s Malaysia’s version - the Ramly Burger Index, measuring the shrinking purchasing power of fresh grads posted by a Redditor. Original post here.

   

   Source: r/Bolehland

2. Rosé played the version 1.0 (demo) of APT on the Howard Stern Show. Would you prefer this or the final version?

sternshow

2M followers

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