Tensions in the Red Sea are not expected to impact the country’s agriculture and food sectors, according to Agriculture and Food Security Minister Datuk Seri Mohamad Sabu.
Maersk announced yesterday that it will pause vessels bound for the Red Sea and the Gulf of Aden "in light of the recent incident involving Maersk Hangzhou and ongoing developments in the area".
Oil prices rallied on Monday due to naval and commercial ship attacks in the Red Sea that raised fears of possible disruptions to oil supply routes, as well as the greater possibility of Russia reducing oil exports earlier than planned, reported Anadolu.
The Energy Commission has set a new average base tariff of 45.40 sen/kWh for RP4, slightly lower than before, bringing overall electricity costs down by up to 19% compared to the previous regulatory period
