From Malaysia’s oil sector to China’s fiscal tightening, global forces are reshaping jobs, trade, and tax policy.

H2: Malaysia

• Petronas cuts 5,000 jobs as part of “Petronas 2.0”
  
• RM55.1 billion profit in 2024, down 32%
  
• Court dismisses delay in Sarawak payment case
  

H2: International

• Trump-Xi call reopens rare earth negotiations
  
• US hopeful on easing tensions and trade flow
  
• OpenAI exposes new Chinese misuse of ChatGPT
  

H2: Asia

• China expands income tax efforts to middle-class offshore investors
  
• Authorities now targeting investment income, employee stock options, and dividends
  
• Revenue pressure tied to deflation, US tariffs, and slowing growth

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