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FEATURE-Malaysian urban dwellers 'reclaim' city land, one garden at a time

Amid the high rises that tower over the Malaysian capital, tiny community gardens are taking shape in a trend that has seen urban dwellers staking claims to the city - one plot at a time.

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REFILE-UPDATE 2-Malaysia's KLK offers $372 mln for majority stake in IJM Plantations

Mei Mei Chu
(Corrects and clarifies mention of “loss-making” in paragraph 11)
KUALA LUMPUR, June 9 (Reuters) - Malaysian palm oil giant Kuala Lumpur Kepong (KLK) Bhd has proposed to acquire IJM Corporation Bhd’s entire stake in IJM Plantations Bhd for 1.53 billion ringgit ($371.72 million) in cash, the companies said on Wednesday.
IJM Corp said it has received a letter from KLK, one of the largest palm oil planters in the country, offering to acquire its 56.2% equity holding at 3.10 ringgit per share.
The construction group said it has agreed in principle to finalise terms of the proposed acquisition with KLK.
“After having deliberated on the merits of the offer, the board is in principle agreeable to finalise the terms and conditions with KLK ... for the execution of the sale and purchase agreement,” it said.

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McConnell says Republicans hoping for infrastructure deal with Biden

U.S. Senator Mitch McConnell said on Thursday that Republicans are still hoping to reach a bipartisan agreement with President Joe Biden on an infrastructure package of "maybe $1 trillion" that would be fully paid for.

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Biden offers to drop corporate tax hike proposal -source

U.S. President Joe Biden offered to scrap his proposed corporate tax hike during negotiations with Republicans on an infrastructure package, a source familiar with the matter said on Thursday, in what would be a major concession by the Democratic president as he works to...

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Biden's new proposals for corporate minimum tax, infrastructure spending

By Reuters Staff
3 Min Read
NEW YORK (Reuters) - U.S. President Joe Biden offered to scrap his proposed 28% corporate tax hike during negotiations with Republicans on an infrastructure package, two sources familiar with the matter said on Thursday, in what would be a major concession by the Democratic president as he works to hammer out a deal.
FILE PHOTO: U.S. President Joe Biden delivers remarks at Joint Base Langley-Eustis in Hampton, Virginia, U.S. May 28, 2021. REUTERS/Ken Cedeno
Biden offered to instead set a minimum tax rate that companies should pay at 15%, sources said. In return, Republicans would have to agree to at least $1 trillion in new infrastructure spending, versus the president’s original proposal for a 2.25 trillion package.

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Italy to approve reform decree to unlock EU Recovery funds

* Draghi to have extensive powers to carry out investment plan

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Montenegro's Chinese-funded highway to replace 'death road'

By Reuters Staff
3 Min Read
SMOKOVAC, Montenegro, June 1 (Reuters) - Montenegro’s new Chinese-funded highway has become a huge financial burden and political football but it is also a long overdue replacement of what Montenegrans have nicknamed “death road”.
A NATO member and a European Union membership candidate, Montenegro borrowed 809 million euros ($990 million) from China’s Export-Import Bank in 2014 to pay for 85% of the first section of the road, which eventually will link the Adriatic port of Bar and Montenegro’s landlocked neighbour Serbia.
The loan sent Montenegro’s debt soaring to 97% of economic output. Last week, finance minister Milojko Spajic called it the most expensive highway in the world although he said the country had the funds to repay the debt.

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Italy to approve reform decree to unlock EU Recovery funds

* Draghi to have extensive powers to carry out investment plan

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Australia Q1 business investment booms in boost to economy

Australian business investment jumped by the most in almost a decade in the first quarter as businesses took advantage of tax breaks to buy new machinery, suggesting economic growth could also beat forecasts.

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UPDATE 1-Australia Q1 business investment booms in boost to economy

* Positive for long-term growth, productivity (Adds detail, reaction)

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