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LABUAN: The Borneo Flora Festival (BFF) 2025, which kicks off tomorrow, is already delivering strong economic momentum across Labuan, drawing thousands of visitors for its five-day floral and cultural extravaganza. Minister in the Prime Minister’s Department (Federal Territories), Datuk Seri Dr Zaliha Mustafa, said the scale of the event has triggered a major local mobilisation effort, benefiting businesses and communities throughout the island. “We’re seeing a surge of visitors arriving in Labuan, and this is directly translating into business for local hotels, restaurants, homestay operators, and even homeowners who are now opening up their residences to accommodate the demand,” she told Bernama after touring the final preparations at the Labuan International Sea Sports Complex today. Preliminary estimates suggest the festival could generate over RM20 million in revenue for local traders and businesses, driven by strong demand for goods, services, and accommodations. “We’re expecting over 50,000 visitors over the five days. Based on our calculations, each is projected to spend around RM400 during their stay,” she added. Hosted in the heart of Labuan town, the BFF features vibrant floral displays, cultural performances, traditional craft showcases, and participation from regional and international delegates — including representatives from Kalimantan, Indonesia, as well as dignitaries from Sabah and Sarawak. Adding royal prestige to the event, Her Majesty the Raja Permaisuri Agong will officiate the opening ceremony, accompanied by the Prime Minister’s spouse and the wives of the Yang di-Pertua Negeri of Sabah and Sarawak. “This isn’t just a tourism celebration — it’s a powerful economic catalyst,” Dr Zaliha said. “It’s creating income opportunities across logistics, hospitality, transport, food services, and the cultural economy.” She also praised the joint efforts of Labuan Corporation, the Federal Territories Department, Kuala Lumpur City Hall, Putrajaya Corporation, and local community groups in preparing the island for the visitor influx. The festival is part of the Federal Territories’ broader strategy to position Labuan as a key cultural and tourism hub, with more major events planned to further drive economic development. Local stakeholders have reported sharp increases in preorders for traditional foods, floral souvenirs, boat transport services, and private shuttles. “This is a timely boost to Labuan’s economic ecosystem,” Dr Zaliha added. “The active involvement of the community — from homeowners turning their spaces into homestays to small vendors scaling up supply — shows how inclusive and impactful this event is.” The Borneo Flora Festival 2025 will run from July 26 to 30.

Jeff Bezos has completed the sale of 25 million Amazon.com Inc shares, raking in nearly US$5.7 billion (RM24.03 billion) since late June—shortly after his wedding in Venice. The offloading began around his nuptials, starting with a US$737 million sale. According to a Securities and Exchange Commission (SEC) filing on Friday, Bezos wrapped up the plan this week, selling the final 4.2 million shares on Wednesday and Thursday for approximately US$954 million. The divestment was carried out under a pre-arranged 10b5-1 trading plan adopted earlier this year. These plans are often used by corporate insiders to ensure compliance with insider-trading regulations. The sales come as Amazon stock has surged 38% since its April low. The company is scheduled to announce earnings next week, with investors closely watching the returns on its aggressive investments in artificial intelligence. Despite the sale, Bezos remains Amazon’s largest individual shareholder, holding roughly 884 million shares, or over 8% of the company. His Amazon stake remains the cornerstone of his US$252.3 billion net worth, ranking him as the world’s third-richest individual, according to the Bloomberg Billionaires Index. Since 2002, Bezos has sold more than US$50 billion worth of Amazon shares. In 2024 alone, he sold 75 million shares for US$13.6 billion. The proceeds typically fund his other ventures, such as space exploration firm Blue Origin, and philanthropic efforts—he has donated shares worth approximately US$190 million so far in 2025. Bezos’ recent stock sale outpaces other major insider divestitures this year, including Oracle CEO Safra Catz’s US$2.5 billion sale and Dell Technologies’ Michael Dell, who sold US$1.2 billion worth of shares.

SINGAPORE, Singapore Airlines (SIA) has redesignated Peter Seah Lim Huat as a non-independent, non-executive director following its 53rd Annual General Meeting (AGM) held on July 25. Seah, who joined SIA’s board on Sept 1, 2015, and was appointed chairman on Jan 1, 2017, will continue to serve as chairman. He also remains a member of the board’s Compensation and Industrial Relations Committee as well as the Nominating Committee. In line with the AGM resolutions, Goh Swee Chen has been named lead independent director and chairperson of the Nominating Committee, while Jeanette Wong Kai Yuan has been appointed chairperson of the Compensation and Industrial Relations Committee. A veteran banker with 33 years of experience, Seah retired as vice chairman and CEO of the former Overseas Union Bank in 2001. He currently serves as chairman and director of DBS Group Holdings, a role he assumed in May 2010 after joining the board in November 2009. He is also a board director at GIC and deputy chairman of STT Communications.

MALE, Indian Prime Minister Narendra Modi has announced a US$565 million credit line to support the Maldives’ defence and infrastructure development during his official visit to the island nation on Friday. The move underscores India’s commitment to its strategically located neighbour and aims to deepen bilateral ties amid regional geopolitical tensions. On his first trip to the Maldives since securing a third term, Modi reaffirmed India’s role as the Maldives’ “first responder” and a steadfast partner in promoting peace and stability in the Indian Ocean. “India will continue to assist the Maldives in enhancing its defence capabilities,” said Modi. “Peace, stability, and prosperity in the Indian Ocean are common goals we share.” India’s renewed engagement comes amid concerns over the Maldives’ warming ties with China, especially after the 2023 election of President Mohamed Muizzu, who initially took an anti-India stance. Since assuming office, Muizzu oversaw the withdrawal of Indian military personnel who had been operating search-and-rescue helicopters and surveillance aircraft in the archipelago. However, he has recently adopted a more conciliatory tone, signalling a willingness to strengthen bilateral relations. Modi’s visit saw the launch of several Indian-backed infrastructure projects, including road upgrades and a 4,000-unit housing scheme. President Muizzu welcomed the financial support, stating that the credit line would go toward enhancing the country’s defence capabilities, as well as healthcare, housing, and education. “India’s continued supply of essential goods is a vital element of our cooperation,” Muizzu noted. The visit coincides with the Maldives’ 50th Independence Day celebrations, which Modi attended before departing the country on Saturday. The Maldives, known for its luxury resorts and pristine beaches, has become a focal point of strategic competition between India and China—its two largest bilateral lenders. The archipelago of 1,192 coral islands stretches across vital global shipping routes, making it a key player in the geopolitics of the Indian Ocean. India continues to view the Maldives, along with Sri Lanka, as part of its traditional sphere of influence.