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KUALA LUMPUR – Prime Minister Anwar Ibrahim on Friday unveiled an expanded RM388 billion (S$118 billion) government budget for this year which focused on supporting Malaysias lower-income groups, taxing the wealthy and keeping the national debt in check.

The Pakatan Harapan chief, who is also Finance Minister, is taking advantage of higher government revenue to raise spending, after Malaysias economy performed better than expected last year with economic growth at 8.7 per cent.

Budget 2022 was valued at RM332.1 billion but actual spending, largely due to a record RM80 billion in subsidies resulting from soaring fuel costs, came in at RM395.2 billion. Stripping out the subsidy element expected to be capped at RM64 billion this year, thanks to lower oil prices the governments expenditure this year is set to exceed that of last year.

Some of the expenditure will be channelled towards the lower-income groups in the form of lower personal income taxes, tax incentives for small enterprises and RM8 billion in cash handouts to the poorest 60 per cent.

Datuk Seri Anwar justified the additional spending in the face of global economic uncertainties, warning that despite a strong recovery last year, Malaysias growth has been trending downwards. On a quarter-on-quarter basis, growth was 3.8 per cent, 3.5 per cent, 1.9 per cent and -2.6 per cent across 2022.

As income and wealth is concentrated among the upper classes and wealthy elite, it is appropriate that redistribution is focused on the poor and middle-class, he said.

Fridays Budget was Mr Anwars first since taking office after the general election in November.

Although national polls have already taken place, Budget 2023 is still seen as an election budget because six states are expected to head to the ballot box in July, with about half of Malaysias electorate casting their vote.

The result of this vote will have a huge impact on the stability of Mr Anwars administration, especially if its political partner Umno does not improve on its poor showing in November. The so-called unity government was cobbled together after the election resulted in Malaysias first ever hung Parliament.

So far, government finances appear to be in Mr Anwars favour.

The fiscal deficit was 5.6 per cent of GDP last year, lower than the targeted 6 per cent, thanks to the 8.7 per cent economic growth which exceeded projections of 6.5 to 7 per cent.

A larger economy will also boost government coffers, which means Mr Anwar can still aim to trim the deficit to 5 per cent this year despite his ambitious spending plan and gross domestic product growth expected to moderate to 4.5 per cent this year.

This growth estimate is higher than World Bank and Fitch projections of 4 per cent and Mr Anwar was optimistic that efforts to implement reforms and Budget 2023 measures would see Malaysia surpass his own 4.5 per cent target.

He also added that while revenue estimates of RM291.5 billion for 2023 are lower than the RM294.4 billion collected last year, this is before taking into account additional sources that will be announced in coming weeks. More On This Topic Malaysia to focus on living costs, raising wages as growth slows ahead of looming state polls Malaysian PM Anwar rules out reintroducing GST despite high debt The Premier did not offer more details on these measures but said in his speech that a tax on luxury goods as well as e-cigarettes and vaping would be introduced.

This is on top of a tax hike for 150,000 taxpayers who earn over RM100,000 a year.

He also committed to continue reducing the Budget deficit to 3.2 per cent in 2025, stressing at the start of his speech that his government had inherited debt which is expected to breach RM1.2 trillion this year, or 60 per cent of GDP. Servicing the interest alone would require RM46 billion, or 16 per cent of revenue.

The Premier also focused on corruption and administrative leakages, revealing that RM10 billion in diesel subsidies was misappropriated last year. Meanwhile, RM22 billion in flood mitigation and deals to empower Bumiputera contractors handed out through direct negotiations were reopened for tender bids, with expected savings of RM3 billion.

This is proof of the excesses… that must be stopped if we want the nation to leap forward, he said.

Malaysias fiscal trajectory is closely watched by the marketplace after two years of Covid-19 restrictions, when the government was forced to deepen borrowings to pay for welfare and economic stimulus packages.

Development expenditure will surge this year to RM99 billion including a standard RM2 billion reserve for unforeseen circumstances which was classified under development for the first time from RM71.6 billion in 2022, with the largest segment to be spent on improving transport infrastructure including for urban rail networks, roads and ports. More On This Topic What Anwar needs to do to tackle Malaysia's rising cost of living Malaysias economy a tale of two halves

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Stars’ Hintz remains game-time call for Game 4

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Stars' Hintz remains game-time call for Game 4

EDMONTON, Alberta — Dallas Stars forward Roope Hintz remains a game-time decision ahead of Game 4 of the Western Conference Final on Tuesday.

The club’s top skater has been sidelined since Game 2 in the series when he took a slash to the left leg from Edmonton Oilers defenseman Darnell Nurse. Hintz took part in warmups before Game 3 on Sunday but exited early and was ruled out. He was back on the ice for Dallas’ optional practice on Monday and told reporters he was “feeling good” and “trying to do everything I can” to get back in for Game 4.

It was early in the third period of Game 2 when Hintz — parked in front of the Oilers’ net — shoved Nurse from behind, and the Oilers’ blueliner responded by swinging his stick at Hintz’s leg. Hintz was down on the ice for several minutes after that before being helped off by Lian Bichsel and Mikael Granlund.

Nurse received a two-minute penalty for the slash on Hintz but no supplementary discipline from the league. The blueliner addressed the incident for the first time Tuesday, explaining it didn’t come with malicious intent.

“I was backing up to net and I got shot in the back. And I think it was just a natural reaction [to respond],” Nurse said. “It’s probably a play that everyone in this room, whether you’re a net-front guy or D man, probably happens a dozen, two dozen times in a year. It’s unfortunate that I must have got [Hintz] in a bad spot. You don’t want to go out there and hurt anyone. But it was just one of those plays that happens so often.”

Having Hintz unavailable hurt the Stars in Game 3, a 6-1 drubbing by the Oilers that put Dallas in a 2-1 hole in the best-of-7 series. Hintz is the Stars’ second-leading scorer in the postseason, with 11 goals and 15 points through 15 games. He was hopeful when taking warmups Sunday that he’d feel good enough to get back in but a quick discussion with the training staff made it clear he wasn’t ready.

Coach Pete DeBoer has since classified Hintz’s status as day-to-day.

“Of course you want to go every night, but sometimes you just can’t,” said Hintz. “I don’t know how close I [was to playing]. But I have played many years [and I] know when it’s good and when it’s not. I should be good to know that [when] it comes to that decision.”

The Oilers will have some lineup changes of their own to sort through in Game 4. Connor Brown is out after he took a hit from Alexander Petrovic in Game 3; he’ll be replaced by the incoming Viktor Arvidsson. Calvin Pickard — injured in Edmonton’s second-round series against Vegas — will return to back up for Stuart Skinner. And Edmonton continues to wait on defenseman Mattias Ekholm, who is getting closer to coming back from a lower-body injury.

Puck drop for Game 4 is 8 p.m. ET on Tuesday.

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‘That’s wonderful’: Canes finally see ECF skid end

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'That's wonderful': Canes finally see ECF skid end

SUNRISE, Fla. — Carolina Hurricanes defenseman Jaccob Slavin is happy to never get another question about his team’s record-setting NHL playoff losing streak.

“Wonderful. That’s wonderful,” he said after Carolina’s 3-0 win over the Florida Panthers in Game 4 of the Eastern Conference finals on Monday night. “The guys in here worked hard tonight and that’s all you can ask for.”

The Hurricanes avoided a sweep by the Panthers, sending the series back to Raleigh, North Carolina, for Game 5 on Wednesday night. In the process, Carolina snapped a 15-game losing streak in the conference finals — the longest losing streak by a team in a playoff round other than the Stanley Cup Final in NHL history.

The Hurricanes’ last win in the Eastern Conference finals was in Game 7 against the Buffalo Sabres in 2006, a game that saw current Carolina coach Rod Brind’Amour score the winning goal.

“It’s been a story. So, yeah, it’s nice to not have to talk about that [anymore],” Brind’Amour said.

When the streak began in 2009, Carolina captain Jordan Staal was helping the Pittsburgh Penguins to a conference finals sweep of the Hurricanes. He said the win over Florida in Game 4 showed how much pride was in the Canes’ locker room, as they refused to allow the Panthers to end their season.

“There’s a lot of guys that didn’t want to go home,” Staal said. “We know we have a huge hill to climb here. We’ve got a great team on the other side that is going to come back with a better effort. It’s a great challenge.”

Florida coach Paul Maurice, whose team had a chance to advance to a third straight Stanley Cup Final with a victory, gave credit to the Hurricanes for a solid and disruptive game while acknowledging that his team could have gotten to its own game better.

“I haven’t been nearly as down on that hockey team as you fine people have been over the last three games, and I won’t be as down on my team tonight,” he said. “[The Hurricanes] were good. They had good sticks. They had good quickness. You see that happen more often when the possessor of the puck’s feet are not moving.”

Three factors changed the vibe for Carolina in Game 4.

Goalie Frederik Andersen had his second shutout of the postseason after being pulled in Game 2 and benched for Game 3. Andersen was 7-2 with a .937 save percentage and a 1.36 goals-against average in nine playoff games before facing Florida. In two games against the Panthers, he gave up nine goals on 36 shots (.750, 5.54). Andersen had given up just 12 goals in his previous nine postseason games.

In Game 4, he was a great last line of defense, stopping all 20 shots.

After the game, Andersen declined to discuss being benched.

“I don’t really want to talk about my feelings. It’s not about that. It’s about the team and trying to put the best lineup on the ice that they feel like gets the job done. So I’m ready for when I’m called upon and glad to be able to play,” he said.

Andersen played a key role in another factor: the Carolina penalty kill. The Panthers were 4-for-5 on the power play in the first two games of the conference finals. The Hurricanes killed off four power plays in each of the past two games.

“Our goalie was great when he needed to be. The penalty kill was phenomenal,” Brind’Amour said. “We gave ourselves a chance, and that’s all we can ask.”

Perhaps most crucially, the Hurricanes scored the first goal. Carolina is now 6-0 when scoring first and 3-5 when it trails first in these playoffs. In the regular season, the Hurricanes were 30-7-2 when scoring first and 17-23-3 when trailing first.

They scored first and then played the type of close, low-scoring game they excel at. As winger Taylor Hall said before Game 4: “We’re thinking about winning the game 1-0. If it’s close, then we’re in a good spot.”

“It’s been a story. So, yeah, it’s nice to not have to talk about that [anymore].”

Rod Brind’Amour on Carolina snapping 15-game losing streak in conference finals

Forward Logan Stankoven opened the scoring at 10:45 of the second period, giving Carolina its first lead of the series. Rookie defenseman Alexander Nikishin made a terrific backhand pass across the neutral zone to spring Stankoven ahead of the Panthers’ defense, and he beat goalie Sergei Bobrovsky for his fifth goal of the playoffs.

Stankoven said he called for the pass from Nikishin, who was playing in his third postseason game.

“The play happened so fast and it was a great feed by him to make that play off the turnover. It all starts with him,” said Stankoven, who was acquired from the Dallas Stars in the Mikko Rantanen deadline trade.

It remained 1-0 until Sebastian Aho and Staal added empty-net goals in the last 2:11 for the 3-0 win.

Slavin said Game 4 was in the Carolina’s comfort zone.

“A thousand percent. It was 1-0 up until the end there. You can’t get any tighter than that,” he said.

With that, the Hurricanes ended their historic losing streak and turned their attention to making more NHL history. Only four teams in the history of the Stanley Cup playoffs have rallied to win a best-of-seven series after trailing 3-0, although two have done it in the past 15 years (Philadelphia Flyers in 2010 and Los Angeles Kings in 2014).

“You watched the way we played tonight. Everyone put their heart on the line,” Slavin said. “We know we’ve got a good group in here. We know we’ve got all the pieces. We just have to bring it every night.”

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ZKPs can prove I’m old enough without telling you my age

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<div>ZKPs can prove I'm old enough without telling you my age</div>

<div>ZKPs can prove I'm old enough without telling you my age</div>

Opinion by: Andre Omietanski, General Counsel, and Amal Ibraymi, Legal Counsel at Aztec Labs

What if you could prove you’re over 18, without revealing your birthday, name, or anything else at all? Zero-knowledge proofs (ZKPs) make this hypothetical a reality and solve one of the key challenges online: verifying age without sacrificing privacy. 

The need for better age verification today

We’re witnessing an uptick in laws being proposed restricting minors’ access to social media and the internet, including in Australia, Florida, and China. To protect minors from inappropriate adult content, platform owners and governments often walk a tightrope between inaction and overreach. 

For example, the state of Louisiana in the US recently enacted a law meant to block minors from viewing porn. Sites required users to upload an ID before viewing content. The Free Speech Coalition challenged the law as unconstitutional, making the case that it infringed on First Amendment rights.

The lawsuit was eventually dismissed on procedural grounds. The reaction, however, highlights the dilemma facing policymakers and platforms: how to block minors without violating adults’ rights or creating new privacy risks.

Traditional age verification fails

Current age verification tools are either ineffective or invasive. Self-declaration is meaningless, since users can simply lie about their age. ID-based verification is overly invasive. No one should be required to upload their most sensitive documents, putting themselves at risk of data breaches and identity theft. 

Biometric solutions like fingerprints and face scans are convenient for users but raise important ethical, privacy, and security concerns. Biometric systems are not always accurate and may generate false positives and negatives. The irreversible nature of the data, which can’t be changed like a regular password can, is also less than ideal. 

Other methods, like behavioral tracking and AI-driven verification of browser patterns, are also problematic, using machine learning to analyze user interactions and identify patterns and anomalies, raising concerns of a surveillance culture.

ZKPs as the privacy-preserving solution

Zero-knowledge proofs present a compelling solution. Like a government ID provider, a trusted entity verifies the user’s age and generates a cryptographic proof confirming they are over the required age.

Websites only need to check the proof, not the excess personal data, ensuring privacy while keeping minors at the gates. No centralized data storage is required, alleviating the burden on platforms such as Google, Meta, and WhatsApp and eliminating the risk of data breaches. 

Recent: How zero-knowledge proofs can make AI fairer

Adopting and enforcing ZKPs at scale

ZKPs aren’t a silver bullet. They can be complex to implement. The notion of “don’t trust, verify,” proven by indisputable mathematics, may cause some regulatory skepticism. Policymakers may hesitate to trust cryptographic proofs over visible ID verification. 

There are occasions when companies may need to disclose personal information to authorities, such as during an investigation into financial crimes or government inquiries. This would challenge ZKPs, whose very intention is for platforms not to hold this data in the first place.

ZKPs also struggle with scalability and performance, being somewhat computationally intensive and tricky to program. Efficient implementation techniques are being explored, and breakthroughs, such as the Noir programming language, are making ZKPs more accessible to developers, driving the adoption of secure, privacy-first solutions. 

A safer, smarter future for age verification

Google’s move to adopt ZKPs for age verification is a promising signal that mainstream platforms are beginning to embrace privacy-preserving technologies. But to fully realize the potential of ZKPs, we need more than isolated solutions locked into proprietary ecosystems. 

Crypto-native wallets can go further. Open-source and permissionless blockchain-based systems offer interoperability, composability, and programmable identity. With a single proof, users can access a range of services across the open web — no need to start from scratch every time, or trust a single provider (Google) with their credentials.

ZKPs flip the script on online identity — proving what matters, without exposing anything else. They protect user privacy, help platforms stay compliant, and block minors from restricted content, all without creating new honeypots of sensitive data.

Google’s adoption of ZKPs shows mainstream momentum is building. But to truly transform digital identity, we must embrace crypto-native, decentralized systems that give users control over what they share and who they are online.

In an era defined by surveillance, ZKPs offer a better path forward — one that’s secure, private, and built for the future.

Opinion by: Andre Omietanski, General Counsel, and Amal Ibraymi, Legal Counsel at Aztec Labs.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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