Malaysia to cut fuel subsidies.

Malaysia to cut fuel subsidies. Malaysia will abolish subsidies for petrol and diesel from December 1, the government said, taking a bold step that could potentially save the government some 20 billion ringgit ($5.97 billion) annually.Malaysia joins Indonesia and India in cutting fuel subsidies amid a sharp decline in oil prices, ending decades-long policies of cheap fuel that have contributed to fiscal deficits.Prime...