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Ringgit opens higher versus greenback

Ringgit opens higher versus greenback

KUALA LUMPUR: News on the overnight policy rate cut by the Bank Negara Malaysia, aimed at spurring Malaysia’s economic growth, somewhat lent support to the ringgit which opened higher on Thursday against the US dollar as more buying demand emerged for the local currency, dealers said. At 9 am, the local unit was quoted at […]

July 14, 2016 | By | Reply More
Pound falls as new British government named

Pound falls as new British government named

NEW YORK: The pound reversed course Wednesday and gave up much of previous gains after a new British government was formed by Prime Minister Theresa May with Philip Hammond as finance minister. The pound had surged Tuesday on news of a quick political handover in London after the shock vote to exit the European Union […]

July 14, 2016 | By | Reply More
OPR cut will ease property buyers burden of servicing home loans, says SP Setia CEO

OPR cut will ease property buyers burden of servicing home loans, says SP Setia CEO

KUALA LUMPUR: Bank Negara Malaysia (BNM)’s decision to cut the overnight policy rate (OPR) will ease the burden of property purchasers servicing their home loans. In a statement today, SP Setia Bhd Chief Executive Officer (CEO)/President, Datuk Khor Chap Jen, said the purchasers’ monthly repayments for their their loans will be lower and they will […]

July 13, 2016 | By | Reply More
OPR cut will not adversely impact ringgit: Affin Hwang

OPR cut will not adversely impact ringgit: Affin Hwang

KUALA LUMPUR: The cut in the key interest rate by Bank Negara Malaysia (BNM) will not have any adverse impact on the ringgit, said Affin Hwang Investment Bank Vice-President and Head of Retail Research Datuk Dr Nazri Adam Khan. However, he did not discount the fact that it could still boost the ringgit, provided there […]

July 13, 2016 | By | Reply More
Market reacts positively to BNM's move to cut OPR

Market reacts positively to BNM's move to cut OPR

KUALA LUMPUR: The FBM KLCI has reacted positively to the Bank Negara Malaysia’s (BNM) decision to reduce the Overnight Policy Rate (OPR) by 25 basis points to three per cent from 3.25 per cent at its Monetary Policy Committee meeting today. The index closed higher at 1,660.39 points from the 1,654.37 points recorded at early […]

July 13, 2016 | By | Reply More
KL shares move into positive territory at mid-afternoon

KL shares move into positive territory at mid-afternoon

KUALA LUMPUR: Bursa Malaysia moved into positive territory at mid-afternoon today on increased buying appetite in tandem with the firmer regional bourses, dealers said. At 3.02 pm, the benchmark index, stood at 1,654.81, up 0.84 of-a-point after opening 0.46 of-a-point easier at 1,653.51. A dealer said the bourse was lifted by the gains on regional […]

July 13, 2016 | By | Reply More
Bank Negara reduces OPR rate from 3.25pct to 3pct

Bank Negara reduces OPR rate from 3.25pct to 3pct

KUALA LUMPUR: Bank Negara Malaysia has announced a surprise cut in borrowing costs today. The key benchmark interest rate or the Overnight Policy Rate has been lowered to 3.0 per cent from 3.25 per cent. The monetary policy committee, chaired by BNM governor Datuk Muhammad Ibrahim, has warned that the slow global growth pace and […]

July 13, 2016 | By | Reply More
AirAsia X once again bags two Skytrax World Airline awards

AirAsia X once again bags two Skytrax World Airline awards

KUALA LUMPUR: AirAsia X Bhd has won two awards for fourth consecutive year at the 2016 Skytrax World Airline Awards at the Farnborough International Airshow. The long-haul budget airline was once again named the ‘World’s Best Low-Cost Airline Premium Cabin’ and ‘World’s Best Low-Cost Airline Premium Seat’. In a statement today, AirAsia X said the […]

July 13, 2016 | By | Reply More
BNM likely to keep OPR at 3.25pc

BNM likely to keep OPR at 3.25pc

KUALA LUMPUR: Bank Negara Malaysia is expected to keep the Overnight Policy Rate (OPR) unchanged at 3.25 per cent but analysts say the recent Brexit vote (Britain leaving the European Union) has tilted the odds towards a cut in borrowing costs as early as September. Growth momentum has been slowing in the Malaysian economy, hence […]

July 13, 2016 | By | Reply More
'TNB wants market rate for deal'

'TNB wants market rate for deal'

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) wants YTL Power International Bhd to pay the market rate for the land lease of its power plants in Paka, Terengganu and Pasir Gudang, Johor, before signing the new power purchase agreement (PPA), said sources. The land lease is the crux of the dispute that prompted the national utility […]

July 13, 2016 | By | Reply More