RSSCategory: News

Ringgit's fall not due to M'sia's dependence on oil and gas, says Mustapa

Ringgit's fall not due to M'sia's dependence on oil and gas, says Mustapa

KOTA BARU: The weakening of the ringgit is not due to Malaysia’s economy being overly dependent on the oil and gas industry as claimed, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said. On the contrary, he said the devaluation of the ringgit to 3.92 against the US dollar (on Friday) was due to […]

August 9, 2015 | By | Reply More
‘Sharing economy’ surge creates labor conundrum

‘Sharing economy’ surge creates labor conundrum

Politicians are taking notice. Democratic presidential front-runner Hillary Clinton said recently she would “crack down on bosses who exploit employees by misclassifying them as contractors.” WASHINGTON: They drive for Uber, deliver groceries for Instacart, run errands for TaskRabbit, and rent spare rooms on Airbnb. Are these the new, empowered participants in the “sharing economy,” or […]

August 9, 2015 | By | Reply More
Athens in ‘intense’ talks to avoid another loan default

Athens in ‘intense’ talks to avoid another loan default

BRUSSELS: Greece and its creditors were involved in “intense talks” over the weekend to agree a new bailout before the debt-ridden country must repay 3.4 billion euros ($3.7 billion) to the European Central Bank on August 20. European officials said sticking points still remain despite the progress being made, with a “generally positive reception… towards […]

August 8, 2015 | By | Reply More
China’s July exports, imports plunge, causing more worry for economy

China’s July exports, imports plunge, causing more worry for economy

SHANGHAI, Aug 8 ― China’s foreign trade performance worsened in July with both exports and imports falling on an annual basis, customs said today, spelling more worry for the world’s second largest economy. Exports plunged 8.3 per cent year-on-year to US$195.10 billion (RM766.9 billion) while imports dropped 8.1 per cent to US$152.07 billion, it said […]

August 8, 2015 | By | Reply More
Bursa expected to continue downtrend next week

Bursa expected to continue downtrend next week

KUALA LUMPUR, Aug 8 ― Bursa Malaysia is expected to continue its downtrend next week on weak catalysts, as crude palm oil, gold and the West Texas Intermediate (WTI) crude oil will be under pressure. Affin Hwang Investment Bank Vice-President and Head of Retail Research Datuk Dr Nazri Khan Adam Khan told Bernama all these […]

August 8, 2015 | By | Reply More
Ringgit expected to fall further against dollar next week

Ringgit expected to fall further against dollar next week

KUALA LUMPUR, Aug 8 ― The ringgit is expected to depreciate further against the US dollar next week, as falling commodity prices coupled with domestic political development will hurt investor confidence further, a dealer said. The dealer said consistent talks over a possible US interest rates hike next month has prolonged the greenback’s strength, with […]

August 8, 2015 | By | Reply More
Focus on Fed, euro zone’s economic health

Focus on Fed, euro zone’s economic health

WASHINGTON: The search for clues to whether the Federal Reserve will raise U.S. interest rates in September for the first time in nearly a decade is set to intensify next week. U.S. employment rose at a steady clip in July and wages rebounded after unexpectedly stalling in June, signs of an improving economy that could […]

August 8, 2015 | By | Reply More
Ringgit to ease further against US dollar next week

Ringgit to ease further against US dollar next week

KUALA LUMPUR: The ringgit is expected to depreciate further against the US dollar next week, as falling commodity prices coupled with domestic political development will hurt investor confidence further, a dealer said. The dealer said consistent talks over a possible US interest rates hike next month has prolonged the greenback’s strength, with most emerging Asian […]

August 8, 2015 | By | Reply More
Emerging-market currencies, stocks slump on Fed outlook

Emerging-market currencies, stocks slump on Fed outlook

NEW YORK, Aug 8 ― Emerging-market currencies posted a seventh straight weekly decline and stocks slumped as data showing the US economy continued to strengthen bolstered the case for the Federal Reserve to raise interest rates. A Bloomberg gauge tracking 20 developing-nation currencies slid 0.9 per cent in the five days through yesterday. The ruble […]

August 8, 2015 | By | Reply More
BNM short-term rates to remain stable next week

BNM short-term rates to remain stable next week

KUALA LUMPUR, Aug 8 ― Short-term interbank rates are expected to remain stable next week as Bank Negara Malaysia (BNM) continues to intervene to stabilise the money market. The central bank is expected to continue its intervention with daily tenders to mop up excess funds in the market, said a dealer. For the week just-ended, […]

August 8, 2015 | By | Reply More