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In fiscal 2015, IFC invests record US$1.8b in Turkey

In fiscal 2015, IFC invests record US$1.8b in Turkey

Istanbul, Aug 12: The International Finance Corporation (IFC), a member of the World Bank Group, had a third consecutive record year in Turkey, investing US$1.8b in projects to support sustainable energy and infrastructure development, improve municipal services, develop public-private partnerships (PPPs), promote local capital markets, and help Turkish companies increase competitiveness and impact. IFC also […]

August 12, 2015 | By | Reply More
Oil prices slide to fresh lows in Asian trade

Oil prices slide to fresh lows in Asian trade

WTI on Tuesday sank to its lowest level since March 2009, while Brent also fell in London, after China’s central bank moved to devalue its currency by nearly two percent against the US dollar. SINGAPORE: Oil prices extended losses in Asia on Wednesday as dealers worried about China’s economy following its surprise currency devaluation, while […]

August 12, 2015 | By | Reply More
RM at 3.99 against USD in early trade

RM at 3.99 against USD in early trade

KUALA LUMPUR: The ringgit continued its slump in early trade today, breaching the 3.99 level per dollar for the first time since the Asian financial crisis 17 years ago. At 9.30 am, the ringgit was quoted 0.8 per cent lower at 3.9920/9970 against the greenback from 3.9600/9630 at 5pm yesterday. Dealers said foreign banks continued […]

August 12, 2015 | By | Reply More
Short term rates to remain stable

Short term rates to remain stable

KUALA LUMPUR: Short-term interbank rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system. BNM estimated today’s liquidity at RM39.86 billion in the conventional system and RM10.93 billion in Islamic funds. The central bank will conduct a RM10.0 billion range-maturity auction for two days […]

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Bursa Malaysia opens lower

Bursa Malaysia opens lower

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today, tracking the performance of regional peers and Wall Street over China’s move to devaluate the yuan by two per cent, dealers said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.88 points down at 1,624.83, after opening 7.5 points easier at 1,629.21. […]

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Ringgit breaches 3.99 in early trade

Ringgit breaches 3.99 in early trade

KUALA LUMPUR: The ringgit continued its slump in early trade today, breaching the 3.99 level per dollar for the first time since the Asian financial crisis 17 years ago. At 9.30am, the ringgit was quoted 0.8% lower at 3.9920/9970 against the greenback from 3.9600/9630 at 5pm yesterday. Dealers said foreign banks continued to offload the […]

August 12, 2015 | By | Reply More
Bursa M'sia opens lower

Bursa M'sia opens lower

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower today, tracking the performance of regional peers and Wall Street over China’s move to devaluate the yuan by two per cent, dealers said. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.88 points down at 1,624.83, after opening 7.5 points easier at 1,629.21. […]

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Asia extends losses after shock yuan devaluation, dollar sought

Asia extends losses after shock yuan devaluation, dollar sought

TOKYO: Asian stocks and commodities extended losses on Wednesday, feeling the aftershocks of China’s surprise devaluation of the yuan, which hit US equities overnight and pushed down already-weak emerging currencies. This benefited the dollar, which rallied even against the safe-haven yen. What caught the equity, commodity and currency markets off balance was a boon to […]

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M’sia’s Hong Leong Bank plans up to $757 mln rights issue-sources

M’sia’s Hong Leong Bank plans up to $757 mln rights issue-sources

August 12, 2015 KUALA LUMPUR/SINGAPORE: Aug 11 Hong Leong Bank Bhd is planning to raise up to 3 billion ringgit ($757 million) in rights issues this year to strengthen its capital, two sources with direct knowledge of the matter told Reuters. The bank, Malaysia’s fifth largest by assets, is the last of its peers to […]

August 11, 2015 | By | Reply More
Oil prices skid on China currency move

Oil prices skid on China currency move

August 12, 2015 NEW YORK: US oil prices sank to their lowest level in more than six years Tuesday after a surprise currency devaluation in China raised worries about the world’s second-biggest economy. US benchmark West Texas Intermediate for delivery in September fell $1.88 to $43.08 a barrel on the New York Mercantile Exchange, the […]

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