Business and Finance

The ringgit closed higher against the US dollar

RINGGIT closed higher against the United States (US) dollar on Thursday following the US Federal Reserve (Fed) raising interest rates by another 25 percentage points. At 6pm, the ringgit was at 4.2445/2490 against the US dollar from 4.2655/2700 at Tuesday’s close. Managing Partner of SPI Asset Management, Stephen Innes said, the US dollar was badly …

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The value of the ringgit is high compared to the dollar

VALUE ringgithigher against the US dollar this morning following an encouraging move from the United States (US) Federal Reserve (Fed) to slow its rate of interest rate hikes at its recent meeting. At 9am, the ringgit strengthened to 4.2280/2350 against the US dollar from 4.2655/2700 on Tuesday. SPI Asset Management Managing Partner Stephen Innes said …

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The gold market is expected to trade low this year

THE MARKET gold in Malaysia is expected to trade lower this year in an environment of continued concern over the global recession coupled with a four-fold increase in the Overnight Policy Rate (OPR) by Bank Negara Malaysia in 2022, said Public Gold’s Executive Chairman, Datuk Wira Louis Ng. He said, when the central bank raises …

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Tadika Al Kauthar, USM signed an MoU on children’s development levels

NETWORK Tadika Al Kauthar signed a Memorandum of Understanding (MoU) with Universiti Sains Malaysia (USM) to train more children to improve psychology, speech and social development. The collaboration also enables the approximately 600 kindergarten teachers to benefit from knowledge exchange, service-oriented training and public forums. The Chief Operating Officer of Al Kauthar Kindergarten, Datin Nor …

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Ringgit closed lower due to external pressure

RINGGIT closed lower against the US dollar on Tuesday amid pressure from external developments including around Asian foreign exchange (FX), sluggish global oil prices and economic data from China. At 6pm, the ringgit closed at 4.2655/2700 against the US dollar from 4.2410/2460 seen at yesterday’s close. The managing partner of SPI Asset Management, Stephen Innes, …

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Bursa Malaysia closed at the lowest intraday level

STOCK EXCHANGE Malaysia closed at an intraday low on the last trading day of January, reflecting the negative performance of regional bourses and weak global market sentiment. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was down 13.89 points or 0.92 percent to 1,485.50 from 1,499.39 when it closed on Monday. It opened 5.60 …

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MITI secured RM13 billion in FDI through a mission to Singapore

MINISTRY International Trade and Industry (MITI) has successfully secured foreign direct investment (FDI) commitments of RM13 billion from three investors through its investment mission to Singapore. The minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz said, three companies namely Sea Ltd., Yondr Group and INSEACT, have collectively committed to invest RM13 billion in Malaysia. The …

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Malaysia is invited to export agricultural products to Russia

RUSSIA invited Malaysia to increase the export of agricultural products including tropical fruits and seafood products to the country. The Ministry of Agriculture and Food Security (MAFS) said in a statement that the effort was to increase bilateral cooperation between the two countries in the field of agriculture. “Russia and Malaysia are determined to increase …

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The IMF forecasts global growth in 2023 to 2.9 percent

GROWTH global is projected to shrink to 2.9 percent this year compared to an estimate of 3.4 percent made in 2022, said the International Monetary Fund (IMF). However, growth is expected to recover to 3.1 percent by 2024. Expectations for 2023 are 0.2 percentage points higher than predicted in the October 2022 World Economic Outlook …

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