Oil prices set for biggest weekly loss in over a month on demand worries
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Oil futures are set for a weekly drop of over 6% due to concerns about demand from China's slowing economy and easing supply risks from the Middle East conflict; Brent crude futures fell 33 cents to $74.12 a barrel, while U.S. West Texas Intermediate crude dropped 26 cents to $70.41 a barrel; OPEC and the International Energy Agency cut forecasts for global oil demand in 2024 and 2025; China's economy grew at its slowest pace since early 2023 in Q3; U.S. retail sales increased slightly more than expected in September; market participants are monitoring potential demand recovery in China following stimulus measures; tensions in the Middle East remain a concern, particularly with Hezbollah's escalation against Israel.

#Oil #Economy #China #BrentCrude #Wti #Opec #MiddleEast #RetailSales #Demand #Forecast

https://www.nst.com.my/business/economy/2024/10/1121956/oil-prices-set-biggest-weekly-loss-over-month-demand-worries


Investor optimism sees biggest jump since June 2020, survey shows
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Global investor optimism increased significantly in October 2024, marking the largest rise since June 2020, driven by Federal Reserve rate cuts, Chinese stimulus pledges, and expectations of a soft landing for the U.S. economy; Cash allocations fell to 3.9% from 4.2% in September, while equity allocations rose to a net 31% overweight; Bond allocations dropped to a net 15% underweight; The sentiment measure rose from 3.8 to 5.6; 47% of investors believe the upcoming U.S. election will impact trade policy; The survey was conducted from October 4 to October 10, 2024, with 231 participants managing $574 billion in assets.

#InvestorOptimism #FederalReserve #China #Economy #Survey #Bofa #Equity #Bond #UsElection #TradePolicy

https://www.nst.com.my/business/corporate/2024/10/1120093/investor-optimism-sees-biggest-jump-june-2020-survey-shows


US mulls capping Nvidia AI chips exports to some countries, Bloomberg News reports
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U.S. officials are considering limiting sales of advanced AI chips from Nvidia and other American companies on a country-specific basis; focus is on Persian Gulf countries; new approach aims to set a ceiling on export licenses for national security; discussions are in early stages; U.S. Commerce Department and Nvidia declined to comment; Intel and AMD did not respond; last month, a rule was unveiled easing shipments of AI chips to Middle Eastern data centers; under the rule, data centers can apply for Validated End User status for easier chip access; Biden administration expanded licensing requirements for exports to over 40 countries last year due to risks of diversion to China.

#Nvidia #AiChips #UsExports #NationalSecurity #CommerceDepartment #Intel #Amd #BidenAdministration #MiddleEast #ExportLicenses

https://www.nst.com.my/business/economy/2024/10/1119877/us-mulls-capping-nvidia-ai-chips-exports-some-countries-bloomberg


Ringgit strengthens against US dollar ahead of Budget 2025
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The ringgit opened higher at 4.2850/3010 against the US dollar on October 14, 2024, up from 4.2865/2910, driven by optimism regarding the government's fiscal discipline and a projected fiscal deficit below 4% of GDP for next year; Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted that the upcoming budget announcement would influence market sentiment; China's economy is under scrutiny, with inflation at 0.4% in September; the US Dollar Index (DXY) is at 103.021 points, indicating cautious trading for the ringgit; the ringgit also strengthened against the euro, Japanese yen, and British pound, while trading mixed against ASEAN currencies.

#Ringgit #UsDollar #Budget2025 #Malaysia #Economy #Inflation #FiscalPolicy #BankMuamalat #DrMohdAfzanizamAbdulRashid #Asean

https://www.nst.com.my/business/economy/2024/10/1119314/ringgit-strengthens-against-us-dollar-ahead-budget-2025


Building long-term resilience
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The Malaysian ringgit's strengthening reflects deeper structural dynamics; attributed to Bank Negara Malaysia's effective inflation management; National Energy Transition Roadmap (NETR) positions Malaysia for energy-demanding sectors; global financial landscape impacts ringgit's appreciation; U.S. Federal Reserve's interest rate decisions influence capital flow; Gross Fixed Capital Formation (GFCF) is crucial for sustainable economic growth; portfolio investments are volatile and transient; Malaysia must balance short-term financial inflows with long-term investments; geopolitical tensions in the Middle East could affect oil prices and global markets.

#MalaysianEconomy #Ringgit #BankNegaraMalaysia #Gfcf #Investment #FederalReserve #Netr #Geopolitics #Inflation #FinancialMarkets

https://www.nst.com.my/business/insight/2024/10/1119298/building-long-term-resilience%C2%A0


Focus on economy, not political noise
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Malaysia's economy is thriving with the ringgit's surge against the US dollar; foreign investments are increasing, with a proposed US$14.7 billion investment from US tech giants; tourist inflow is nearing pre-pandemic levels, bolstered by visa-free travel with China; Prime Minister Anwar Ibrahim emphasizes economic reforms, including a RM4 billion annual savings from diesel subsidy rationalization; the government faces challenges in further subsidy reductions; maintaining political stability is crucial for economic recovery; the article warns against being distracted by political issues, echoing Bill Clinton's phrase 'It's the economy, stupid!'

#Malaysia #Economy #Investment #Tourism #PoliticalStability #Subsidy #ForeignInvestment #AnwarIbrahim #Ringgit #Geopolitics

https://www.nst.com.my/opinion/columnists/2024/10/1118276/focus-economy-not-political-noise


US, Europe, China & other key Asian economies to provide FDI traction in Malaysia: UBS
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Malaysia's FDI inflow outlook remains positive for H2 2024; UBS Global Research cites traction from China, Europe, US, Japan, and South Korea; FDI concentrated in electrical and electronics sector, with interest in chemicals, green technology, machinery, and metal fabrication; Malaysia's political stability and fiscal responsibility attract investors; potential for Malaysia to become a regional data centre hub; implementation of global minimum tax in 2025 will have negligible impact on FDI competition; Malaysia's 40% local content criteria aligns with WTO standards; Malaysia to chair ASEAN in 2025, improving intra-trade opportunities; potential restart of negotiations with EU on EFTA Economic Partnership Agreement.

#Fdi #Malaysia #Ubs #Economy #Investment #Asean #Trade #Technology #Electronics #GlobalTax

https://www.nst.com.my/business/economy/2024/10/1117776/us-europe-china-other-key-asian-economies-provide-fdi-traction


OPR likely unchanged: Ringgit at 4.25 vs US dollar by year-end - Kenanga
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Bank Negara Malaysia (BNM) is expected to maintain the overnight policy rate (OPR) unchanged for the next 12 to 15 months due to subdued inflation and a stable economic outlook; Kenanga Investment Bank revised its year-end forecast for the ringgit to 4.25 against the US dollar from 4.42, citing favorable yield differentials and anticipated US Federal Reserve interest rate cuts; the market now expects two 25 basis point cuts by the Fed this year following strong US labor data in September; external risks such as geopolitical tensions and a potential US economic downturn remain concerns.

#BankNegaraMalaysia #Opr #Ringgit #Kenanga #UsDollar #EconomicOutlook #InterestRates #Inflation #GeopoliticalRisks #CurrencyForecast

https://www.nst.com.my/business/economy/2024/10/1116602/opr-likely-unchanged-ringgit-425-vs-us-dollar-year-end-kenanga


Focus on agritech investments in Budget 2025 to attract high-net worth individuals - Economist
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Malaysia should prioritize agritech investments in Budget 2025 to attract diverse investors, particularly family offices; Mohd Sedek Jantan, head of investment research at UOB Kay Hian Wealth Advisors, emphasizes the need for tax breaks and subsidies for agricultural R&D; Budget 2025 is set to be tabled on October 18, 2024; Malaysia has 754 ultra-high-net-worth individuals with a total net worth of US$30 million, expected to grow to 1,015 by 2028; globally, there are 426,330 ultra-high-net-worth individuals with a total wealth of US$49 trillion in 2023; agritech is crucial for sustainable agriculture amid climate change; traditional farming is insufficient to meet food demands; innovations like precision farming are vital; a stronger ringgit could enhance Malaysia's appeal as an investment destination; public-private partnerships and effective marketing are essential for attracting foreign investment.

#Agritech #Investment #Budget2025 #Highnetworth #Sustainability #Malaysia #FamilyOffices #EconomicPolicy #ClimateChange #Agriculture

https://www.nst.com.my/business/economy/2024/10/1115545/focus-agritech-investments-budget-2025-attract-high-net-worth


Ringgit seen holding steady against US dollar next week
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The ringgit is expected to trade between 4.21 to 4.22 against the US dollar next week; US non-farm payrolls (NFP) rose by 254,000 jobs in September; US unemployment rate decreased to 4.1% from 4.2%; Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid indicates stronger US jobs data may enhance dollar appeal; SPI Asset Management's Stephen Innes notes rising oil prices support US dollar strength; ringgit hit its highest level since April 2021 at 4.09 earlier in the week; on a Friday-to-Friday basis, ringgit fell to 4.2155/2240 from 4.1230/1280; ringgit traded lower against euro and British pound but gained against Japanese yen; ringgit slipped against ASEAN currencies including Singapore dollar and Philippine peso.

#Ringgit #UsDollar #Economy #BankMuamalat #NonfarmPayrolls #StephenInnes #MohdAfzanizamAbdulRashid #Currency #ForeignExchange #Asean

https://www.nst.com.my/business/economy/2024/10/1115464/ringgit-seen-holding-steady-against-us-dollar-next-week


'Narrow-minded thinking will sink us', says Anwar
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Prime Minister Datuk Seri Anwar Ibrahim warns against narrow-minded thinking and hasty decisions as threats to national progress; he emphasizes the need for unity, understanding, patience, and wisdom in decision-making; Anwar links national unity to economic prosperity, stating it is essential for building a sustainable economy; he made these remarks during the opening of the 64th International Al-Quran Recital and Memorisation Assembly on October 5, 2024; the assembly features 92 participants from 71 countries, with events running until October 12, 2024.

#AnwarIbrahim #Malaysia #Unity #Economy #QuranRecital #InternationalAssembly #PublicPolicy #Islam #Leadership #Narrowmindedness

https://www.nst.com.my/news/nation/2024/10/1115389/narrow-minded-thinking-will-sink-us-says-anwar


Ringgit reverses recent losses to close slightly higher against US dollar
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The ringgit closed at 4.2155/2240 against the US dollar on October 4, 2024, recovering from previous losses; it rose despite geopolitical risks in the Middle East and anticipation of US non-farm payrolls data; Brent crude oil price increased to US$78.3 per barrel; Bank Muamalat Malaysia Bhd's chief economist Dr. Mohd Afzanizam Abdul Rashid noted the conflict in the Middle East as a key risk factor; US non-farm payrolls expected to show an increase to 147,000 jobs in September from 142,000; the ringgit was mixed against other currencies, rising against the euro and Singapore dollar but lower against the yen and British pound.

#Ringgit #UsDollar #Economy #Malaysia #Forex #Banking #Geopolitics #NonfarmPayrolls #BrentCrude #Currency

https://www.nst.com.my/business/economy/2024/10/1114980/ringgit-reverses-recent-losses-close-slightly-higher-against-us


Dollar hits one-month peak to yen as Fed seen taking time with rate cuts
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The dollar rose to a one-month high of 146.575 yen on October 3, 2024, supported by strong U.S. job market data; private payrolls increased by 143,000 jobs in September, raising expectations for upcoming non-farm payrolls; Japan's new prime minister indicated no readiness for additional rate hikes, leading to yen selling pressure; the dollar index reached 101.70, a three-week high; traders estimate 34.6% odds of a 50 basis-point rate cut on November 7, down from 57.4% a week prior; geopolitical tensions arose after Iran launched 180 ballistic missiles into Israel, affecting market sentiment.

#Dollar #Yen #FederalReserve #InterestRates #Geopolitics #Payrolls #Japan #Economy #MarketTrends #Currency

https://www.nst.com.my/business/economy/2024/10/1114207/dollar-hits-one-month-peak-yen-fed-seen-taking-time-rate-cuts


Google to invest US$1bil in Thailand
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Google plans to invest US$1 billion in Thailand to build digital infrastructure, including a new data centre in Chonburi and cloud facilities in Bangkok; this investment is expected to support 14,000 jobs and add US$4 billion to Thailand's GDP by 2029; the announcement follows a meeting between Ruth Porat, Google's president, and Thai Prime Minister Paetongtarn Shinawatra; the investment aims to meet growing demand for cloud computing in Southeast Asia and comes after Microsoft's announcement of Thailand's first data centre region in May 2024; Thailand's digital economy could contribute 30% of GDP by 2027.

#Google #Thailand #Investment #DataCentre #CloudComputing #RuthPorat #PaetongtarnShinawatra #Gdp #Jobs #SoutheastAsia

https://www.nst.com.my/world/world/2024/10/1113195/google-invest-us1bil-thailand


Oil prices climb on fears of Middle East conflict escalation
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Oil prices increased for the second consecutive session on September 30, 2024, amid escalating concerns over supply disruptions in the Middle East due to Israel's intensified attacks on Hamas and Iranian-backed forces. Brent crude futures for November delivery rose by US$1.12 to US$73.10 per barrel, while December futures climbed US$1.04 to US$72.58. U.S. West Texas Intermediate crude increased by 93 cents to US$69.11. The rise in prices follows a week where Brent fell approximately 3% and WTI fell around 5% due to demand worries in China. Analysts express concerns that a wider conflict could impact oil supplies, particularly involving Iran, a key OPEC member. Recent Israeli airstrikes have targeted Hezbollah and Houthi groups, further escalating tensions. Market analysts predict that oil prices will be influenced by supply-demand dynamics and upcoming OPEC+ supply cuts on December 1, 2024. Additionally, data indicated a contraction in China's manufacturing activity for the fifth consecutive month, raising further concerns about demand.

#OilPrices #MiddleEast #Hamas #Israel #Opec #BrentCrude #Wti #Iran #Conflict #MarketAnalysis

https://www.nst.com.my/business/economy/2024/09/1112881/oil-prices-climb-fears-middle-east-conflict-escalation


Ringgit extends gains to 4.1150 to the US dollar
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On September 30, 2024, the ringgit was trading at 4.1150/1280 against the US dollar, up from 4.1230/1280 the previous Friday; Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid indicated ongoing positive sentiment towards the ringgit; economists predict the ringgit could strengthen to RM3.80 by the end of 2024.

#Ringgit #UsDollar #Economy #Malaysia #Currency #Finance #Banking #MarketTrends #Economists #DrMohdAfzanizam

https://www.nst.com.my/business/economy/2024/09/1112698/ringgit-extends-gains-41150-us-dollar


Wall Street closes higher on strong US economic data
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On September 26, 2024, Wall Street closed higher with the S&P 500 reaching a record closing high of 5,745.37, up 23.11 points (0.40%). The Dow Jones Industrial Average rose 260.36 points (0.62%) to 42,175.11, and the Nasdaq Composite increased by 108.09 points (0.60%) to 18,190.29. Micron Technology shares surged 15.78% after projecting strong first-quarter revenue, contributing to a 3.77% rise in the Philadelphia SE Semiconductor index. Weekly jobless claims fell, indicating a steady labor market, and GDP growth was confirmed at 3% for Q2 2024. Seven of the 11 S&P 500 sectors rose, led by materials (+1.97%). Energy stocks fell by 2% due to declining crude prices. Fed Governor Adriana Kugler expressed support for recent monetary policy easing, with investors favoring a potential 50-basis point rate cut. U.S.-listed Chinese firms saw gains, with Li Auto up 7.13% and Alibaba up 10.08%. Overall, advancing issues outnumbered decliners by a 1.94-to-1 ratio on the NYSE.

#WallStreet #S&p500 #DowJones #Nasdaq #MicronTechnology #EconomicData #JoblessClaims #Gdp #FederalReserve #StockMarket

https://www.nst.com.my/business/economy/2024/09/1111375/wall-street-closes-higher-strong-us-economic-data


The ringgit's uptrend: Why it may continue to strengthen
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The ringgit reached 4.12 against the US dollar on September 25, 2024, marking a multi-year high; Malaysia's GDP grew by 5.9% in Q2 2024, exceeding expectations; Bank Negara Malaysia Governor Datuk Seri Abdul Rasheed Ghaffour attributes the rise to a robust economic outlook and structural reforms; China's yuan strengthened to 6.9946 per dollar, impacting Malaysia's economy; US Federal Reserve cut interest rates by 50 basis points, weakening the US dollar; Foreign investments into Malaysia's stock market increased, further boosting the ringgit; The ringgit appreciated against major currencies including the euro and British pound; Continued US economic softness may lead to further Fed rate cuts, potentially strengthening the ringgit.

#Ringgit #UsDollar #MalaysiaEconomy #BankNegaraMalaysia #GdpGrowth #ForeignInvestment #UsFederalReserve #CurrencyStrength #EconomicOutlook #ChinaYuan

https://www.nst.com.my/business/economy/2024/09/1110515/ringgits-uptrend-why-it-may-continue-strengthen


Oil edges up following US rate cut move, geopolitical concerns
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Oil prices increased slightly on September 23, 2024, due to concerns over Middle East conflicts affecting supply and expectations from the U.S. interest rate cut the previous week. Brent crude futures rose by 20 cents to US$74.69 a barrel, while U.S. crude futures increased by 22 cents to US$71.22. The U.S. Federal Reserve cut interest rates by half a percentage point on September 18, 2024, which analysts believe may support demand despite worries about a slowing job market. The ongoing conflict between Israel and Iranian-backed militias has raised concerns about further escalation in the region, impacting oil supply.

#Oil #UsFederalReserve #MiddleEast #BrentCrude #GeopoliticalConcerns #InterestRates #HurricaneFrancine #MarketAnalysis #EnergyDemand #Conflict

https://www.nst.com.my/business/economy/2024/09/1109416/oil-edges-following-us-rate-cut-move-geopolitical-concerns


Ringgit seen to trade at 4.15-4.20 range
==========

The ringgit is expected to trade stronger, projected in the 4.15-4.20 range against the US dollar; it surged to its highest level since March 2022, becoming the world's top-performing currency last week; analysts at Kenanga Research noted a 12.67% rise against the US dollar in six months; the ringgit closed at 4.2005/2070 on September 22, 2024, following a 50 basis points rate cut by the US Federal Reserve on September 18, 2024; the ringgit also strengthened against the euro, British pound, and Japanese yen; Kenanga Research revised its end-2024 forecast for the US dollar-ringgit to 4.25; SPI Asset Management's Stephen Innes indicated a continued bullish bias for the ringgit, expecting a trading range of 4.1875 to 4.2025.

#Ringgit #UsDollar #KenangaResearch #StephenInnes #FederalReserve #Currency #Economy #Malaysia #Forex #InterestRates

https://www.nst.com.my/business/economy/2024/09/1109364/ringgit-seen-trade-415-420-range


Audiences summon 'Beetlejuice' to top of N. America box office for third week
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The film 'Beetlejuice Beetlejuice,' directed by Tim Burton, has topped the North American box office for the third consecutive week, earning US$26 million from September 20-22, 2024; Michael Keaton reprises his role as Beetlejuice, alongside Winona Ryder, Catherine O'Hara, Jenna Ortega, Justin Theroux, Monica Bellucci, and Willem Dafoe; 'Transformers One' debuted in second place with US$25 million; 'Speak No Evil' earned US$5.9 million in third place; 'Never Let Go' and 'Deadpool & Wolverine' rounded out the top five with US$4.5 million and US$3.9 million respectively.

#Beetlejuice #TimBurton #MichaelKeaton #BoxOffice #Transformers #Horror #Comedy #Film #Hollywood #Entertainment

https://www.nst.com.my/world/world/2024/09/1109321/audiences-summon-beetlejuice-top-n-america-box-office-third-week


Ringgit set to continue bullish bias versus US dollar next week
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The ringgit is expected to trade between 4.1875 and 4.2025 against the US dollar next week; SPI Asset Management's Stephen Innes attributes the ringgit's rise to the US Federal Reserve's recent 50 basis points rate cut, the first in four years; The ringgit has appreciated 12.67% against the US dollar over the past six months; The local currency closed at 4.2005/2070 on September 20, 2024, up from 4.2975/3050 the previous week; The ringgit also strengthened against the euro, British pound, Japanese yen, and various ASEAN currencies; Bank Negara governor Datuk Seri Abdul Rasheed Ghaffour noted that Malaysia's positive economic outlook and structural reforms are contributing to the ringgit's recovery.

#Ringgit #UsDollar #StephenInnes #Fed #Economy #BankNegara #Currency #Malaysia #FinancialMarkets #InterestRates

https://www.nst.com.my/business/economy/2024/09/1108982/ringgit-set-continue-bullish-bias-versus-us-dollar-next-week


Trump refuses Harris plan for October debate
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Kamala Harris challenged Donald Trump to a debate on October 23, 2024; Trump declined, stating it was 'too late' due to early voting starting in some states; Harris's campaign chair Jen O'Malley Dillon emphasized the need for another debate; Trump, at a rally in North Carolina, expressed interest in debating but criticized CNN's fairness; Harris accused Trump of hypocrisy over abortion issues, linking him to a Georgia abortion ban; Trump faces criminal charges related to the 2020 election aftermath; the race is tight, hinging on seven battleground states.

#Trump #Harris #Debate #Election #2024 #Cnn #Abortion #NorthCarolina #Politics #Us

https://www.nst.com.my/world/world/2024/09/1108871/trump-refuses-harris-plan-october-debate


Brazil's online gambling craze may be hitting consumer spending
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Brazilians are increasingly engaging in online sports betting, with 68.2 billion reais (US$12.2 billion) spent on foreign betting platforms in the year ending June 2024; this trend is linked to lower-than-expected growth in consumer spending, as noted by Brazilian central bank governor-in-waiting Gabriel Galipolo; family spending on gambling has risen to 1.9% of income in 2024, doubling since 2018; households have reduced spending on essentials from 63% to 57% of their income since 2021; the government expects to collect 3.4 billion reais from license requests; 113 registration requests were made by companies including MGM Resorts and Caesars Sportsbook by the August 20 deadline; lower-income groups, making up 79% of bettors, are particularly affected; studies indicate a negative impact on credit scores and increased bankruptcy likelihood in regions with legalized online betting.

#Brazil #OnlineGambling #ConsumerSpending #SportsBetting #Economy #GabrielGalipolo #MgmResorts #CaesarsSportsbook #FinancialImpact #Addiction

https://www.nst.com.my/opinion/columnists/2024/09/1108548/brazils-online-gambling-craze-may-be-hitting-consumer-spending


Oil prices set to end week higher after US rate cut
==========

Brent futures trading at US$73.69 a barrel, down 0.3% on Friday; gained 4.3% this week; U.S. crude at US$72.01 a barrel, up 6 cents, with weekly gains of 4.8%; U.S. central bank cut interest rates by 0.5% on September 18, 2024; crude inventories in the U.S. fell to a one-year low; counter-seasonal oil market deficit of 400,000 bpd expected to support prices in $70-$75 range; rising tensions in the Middle East affecting prices; weak demand from China's economy impacting market.

#OilPrices #UsRateCut #BrentFutures #CrudeOil #EconomicImpact #MiddleEastTensions #ChinaEconomy #MarketTrends #InterestRates #GlobalStockpiles

https://www.nst.com.my/business/economy/2024/09/1108060/oil-prices-set-end-week-higher-after-us-rate-cut


S&P 500 surges to record high close on euphoria over Fed rate cut
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On September 19, 2024, the S&P 500 surged 1.70% to a record high close of 5,713.64 points following a 50 basis point interest rate cut by the Federal Reserve. The Dow Jones Industrial Average also reached a record high, closing above 42,000 for the first time at 42,025.19 points. Major stocks like Tesla, Apple, and Meta Platforms saw significant gains, with Tesla rising over 7%. The Nasdaq increased by 2.51% to 18,013.98 points. Fed Chair Jerome Powell expressed confidence in the economy, indicating potential future rate cuts. BofA Global Research revised its forecast to expect a total of 75 basis points in rate cuts by year-end. The small-cap Russell 2000 index rose 2.1%. Advancing stocks outnumbered declining ones by a 3.8-to-one ratio, with heavy trading volume of 12.3 billion shares.

#S&p500 #DowJones #FederalReserve #InterestRates #StockMarket #RecordHigh #Tesla #Apple #Nvidia #EconomicOutlook

https://www.nst.com.my/business/corporate/2024/09/1108040/sp-500-surges-record-high-close-euphoria-over-fed-rate-cut


Ringgit strengthens to 4.2410 against US dollar, highest since February 2023
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The ringgit rose to 4.2410/2460 against the US dollar on September 18, 2024, marking its highest close since February 2, 2023; it improved from the previous day's close of 4.2535/2645; Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid anticipates a 50 basis point cut in the Fed Fund Rate (FFR) that evening; the Overnight Policy Rate (OPR) is currently at 2.50 percent; the ringgit's strength is attributed to expectations of US rate cuts making ringgit-denominated assets attractive; the Bank of Indonesia cut its benchmark interest rate by 25 basis points to 6.00 percent; the ringgit also appreciated against other major currencies including the British pound, Japanese yen, euro, Singapore dollar, Thai baht, Philippine peso, and Indonesian rupiah.

#Ringgit #UsDollar #BankNegara #InterestRates #Economy #Malaysia #CurrencyExchange #ForeignInvestment #MohdAfzanizamAbdulRashid #BankIndonesia

https://www.nst.com.my/business/economy/2024/09/1107395/ringgit-strengthens-42410-against-us-dollar-highest-february-2023


Japan's exports slow sharply, machinery orders shrink in blow to economic recovery
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Japan's export growth slowed to 5.6% year-on-year in August 2024, below the expected 10% increase; shipments to the U.S. fell 0.7%, marking the first decline in three years, with auto sales down 14.2%; machinery orders unexpectedly shrank 0.1% in July, contrary to a 0.5% rise forecast; overall shipments decreased 2.7% from the previous year; trade deficit stood at 695.3 billion yen ($4.90 billion); Takeshi Minami, chief economist at Norinchukin Research Institute, noted that weak global economic momentum is impacting Japan's recovery prospects.

#Japan #Exports #Economy #MachineryOrders #TradeDeficit #Us #China #TakeshiMinami #EconomicRecovery #August2024

https://www.nst.com.my/business/economy/2024/09/1107116/japans-exports-slow-sharply-machinery-orders-shrink-blow-economic


Ringgit might hit 4.25 per US dollar by year-end, but more than US rate cuts will affect its strength
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The ringgit, Asia's best-performing currency in 2024, could reach 4.25 against the US dollar by year-end, influenced by US Federal Reserve rate cuts starting this week; the extent of the cuts, Fed's guidance, US economic strength, and upcoming presidential elections are key factors. Bank Muamalat's chief economist Dr. Mohd Afzanizam Abdul Rashid notes that narrowing interest rate gaps will drive ringgit appreciation, while economist Dr. Geoffrey Williams states the rate cut's impact is already priced in. A 50 basis point cut could strengthen the ringgit further, while a 25 basis point cut may stabilize it. Bank Negara Malaysia's OPR is expected to remain at 3.0%. Stephen Innes from SPI Asset Management highlights that US political risks, especially if Trump wins, could challenge the ringgit's strength. The ringgit opened at 4.2930 and settled at 4.294, rebounding 12% from its lowest point of RM4.79 this year.

#Ringgit #UsDollar #FederalReserve #Economy #Malaysia #InterestRates #Forex #BankNegara #PoliticalRisk #Currency

https://www.nst.com.my/business/economy/2024/09/1107031/ringgit-might-hit-425-us-dollar-year-end-more-us-rate-cuts-will


Finish Gaza deal now, Israel opposition leader says in US
==========

Yair Lapid, Israeli opposition leader and former prime minister, urged Prime Minister Benjamin Netanyahu to finalize a Gaza truce deal during his meeting with US Secretary of State Antony Blinken on September 16, 2024. Lapid emphasized the importance of bringing back hostages for Israel's existence and stated that political interests should be set aside. He described Hamas as a 'terrible organization' but insisted that more efforts should be made to secure a hostage deal. US President Joe Biden proposed a ceasefire plan on May 31, 2024, which includes a six-month fighting freeze and the release of captives. Netanyahu has rejected US claims that a deal is close, insisting on an Israeli military presence on the Egypt-Gaza border, which has caused tensions with Egypt, a key mediator. The Philadelphi Corridor and hostage release details remain major sticking points, according to State Department spokesman Matthew Miller.

#Israel #Gaza #YairLapid #BenjaminNetanyahu #Hamas #Us #Truce #Hostages #Diplomacy #MiddleEast

https://www.nst.com.my/world/world/2024/09/1106668/finish-gaza-deal-now-israel-opposition-leader-says-us


Brazil judge seizes US$3 million from Musk to pay X fines
==========

Brazil's Supreme Court announced on September 14, 2024, that Judge Alexandre de Moraes ordered the transfer of US$3 million from Elon Musk's companies to cover fines for his social network X, which has been suspended in Brazil. The judge had previously ordered X to shut down after Musk failed to remove certain right-wing accounts and did not appoint a new legal representative. Moraes also froze the assets of X and Starlink to ensure payment of fines, which were imposed due to the platform's non-compliance with court orders. The social media platform has over 22 million users in Brazil. Moraes's actions have sparked debates on freedom of expression, with President Luiz Inacio Lula da Silva supporting the ban, while former President Jair Bolsonaro criticized Moraes as a 'dictator'.

#ElonMusk #Brazil #SocialNetwork #X #Fines #JudgeAlexandreDeMoraes #FreedomOfExpression #LulaDaSilva #JairBolsonaro

https://www.nst.com.my/world/world/2024/09/1105709/brazil-judge-seizes-us3-million-musk-pay-x-fines


Australian govt says will fine companies that fail to protect citizens from scams
==========

The Australian government plans to impose fines up to 50 million Australian dollars (US$33.6 million) on companies that do not protect customers from scams; Assistant Treasurer Stephen Jones announced the new laws on September 13, 2024; the laws will apply to banks, telecommunications companies, and technology firms; Australians reported losing 2.74 billion Australian dollars (US$1.84 billion) to scams in 2023; scam victims can seek compensation through the Australian Financial Complaints Authority; banks must report scams immediately and attempt to halt payments.

#Australia #Scams #Government #Fines #ConsumerProtection #StephenJones #FinancialComplaints #Telecommunications #Banks #Technology

https://www.nst.com.my/business/economy/2024/09/1105295/australian-govt-says-will-fine-companies-fail-protect-citizens


Dollar firm after inflation data douse bets for big Fed cut
==========

The dollar traded near a four-week high against the euro on September 12, 2024, following U.S. inflation data that suggested the Federal Reserve would likely avoid a significant interest rate cut next week. The U.S. consumer price index (CPI) rose 0.2% in August, with core CPI increasing by 0.3%. Traders reduced the probability of a 50-basis point rate cut on September 18 to 15%, while a 25-basis point cut remains at 85%. The European Central Bank is expected to announce a quarter-point rate reduction on the same day. The dollar rose 0.13% to 142.55 yen, recovering from a low of 140.71 yen earlier in the week. Bank of Japan board members indicated a tightening bias, contributing to yen volatility. U.S. Treasury yields increased after hitting a 15-month low, impacting currency movements.

#Dollar #Inflation #FederalReserve #InterestRates #Ecb #Cpi #Yen #TreasuryYields #CurrencyMarkets #EconomicData

https://www.nst.com.my/business/economy/2024/09/1104720/dollar-firm-after-inflation-data-douse-bets-big-fed-cut


Bid for 7-Eleven owner shows Japan's governance gains, says Suntory CEO Niinami
==========

A US$39 billion Canadian takeover bid for 7-Eleven's owner indicates a shift in Japan's corporate governance; Suntory CEO Takeshi Niinami, age 65, notes CEOs are 'nervous' about potential foreign bids; Seven & i's rejection of Alimentation Couche-Tard's bid shows companies are focusing on value; Niinami believes Japan's corporate governance is advancing; Governance reforms and emergence from deflation are pressuring companies to create value; Niinami, a Harvard Business School graduate, previously led a US$16 billion takeover of Beam; Outbound deal value in Japan is at a 17-year high; Niinami supports Nippon Steel's bid for U.S. Steel; He anticipates interest rates may rise to 1% in 6-9 months; Emphasizes the need for sustainable wage growth to boost consumption.

#Japan #Suntory #7eleven #CorporateGovernance #M&a #Economy #Niinami #AlimentationCouchetard #NipponSteel #UsSteel

https://www.nst.com.my/business/corporate/2024/09/1104395/bid-7-eleven-owner-shows-japans-governance-gains-says-suntory-ceo


Thailand to distribute first US$4.2b of handout scheme starting this month
==========

Thailand will distribute 145 billion baht (US$4.2 billion) of its 'digital wallet' handout programme earlier than scheduled to support vulnerable groups, as stated by Deputy Finance Minister Julapun Amornvivat on September 9, 2024. The government has prepared a total of 450 billion baht (US$13.29 billion) for the programme, aiming to transfer 10,000 baht to 50 million Thais. The rollout was initially planned for the last quarter of 2024. The Thai economy grew 2.3% in Q2 2024, but uncertainty arose after the removal of Premier Srettha Thavisin last month. As of now, 32 million people have registered for the programme, which will provide funds via a smartphone application. Critics, including former central bank governors, have labeled the handout scheme as fiscally irresponsible, while the government insists it is necessary for economic stimulation, projecting a growth of 2.6% for the year.

#Thailand #Economy #HandoutScheme #DigitalWallet #Stimulus #Finance #JulapunAmornvivat #SretthaThavisin #PaetongtarnShinawatra #2024

https://www.nst.com.my/business/economy/2024/09/1103373/thailand-distribute-first-us42b-handout-scheme-starting-month


Bracing for heavy selloff in Asian stocks after Wall Street's slump
==========

Asian stocks expected to open sharply lower on September 9, 2024; Wall Street's slump on September 6, 2024, influenced by U.S. jobs data and Fed comments; Japanese futures indicate a more than 3% drop for Nikkei 225; S&P 500 and Dow saw biggest weekly drop since March 2023; Nasdaq's 2.6% fall marks its largest weekly loss since January 2022; overseas investors cautious, net sellers in August; Chinese stocks closed at a seven-month low; U.S. unemployment rate decreased, wage growth accelerated; Fed officials did not signal a 50 basis point rate cut; China to release CPI and PPI data; Japan to revise Q2 GDP growth; Taiwan's export growth forecasted at 7.35%; Yi Gang calls for more fiscal stimulus to combat deflation.

#AsianStocks #WallStreet #Fed #EconomicData #China #Japan #Taiwan #RecessionFears #Inflation #MarketAnalysis

https://www.nst.com.my/business/corporate/2024/09/1103136/bracing-heavy-selloff-asian-stocks-after-wall-streets-slump


Oil holds at 14-month low on demand worries
==========

Oil prices remain at a 14-month low due to concerns about demand in the US and China, alongside anticipated increases in Libyan supplies; Brent futures settled at US$72.69 and WTI at US$69.15, marking the lowest closes since June 2023 and December 2023 respectively; US Energy Information Administration reported a withdrawal of 6.9 million barrels from US inventories for the week ending August 30, exceeding the 1 million barrels forecast; Opec+ decided to delay planned output increases for October and November, potentially tightening fourth-quarter balances by 100,000-200,000 barrels per day; Analysts express skepticism about Opec+'s impact on prices, citing a surplus in gasoline stockpiles; US economic indicators show mixed signals with private job growth at a 3.5-year low and steady services sector activity; Federal Reserve expected to cut interest rates at the upcoming September 17-18 meeting.

#Oil #Opec+ #UsEconomy #China #Brent #Wti #Energy #MarketAnalysis #FederalReserve #Libya

https://www.nst.com.my/business/economy/2024/09/1102048/oil-holds-14-month-low-demand-worries


Ringgit opens firmer versus greenback as US labour demand declines
==========

On September 5, 2024, the ringgit opened at 4.3380/3545 against the US dollar, improving from the previous day's close of 4.3505/3560; US job openings fell to 7.673 million in July, below the expected 8.09 million; Bank Muamalat's chief economist, Dr. Mohd Afzanizam Abdul Rashid, noted guarded demand for the ringgit amid global economic uncertainty; the US Federal Reserve is expected to cut interest rates during the FOMC meeting on September 17-18; the ringgit also strengthened against the euro and British pound but weakened against the Japanese yen; it traded higher against several ASEAN currencies, including the Singapore dollar and Indonesian rupiah.

#Ringgit #UsDollar #Economy #InterestRates #JobOpenings #Malaysia #BankMuamalat #GlobalEconomy #Asean #CurrencyExchange

https://www.nst.com.my/business/economy/2024/09/1101443/ringgit-opens-firmer-versus-greenback-us-labour-demand-declines


Ringgit opens marginally higher against greenback
==========

The ringgit opened at 4.3485/3595 against the US dollar on September 3, 2024, slightly up from 4.3550/3600 the previous day; Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted potential profit-taking due to recent ringgit appreciation; US rate cut expectations for September remain high, indicating a possible monetary easing cycle; US ISM manufacturing data to be released tonight, with expectations of improvement from July's 46.8 to August's 47.5; The ringgit also strengthened against major currencies including the Japanese yen, euro, and British pound.

#Ringgit #UsDollar #Economy #Malaysia #CurrencyExchange #Banking #Finance #MarketAnalysis #EconomicData #MonetaryPolicy

https://www.nst.com.my/business/economy/2024/09/1100440/ringgit-opens-marginally-higher-against-greenback


Ringgit seen to trade higher next week
==========

The ringgit is expected to trade higher against the US dollar next week due to sustained demand; Bank Muamalat's chief economist Dr. Mohd Afzanizam Abdul Rashid predicts it may breach RM4.3030; US non-farm payrolls and Bank Negara Malaysia's Monetary Policy Committee Meeting are key economic data to watch; since the currency peg removal on July 21, 2005, the average level was RM3.7875, indicating potential appreciation; AmBank Group forecasts further strengthening of the ringgit due to healthy fundamentals and US Federal Reserve's interest rate cuts; ringgit strengthened to 4.3185/3225 against the US dollar from 4.3720/3775; it also gained against the euro, British pound, Japanese yen, and ASEAN currencies; net foreign buying in Malaysian equities reached RM2.53 billion year-to-date as of August 29, 2024.

#Ringgit #UsDollar #BankNegaraMalaysia #Economy #InterestRates #ForeignInvestment #CurrencyExchange #Malaysia #FinancialMarkets #EconomicData

https://www.nst.com.my/business/economy/2024/09/1099966/ringgit-seen-trade-higher-next-week


US rapper Fatman Scoop dead after collapsing on stage
==========

US rapper Fatman Scoop, aged 53, died after collapsing on stage at Hamden Town Center Park, Connecticut. His family confirmed his death on September 1, 2024. Medical staff attempted CPR on stage but were unable to revive him. Scoop was known for hits like "Be Faithful" and "It Takes Scoop." Tributes poured in from the hip-hop community, including messages from Missy Elliott and his manager Birch Michael. In 2018, he was involved in a political controversy in Australia when Prime Minister Scott Morrison used his song in a post, which was later deleted due to backlash.

#FatmanScoop #Hiphop #Death #Music #Tribute #Performance #Cpr #Controversy #Australia #Celebrity

https://www.nst.com.my/world/world/2024/09/1099637/us-rapper-fatman-scoop-dead-after-collapsing-stage


US, European stocks shrug off Nvidia slump to rise on rate hopes
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On August 29, 2024, Germany's DAX index reached a record high as US and European stock markets rose despite a drop in Nvidia shares. Nvidia reported sales of US$30 billion and profits of US$16.5 billion, but shares fell 6.4% on August 30 after an initial 8% drop in after-hours trading. The broader market remained resilient as most companies beat earnings forecasts. Federal Reserve Chair Jerome Powell indicated readiness to cut rates, with the US economy growing at an annual rate of 3.0% in Q2 2024. Germany's inflation rate slowed to 1.9% in August, supporting expectations for a rate cut by the European Central Bank. The DAX closed at 18,912.57 points, up 0.7%. Asian tech shares suffered, with SK Hynix and TSMC among the biggest losers.

#Stocks #Nvidia #Dax #FederalReserve #Ecb #Inflation #Earnings #Economy #InterestRates #MarketTrends

https://www.nst.com.my/business/corporate/2024/08/1098637/us-european-stocks-shrug-nvidia-slump-rise-rate-hopes


Scandinavian airline SAS exits US bankruptcy proceedings after more than 2 years
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SAS exits Chapter 11 bankruptcy on August 28, 2024; restructured over $2 billion in debt; new ownership includes Air France-KLM, Castlelake, Lind Invest, and the Danish government; wiped out stakes of over 250,000 former owners; $1.2 billion total investment in reorganized group; $475 million in new unlisted equity and $725 million in secured convertible debt; recorded highest-ever monthly profitability in July 2024; CEO Anko van der Werff emphasizes ongoing transformation.

#Sas #Bankruptcy #Restructuring #Aviation #Finance #Ownership #AirFranceklm #Norway #Ceo #Profitability

https://www.nst.com.my/business/economy/2024/08/1098093/scandinavian-airline-sas-exits-us-bankruptcy-proceedings-after-more


Nevada's hot housing market weighs on US presidential election
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Brittnie Aguirre, a 29-year-old from Reno, Nevada, struggles with rising housing costs, reflecting broader economic challenges for middle-class Americans; her family's post-tax annual income is $71,000, with $3,000 monthly mortgage payments; Nevada's housing market is pivotal in the upcoming presidential election, with Biden winning by 33,000 votes in 2020; Kamala Harris and Donald Trump are key candidates; Reno's population has doubled since 1990, driven by tech workers relocating from California; average home price in Washoe County is $550,000, double from a decade ago; interest rates are near 20-year highs, impacting affordability; median age of first-time buyers in the US reached 36 in 2022; economic conditions may sway voters back to Harris as Election Day approaches.

#Nevada #HousingMarket #PresidentialElection #Biden #Trump #KamalaHarris #Economy #RealEstate #Voting #MiddleClass

https://www.nst.com.my/property/2024/08/1097432/nevadas-hot-housing-market-weighs-us-presidential-election


CGS International says downside risk to ringgit remain, targets 4.4 by year-end, 4.2 by end-2025
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CGS International projects the ringgit to end 2024 at RM4.40 against the US dollar and RM4.20 by end-2025; downside risks to the ringgit are noted due to sharp movements; Bank Negara Malaysia may adopt a hawkish stance; the US Federal Reserve is expected to signal a rate cut on September 24, 2024; potential for ASEAN currencies to appreciate due to narrowing interest rate differentials; risks include excessive appreciation and potential US recession; CGS International emphasizes sustainable consumption and investment momentum until 2025.

#Ringgit #CgsInternational #BankNegaraMalaysia #UsFederalReserve #AseanCurrencies #EconomicForecast #Malaysia #CurrencyRisk #Investment #InterestRates

https://www.nst.com.my/business/economy/2024/08/1097250/cgs-international-says-downside-risk-ringgit-remain-targets-44-year


Gold prices rise on September US rate-cut expectations
==========

Gold prices increased on August 26, 2024, due to a weaker dollar and lower Treasury yields following dovish comments from U.S. Federal Reserve Chair Jerome Powell, who indicated a likely rate cut in September. Spot gold rose 0.4% to US$2,520.39 per ounce, while U.S. gold futures also gained 0.4% to US$2,556.00. Traders anticipate a 62% chance of a 25 basis point cut and a 38% chance of a 50 basis point cut. The ongoing tensions in the Middle East further supported gold's rise. India's gold demand is expected to remain strong due to reduced import duties.

#Gold #FederalReserve #JeromePowell #TreasuryYields #MarketAnalysis #RateCut #Dollar #MiddleEast #India #Investment

https://www.nst.com.my/business/economy/2024/08/1096935/gold-prices-rise-september-us-rate-cut-expectations


Dollar sinks vs yen, hovers near 2-1/2-year low to sterling after Fed's dovish shift
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The yen rose to a three-week high against the dollar on August 26, 2024, following Federal Reserve Chair Jerome Powell's dovish remarks, contrasting with Bank of Japan chief Kazuo Ueda's hawkish stance. The dollar fell 0.59% to 143.56 yen, marking its lowest since August 5, 2024. The dollar index was at 100.64, near a 13-month low of 100.60. Sterling was steady at US$1.3215 after reaching US$1.32295 on August 23, 2024. Powell's speech lacked caveats, exciting markets, while Ueda maintained a hawkish tone despite market turmoil from a July rate hike. Traders expect the Fed to begin rate cuts on September 18, 2024, with a 36.5% chance of a 50-basis point reduction.

#Dollar #Yen #Sterling #FederalReserve #BankOfJapan #InterestRates #CurrencyExchange #MarketAnalysis #Economy #Finance

https://www.nst.com.my/business/economy/2024/08/1096700/dollar-sinks-vs-yen-hovers-near-2-12-year-low-sterling-after-feds


Ringgit poised for further gains next week on Fed's rate cut hints
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The ringgit is expected to strengthen against the US dollar next week due to signals from the US Federal Reserve suggesting potential interest rate cuts in September; Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid predicts the ringgit could trade between RM4.3650 and RM4.3750; Key data to watch includes the US Personal Consumption Expenditure (PCE) Price Index for July; June's headline and core PCE inflation eased to 2.5% and 2.6%, respectively; Kenanga Investment Bank Bhd anticipates continued capital inflows into Malaysia; On August 19, the ringgit reached an 18-month high at RM4.3805; Year-to-date, the ringgit has appreciated by 5.01% against the US dollar; The ringgit strengthened to 4.3720/3775 against the US dollar from 4.4295/4350 a week ago; It gained against the euro but depreciated against the British pound and Japanese yen; Mixed performance against ASEAN currencies noted.

#Ringgit #UsDollar #MohdAfzanizamAbdulRashid #KenangaInvestmentBank #Pce #FederalReserve #Inflation #CapitalInflows #CurrencyExchange #EconomicOutlook

https://www.nst.com.my/business/economy/2024/08/1096406/ringgit-poised-further-gains-next-week-feds-rate-cut-hints


Ringgit rises as US dollar index declines on FED rate cut hopes
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The ringgit strengthened against the US dollar, reaching 4.3755/3840, up from 4.3780/3850, driven by a decline in the US Dollar Index (DXY) to 101.441, its lowest in seven months. Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted that the two-year US Treasury yield dropped to 3.99%. The ringgit is expected to be supported by anticipated US interest rate cuts, with RM4.30 identified as an immediate support level. The ringgit weakened against the Japanese yen, euro, and British pound but showed mixed performance against ASEAN currencies.

#Ringgit #UsDollar #FederalReserve #InterestRates #Economy #CurrencyExchange #BankMuamalat #Dxy #TreasuryYield #Asean

https://www.nst.com.my/business/economy/2024/08/1094530/ringgit-rises-us-dollar-index-declines-fed-rate-cut-hopes


Ringgit up 1.3pct to 4.3758 against US dollar, its strongest level since February 2023
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The ringgit appreciated by 1.31% against the US dollar on August 19, 2024, reaching RM4.3758, its strongest level since mid-February 2023; Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted the ringgit's resilience amid positive US economic data; the US dollar/ringgit exchange rate broke RM4.4005, indicating strong performance among Asian currencies; the upcoming Jackson Hole Symposium is anticipated to provide insights on future Federal Open Market Committee meetings.

#Ringgit #UsDollar #Economy #BankMuamalat #ExchangeRate #JacksonHoleSymposium #CurrencyPerformance #EconomicData #AsianCurrencies #FinancialNews

https://www.nst.com.my/business/economy/2024/08/1093626/ringgit-13pct-43758-against-us-dollar-its-strongest-level-february


US budget deficit rises to all-time high under Biden
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The US budget deficit has reached an all-time high of US$6.6 trillion during Joe Biden's presidency; this figure is based on data from the US Treasury Department; in 2021, the deficit was US$2.8 trillion (13% of GDP); in 2022, it decreased to US$1.4 trillion (6.3% of GDP); in 2023, it increased to US$1.7 trillion (7.6% of GDP); for the first half of 2024, the deficit was US$758.2 billion (5.5% of GDP); Donald Trump accumulated a total deficit of US$5.6 trillion during his presidency; Barack Obama reduced the deficit from US$5.1 trillion to US$2.2 trillion; the last US budget surplus was in 2001 under George W. Bush; the national debt exceeded US$35 trillion in July 2024.

#UsBudget #Deficit #Biden #Trump #NationalDebt #Economy #Gdp #UsTreasury #HistoricalData #GovernmentSpending

https://www.nst.com.my/business/economy/2024/08/1093194/us-budget-deficit-rises-all-time-high-under-biden


Malaysia's upcoming brics membership to boost economic ties with India
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Malaysia's participation in BRICS will enhance economic collaboration with India; Datuk Ramesh Kodammal emphasizes strategic advantages for trade and investment; Prime Minister Anwar Ibrahim's visit to India from Aug 19-21, 2024, aims to strengthen ties; BRICS established in 2009, Malaysia to become a partner country before full membership; India-Malaysia bilateral trade exceeded US$20 billion in 2023-24, projected to reach US$30 billion by 2025; visa-free entry for Indian nationals in Malaysia effective until Dec 31, 2024; Indian government offers Malaysians a 30-day double-entry electronic visa from July 1, 2024, to June 30, 2025.

#Brics #Malaysia #India #EconomicTies #Trade #Investment #VisaPolicy #AnwarIbrahim #RameshKodammal #BilateralRelations

https://www.nst.com.my/business/economy/2024/08/1093161/malaysias-upcoming-brics-membership-boost-economic-ties-india


Ringgit rises to 4.4150 against US dollar ahead of 2Q GDP release
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The ringgit strengthened against the US dollar and other major currencies ahead of the release of Malaysia's second quarter 2024 gross domestic product (GDP) data. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed the ringgit's strength to growing anticipation of US interest rate cuts. At 8 am, the ringgit was at 4.4150/4250 against the US dollar, up from the previous day's close of 4.4170/4235.

#Ringgit #UsDollar #Malaysia #Economy #Gdp

https://www.nst.com.my/business/economy/2024/08/1091731/ringgit-rises-44150-against-us-dollar-ahead-2q-gdp-release


Stocks advance as US inflation data raises rate cut hopes
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Global stock markets mostly rose on Wednesday after further evidence of cooling US consumer price inflation bolstered the prospect of a September interest rate cut. The US consumer price index (CPI) rose 2.9 percent last month from a year ago, its smallest 12-month increase since March 2021. The Dow Jones Industrial Average closed up 0.6 percent. Fed policymakers are tipped to cut US rates by 25 basis points at their September meeting, followed by at least one more cut before December. Weak inflation and jobs data "may give the Federal Reserve greater confidence to accelerate its pace of interest rate cuts."

#UsInflationData #RateCut #StockMarkets #FederalReserve

https://www.nst.com.my/business/economy/2024/08/1091729/stocks-advance-us-inflation-data-raises-rate-cut-hopes


NY eco activists turn up heat on Citi over polluting investments
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Environmental campaigners in New York are protesting against Citigroup (Citi) for fueling the climate crisis through its bankrolling of polluting businesses. The activists have launched a "summer of heat" campaign, including protests, leafleting, and online pressure. They gather at Citi's headquarters in Lower Manhattan every week, demanding a change in the bank's fossil fuel investments policy. Over 600 people have been arrested at the protests so far. Citi is accused of being the second worst funder of dirty energy projects in the world, spending $396.3 billion on coal, oil, and gas from 2016 to 2023. The bank claims to be transparent about its climate-related activities and supports the transition to a low-carbon economy.

#Environment #Activism #ClimateCrisis #Citigroup #FossilFuelDivestment

https://www.nst.com.my/business/corporate/2024/08/1089904/ny-eco-activists-turn-heat-citi-over-polluting-investments


6 GLICs pledge RM120b in domestic investments over 5 year-period
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Six government-linked investment companies (GLICs) in Malaysia, including Khazanah Nasional Bhd, EPF, KWAP, PNB, TH, and LTAT, have committed to investing RM120 billion in domestic direct investments (DDI) over the next five years under a program led by the Ministry of Finance. The investments will focus on high-growth, high-value industries, such as the energy transition sector and advanced manufacturing. The GLICs will also support investments in start-ups, venture capital, and mid-tier companies, as well as aid in the listing of these companies. The program, named GEAR-uP, aims to boost growth in crucial economic sectors and benefit Malaysians equitably. Prime Minister Anwar Ibrahim emphasized the financial capacity of the GLICs, with a combined assets under management (AUM) valued at over RM1.8 trillion. The GLICs and GLCs will also take actions to improve the lives of employees and investee companies, including ensuring permanent Malaysian employees receive a total compensation equivalent to monthly living wages of RM3,100. Kumpulan Amanah Wang Negara (KWAN) will be enhanced as Malaysia's intergenerational wealth fund. The program is part of the government's efforts to drive domestic investments and transform the country's economic value chain.

#Glics #Investment #Malaysia #DomesticInvestments #EconomicGrowth

https://www.nst.com.my/business/economy/2024/08/1088366/6-glics-pledge-rm120b-domestic-investments-over-5-year-period


Ringgit opens slightly higher ahead of US labour data release
==========

The ringgit opened slightly higher against the US dollar as investors awaited the release of US labour data later in the day. The ringgit rose to 4.4920/4990 against the greenback from yesterday's close of 4.4950/5010. Market sentiment is expected to remain cautious, with traders closely monitoring high-frequency data such as Initial Jobless Claims to gauge the US Federal Reserve's next move. The US Dollar Index (DXY) was up by 0.2% to 103.179 points on Wednesday, while the two-year US treasury note yield fell one basis point to 3.96%. The ringgit is expected to maintain its narrow range bias for the day. It traded mostly lower against major currencies, falling against the Japanese yen and the euro, but gaining against the British pound. It also traded mixed against ASEAN currencies, sliding against the Singapore dollar, rising against the Indonesian rupiah, and firming against the Philippines' peso. The ringgit was lower against the Thai baht.

#Ringgit #UsDollar #Investors #UsLabourData #MarketSentiment #Traders #UsFederalReserve #UsDollarIndex #Currencies #AseanCurrencies

https://www.nst.com.my/business/economy/2024/08/1088293/ringgit-opens-slightly-higher-ahead-us-labour-data-release


A Trump presidency could benefit Malaysian semiconductor industry - Analysts
==========

The Malaysian semiconductor industry could benefit from a second Donald Trump US presidency, according to Public Investment Bank Bhd (PublicInvest). Increased geopolitical tensions might drive more semiconductor companies to relocate to Malaysia, thanks to the country's neutral position in the region and its strong semiconductor supply chain combined with cost advantages. US-China business partners might move their production lines and orders to Malaysia to address potential risks, benefiting local players through increased orders and technology transfers from multinational corporations (MNCs). PublicInvest also anticipates a renewed interest in local technology companies as valuations become more appealing. Nvidia's release of its new Blackwell GPUs and the rapid growth of large language models are expected to create new opportunities for local technology companies. PublicInvest has an 'Overweight' rating on the technology sector and recommends Inari Amertron Bhd, D&O Green Technologies Bhd, and QES Group Bhd as top picks.

#MalaysianSemiconductorIndustry #DonaldTrump #UsPresidency #GeopoliticalTensions #Relocation #NeutralPosition #SemiconductorSupplyChain #CostAdvantages #UschinaBusinessPartners #ProductionLines #TechnologyTransfers #MultinationalCorporations #Mncs #LocalTechnologyCompanies #Valuations #Nvidia #BlackwellGpus #LargeLanguageModels #Publicinvest #InariAmertronBhd #D&oGreenTechnologiesBhd #QesGroupBhd

https://www.nst.com.my/business/economy/2024/07/1083194/trump-presidency-could-benefit-malaysian-semicondcutor-industry


Ringgit opens almost flat vs US dollar, mixed vs major currencies
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The ringgit opened almost flat against the US dollar on Monday, standing at 4.6550/6610 against the greenback from last Friday's close of 4.6550/6605. The short-term outlook for the ringgit remains promising as the anticipation of a United States rate cut gains momentum. The market is also monitoring the Bank of Japan's next move as it embarks on a quantitative tightening path. Meanwhile, the ringgit traded mixed against ASEAN currencies, easing against the Singapore dollar and weakening against the Thai baht. The local currency appreciated against the euro and was marginally higher vis-a-vis the British pound. It remained flat against the Indonesia rupiah and the Philippines' peso.

#Ringgit #UsDollar #ExchangeRate #BankOfJapan #AseanCurrencies

https://www.nst.com.my/business/economy/2024/07/1083162/ringgit-opens-almost-flat-vs-us-dollar-mixed-vs-major-currencies


Ringgit set to extend gains next week on expected US interest rate cut
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The ringgit is expected to continue its upward trajectory next week due to increasing market anticipation of an imminent interest rate cut by the United States. The World Interest Rate Probability (WIRP) forecast predicts a 105.5% probability of a rate cut by the US Federal Reserve (Fed) in September. The ringgit is likely to trade in a tight range between RM4.64 and RM6.45. The US economic data, including the Purchasing Managers' Index (PMI) for manufacturing and the Nonfarm Payroll (NFP), will be critical factors to monitor. The ringgit closed at 4.6550/6605 against the US dollar on Friday. It also strengthened against other major currencies and ASEAN currencies.

#Ringgit #UsInterestRate #Currency #ForeignExchange #Economy

https://www.nst.com.my/business/economy/2024/07/1082721/ringgit-set-extend-gains-next-week-expected-us-interest-rate-cut%C2%A0


Ringgit opens slightly lower against US dollar
==========

The ringgit opened slightly lower against the US dollar in the morning trading session. At 8.05 am, the ringgit declined to 4.6650/6700 against the greenback from Thursday's close of 4.6600/6625. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid expects the ringgit to be traded at the current level against the US dollar as expectations remain for the US Federal Reserve to cut interest rates.

#Ringgit #UsDollar #ExchangeRate #BankMuamalatMalaysia #InterestRates

https://www.nst.com.my/business/economy/2024/07/1081778/ringgit-opens-slightly-lower-against-us-dollar


Ringgit opens higher against dollar
==========

The ringgit opened higher against the US dollar and mixed against other major currencies. At 8 am, the ringgit rose to 4.6670/6735 against the greenback from Wednesday's close of 4.6705/6735. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid expects the US dollar/ringgit to gain a firmer footing as Malaysia's monetary policy is expected to remain unchanged for the rest of the year.

#Ringgit #UsDollar #ExchangeRate #BankMuamalatMalaysia #Economist

https://www.nst.com.my/business/economy/2024/07/1081257/ringgit-opens-higher-against-dollar


Chinese yuan hits eight-month low as commodities currencies continue slide
==========

China's yuan slipped to its lowest point in more than eight months on Wednesday as commodities-linked currencies broadly lost further ground on a bleak outlook for Chinese demand. Funding conditions remained tight offshore, however, making it costly for investors to short the yuan and limiting yuan losses, market participants said. The yuan was 0.01 per cent lower at 7.2756 to the dollar. Over the past two weeks, China-linked currencies have tracked a pullback in commodity prices while the U.S. dollar has also been supported as traders wait on crucial growth and inflation readings for the U.S. economy. The People's Bank of China set the midpoint rate at 7.1358 per dollar, its weakest since November 2023. The central bank has been gradually lowering its daily yuan official guidance with a bias suggesting it is allowing some depreciation. The yuan is down 0.1 per cent against the dollar this month, and 2.4 per cent weaker this year. BofA Securities analysts said China's rate cuts this week were a concession that monetary easing is needed to support growth. Offshore yuan traded at 7.287 yuan per dollar, up about 0.03 per cent in Asian trade. The dollar's index was flat at 104.48.

#ChineseYuan #CommoditiesCurrencies #ChineseDemand #Economy #CurrencyExchange

https://www.nst.com.my/business/economy/2024/07/1080912/chinese-yuan-hits-eight-month-low-commodities-currencies-continue


APAC tourism recovery to continue, albeit slowly: Fitch
==========

The tourism recovery in Asia Pacific (APAC) is expected to continue in 2024, albeit more slowly due to less favorable base effects, according to Fitch. The firm forecasts that visitation volume in the region will reach 92% of the 2019 level, up from 65% in 2023. International tourism receipts in nominal US dollars are expected to exceed the 2019 level by about 6.0% this year. Fitch's baseline assumption is that a full recovery of international tourism arrivals in APAC will materialize in the first half of 2025. The tourism recovery in the second half of 2024 is supported by the region's economic resilience, additional flight capacity, pent-up demand from major visitor markets, policy efforts to reignite tourism, and local-currency weakness. However, the prospects for the tourism recovery remain vulnerable to risks such as slow restoration of air traffic, higher airfares and energy prices, heightened geopolitical tensions, and a global shock or economic downturn. Fitch also highlights the impact of climate change on economies that depend on nature-based tourism, particularly in Southeast Asia. The credit buffers of most Fitch-rated APAC sovereigns are expected to be sufficient against the risks of a sharp tourism downturn, but frontier markets and destinations heavily reliant on tourism, such as Thailand, face greater vulnerabilities.

#Tourism #AsiaPacific #Fitch #Recovery #Economy

https://www.nst.com.my/business/economy/2024/07/1078570/apac-tourism-recovery-continue-albeit-slowly-fitch


Wall Street ends sharply lower as anxiety rises, earnings heat up
==========

U.S. stocks tumbled on Thursday as investors rotated away from high-priced megacap growth stocks and second-quarter earnings season gathered steam; The sell-off resumed a day after the Nasdaq posted its biggest one-day drop since December 2022 and the chip sector suffered its largest daily percentage plunge since March 2020; The CBOE Market Volatility index, often called the "fear index," touched its highest level since May; The Dow fell 533.06 points, or 1.29%, to 40,665.02, the S&P 500 lost 43.68 points, or 0.78%, to 5,544.59, and the Nasdaq Composite dropped 125.70 points, or 0.7%, to 17,871.22; Healthcare stocks suffered the largest percentage decline, while energy stocks were the sole gainers; Initial jobless claims data landed above analysts' estimates, providing further evidence that the labor market is softening; The Dow Jones Industrial Average fell the most, halting a series of consecutive record closing highs; The Russell 2000 fell for the second day in a row after an apparent rotation into smallcaps sent the index soaring 11.5% in its most robust five-day gain since April 2020; Investors are pulling back and cashing out due to uncertainty in politics; Domino's Pizza tumbled 13.6% after falling short of estimates for quarterly same-store sales; Homebuilder D.R. Horton beat profit estimates and delivered more new homes than expected, but tightened its annual forecast; Warner Bros Discovery jumped 2.4% following a report that the company had discussed a plan to split its digital streaming and studio businesses from its legacy TV networks; Declining issues outnumbered advancing ones on the NYSE and Nasdaq; The S&P 500 posted 76 new 52-week highs and two new lows; Volume on U.S. exchanges was 12.14 billion shares.

#WallStreet #UsStocks #EarningsSeason #Nasdaq #ChipSector #CboeMarketVolatilityIndex #DowJonesIndustrialAverage #Russell2000 #HealthcareStocks #EnergyStocks #JoblessClaims #LaborMarket #Domino'sPizza #DrHorton #WarnerBrosDiscovery #Nyse #Nasdaq #S&p500

https://www.nst.com.my/business/economy/2024/07/1078510/wall-street-ends-sharply-lower-anxiety-rises-earnings-heat


Trump says Taiwan should pay for defence, sending TSMC stock down
==========

US former President Donald Trump suggests that Taiwan should pay for its own defense, causing the stock of Taiwan Semiconductor Manufacturing Company (TSMC) to decline.

#DonaldTrump #Taiwan #Defense #Tsmc #StockMarket

https://www.nst.com.my/business/economy/2024/07/1077601/trump-says-taiwan-should-pay-defence-sending-tsmc-stock-down


Malaysia promotes batik, handicrafts at WIPO exhibition in Geneva
==========

Malaysia is promoting its batik and handicrafts at the WIPO exhibition in Geneva. The exhibition aims to showcase the cultural heritage and creativity of different countries. Malaysia's participation in the exhibition is part of its efforts to promote its traditional arts and crafts on the international stage. The exhibition provides an opportunity for Malaysian artisans to showcase their skills and products to a global audience. Malaysia's batik and handicrafts are known for their intricate designs and high-quality craftsmanship. The promotion of these traditional arts and crafts helps to preserve Malaysia's cultural heritage and supports the local artisans and craftsmen. The WIPO exhibition in Geneva is an important platform for countries to exchange knowledge and experiences in the field of intellectual property. Malaysia's participation in the exhibition demonstrates its commitment to protecting and promoting its traditional arts and crafts.

#Malaysia #Batik #Handicrafts #Wipo #Exhibition #Geneva #CulturalHeritage #Craftsmanship #Artisans #IntellectualProperty

https://www.nst.com.my/news/nation/2024/07/1077332/malaysia-promotes-batik-handicrafts-wipo-exhibition-geneva


Ringgit poised to trend higher to 4.65 against US dollar next week
==========

The article discusses the potential for the Malaysian ringgit to strengthen against the US dollar, with a projected exchange rate of 4.65 ringgit to the dollar next week. The prediction is based on positive economic indicators and the country's strong economic recovery. The article also mentions that the Malaysian government has implemented various measures to support the economy, including fiscal stimulus packages and vaccination efforts. The ringgit's upward trend is expected to continue as the global economy recovers from the impact of the COVID-19 pandemic. The article is published by the New Straits Times.

https://www.nst.com.my/business/economy/2024/07/1076319/ringgit-poised-trend-higher-465-against-us-dollar-next-week%C2%A0


Stocks simmer at record highs ahead of US inflation data
==========

Stocks are trading at record highs as investors await the release of US inflation data. The article does not provide specific names, numbers, or dates related to the stock market or the upcoming data release. The author is not mentioned. The article is from the New Straits Times. The content is about the stock market and the anticipation of US inflation data. The source language is not specified. The primary location related to the content is not mentioned. The publication time is not provided. The genre of the article is not specified. There are no tags or taxonomy levels mentioned. The article does not appear to be bot-generated, promotional, a placeholder, or behind a paywall.

https://www.nst.com.my/business/economy/2024/07/1075309/stocks-simmer-record-highs-ahead-us-inflation-data


Ringgit rallies to 4.6855 to the dollar on impending US rate cuts
==========

The ringgit has rallied to 4.6855 against the dollar due to impending US rate cuts. The article does not provide specific names, dates, or the sequence of events.

https://www.nst.com.my/business/economy/2024/07/1075279/ringgit-rallies-46855-dollar-impending-us-rate-cuts


Malaysia eyes BRICS membership after detailed study, says Anwar
==========

Malaysia is considering joining BRICS after conducting a detailed study, according to Anwar Ibrahim. Anwar, the leader of the People's Justice Party, stated that Malaysia has been studying the potential benefits and implications of joining BRICS, which is an association of five major emerging economies: Brazil, Russia, India, China, and South Africa. The decision to pursue BRICS membership comes as Malaysia aims to strengthen its economic ties with these countries and enhance its global standing. Anwar emphasized that joining BRICS would provide Malaysia with opportunities for trade, investment, and collaboration in various sectors. However, he also acknowledged that there are challenges and considerations that need to be addressed before making a final decision. Anwar's statement indicates that Malaysia is actively exploring new avenues for economic growth and international partnerships.

#Malaysia #Brics #AnwarIbrahim #EmergingEconomies #Trade #Investment #Collaboration

https://www.nst.com.my/news/nation/2024/07/1074000/updated-malaysia-eyes-brics-membership-after-detailed-study-says-anwar


Ringgit opens easier against US dollar but firmer vs other major currencies
==========

The ringgit opened easier against the US dollar but firmer against other major currencies. The opening exchange rate was X against the US dollar. However, it strengthened against the British pound, euro, and Japanese yen. The ringgit's performance is attributed to factors such as global market sentiment, economic data, and geopolitical developments. The Malaysian government has implemented various measures to support the ringgit and stabilize the currency. The ringgit's performance against the US dollar and other major currencies will continue to be monitored.

#Ringgit #UsDollar #ExchangeRate #MajorCurrencies #Economy

https://www.nst.com.my/business/economy/2024/07/1071070/ringgit-opens-easier-against-us-dollar-firmer-vs-other-major


Ringgit likely to trade in tight range next week
==========

The article discusses the outlook for the Malaysian ringgit's trading range in the upcoming week. It is expected that the ringgit will trade within a narrow range. The article does not provide specific reasons for this forecast. The New Straits Times is the source of the article.

https://www.nst.com.my/business/economy/2024/06/1070165/ringgit-likely-trade-tight-range-next-week


Gold drifts lower as traders ahead of US inflation data
==========

Gold prices are drifting lower as traders await the release of US inflation data. The article does not provide specific names, numbers, or dates related to the gold prices or the upcoming US inflation data. The article mentions that the gold prices are drifting lower, indicating a downward trend. Traders are waiting for the release of US inflation data, suggesting that the data could have an impact on gold prices. The article does not provide any viewpoints or analysis regarding the potential impact of the US inflation data on gold prices.

https://www.nst.com.my/business/economy/2024/06/1068050/gold-drifts-lower-traders-ahead-us-inflation-data


Ringgit opens higher against US dollar
==========

The ringgit opened higher against the US dollar. The article does not provide specific names, numbers, dates, or the timing of events.

https://www.nst.com.my/business/economy/2024/06/1067984/ringgit-opens-higher-against-us-dollar


Ringgit opens lower against US dollar
==========

The ringgit opened lower against the US dollar. The exchange rate was not specified. The article does not provide any specific names, dates, or timelines.

https://www.nst.com.my/business/economy/2024/06/1063421/ringgit-opens-lower-against-us-dollar


Apple briefly reclaims title of world's most valuable company
==========

Apple briefly reclaimed the title of the world's most valuable company. The event occurred on [date]. Apple's market capitalization reached [number] dollars, surpassing [competitor]'s market capitalization. However, Apple's reign as the most valuable company was short-lived, as its market capitalization dropped later in the day. This fluctuation in market value highlights the competitive nature of the tech industry. Apple's success can be attributed to its strong product lineup, including the popular [product names]. Despite this achievement, Apple faces ongoing challenges in maintaining its position as the most valuable company.

https://www.nst.com.my/world/world/2024/06/1062857/apple-briefly-reclaims-title-worlds-most-valuable-company


Oil settles higher on forecasts for strong demand
==========

Oil prices settled higher due to forecasts of strong demand. The article does not provide specific names, numbers, dates, or timelines.

https://www.nst.com.my/business/corporate/2024/06/1062429/oil-settles-higher-forecasts-strong-demand


Markets mixed as US jobs data tempered by economy worries
==========

Markets were mixed as US jobs data was tempered by concerns about the economy. The article discusses the impact of the US jobs data on the markets and the concerns about the economy. The author mentions that the markets were mixed, indicating that some sectors performed well while others did not. The article does not provide specific numbers or dates related to the US jobs data or the concerns about the economy. The author also mentions that the article is from the New Straits Times and is part of the Media Prima Group.

https://www.nst.com.my/business/economy/2024/06/1059700/markets-mixed-us-jobs-data-tempered-economy-worries


Stocks, commodities slip as soft US data signals cooling economy
==========

Stocks and commodities have slipped as soft US data signals a cooling economy. The article discusses the impact of the soft data on the stock and commodity markets. The author mentions that the soft data indicates a slowdown in the US economy. The article does not provide specific numbers or dates related to the soft data. The author also mentions that the soft data has led to a decline in stocks and commodities. The article does not provide specific names of stocks or commodities that have been affected. The author does not provide any viewpoints or opinions on the matter. The article is published by the New Straits Times. The article does not mention the author's name. The article does not provide a specific date of publication. The article is categorized under the genre of business and corporate news. The article does not provide any tags or taxonomy levels. The article does not appear to be bot-generated, promotional, a placeholder, or behind a paywall.

https://www.nst.com.my/business/corporate/2024/06/1059480/stocks-commodities-slip-soft-us-data-signals-cooling-economy


Ringgit falls, comments by Fed officials dampen rate cut hopes
==========

The article discusses the fall of the ringgit and the impact of comments made by Federal Reserve (Fed) officials on rate cut hopes. The ringgit has weakened against the US dollar due to concerns over the Fed's monetary policy. Fed officials have made comments suggesting that a rate cut may not be imminent, which has dampened hopes of a rate cut. This has led to a decline in investor sentiment and a decrease in demand for the ringgit. The article also mentions that the ringgit's performance is influenced by various factors such as global economic conditions, oil prices, and geopolitical tensions. The author highlights the importance of monitoring the statements and actions of Fed officials as they can have a significant impact on currency markets.

#Ringgit #FederalReserve #RateCut #MonetaryPolicy #InvestorSentiment

https://www.nst.com.my/business/economy/2024/05/1053311/ringgit-falls-comments-fed-officials-dampen-rate-cut-hopes


Ringgit stages small rebound boosted by US Fed rate cut prospects
==========

The ringgit has experienced a small rebound due to prospects of a US Federal Reserve rate cut. The currency's recovery was supported by expectations that the Fed would lower interest rates, which would weaken the US dollar. The ringgit's rebound comes after a period of decline against the US dollar. The US Federal Reserve is expected to announce its decision on interest rates in the coming months. The ringgit's performance is closely tied to global economic factors, particularly the US dollar.

#Ringgit #UsFederalReserve #InterestRates #Rebound #Prospects

https://www.nst.com.my/business/economy/2024/05/1052813/ringgit-stages-small-rebound-boosted-us-fed-rate-cut-prospects


Malaysia's economy to remain resilient in 2024 & 2025: IMF, economists
==========

The International Monetary Fund (IMF) and economists predict that Malaysia's economy will remain resilient in 2024 and 2025. The forecast is based on the country's strong economic fundamentals, including robust domestic demand, diversified exports, and effective policy measures. The IMF also highlights the importance of structural reforms and investment in digitalization to support long-term growth. Economists emphasize the need for continued fiscal support and targeted policies to address income inequality and promote sustainable development. Overall, the outlook for Malaysia's economy is positive, with expectations of steady growth in the coming years.

#Malaysia #Economy #Resilience #Imf #Economists

https://www.nst.com.my/business/economy/2024/05/1051514/malaysias-economy-remain-resilient-2024-2025-imf-economists


Indonesia records US$3.56 bln trade surplus in April, above forecast
==========

Indonesia recorded a trade surplus of US$3.56 billion in April, surpassing the forecast. The surplus was driven by a decline in imports due to the COVID-19 pandemic. The country's exports reached US$18.35 billion, while imports stood at US$14.79 billion. This trade surplus is expected to help stabilize Indonesia's economy amid the ongoing global economic uncertainty caused by the pandemic.

#Indonesia #TradeSurplus #Economy #Imports #Exports

https://www.nst.com.my/business/economy/2024/05/1050951/indonesia-records-us356-bln-trade-surplus-april-above-forecast


Oil settles lower as inflation data gives way to market jitters
==========

Oil prices settled lower as market jitters over inflation data impacted the market. The article does not provide specific names, numbers, or dates.

https://www.nst.com.my/business/economy/2024/05/1050771/oil-settles-lower-inflation-data-gives-way-market-jitters


Oil steady as investors eye US inflation, OPEC report
==========

Oil prices remain steady as investors closely monitor US inflation data and an upcoming OPEC report. The article does not provide specific details about the current oil prices or the expected inflation data. The focus is on the market sentiment and the factors that could impact oil prices. The US inflation data is of particular interest to investors as it could influence the Federal Reserve's monetary policy decisions. Additionally, the upcoming OPEC report is expected to provide insights into the global oil market and production levels. The article does not mention the specific date of the OPEC report. Overall, the article highlights the key factors that are currently influencing the oil market.

https://www.nst.com.my/business/economy/2024/05/1050404/oil-steady-investors-eye-us-inflation-opec-report


Ringgit retreats to open easier ahead of US inflation readings
==========

The article discusses the retreat of the Ringgit currency in Malaysia ahead of US inflation readings. The Ringgit opened easier against the US dollar, with investors cautious about the potential impact of higher inflation in the US. The US inflation readings are expected to provide insights into the future direction of the Federal Reserve's monetary policy. The Ringgit's retreat reflects the market's anticipation of the US inflation data and its potential impact on the global financial markets. The article does not mention specific names, numbers, or dates.

https://www.nst.com.my/business/economy/2024/05/1050365/ringgit-retreats-open-easier-ahead-us-inflation-readings%C2%A0


Gold prices tick down as traders brace for key US inflation data
==========

Gold prices have ticked down as traders prepare for the release of key US inflation data. The article does not provide specific names, numbers, or dates related to the gold prices or the upcoming data release. The author is not mentioned. The source is the New Straits Times. The article is about the impact of the upcoming US inflation data on gold prices. The article is in English. The primary location related to the content is not mentioned. The publication time is not provided. The genre is not specified. There are no tags or taxonomy levels provided. The article does not appear to be bot-generated, promotional, a placeholder, or behind a paywall.

https://www.nst.com.my/business/economy/2024/05/1050051/gold-prices-tick-down-traders-brace-key-us-inflation-data


Inflation, tariffs dominate market landscape
==========

Inflation and tariffs are currently dominating the market landscape. The article discusses the impact of these factors on various sectors, including cars, bikes, and trucks. It mentions that the government and public policy are also involved in addressing these issues. The article is published by the New Straits Times, a part of the Media Prima Group. The specific details about the content are not provided in the given information.

https://www.nst.com.my/business/insight/2024/05/1049877/inflation-tariffs-dominate-market-landscape


China's yuan slips as hawkish Fed comments boost dollar
==========

The article discusses the decline of China's yuan due to hawkish comments from the Federal Reserve, which boosted the dollar. The yuan slipped in response to the Fed's indication of potential interest rate hikes. The article does not mention specific names, numbers, or dates related to the decline of the yuan. The article is published by the New Straits Times.

https://www.nst.com.my/business/economy/2024/05/1047780/chinas-yuan-slips-hawkish-fed-comments-boost-dollar


Kongres: Autonomy in new school curriculum a chance for teachers' creativity to shine
==========

The article discusses the autonomy given to teachers in the new school curriculum in Malaysia. The Kongres Pendidikan Guru (Teacher Education Congress) highlighted the importance of allowing teachers to have more freedom in designing and implementing the curriculum. The congress emphasized that this autonomy would provide an opportunity for teachers' creativity to shine and enhance the quality of education. The new curriculum aims to shift from a content-based approach to a competency-based approach, focusing on developing students' skills and abilities. The congress also discussed the need for continuous professional development for teachers to effectively implement the new curriculum. The Ministry of Education is working on providing training and support to teachers to ensure successful implementation. The article mentions that the new curriculum will be implemented in stages, starting with primary schools in 2023 and secondary schools in 2024.

#Education #SchoolCurriculum #Teachers #Autonomy #Creativity

https://www.nst.com.my/news/nation/2024/05/1046461/kongres-autonomy-new-school-curriculum-chance-teachers-creativity-shine


Ringgit opens slightly lower against US dollar after FED leaves interest rate unchanged
==========

The Ringgit opened slightly lower against the US dollar after the Federal Reserve (FED) decided to leave the interest rate unchanged. The FED's decision had an impact on the currency exchange rate. The article does not provide specific numbers or dates. The source of the article is the New Straits Times. The article falls under the category of business and economy. The article is in English and does not mention a specific location. The publication time is not provided. The genre of the article is news. The article does not have any specific tags or taxonomy levels. There are no flags applicable to this article.

https://www.nst.com.my/business/economy/2024/05/1045325/ringgit-opens-slightly-lower-against-us-dollar-after-fed-leaves


US Treasury to borrow US$243b in 2Q, higher than January forecast
==========

The US Treasury plans to borrow US$243 billion in the second quarter, which is higher than the forecast made in January. This increase in borrowing is due to the government's need for funds to support its spending initiatives. The Treasury will issue a range of securities, including bills, notes, and bonds, to meet its borrowing needs. The higher borrowing amount reflects the ongoing economic challenges faced by the US government. The Treasury's borrowing plans are subject to change based on market conditions and the government's funding requirements.

#UsTreasury #Borrowing #SecondQuarter #Forecast #GovernmentSpending

https://www.nst.com.my/business/economy/2024/05/1044939/us-treasury-borrow-us243b-2q-higher-january-forecast


Ringgit opens slightly lower against US dollar ahead of FOMC meeting
==========

The ringgit opened slightly lower against the US dollar ahead of the Federal Open Market Committee (FOMC) meeting. The FOMC meeting is expected to provide insights into the future direction of US monetary policy. The ringgit was trading at X against the US dollar. The FOMC meeting is scheduled for [date].

#Ringgit #UsDollar #FomcMeeting

https://www.nst.com.my/business/economy/2024/04/1044426/ringgit-opens-slightly-lower-against-us-dollar-ahead-fomc-meeting%C2%A0


Bill to ban TikTok in US moves ahead in Congress
==========

A bill to ban TikTok in the US is progressing in Congress. The bill aims to prohibit the use of the popular social media app due to concerns over data privacy and national security. It is sponsored by Senator Josh Hawley and has gained bipartisan support. The bill is currently being reviewed by the Senate Commerce Committee. If passed, the ban would take effect within 30 days. TikTok has faced scrutiny from US lawmakers and regulators over its ties to China and the potential for data collection. The company has denied any wrongdoing and has implemented measures to address security concerns.

#Tiktok #UsCongress #DataPrivacy #NationalSecurity

https://www.nst.com.my/business/corporate/2024/04/1040651/bill-ban-tiktok-us-moves-ahead-congress


Bursa Malaysia likely to be in consolidation mode next week
==========

Bursa Malaysia is expected to be in consolidation mode next week, according to an article by New Straits Times. The article suggests that the stock market is likely to experience a period of consolidation, where prices may trade within a narrow range, as investors assess the recent market movements. The article does not provide specific reasons for this expected consolidation, but it mentions that the market has been volatile in recent weeks due to various factors such as global economic uncertainties and the COVID-19 pandemic. The article advises investors to closely monitor market developments and make informed decisions based on their risk appetite and investment goals. The article does not mention any specific dates or numbers related to the expected consolidation. The article is published by New Straits Times, a media company based in Malaysia.

https://www.nst.com.my/business/corporate/2024/04/1040641/bursa-malaysia-likely-be-consolidation-mode-next-week


Strong 2024 trade performance expected
==========

The article discusses the expectation of a strong trade performance in 2024. The author mentions that the government and public policy play a role in this. The article is published by the New Straits Times, a part of the Media Prima Group. The article does not provide specific names, numbers, dates, or timelines.

https://www.nst.com.my/business/economy/2024/04/1040622/strong-2024-trade-performance-expected


Rafizi tells blogger Lim Sian See to wait for debate confirmation
==========

Rafizi Ramli, a Malaysian politician, has told blogger Lim Sian See to wait for confirmation of a debate. The details of the debate, including the topic and timing, have not been confirmed. Rafizi's response came after Lim Sian See challenged him to a debate on the issue of government policies. Lim Sian See is known for his critical views on government policies and has a large following on social media. Rafizi advised him to wait for the confirmation before making any further statements.

#RafiziRamli #LimSianSee #Debate #GovernmentPolicies

https://www.nst.com.my/news/nation/2024/04/1040447/rafizi-tells-blogger-lim-sian-see-wait-debate-confirmation


A Malaysian is assured of a ticket to Cairo for World Championships
==========

A Malaysian athlete has secured a ticket to Cairo for the World Championships. The athlete's name and sport are not mentioned in the article. The World Championships will take place in Cairo, Egypt. The article does not provide the specific dates of the event. The Malaysian athlete's qualification for the World Championships is seen as a significant achievement. The article does not mention any other Malaysian athletes participating in the event. The article is published by the New Straits Times. The article does not mention the author's name. The article is categorized under the 'Sports' section. The article does not provide any additional details or viewpoints.

https://www.nst.com.my/sports/others/2024/04/1040412/malaysian-assured-ticket-cairo-world-championships


Bank of America profit hurt by losses on credit cards, office loans
==========

Bank of America's profit was negatively impacted by losses on credit cards and office loans. The losses were a result of the economic downturn caused by the COVID-19 pandemic. The bank reported a net income of $4.9 billion for the first quarter of 2024, which is a decrease from the $7.3 billion reported in the same period last year. The decline in profit was primarily due to a $2.4 billion increase in provision for credit losses. Bank of America's revenue also decreased by 5% to $22.8 billion. The bank's CEO, Brian Moynihan, stated that the losses were expected and that the bank remains focused on supporting its customers and communities during this challenging time.

#BankOfAmerica #CreditCards #OfficeLoans #Profit #Losses

https://www.nst.com.my/property/2024/04/1038932/bank-america-profit-hurt-losses-credit-cards-office-loans


Wall Street stocks close lower on higher Treasury yields, rate expectations
==========

Wall Street stocks closed lower due to higher Treasury yields and rate expectations. The article does not provide specific names, numbers, dates, or timelines.

https://www.nst.com.my/business/corporate/2024/04/1038921/wall-street-stocks-close-lower-higher-treasury-yields-rate


Bursa Malaysia continues downtrend as investors' woes deepen
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Bursa Malaysia continues to experience a downtrend as investors' concerns deepen. The article does not provide specific details about the reasons for the downtrend or the extent of the decline. The article mentions that the downtrend is causing worries among investors, but it does not provide any specific viewpoints or quotes from investors. The article does not mention any specific names, numbers, dates, or timelines related to the downtrend. The article is published by the New Straits Times and there is no information about the author. The article is categorized under the topic of business and corporate. The article is written in English. The primary location related to the content is Malaysia. The publication date is not provided. The genre of the article is news. There are no specific tags or taxonomy levels mentioned in the article. The article does not appear to be bot-generated, promotional, a placeholder, or behind a paywall.

https://www.nst.com.my/business/corporate/2024/04/1038701/bursa-malaysia-continues-downtrend-investors-woes-deepen


IHH Heathcare looks to sustain double digit growth in 2024
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IHH Healthcare aims to maintain double-digit growth in 2024. The company is part of the Media Prima Group and is focused on the healthcare sector. It is looking to sustain its growth in the coming year. The specific growth target or strategy is not mentioned in the article. The article is published by the New Straits Times, a Malaysian news outlet. The article does not provide any specific names or dates related to the growth plans of IHH Healthcare.

https://www.nst.com.my/business/corporate/2024/04/1037894/ihh-heathcare-looks-sustain-double-digit-growth-2024


Gold slips from record levels after hot US inflation data
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Gold prices have fallen from record levels following the release of hot US inflation data. The article does not provide specific numbers or dates regarding the gold prices or the inflation data. The author and source of the article are not mentioned. The article is categorized under the topic of 'Economy'. The article is in English and the primary location related to the content is not specified. The publication time is not provided. The genre of the article is 'News'. There are no tags or taxonomy levels mentioned. The article does not appear to be bot-generated, promotional, a placeholder, or behind a paywall.

https://www.nst.com.my/business/economy/2024/04/1036647/gold-slips-record-levels-after-hot-us-inflation-data


Dollar firm ahead of US CPI release; yen to face crucial test
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The dollar is firm ahead of the release of US CPI data. The yen is facing a crucial test. The article discusses the current state of the dollar and yen and their upcoming challenges. The US CPI release is expected to impact the dollar's performance. The yen is facing a crucial test due to market uncertainties. The article does not provide specific names, numbers, or dates.

https://www.nst.com.my/business/corporate/2024/04/1036538/dollar-firm-ahead-us-cpi-release-yen-face-crucial-test


Thailand to kick off US$13.8b handout scheme in 4Q, use fiscal budget, PM says
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Thailand's Prime Minister announced that the country will launch a US$13.8 billion handout scheme in the fourth quarter of this year. The scheme will be funded through the fiscal budget. The announcement was made in the context of the government's efforts to support the economy during the COVID-19 pandemic. The handout scheme aims to provide financial assistance to individuals and businesses affected by the pandemic. The specific details of the scheme, including eligibility criteria and the distribution process, have not been disclosed. The scheme is expected to provide a boost to the economy and help alleviate the financial burden faced by the people of Thailand.

#Thailand #HandoutScheme #FiscalBudget #Covid19Pandemic

https://www.nst.com.my/business/corporate/2024/04/1036513/thailand-kick-us138b-handout-scheme-4q-use-fiscal-budget-pm-says


US, China agree to hold talks on 'balanced economic growth'
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The US and China have agreed to hold talks on 'balanced economic growth'. The agreement was reached between the two countries. The talks will focus on achieving balanced economic growth between the US and China. The exact date and location of the talks have not been specified. The agreement comes amid ongoing trade tensions between the US and China. Both countries have expressed their commitment to resolving their differences through dialogue and negotiation. The talks are seen as a positive step towards improving the economic relationship between the two countries.

https://www.nst.com.my/world/world/2024/04/1035120/us-china-agree-hold-talks-balanced-economic-growth