KUALA LUMPUR: Bursa Malaysia closed at its intraday high on Monday, driven by bargain hunting in heavyweights with a focus on plantation and construction stocks. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.45 points, or 0.77 per cent, to 1,616.43 from Friday’s close of 1,603.98. The benchmark index opened 3.77 points firmer at...
KUALA LUMPUR: Bank Negara Malaysia (BNM) is unlikely to move in direct lockstep with the US Federal Reserve’s (Fed) aggressive move which slashed interest rates by a half-point during its Federal Open Market Committee (FOMC) meeting yesterday. The Fed decided to cut the Fed Funds Rate (FFR) by 50 basis points, bringing it to 4.75 per...
KUALA LUMPUR: The National Fraud Portal (NFP) launched today will leverage on artificial intelligence (AI) to detect suspicious transactions through predictive analysis. Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour said one of the NFP’s main characteristics is its modular design which allows for continuous improvements to be made on the existing basic infrastructure. He...
KUALA LUMPUR: Bank Negara’s international reserve rose to US$114.7bil as at July 31 compared with US$113.3bil as at July 15. “The reserves position is sufficient to finance 5.5 months of imports of goods and services, and is 1.0 times of the total short-term external debt,” the central bank said in a statement. The main components of the...
KUALA LUMPUR: The prosecution in Datuk Seri Najib Tun Razak's 1Malaysia Development Berhad (1MBD) trial told the High Court here that Bank Negara analyst Adam Ariff Mohd Roslan's testimony on the flow of money in 1MDB was based on his analysis on the former premier's bank statements as well as other documentation. Deputy Public Prosecutor Ahmad...
KUALA LUMPUR (Bernama): The ringgit is expected to trade range-bound with a downward bias against the US dollar this week as the greenback may gain support surrounding global economic uncertainties, an analyst said. Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said the local currency is expected to trade between...
Well amidst all this calamity, it would seem that adulting just got a little easier! Based on an article by The Edge Markets, as a means to help with the burden on businesses and households that could be affected by Covid-19, Bank Negara Malaysia has granted an automatic moratorium on loan repayments to small and medium enterprises...
