KUALA LUMPUR: Concluding tariff negotiations with the United States (US) ahead of President Donald Trump’s October visit is crucial for Malaysia, both to safeguard billions in export value and to strengthen its position as a reliable, forward-looking trading nation, an economist said. IPPFA Sdn Bhd director and country economist Mohd Sedek Jantan warned that delays in reaching a trade...
KUALA LUMPUR: Investment, trade and industry minister Tengku Zafrul Aziz is hopeful that some semiconductor manufacturers in Malaysia may be exempted from the 100% tariff the US has imposed on the import of semiconductor chips. Trump, who announced the tariff yesterday, said that it would not apply to companies that were already producing semiconductor chips in the US or...
(Reuters) -President Donald Trump on Saturday imposed a 30% tariff on imports from Mexico and the European Union starting on August 1 after weeks of negotiations with the key trading allies failed to reach a more comprehensive trade deal. The fresh tariffs were announced in separate letters posted on Truth Social on Saturday. Earlier this week,...
KUALA LUMPUR: Bank Negara has cut the Overnight Policy Rate (OPR) by 25 basis points to 2.75% at its July Monetary Policy Committee (MPC) meeting, marking the first rate adjustment since May 2023. The latest move by Bank Negara was broadly in line with market expectations, following a Bloomberg poll that showed economists were split, with...
Ministry’s decision will reinforce Malaysia’s export credibility, say groups PETALING JAYA: The appointment of the Investment, Trade and Industry Ministry (Miti) as the sole issuer of Non-Preferential Certificates of Origin (NPCO) has received broad support from business chambers and trade groups, who say the measure will help protect Malaysia’s trade integrity, particularly with the United States. However,...
KUALA LUMPUR: The ringgit edged up slightly against the US dollar on Monday, as a weaker greenback, weighed down by dovish sentiment from the United States (US) Federal Reserve (Fed) on interest rates and new trade developments related to China, supported the local currency, said an analyst At 8 am, the local currency inched up to...
KUALA LUMPUR: The ringgit opened marginally higher against the greenback on Friday, trading with a wider spread amid lingering uncertainty over global tariffs and weak US economic data, an economist said. At 8 am, the local currency inched up to 4.3115/3310 versus the greenback from Wednesday’s close of 4.3130/3185. The market was closed on Thursday for the Labour...
KUALA LUMPUR: United States (US) tech giants Intel and Oracle have raised concerns about the impact of the United States' (US) tariffs on their operations in Malaysia, says Tengku Datuk Seri Zafrul Abdul Aziz. In a video posted on X (formerly known as Twitter), the Investment, Trade and Industry Minister said both companies had engaged with...
SYDNEY: Major stock indexes plunged in Asia on Monday as U.S. President Donald Trump showed no sign of backing away from his sweeping tariff plans, and investors bet the mounting risk of recession could see the Federal Reserve cutting rates as early as May. Futures markets moved swiftly to price in almost five quarter-point cuts in...
Gold prices climbed to their highest level in nearly 11 weeks on Tuesday as the U.S. dollar slumped following President Donald Trump's inauguration and investors sought the safe-haven metal to hedge against uncertainty sparked by his tariff plans. Spot gold climbed 0.7% to $2,725.70 per ounce by 0804 GMT and hit its highest since Nov. 6,...
