<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 8): Kicking off a good start in 2018, the ringgit has appreciated not just against the greenback but also against the Singapore dollar, recording a 14-month high today at 2.9994 since the Oct 24, 2016 of 2.9948.</p></div>

<div class=newsTextDataWrapInner><p>The ringgit strengthened to a high of 2.9991.</p></div>

<div class=newsTextDataWrapInner><p>According to UOB Malaysia Senior Economist Julia Goh in a macro note today, one of a few reasons for the stronger ringgit is that the ringgit is coming from a higher base of close to 4.00 against the US dollar (March 2008: 3.20; May 2013: 3.05), which is considered undervalued.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Goh said the economic conditions are stronger than in 2008 and 2013. “Real gross domestic product accelerated to 3-year high of 6.2% y-o-y in 3Q17, prompting us to raise our 2017 growth outlook to 5.8%,” she added.</p></div>

<div class=newsTextDataWrapInner><p>Additionally, she pointed out that higher interest rates and stronger growth conditions provide a basis for Bank Negara Malaysia (BNM) to normalise interest rates. The recovery of oil prices is expected to continue into 2018, she said, underpinned by the synchronised recovery in global demand.</p></div>


KUALA LUMPUR (Jan 8): Kicking off a good start in 2018, the ringgit has appreciated not just against the greenback but also against the Singapore dollar, recording a 14-month high today at 2.9994 since the Oct 24, 2016 of 2.9948.

The ringgit strengthened to a high of 2.9991.

A...

Ringgit records 14-month high against Singapore dollar

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The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

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Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

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The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.

Ringgit likely to trade around 4.78 versus greenback next week

Attention this week will be on the March inflation rate, with the Department of Statistics Malaysia (DOSM) slated to put out Consumer Price Index (CPI) — the key gauge for inflation — data on Thursday.

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Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.

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The Nasdaq and the S&P 500 closed sharply lower on Friday and Treasury yields dipped as investors juggled lacklustre earnings, uncertainties surrounding central bank policy and geopolitical strife.

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<p>KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:</p>

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<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


<p>The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.</p>


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<p>All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.</p>

<p>Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.</p>


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<p>The Nasdaq and the S&amp;P 500 ended lower on Friday as Netflix shares weighed, but American Express (AmEx) kept the Dow afloat after quarterly earnings from both companies, while growing pessimism that the Federal Reserve (Fed) would cut interest rates soon also dented sentiment.</p>


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<p>Attention this week will be on the March inflation rate, with the <strong>Department of Statistics Malaysia</strong> (DOSM) slated to put out <strong>Consumer Price Index</strong> (CPI) — the key gauge for inflation — data on Thursday.</p>

<p>Inflation edged up by a higher-than-expected 1.8% i...

<p>Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.</p>

<p>Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.</p>


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<p>Parties in the Unity Government have their methods to ensure a win in the Kuala Kubu Baharu by-election next month, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.</p>

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<p>The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.</p>


IMF urges Bank of Japan to tread cautiously in raising interest rates

<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


<p>Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".</p>


<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>


<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>
