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‘New model needed to rev up Bumiputera economy’

KUALA LUMPUR: Nearly 64 years after attaining independence, Malaysia’s bumiputera agenda has yet to bear the desired results. This is because poverty continues to haunt the biggest component of the nation’s population while bumiputera corporate equity ownership is still far below

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Malaysia needs clearer economic directions to attract FDI

KUALA LUMPUR: Former second finance minister Datuk Seri Johari Abdul Ghani has called for clearer economic directions to attract and sustain foreign direct investments (FDI) into Malaysia. Speaking at the annual Umno General Assembly today, he urged the government to speed

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Moody’s revises Malaysian banks outlook to stable from negative

KUALA LUMPUR: Moody’s Investors Service has revised Malaysia’s banking system outlook to stable from negative to reflect an improving operating environment. It expects banks’ prudent underwriting, together with strong capital and liquidity, will shield banks from any incremental financial stress caused

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Ringgit-denominated IRS by non-resident banks a positive signal by BNM to global investors

KUALA LUMPUR: Bank Negara Malaysia’s move to allow non-resident banks to trade in ringgit-denominated interest rate swap (IRS) effective March 15 is seen as a positive move by the central bank, signalling that it has the policy instrument and enough room

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Ringgit higher against US dollar at opening

KUALA LUMPUR: The ringgit has opened higher against the US dollar today on the back of a weaker greenback, said an analyst. At 9 am, the local note improved to 4.1180/1230 against the US dollar from 4.1250/1280 at yesterday’s close. Axi

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KLCI futures open higher

KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract (FKLI) on Bursa Malaysia Derivatives opened higher, in sync with the better underlying cash market performance. At 9.25 am, spot month March 2021 increased 10.0 points to 1,625.5, April 2021

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Ringgit lower at opening, as rising US treasury yields strengthen US dollar

KUALA LUMPUR: The ringgit opened lower versus the US dollar on the strengthening of the greenback due to rising US Treasury yields that continued to test cross-asset risk sentiment, with the US Congress on the cusp of sending a US$1.9 trillion

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Bursa Malaysia opens lower on profit-taking

KUALA LUMPUR: Bursa Malaysia opened lower today on profit-taking activities after yesterday’s strong performance and amid weaker Wall Street performance overnight. At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 9.02 points, or 0.57 per cent, to 1,579.43

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Ringgit lower amid risk-off sentiment in crude oil market

KUALA LUMPUR: The ringgit extended its downtrend against the US dollar on Friday morning, as stronger greenback sentiment curbed risk appetite for the local currency, a dealer said. At 9am, the ringgit stood at 4.0520/0580 against the US dollar from

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Proton unveils four new SE models

KUALA LUMPUR: Proton Holdings Bhd (Proton) has unveiled four new special edition (SE) models in its line-up, namely, the Persona and Exora Black Edition, as well as Iriz and Saga R3 Limited Edition, priced at RM55,600, RM69,800, RM44,800 and RM53,700, respectively. During the

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