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Further liberalisation of foreign exchange admin policy
KUALA LUMPUR: There will be further liberalisation of the foreign exchange administration (FEA) policy effective Aug 30 to provide greater flexibility and efficiency for businesses in better managing their foreign exchange risk and conducting daily operations. In a statement, Bank
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GDP growth 4.9% in second quarter 2019
KUALA LUMPUR: Malaysia’s economy expanded 4.9% in the second quarter of 2019 (2Q19), after posting a growth of 4.5% during 1Q19, according to the Department of Statistics (DOS) Malaysia. DOS chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said
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The mystery man in Goldman Sachs – 1MDB deal
NEW YORK: Andrea Vella was Goldman Sachs’s top dealmaker in Hong Kong. He had a nose for splashy trades, a fondness for the Bentley Continental, and a vague enough resemblance to George Clooney that there was even a joke among
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KLCI struggles to stay above 1,600 level
KUALA LUMPUR: The FBM KLCI was put on a roller-coaster ride yesterday after the overnight big equity rout in the US on Wednesday as rising concern over the global economy haunted the equity markets again. The benchmark index dived to
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Asia stocks nurse losses, bonds hold huge gains
SYDNEY: Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-U.S. trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows. U.S.
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Dow Jones plummets 800 points, renewing recession fears
NEW YORK: The Dow Jones Industrial Average plummeted more than 800 points on Wednesday, as investors suffered their worst day of the year as new concerns arose over data on global economic growth. The tumble followed a series of concerning
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India’s palm oil import hiked 18.3% last month
NEW DELHI: India imported 18.3% more palm oil in July 2019 compared with June 2019, according to the monthly data released by the industry group, Solvent Extractors’ Association of India (SEA) yesterday. It said the country’s palm oil imports rose
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Oil prices drop as data shows surprise climb in U.S. inventories
TOKYO: Oil prices fell on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week, erasing some gains from the last session that were stoked after Washington said it would delay tariffs on some Chinese goods. The move
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Hong Kong’s Cathay shares jump 7.4% at open after slump
HONG KONG: Shares in Cathay Pacific opened 7.4% higher on Wednesday in a relief rally after the Hong Kong airport reopened and the airline and its top shareholder condemned protests and vowed to follow China’s aviation regulations. The share price
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Singapore slashes GDP forecast to the range of 0% to 1%
SINGAPORE: Singapore slashed its full-year economic growth forecast on Tuesday as global conditions were seen worsening and data confirmed the slowest growth rate in a decade amid mounting fears of recession in the city-state. The government cut its forecast range
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