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Ringgit firms slightly against US dollar as markets await OPR call
KUALA LUMPUR, March 5 — The ringgit opened marginally higher against the US dollar on Thursday as traders shifted focus to the overnight policy rate (OPR) announcement later in the day, despite the ongoing conflict in the Middle East. At
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Thailand’s CP Axtra to expand Malaysia footprint with RM1.7b purchase of The Food Purveyor
KUALA LUMPUR, March 4 — Thailand’s CP Axtra Public Company Ltd has agreed to acquire The Food Purveyor, the Malaysian operator of Village Grocer and Ben’s Independent Grocer, in a deal valued at RM1.7 billion. The Edge reported that CP Axtra
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US shale boom leaves America better shielded from war‑driven oil outages, says ExxonMobil
NEW YORK, March 4 — Thanks to the US shale boom, the United States is “well positioned” to navigate energy market disruptions due to the Middle East war, a top ExxonMobil executive said yesterday. Jack Williams, senior vice president at
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Bursa Malaysia slips at the open, tracking overnight losses on Wall Street
KUALA LUMPUR, March 4 — Bursa Malaysia opened slightly lower today, tracking Wall Street’s weaker performance overnight. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.83 points, or 0.16 per cent, to 1,709.12 from Tuesday’s close of
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Amazon delays, rising prices and stranded tankers: How the Hormuz shutdown is already hitting consumers
PARIS, March 4 — With few captains willing to brave the Strait of Hormuz as war rages around the Gulf, companies will have to do business without one of the world’s most vital shipping lanes, especially for oil and gas.
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Ringgit opens firmer but stays under pressure as geopolitical fears lift US dollar
KUALA LUMPUR, March 4 — The ringgit opened slightly higher against the US dollar today but is expected to remain under pressure amid mounting geopolitical tensions, with traders continuing to favour the greenback as a safe-haven asset. At 8 am,
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Hormuz chaos: Insurers pull war cover as Iran says it will strike any vessel
LONDON, March 3 — Insurance companies are cancelling war risk coverage for vessels in the Middle East Gulf as the widening Iran conflict disrupts shipping, leaving tankers damaged or stranded and at least two people dead. Shipping through the Strait
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Travel stocks wipe out RM88.7b after Middle East war grounds flights worldwide
LONDON, March 3 — Travel shares tumbled yesterday, shedding US$22.6 billion (RM88.7 billion) as escalating conflict between the US, Israel and Iran disrupted flights worldwide, closed key Middle Eastern hubs and sent oil prices surging, with analysts warning of weeks
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Bursa rebounds strongly after yesterday’s sell-off, FBM KLCI up over 14 points at open
KUALA LUMPUR, March 3 — Bursa Malaysia rebounded to open higher today as bargain hunting emerged after yesterday’s sell-off. At 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 14.20 points, or 0.83 per cent, to 1,714.41 from Monday’s close
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Middle East turmoil sends US dollar up, euro and yen on back foot
TOKYO, March 3 — The yen and euro were broadly lower today as the widening Middle East conflict focused attention on countries dependent on energy imports and how central banks may respond to inflation pressures. The dollar benefited from safe-haven
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