Philippines records highest weekly foreign outflow in ASEAN, Malaysia sees marginal improvement — MIDF

KUALA LUMPUR, March 20 (NNN-Bernama) — The Philippines recorded a weekly net foreign outflow of US$496.9 million (US$1 = RM4.4680) last week, the highest among ASEAN countries, while outflow from Malaysia narrowed, MIDF Research said. “This is (Philippines’) sixth consecutive week of net foreign outflows. It posted its biggest trade deficit in five months…

Bursa Malaysia opens lower on continued caution

By Siti Radziah Hamzah KUALA LUMPUR, March 20 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, traded weaker in the early session on Monday amid shaky market sentiments on concerns over the US banking and Credit Suisse crises. At 9.25 am, the benchmark FBM KLCI fell 9.83 points, or 0.70 per cent,…

Malaysian ringgit extends gains to open higher against US dollar

KUALA LUMPUR, March 20 (NNN-Bernama) — Malaysian ringgit extended last week’s gains to trade higher against the US dollar in the early session Monday, driven by investors’ return to emerging currencies as the global banking crisis eased and ahead of the decision on US interest rates in the middle of the week,…

Malaysia obtains understanding for hydrogen gas investment in Indonesia

KUALA LUMPUR, March 20 (NNN-Bernama) — Malaysia has obtained an understanding with the Indonesian government over the investment and supply of hydrogen gas to Nusantara, the neighbouring country’s new capital city in East Kalimantan. Prime Minister Anwar Ibrahim said Indonesian President Joko Widodo (Jokowi) had previously informed him of the understanding…

Malaysia secures US$5.35 bln potential investments from South Korea

KUALA LUMPUR, March 19 (NNN-Bernama) — Malaysia’s International Trade and Industry Ministry (MITI) has secured potential investments worth RM24 billion (US$5.35 billion) as well as RM4.24 billion (US$945.5 million) of potential exports of products and services through its recent trade and investment mission to South Korea. The mission, led by MITI Minister Tengku Zafrul…

Kazakhstan election another step forward in political reforms

By R.Ravichandran KUALA LUMPUR, March 19 (NNN-Bernama) — Kazakhstan’s snap Parliamentary election Sunday is set to be another step forward in the ongoing political reforms being carried out by President Kassym-Jomart Tokayev in the vast Central Asian country rocked by unprecedented and rare protests in January last year. The election is being held following the…

Malaysia postpones foreign worker quota approval, application

PUTRAJAYA (Malaysia), March 18 (NNN-Bernama) — The Malaysian government has postponed the quota application and approval for foreign workers, including through the Foreign Worker Employment Relaxation Plan (PKPPA), beginning Saturday until a date to be announced later. Human Resource Minister V. Sivakumar said the decision was made after the ministry approved a total…

Malaysian PM Anwar confident Unity Govt will continue to be strong

SHAH ALAM (Malaysia), March 18 (NNN-Bernama) — Malaysian Prime Minister Anwar Ibrahim expressed his confidence that the Unity Government he leads will last for the next five years. Delivering his speech at the PKR Special National Congress 2023 here, Sunday, Anwar, who is also the party’s president, said the confidence was based on…

Malaysian ringgit to trade with upward bias versus US dollar ahead of Fed decision

By Anas Abu Hassan KUALA LUMPUR, March 18 (NNN-Bernama) — Malaysian ringgit is expected to trade in cautious mode with an upward bias against the US dollar next week ahead of a decision by the United States Federal Reserve (Fed) on its monetary policy. Bank Muamalat Malaysia Bhd chief economist…

Bursa Malaysia likely to see cautious trading next week, US interest rate in focus

By Karina Imran KUALA LUMPUR, March 18 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, is likely to see cautious trading next week but the attractive valuations of some stocks on the local bourse may attract bargain hunters, said an analyst.  Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng…