Malaysia’s January to August inflation rate rises 3.1 pct, in line with expectations

KUALA LUMPUR, Sept 23 (NNN-Bernama) — Malaysia’s inflation rate increased 3.1 per cent from January to August this year, in line with market expectations of 3.2 per cent for 2022. Minister in the Prime Minister’s Department (Economy) Mustapa Mohamed attributed the rise to solid domestic demand, elevated commodity prices, and…

ASEAN should accelerate actions to heighten energy security

By Voon Miaw Ping KUALA LUMPUR, Sept 23 (NNN-Bernama) — ASEAN should accelerate pre-emptive action to heighten energy security in the region, taking a cue from the current energy crisis in Europe unleashed by the fallout from the Russia-Ukraine conflict. Consumers and governments across Europe continue to struggle with soaring…

Indonesia Raised Benchmark Banking Interest Rate To 4.25 Percent

JAKARTA, Sept 23 (NNN-ANTARA) – Indonesia announced yesterday, to raise its benchmark banking interest rate by 50 bps to 4.25 percent, to suppress inflation, amid the impact of rising fuel prices and uncertainty in global financial markets. The decision was made in a two-day meeting of the Board of Governors…

Brunei, S. Korea To Resume Direct Flights Soon: Envoy

BANDAR SERI BEGAWAN, Sept 23 (NNN-ANN) – South Korea and Brunei will resume direct flights between Bandar Seri Begawan and Incheon soon, said South Korean Ambassador to Brunei, Kim Soung-eun. According to the local daily, Borneo Bulletin yesterday, the ambassador said that, before the pandemic, South Korea ranked fifth, in…

Malaysian ringgit marginally lower vs US dollar at opening

By Anas Abu Hassan KUALA LUMPUR, Sept 23 (NNN-Bernama) — The Malaysian ringgit opened marginally lower against the US dollar on Friday due to the lack of buying momentum as demand for the greenback remained strong on the back of its safe-haven status, a dealer said. At 9 am, the…

S.Korean Currency Tumbled After Fed’s Rate Hike

SEOUL, Sept 23 (NNN-YONHAP) – South Korea’s currency tumbled yesterday, after U.S. Federal Reserve’s rate hike led to a strong U.S. dollar. The won/dollar exchange rate finished at 1,409.7 won per dollar, up 15.5 won from the previous close. It marked the highest close in more than 13 years, since…

Bangladesh’s Forex Reserves Fall To Two-Year Low

DHAKA, Sept 23 (NNN-BSS) – The central bank of Bangladesh, yesterday said, the foreign exchange reserves of Bangladesh fell below 37 billion U.S. dollars – the lowest since Jul, 2020. According to the provisional data from the Bangladesh Bank, the country’s foreign exchange reserves stood at 36.85 billion dollars as…

ADB Approved 100 Million-USD Loan To Improve Health Care In NW Pakistan

ISLAMABAD, Sept 23 (NNN-APP) – The Asian Development Bank (ADB), has approved a 100 million-U.S. dollar results-based loan, to help strengthen the quality of secondary health care in Pakistan’s north-west Khyber Pakhtunkhwa province, the ADB said yesterday. The programme will help improve the delivery of health services at secondary hospitals,…

Philippine Economic Managers Downplay Weak Peso Despite Depreciation

MANILA, Sept 23 (NNN-PNA) – The Philippine currency, peso, continued to slide to record lows to the U.S. dollar, while the government’s economic managers downplayed the continued depreciation, saying, the weak currency is favourable to the country. Abdul Abiad, the Asian Development Bank (ADB), Macroeconomic Research Division director, said that,…

Mideast Countries Set To Suffer More As U.S. Fed Continues To Hike Rates

CAIRO, Sept 23 (NNN-MENA) – As the U.S. Federal Reserve raised its benchmark rates by 0.75 percentage points on Wednesday, the third such rate hike in a row, and the fifth increase in a year, Middle Eastern countries look set to suffer more from their already dramatic depreciation in the…
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