[ PETALING JAYA: Malaysia has potential to improve its current account balance by enhancing the services component of the account, particularly in the travel subcategory, says Malaysian Rating Corp Bhd (MARC). In a statement, the rating agency pointed out that after three years of deficit, Malaysia registered a surplus in the travel subcategory in 2023, … Read more
[ CHINA will step up its efforts to align with high-standard international economic and trade rules, continue to expand market access, and implement measures to ensure national treatment for foreign-funded enterprises, Premier Li Qiang said on Wednesday in Guangzhou, Guangdong province. Li made the pledge when addressing a symposium attended by representatives of overseas buyers … Read more
[ Mortgage holders hoping for lower payments this summer have been dealt a blow, as the chance of an interest rate cut in June looks “slimmer” due to high levels of services inflation. Inflation fell by slightly less than expected in official figures released on Wednesday – from 3.4 to 3.2 per cent – but … Read more
[ Wages have increased to their highest level in almost two-and-a-half years, according to official figures, raising questions about whether the Bank of England will press ahead with an expected cut to interest rates this summer. The latest numbers from the Office for National Statistics (ONS) show average regular pay, excluding bonuses, stood at 6 … Read more
[ KUALA LUMPUR: The ripple effects of higher oil prices on Asia Pacific (APAC) economies and globally are expected to be felt if the current development of Middle East tension is not defused soon, said a research house. Moody’s Analytics, in its commentary note, said that the escalation of tensions in the Middle East over … Read more
[ PERAK stands on the brink of a transformative leap with the Lumut Maritime Industrial City (LuMIC) project set to redefine the region’s identity from a quiet state on the west coast to a bustling hub of maritime and industrial activity. This ambitious initiative is set to catalyse not only economic growth but also foster … Read more
[ SINGAPORE: Singapore’s central bank has kept unchanged its monetary policy stance aimed at strengthening the trade-weighted Singapore dollar to fight still-elevated inflation. The Monetary Authority of Singapore (MAS) said yesterday that it would maintain the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate policy band, with no change to the … Read more
[ SINGAPORE: Singapore’s economy, in the first three months of 2024, grew at its weakest quarter-on-quarter (q-o-q) pace in a year as manufacturing slowed, but economists see growth strengthening ahead. On a q-o-q seasonally adjusted basis, the economy expanded by 0.1% in the first quarter, down from the 1.2% growth in the fourth quarter of … Read more
[ TRADERS’ bets on multiple European Central Bank (ECB) interest rate cuts this year have barely been shaken by hot US inflation that slashed Federal Reserve (Fed) easing expectations this week, highlighting a growing investor focus on the divergence between the two regions. The ECB cemented that conviction on Thursday, signalling that it may soon … Read more
[ Forget artificial intelligence breaking free of human control and taking over the world. A far more pressing concern is how today’s generative AI tools will transform the labor market. Some experts envisage a world of increased productivity and job satisfaction; others, a landscape of mass unemployment and social upheaval. Someone with a bird’s-eye view … Read more
