Business

Ringgit risk reverses, volatility reduced

KUALA LUMPUR: The difference in the trade between the offshore and onshore ringgit market narrowed yesterday, indicating that the volatility in the domestic currency has reduced for now.

The speakers: (from left) Wong, Goh, Foo and Koong at the forum.
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China is the way to go, market offers tremendous opportunities

KUALA LUMPUR: By virtue of its size, China is a market that small and medium enterprises (SMEs) must strive to tap into in order to achieve greater growth for their businesses, said Malaysian billionaire Goh Peng Ooi.

Malaysia’s June exports defy forecasts, expanding at 5%

KUALA LUMPUR: Malaysia’s exports in June 2015 grew 5% on-year to RM64.3bil, exceeding economists’ expectations of a 2.2% decline, boosted by higher exports to China, Taiwan and the US.

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Pressure on ringgit remains unabated

PETALING JAYA: At RM3.85 to the US dollar, the selling pressure on the ringgit remains unabated on the back of two probable developments – first, the widely speculated put option that traders had gone into a few months ago offering RM4 for every US dollar.

4 August 2015 | 12:00AM |

Economy

Crude oil price in danger of another breakdown

KUALA LUMPUR: West Texas Intermediate traded on the New York Mercantile Exchange, also known as light sweet crude had a nice rebound recently, up from a six-year low of US$42.03 on March 18 to a high of US$62.58 on May 6 in the wake of renewed buying interest.

4 August 2015 | 12:08PM |

Oil & Gas

Hartalega Holdings Bhds factory in Batang Berjuntai.

Hartalega profit up 10%

PETALING JAYA: Hartalega Holdings Bhd, the country’s biggest glove-maker in terms of market value, said first-quarter ended June 30 net profit has climbed 9.8% to RM62.7mil, as it benefited from a weaker ringgit and cheaper raw material prices.

5 August 2015 | 12:00AM |

Stocks

Eurozone's July business growth exceeds expectations

LONDON: Eurozone business growth accelerated at the end of last month as companies largely put the Greek debt crisis behind them, suggesting the bloc's economic recovery is on track, a survey showed on Wednesday.

5 August 2015 | 4:08PM |

Business

Indonesian banks boost bad loan provisions

JAKARTA: Several Indonesian big banks have sharply hiked bad loan provisions, helping push combined first-half profits to their first decline in almost a decade, as they fret about the impact of a troubled mining sector and weaker commodity prices on the economy.

5 August 2015 | 4:01PM |

Business

EU's Juncker expects Greek debt accord by Aug 20

BRUSSELS: European Commission head Jean-Claude Juncker believes that an agreement on a third bailout for Greece in return for more tough reforms is likely this month, hopefully by Aug 20 when Athens must make a key debt repayment.

5 August 2015 | 3:49PM |

Business

Oil bulls' hope for quick price dip dimmed

HOUSTON: As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year - a speculative slide below US$50 a barrel followed by a quick recovery.

5 August 2015 | 1:57PM |

Business

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