Business

Shades of 1997/98?

The weakening ringgit has caused anxiety. But is the economy in a similar situation to Malaysia’s worst ever crisis 16 years ago?

File photo of construction work in progress for PR1MAAlam Damai, Cheras earlier this year. Tengku Razaleigh Hamzah warns that affordable housing, even with PR1MA, is currently beyond the reach of fresh graduates and the lower middle class.

The squeezed middle

Without integrated policies to help them tackle the rising cost of living, the sandwich class faces a bleak 2015.

At the recent opening of Grand Plaza Hotel in Kensington London are (from left) Mohd Zaid, Malaysian High Commissioner to the United Kingdom and Northern Ireland, Datuk Ahmad Rasidi Haziz, Mohd Isa and directors of Felda, Datuk Noor Ehsanuddin Harun Narrashid and Datuk Dr Omar Salim

Unravelling Felda’s investments

A series of acquisitions by different Felda units has thrust the group into the limelight.

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According to UBS, Bank Negara is likely to cut its overnight policy rate  by 25 basis points in 2015, with lower oil prices cushioning the pressure on inflation.

Bank Negara likely to cut OPR in 2015, says UBS

KUALA LUMPUR: Bank Negara Malaysia is likely to cut its overnight policy rate (OPR) by 25 basis points in 2015, as the fall in the oil prices would cushion the pressure on inflation, according to UBS.

19 December 2014 | 4:41PM |

Economy

Depleted Indonesian oil field is window into China's corruption crackdown

LIMAU, Indonesia: In a muddy clearing in southern Sumatra, a portable diesel power plant hammers away alongside a wellhead, struggling to extract crude from a depleted reservoir that lies below farmland and rubber plantations. It was much easier to extract cash from a state-owned Chinese oil giant.

19 December 2014 | 8:15AM |

Oil & Gas

World Bank cuts 2015 Malaysia GDP forecast

PUTRAJAYA: The World Bank has cut its 2015 growth forecast for Malaysia’s economy to 4.7% from an earlier estimate of 4.9% on expectations of slower export growth and investments in the oil and gas industry as well as moderate private consumption next year.

18 December 2014 | 12:00AM |

Business

Ahmad Maslan: 1MDB should engage more with the public

KUALA LUMPUR: The management of state investment fund 1Malaysia Development Bhd (1MDB) should increase public engagement to be more transparent and avoid any unclear accusations against the company, said Deputy Finance Minister I Datuk Ahmad Maslan.

19 December 2014 | 12:00AM |

Stocks

Chinese shopping 'agents' cash in on Russian currency slide

SHANGHAI: In Blagoveshchensk on Russia's side of the Chinese border, Mou Jiani has turned her home into a warehouse, stocking up on Apple Inc iPhones, handbags and milk powder to sell back home as Chinese shoppers take advantage of the rouble's slide.

19 December 2014 | 7:06AM |

Banking

Berjaya Toto cautiously optimistic about sales

KUALA LUMPUR: Berjaya Sports Toto Bhd (BToto), which saw its net profit jump 20.6% to RM99.6mil in the second quarter ended Oct 31, is cautiously optimistic that it will perform satisfactorily for the remaining quarters of the current financial year ending April 30, 2015.

19 December 2014 | 12:00AM |

Stocks

Malaysian palm oil ends higher with monsoon in focus

KUALA LUMPUR: Malaysian palm oil futures ended higher on Friday on concerns over monsoon rains hurting output and as crude prices ticked up, but the recovery was not enough to keep palm from its biggest weekly fall in three.

20 December 2014 | 7:02AM |

Palm Oil

Southeast Asian stocks: Most end stronger

JAKARTA: Most Southeast Asian stock markets rose on Friday as the U.S. Federal Reserve's pledge to be "patient" about hiking interest rates continued to boost sentiment.

20 December 2014 | 6:52AM |

Stocks

Oil, stocks go their separate ways

NEW YORK: Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down.

20 December 2014 | 6:48AM |

Oil & Gas

A challenging time, but not a crisis

THERE has been mayhem in the Malaysian stock market. The FTSE Bursa Malaysia KL Composite Index (FBM KLCI) is down 8% to 1,716 points on a year-to-date (YTD) basis, making it one of the worst performers in the Asia-Pacific region.

20 December 2014 | 12:00AM |

Market

According to UBS, Bank Negara is likely to cut its overnight policy rate  by 25 basis points in 2015, with lower oil prices cushioning the pressure on inflation.

Bank Negara likely to cut OPR in 2015, says UBS

KUALA LUMPUR: Bank Negara Malaysia is likely to cut its overnight policy rate (OPR) by 25 basis points in 2015, as the fall in the oil prices would cushion the pressure on inflation, according to UBS.

19 December 2014 | 4:41PM |

Economy

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