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Fed's Quarles defends removing tough target from stress testing

WASHINGTON: The Federal Reserve is overhauling how it manages bank stress tests – the most difficult regulatory hurdle established after the 2008 financial crisis – and the agency’s supervision chief argues that a key limit on a lender’s leverage shouldn’t be part of the exams.

Asian markets edge up

TOKYO: Asian stocks edged up on Thursday as a steep slide in crude oil prices which had chilled investor sentiment slowed, while the pound and euro were supported after British Prime Minister Theresa May gained cabinet support for a Brexit deal.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 percent. The index had declined 0.4 percent the previous day as plunging oil prices heightened anxiety about the outlook for broad demand and global growth.  Australian stocks rose 0.15 percent while Japan's Nikkei shed 0.5 percent.  All the same, stock market gains in Asia were limited after Wall Street extended their recent decline.

Mahathir: RM30bil is nothing for Petronas

SINGAPORE: Prime Minister Tun Dr Mahathir Mohamad dismissed that Malaysia was more reliant on oil revenue and stated that Petroliam Nasional Bhd (Petronas) could afford to pay a bumper dividend without its operations being affected.

Dr Mahathir: RM30bil is nothing to them (Petronas) ... they used to give the government RM80bil at a time when the oil price was at US120 per barrel. — Bernama

Faster Malaysian growth seen in Q3

PETALING JAYA: Malaysia’s economy is likely to have grown faster in the third quarter of this year amid an increase in private spending during the consumption tax holiday period.

Bank Negara is scheduled to announce the country’s third-quarter 2018 GDP performance tomorrow.

Sarawak plans to build 600 more telecom towers by 2020

KUCHING: Sarawak will build an additional 600 telecommunication towers statewide by 2020 under the state’s digital economy strategy. Chief Minister Datuk Patinggi Abang Johari Tun Openg said the tender for the first 300 towers to local network facility providers closed on Nov 12.

The location of these (new) towers have been chosen based on the critical needs of areas and their ability to act as collector and intermediary to other towers in the rural areas,” Abang Johari said in the state assembly yesterday. (Picture shows Abang Johari (Left) with his PA  Datuk Khir Busrah at the assembly.)

Axiata president reappointed to board of GSMA

PETALING JAYA: Axiata Group Bhd president and group CEO Tan Sri Jamaludin Ibrahim has been appointed again to the board of the GSM Association (GSMA) for a two-year period from January 2019 to December 2020.

Commenting on the appointment, Jamaludin said: “I am most honoured and thankful for this opportunity to serve and contribute on the board of GSMA yet again.”