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LONDON: The dollar dropped on Tuesday as investors prepared for U.S. Treasury Secretary nominee Janet Yellen to talk up the need for major fiscal stimulus and commit to a market-determined exchange rate when she testifies later in the day.
KUALA LUMPUR: RHB Banking Group has revised its forecast for Malaysia’s Gross Domestic Product (GDP) this year to 5.4 per cent from 6.3 per cent, reflecting a more conservative growth outlook amid the re-imposition of the Movement Control Order (MCO 2.0).
KUALA LUMPUR: Fraser & Neave Holdings Bhd is planning for halal food to be a new pillar of growth following its acquisition of the producers of the Nona and Lee Shun Hing brands.
BEIJING: China’s economy grew by 2.3% in 2020, with major economic targets achieving better-than-expected results, the National Bureau of Statistics (NBS) said yesterday.
KUALA LUMPUR: Bursa Malaysia opened the week lower, led by a fall in bank stocks as speculation over a further interest rate cut by Bank Negara weighed on sentiment in the sector.
PETALING JAYA: The ringgit may test the psychological level of 4.00 against the US dollar next week amid anticipation that Bank Negara would maintain the overnight policy rate at 1.75% at its meeting on Wednesday.
MILAN: Fiat Chrysler Automobiles N V (FCA) and Peugeot S A (PSA)sealed their long-awaited merger on Saturday to create Stellantis, the world’s fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen.
PRODUCTION bottlenecks as in shortage of containers and labour as well as restriction of movement in the current fight against Covid-19, can affect economic recovery.