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Asia markets track Wall St record after Powell's soothing words
HONG KONG (AFP): Another Federal Reserve reassurance it would not hike interest rates until absolutely necessary buoyed Asian markets Thursday (Feb 25), while traders were also taking heart from more positive developments on the vaccine front.
Data-focused Powell paves way for era of extended loose Fed policy
WASHINGTON: Between deep wounds to the labor market and weak inflation, Federal Reserve Chair Jerome Powell delivered a simple message to investors fixated on rising U.S. bond yields and price risks: watch the data, and don't expect any changes in monetary policy until the economy is clearly improving.
Weaker Aussie dollar will keep exports competitive
SYDNEY: The Reserve Bank of Australia (RBA) would really prefer if its currency didn’t trade above 80 US cents, eroding the competitiveness of its exports sector just as the economy is trying to recover from the pandemic.
Powell signals Fed to keep buying bonds
FEDERAL Reserve chairman Jerome Powell (pic) signalled that the central bank was nowhere close to pulling back on its support for the pandemic-damaged US economy even as he voiced expectations for a return to more normal, improved activity later this year.
RBNZ keeps rates unchanged
WELLINGTON: New Zealand’s central bank held its official cash rate at a record low of 0.25% yesterday, as expected, saying the current levels of monetary stimulus were needed to meet its consumer price inflation and employment remit.
Ringgit rebounds on firmer oil prices
KUALA LUMPUR: The ringgit rebounded in early trade on Wednesday as risk appetite for the local currency improved, thanks to the firmer oil prices.
Checks show no significant funds from Myanmar firms, individuals in Singapore banks: MAS
SINGAPORE (The Straits Times/ANN): The Monetary Authority of Singapore (MAS) said on Tuesday (Feb 23) that its regular surveillance of the banking system has not found significant funds from Myanmar companies and individuals in banks in Singapore.
Healthcare bore brunt of cyberattacks in 2020, study says
The global health care and pharmaceutical industries bore the brunt of cyberattacks in 2020 as nation-state hackers and criminals targeted companies looking for information on Covid-19 as well as vaccine development, cybersecurity research firm CrowdStrike said in a report made public Monday.
Petronas Chemicals leads KLCI’s rebound
KUALA LUMPUR: Petronas Chemicals underpinned the FBM KLCI’s rebound early Wednesday after its strong fourth quarter earnings and also firm crude oil prices.
