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Business 29 Apr 2004 | 12:00 AM

Asia’s huge reserves pose risk to growth, says ADB

Fixed exchange rates for the yuan and other Asian currencies and soaring foreign reserves in the region may spark a financial crisis such as the one in 1997-98 that brought recessions to six of the top 10 Asian economies, the Asian Development Bank said.

Business 27 Apr 2004 | 12:00 AM

Slowdown in China may impact Asia

MALAYSIA'S economy, forecast by the government to expand by between 6% and 6.5% this year, will grow a shade slower if China's overheating economy gets a much hoped-for respite, said Morgan Stanley managing director and chief economist Stephen Roach.

Business 20 Apr 2004 | 12:00 AM

IMF warns US to gird world for higher rates

The International Monetary Fund will warn the US Federal Reserve this week that it needs to prepare the world economy for higher interest rates, the I>Financial Times/Ireported yesterday, after obtaining a draft chapter of a key IMF report.

Business 16 Apr 2004 | 12:00 AM

Asian central banks map out new bond fund

Asian central banks announced yesterday a framework for a new fund to invest in local currency bonds with a view to enhancing the bond markets in the region.

Business 16 Apr 2004 | 12:00 AM

Bank Negara to adopt 2-phase approach to Basel II: Zeti

MALAYSIA will adopt a 2-phase approach towards the Basel II banking accord, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said

Business 09 Apr 2004 | 12:00 AM

Asian reserves top US$2 trillion

Asian foreign exchange reserves rose more than US$220bil in the first quarter 2004, according to central bank figures, and the rise could have been larger since China has not updated its figures.

Business 05 Apr 2004 | 12:00 AM

Danaharta one of East Asia’s most successful asset managers, says BIS

NATIONAL asset management company (AMC), Pengurusan Danaharta Nasional Bhd, has been hailed as one of the more successful AMCs in East Asia in a study by Bank for International Settlements (BIS).

Business 03 Apr 2004 | 12:00 AM

IFSB admits 3 new observer members

THE Islamic Financial Services Board (IFSB), at a meeting in Bali, Indonesia, has admitted 3 new observer members, namely Bank Islam Malaysia Bhd, CIMB Bhd and the Saudi British Bank.

Business 27 Mar 2004 | 12:00 AM

More time for banks to comply with Basel II accord

LOCAL banks will be given more time to comply with the requirements of the Basel II banking accord, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said yesterday.

Business 27 Mar 2004 | 12:00 AM

Major economies maintain accommodative monetary policies

IN 2003, the major industrial countries continued to maintain accommodative monetary policies.