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World

Merkel 'in good health' and ready to serve full term - chief of staff

BERLIN (Reuters) - Chancellor Angela Merkel is in good health and on track to serve her full term in office through to 2021 in coalition with her Social Democrat (SPD) governing allies, her chief of staff told Reuters on Wednesday.

Business

Global forex market

The dollar erased its weekly gains, closing marginally lower by 0.02% to 96.8 after the US Federal Reserve’s Williams commented on the need for the central bank to “act quickly” as economic growth slows, fuelling market players to add bets on a 50-basis point (bps) cut in July’s FOMC meeting.

World

Ukraine president on course for commanding win in parliamentary election

KIEV (Reuters) - Ukrainian President Volodymyr Zelenskiy's party took a commanding lead in Sunday's snap parliamentary election, consolidating the power of the novice politician whose stunning rise has upended traditional politics in the war-scarred nation.

Business

Draghi prepares his legacy for Lagarde as ECB meets

FRANKFURT: Mario Draghi (pic) is entering the final three months of his European Central Bank presidency with a plan that will see his influence linger well after he’s replaced by Christine Lagarde.

Business

IMF says Pakistan needs to mobilise tax revenue, cut debt

WASHINGTON: Pakistan needs to mobilise domestic tax revenue to ensure funds for social and development programs, while reducing debt, the acting director of the International Monetary Fund said on Sunday after a meeting with Pakistani Prime Minister Imran Khan

Business

Let’s choose the best person to lead the IMF

NOW that Christine Lagarde has announced her resignation as managing director of the International Monetary Fund (IMF), German chancellor Angela Merkel says Europeans “again” have a “claim” to fill what is arguably the world’s most important economic job. Merkel is invoking a decades-old political deal, which gives Europe the IMF leadership in return for allowing Americans to run the World Bank.

Business

Oil price rises near US$64/bbl on second downed Iranian drone

HOUSTON: Oil rose to almost $64 on Tuesday, jumping late in the session after the head of U.S. Central Command said the United States may have taken down a second Iranian drone over the Strait of Hormuz last week.

Business

M’sia needs economic buffer

KUALA LUMPUR: Warning of the possibility of a global economic recession next year, Affin Hwang Capital said Malaysia needs to implement immediate measures to cushion against the impact.

Business

Asia stocks cautious on trade talks

SYDNEY: Asian shares nudged higher on Wednesday amid hints of progress in the Sino-U.S. trade saga, while the dollar hit two-month highs on the euro as investors wagered on a dovish outcome from the European Central Bank's coming policy meeting.

Business

Ringgit slips against US$ as traders await clearer Fed signals

KUALA LUMPUR: The ringgit opened flat today against the US dollar as the greenback continued to gain traction ahead of a widely expected US and European Central Bank (ECB) interest rates cut.