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Business 26 Mar 2005 | 12:00 AM

China central banker to be named forex chief

Central banker Hu Xiaolian will be named China's top foreign exchange regulator, taking over the running of the country's massive currency reserves and steering planned forex reforms, a government source said.

Business 25 Feb 2005 | 12:00 AM

US$71bil foreign reserves well diversified

MALAYSIA'S US$71bil of foreign reserves are diversified in various currencies and are at a 'comfortable' position, Bank Negara said yesterday.

Business 25 Jan 2005 | 12:00 AM

Central banks raise euro exposure at dollar's expense

Nearly 40 central banks have increased their exposure to the euro in the past two years, mainly at the expense of the US dollar, according to a survey of 65 central banks released yesterday.

Business 17 Nov 2004 | 12:00 AM

Ringgit depreciates sharply against three currencies

THE local currency, which is pegged to the US dollar, has lately depreciated sharply against other currencies #8211; such as the Aussie, the Singapore dollar and the euro #8211; in tandem with the softening greenback.

Business 31 Mar 2004 | 12:00 AM

US$30 oil props up Opec nations as reforms stagnate

Five years into an oil price boom, social tensions and growing populations mean Organisation of Petroleum Exporting Countries (Opec) states need to invest more heavily, but public sector spending is eroding the windfall and storing problems for the future.

Business 06 Nov 2003 | 12:00 AM

China foreign currency reserves hit US$400bil

B>HONG KONG:/BChina's Vice-Premier Zeng Peiyan said Wednesday the country's foreign currency reserves, the world's second largest after Japan, rose to US$401bil by the end of October.

Nation 29 Sep 2003 | 12:00 AM

Mahathir to lead delegation to Asean summit in Bali

Prime Minister Datuk Seri Dr Mahathir Mohamad will lead the Malaysian delegation to the 9th Asean Summit in Bali to be attended by Asean leaders and the heads of government of China, India, Japan and Korea.

Business 11 Jun 2003 | 12:00 AM

Dr M urges prudence in project approvals

Datuk Seri Dr Mahathir Mohamad said yesterday that state governments and local authorities should exercise prudence in approving new property development projects to curb the current property overhang.

Business 08 Mar 2003 | 12:00 AM

Japan reserves set new record

Japan#8217;s external reserves, already the world#8217;s largest, set a fresh record high in February after its intervention in the foreign exchange market to stem the yen#8217;s rise, data showed yesterday.

Business 17 Jan 2003 | 12:00 AM

Brunei unveils US$4.5b projects to boost economy

Brunei announced plans yesterday for multi-billion-dollar projects to lift an economy still hung over from the failed business of the sultan's brother.