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KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 21.
KUALA LUMPUR: Malaysian palm futures slipped to a two-week low on Tuesday as lacklustre demand and a grim outlook on global commodity markets piled pressure, but prices pulled up in late trade as they clung onto support from the ringgit that slumped to near 6-year lows.
NEW YORK: Equities rose worldwide on Tuesday, with Wall Street reversing early losses and the dollar rising 1 percent against the Japanese yen, as diminishing global growth prospects bolstered hopes for central bank stimulus.
PUTRAJAYA: In a surprise turn of events, the Government has disclosed that Malaysia is a beneficiary of declining crude oil prices because the country is a net importer, and not exporter, of the commodity and petroleum products, if liquefied natural gas (LNG) was not in the equation.
KUALA LUMPUR: In a rare co-ordinated approach, the Government has come out strongly to dispel the notion that the country’s economic position is in crisis mode due to the steep fall in global crude oil prices. It has also expressed confidence that the depreciating ringgit will adjust over time to reflect the nation’s economic fundamentals.
PUTRAJAYA: The Government expects financial analysts and international rating agencies to understand and view favourably Malaysia’s decision to revise higher its fiscal deficit target for 2015, given the prevailing global economic uncertainties, especially with regards to crude oil prices, says Minister in the Prime Minister’s Department, Datuk Seri Abdul Wahid Omar.
PUTRAJAYA: Petronas' dividend contribution to the government this year will be slightly lower than the previous contribution as the amount would be calculated based on last year's crude oil price.