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THE once resolute “whatever it takes” message of government support for pandemic-hit economies is fraying at the margins as some recovery from the Covid-19 shock emerges, leaving buoyant markets pondering the prospect of ebbing stimulus
KUALA LUMPUR: Banks in the country are capable of extending the targeted moratorium period from October to December 2020, as they have adequate buffers.
Smallholders, local communities in Sabah urged to form crop protection teams when dealing with elephants
KOTA KINABALU: Plantation smallholders and local communities in Sabah's east coast are urged to form crop protection teams where human-elephant conflict is unavoidable.
KUALA LUMPUR: Moody's Investors Service affirmed the A3 long-term foreign currency deposit and A3 long-term foreign currency senior unsecured debt ratings of Malayan Banking Bhd (Maybank).
PETALING JAYA: The Malaysian economy’s ability to weather the Covid-19 pandemic is intact as the nation’s financial ecosystem remains resilient, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
KYOTO: The coronavirus pandemic is deepening the pain for Japan’s regional lenders, heightening concerns that a potential wave of business closures will test policymakers’ ability to avert a damaging banking sector crisis.
LONDON: HSBC Holdings PLC warned its bad debt charges could blow past a previous estimate to US$13bil this year and said its profits more than halved, as the coronavirus pandemic hammered the bank’s retail and corporate customers worldwide.
LONDON/HONG KONG: HSBC Holdings PLC posted a higher-than-expected 65% tumble in first-half pre-tax profit as the coronavirus pandemic and its impact on businesses forced the Asia-focused bank to boost its loan-loss provisions.
WHEN chairman Jerome Powell (pic) announced after last Wednesday’s Federal Open Market Committee meeting that the Fed is “committed to using its full range of tools to support the US economy in this challenging time”, the market interpreted it as the Fed would do “whatever it takes” to support the United States facing the worst pandemic and economic recession since the 1930s.
ONLY two hours of heavy rain and there are already complaints of flash floods in Miri city centre, its outskirts and the suburban districts.The incidents of flash floods are getting too frequent.