Private sector DRIVES 4.5pc growth17 February 2017 @ 11:00 AM
KUALA LUMPUR: The economy picked up pace in the final quarter of last year at an annualised 4.5 per cent, bringing last year’s overall growth to 4.2 per cent.
Private sector activities were the main drivers in the period between October and December last year, said Bank Negara Malaysia in a statement yesterday.
Growth was driven by the manufacturing and services sectors, while exports contributed positively as real exports expanded at a faster rate than real imports.
TPP breakdown a 'missed opportunity' for Malaysia, says Mustapa24 January 2017 @ 1:38 PM
KUALA LUMPUR: Should the Trans Pacific Partnership (TPP) fail to take place, it will signal a missed opportunity for Malaysia, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
Malaysia, he said, was one of clear winners earmarked in the TPP.
“Our negotiating team had managed to secure a number of valuable concessions while at the same time protect our national interest including the Bumiputera policies.”
M'sia's Nov exports surge by surprising 7.8 per cent6 January 2017 @ 1:54 PM
KUALA LUMPUR: Exports in Malaysia jumped by an annualized 7.8 per cent in Nov, the highest monthly exports growth recorded in 2016.
The International Trade and Industry Ministry (MITI) said the RM72.83 billion in receipts was supported by robust demand from major markets, mainly from Asean, China, the European Union (EU), the United States, Hong Kong and India.
Imports expanded by 11.2 per cent.
Total trade rose 9.3 per cent to RM136.63 billion, while the trade surplus stood at RM9.03 billion.
Ringgit higher against greenback in early trade4 January 2017 @ 11:00 AM
KUALA LUMPUR: The ringgit edged upwards versus the US dollar in early trade yesterday, starting the year on a firmer footing against the broad greenback strength.
Oil gains might provide some buffer against the ringgit weakness, said Maybank FX Research, but it cautioned that the ringgit remained sensitive to United States Treasury yield movements.
Higher US Treasury yields will see higher US dollar/ringgit pairing, especially with higher US borrowing costs on the horizon this year and policies to be announced by US president-elect Donald Trump.
Stronger ringgit seen next year9 December 2016 @ 11:07 AM
KUALA LUMPUR: The ringgit, which the market considers as fundamentally undervalued, will likely gain strength to around RM4.25 against the US dollar next year on the back of improving commodity prices.
However, research houses also see the US dollar continuing its rally in the first half of next year as they look expectantly to United States president-elect Donald Trump taking charge of the world’s largest economy on January 20 and the rollout of policy boosters.
IMF sees 4.6pc growth next year7 December 2016 @ 11:01 AM
KUALA LUMPUR: The International Monetary Fund (IMF) in its October World Economic Outlook, has projected Malaysia to grow 4.3 per cent this year and 4.6 per cent next year.
The growth prospects for Malaysia as an upper middle-income economy remained bright, IMF added.
“Even within the cohort of upper middle-income countries, the growth performance has been higher,” said Chikahisa Sumi, director of the IMF regional office for Asia and Pacific.
BNM new measures set to boost ringgit: Analysts6 December 2016 @ 11:01 AM
KUALA LUMPUR: Bank Negara Malaysia’s slew of measures to boost the onshore foreign exchange market liquidity will increase its foreign exchange reserves level, check the slide of the ringgit and improve demand for the local currency.
Market analysts have estimated that with an annual trade surplus of RM80 billion, this could mean RM60 billion could be converted into the ringgit. According to Bank Negara, the latest figure stands at RM90 billion.
'E-commerce growth target achievable'29 November 2016 @ 11:00 AM
KUALA LUMPUR: Malaysia, all set to ride the digital economy wave, can expect to see the contribution of e-commerce to the economy increase within three years, grossing RM211 billion.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the annual growth rate target of 10.8 per cent this year, which was expected to double to 20.8 per cent in 2020, was achievable as there were more than 40 initiatives to spur growth.
“Additional government interventions will drive higher contributions,” he told a media briefing, here, yesterday.
3pc key interest rate stays24 November 2016 @ 11:01 AM
KUALA LUMPUR: Borrowing costs will remain unchanged for the rest of the year with Bank Negara Malaysia’s latest policy decision to stand pat.
As widely anticipated by the market, the Overnight Policy Rate (OPR) was left unchanged at 3.00 per cent yesterday by the Monetary Policy Committee in its last meeting of the year.
But economists, noting the cautious note, expect the central bank to hike the key interest rate in the first quarter of next year.
Bank Negara Malaysia maintains OPR at 3pct at last meeting of the year23 November 2016 @ 3:34 PM
KUALA LUMPUR: Bank Negara Malaysia stood pat with the Overnight Policy Rate at 3.00 per cent, saying the level will ensure the economy continues on a steady growth path.
Inflation will also remain at stable levels next year given the low global energy and commodity prices.
Headline inflation in 2016 is expected to be at the lower end of 2-2.5 per cent this year.
"The risk of destabilising financial imbalances has been contained," it said, in its last monetary policy statement of the year.