A crisis, any crisis, is part of a journey, whether for an individual or a nation. The key response to the 2008 crisis was the loosening of monetary policy in the US and most of the developed economies, as liquidity was pumped into the system. The ringgit has been instead influenced by the monetary policy tightening that is still ongoing. The pent-up demand came online while supply constraints were not yet normalised, which, together with the loose monetary policy throughout the pandemic and even much earlier, created inflationary pressures all over. The Fed, which many opined delayed taking action for too long, started to tighten monetary policy unilaterally and aggressively at the start of the year.
“PDRM and other agencies under the Home Ministry (KDN) like Rela, APM and MAF are ready (to be mobilised) for floods,” he said. He said the number of personnel would be increased according to the situation if floods strike on an unusually massive scale throughout the country. Meanwhile, on preparations to set up evacuation centres (PPS), Ismail Sabri said the government had identified 2,010 of the 6,010 PPS throughout the country, which could also be used as voting centres. He said these PPS would be segregated into evacuation and voting centres if flooding occurs on GE15 polling day on Nov 19. Ismail Sabri said district officers have been empowered to identify places to be used as flood relief centres, and alternative plans could be implemented if necessary.1 month ago The Edge Markets
Recently, the signing ceremony of the strategic cooperation agreement between PMI Malaysia and ZTE Corporation was held in Kuala Lumpur. The PMP certification launched by the PMI has become an authoritative project management qualification certification, reflecting the professional level of the project management field in the world. Director of Treasury of PMI Malaysia Dr. Joshua Netto said:"ZTE has always been a strategic partner of PMI Malaysia. The Director of Public Relation at PMI Malaysia, Mr. Nehru Nagappan, added that the signing of this strategic agreement opens a new chapter for the in-depth cooperation between ZTE and PMI Malaysia in the project management field. The share of 5G wireless, 5G core network and 5G bearer products in the domestic operator market is over 30%.1 month ago The Edge Markets
(Dec 3): Microsoft Corp is ready to fight for its US$69 billion acquisition of gaming company Activision Blizzard Inc if the US Federal Trade Commission files a lawsuit seeking to block the deal, according to a person familiar with the matter. FTC staff is wrapping up its investigation and is expected to make a recommendation soon, the person added. Microsoft’s other option would be to abandon the deal in the face of an FTC challenge. In fact, the acquisition wouldn’t be financially viable for Microsoft if it cut off Call of Duty on PlayStation, the person said. Scrutiny of big tech companies’ dominance has been ramped up by the UK agency since it gained new powers post-Brexit.1 day ago The Edge Markets
It’s not just in the UK that property markets are flashing signals of downturns from 30 years ago. That means interest rates are rising rapidly, bringing to a close the era of easy money that’s defined the years since the 2008 global financial crisis. Then, as now, inflation was on the march, and interest rates had to move sharply higher to combat it. In 1990, mortgage rates topped 13% and the Toronto housing market tumbled into a deep freeze for years. “In 1994, we had the most rapid increase in interest rates,” said Paul Cameron, senior economist at real estate firm PropTrack.1 month ago The Edge Markets
KUALA LUMPUR (Oct 20): Here is a brief recap of some corporate announcements that made news on Thursday (Oct 20), involving Tenaga Nasional Bhd (TNB), Digi.Com Bhd (Digi), Hextar Industries Bhd, Caely Holdings Bhd, GIIB Holdings Bhd, Yinson Holdings Bhd, Dayang Enterprise Holdings Bhd, T7 Global Bhd, Keck Seng (Malaysia) Bhd, Pestech International Bhd, K-One Technology Bhd and ILB Group Bhd. Independent investigative accountant Ferrier Hodgson MH Sdn Bhd (FHMH) has found that there were no fraudulent transactions or misconduct by GIIB Holdings Bhd as alleged by former executive director Wong Weng Yew. The two-year work order was awarded to Tanjung Offshore Services Sdn Bhd under the Pan Malaysia Umbrella Contract, on a call-out basis. Its wholly-owned unit G-AsiaPacific Sdn Bhd inked an agreement with Vietnet Distribution Joint Stock Company on Thursday. The logistics services company and Impian Nuri Sdn Bhd have mutually agreed to terminate the deal, after a condition precedent could not be fulfilled by the Oct 31 deadline.1 month ago The Edge Markets
The race is already underway to succeed Truss, who exits Downing Street after her bid to deliver “growth, growth, growth” via unfunded tax cuts for the wealthy spectacularly backfired. “In terms of tax and spending, all they can try and do is avoid exploding government credibility again. The ensuing market panic forced her to U-Turn with the tax burden now back to the highest since World War II. A sliver of hope for Truss’s successor is that early austerity will give room for pre-vote tax cuts. Low productivity and a deficit of workers make it difficult for the economy to regain altitude after any setback.1 month ago The Edge Markets
MILAN (Oct 26): UniCredit SpA has raised full-year revenue and profit targets for a second straight quarter, joining European peers in posting better-than-expected results on rising interest rates. Key performance metrics for the three months through September — including net income and revenue — were all better than expected. Third-quarter net income at UniCredit was €1.71 billion, compared with the €1.08 billion estimated by analysts. Higher revenue, lower loan-loss provisions, and the Russia subsidiary boosted results. "We see upside to net interest income and believe UniCredit can deliver about €14.5b out of the planned capital return."1 month ago The Edge Markets