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Cryptocurrencies not substitute for gold

KUALA LUMPUR: Bitcoin and cryptocurrencies more generally are not a substitute for gold which is a tried and tested effective investment tool in portfolios, says the London-based World Gold Council. In its recent repo...

Maybank to raise lending rates by 25bps on Monday

KUALA LUMPUR: Malayan Banking Bhd  will raise its base rate (BR) and base lending rate (BLR) with effect from Monday, in line with Bank Negara Malaysia’s decision to the increase in the Overnight Policy Rate (OPR). May...

Interest rate seen rising 25bps

PETALING JAYA: A 25 basis-point hike in the overnight policy rate (OPR) could be announced by Bank Negara’s monetary policy committee (MPC) today, say analysts from two research firms. Chief economist at AmBank Group An...

SEC investigating GE charge; company posts US$10bil loss

NEW YORK: U.S. securities regulators are probing a massive insurance charge recently announced by General Electric Co <GE.N>, the latest blow to the nation's largest industrial conglomerate as it struggles to rever...

Oil price rise likely to run out of steam

OPTIMISM is riding high for Brent crude to comfortably surpass the US$70-per-barrel mark. However, recent numbers from the United States indicate that the shale oil and gas (O&G) producers are back in overdrive and ...

A weak dollar ‘good’ for the US?

NEW YORK: A dollar rout intensified on Wednesday after U.S. Treasury Secretary Steven Mnuchin said a lower greenback was "good for us" - though a weaker U.S. currency may not prove a long-term economic boost. It was a h...

Ringgit in good favour ahead of MPC meeting

KUALA LUMPUR: The ringgit further strengthened to open higher against the US dollar on Wednesday and on the back of a continued weakness in the greenback, said a dealer. At 9.00 am, the ringgit stood at 3.9180/9210 agai...

KLCI wobbles early Wednesday as PetGas falls, ringgit up

KUALA LUMPUR: Blue chips got off to a cautious start on Wednesday with profit taking seen in Petronas Gas and Genitng Bhd while DrB-Hicom  gave up part of its previous day’s gains when it streaked to a 20-year high. ...

Interest rate seen rising 25bps

PETALING JAYA: A 25 basis-point hike in the overnight policy rate (OPR) could be announced by Bank Negara’s monetary policy committee (MPC) today, say analysts from two research firms. Chief economist at AmBank Group An...

EPF to invest more in US

KUALA LUMPUR: The Employees Provident Fund (EPF) has applied for sovereign status in the United States to gain easier access to investment opportunities in the world’s largest economy. According to EPF chief executive o...

Three former staffers of audit watchdog charged with criminal and civil offences

WASHINGTON: The U.S. government on Monday announced criminal and civil charges against three former staffers of an audit watchdog, accusing them of providing confidential information to help accounting firm KPMG pass reg...

Ringgit rises on increased global risk sentiment, higher oil prices

KUALA LUMPUR: The ringgit continued its upward momentum to open higher against the US dollar today, on positive sentiment supporting the market, said a dealer.  At 9.00 am, the ringgit stood at 3.9270/9300 against the gr...

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