Friday, April 16, 2021

Bank Negara Malaysia

Analysts mixed on further OPR reduction

KUALA LUMPUR: Analysts are mixed in their views on Bank Negara Malaysia's (BNM) stance on the overnight policy rate (OPR) in the upcoming Monetary Policy Meeting on Wednesday. Bank Islam Malaysia Bhd chief economist Dr Afzanizam Mohd Rashid said the...

Sarawak applies licence for digital banking

The Gabungan Parti Sarawak (GPS) state government is in the midst of applying for a digital banking licence from Bank Negara Malaysia (BNM) as part of setting up a digital banking infrastructure for Sarawakians. Chief Minister Datuk Patinggi Abang Johari...

Banks to reduce base rate by 0.5%

KUCHING: Public Bank will reduce its base rate and base lending rate/base financing rate by 0.5 percent effective May 12. This is in line with Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) being cut by 50 basis points (bps)...

‘Let BSN banks open till 6pm’

MIRI: The federal government should allow Bank Simpanan Nasional (BSN) branches throughout the state and the country to extend their operational hours from 10am to 6pm instead of from 10am to 3pm. In stating this, Tourism, Arts and Culture Assistant...

BNM’s international reserves at $ 101.7bln

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) international reserves amounted to $101.7 billion ($1 = RM4.34) as at March 31, 2020. “The reserves position is sufficient to finance 7.7 months of retained imports and is 1.1 times total short-term external debt,”...

RM3.3 bln fund, banks’ preparedness will help alleviate SMEs’ financial burden

KUALA LUMPUR: As the Covid-19 outbreak widens with Malaysia entering the second wave of spread, the banks’ preparedness along with measures undertaken by Bank Negara Malaysia (BNM) are a shot in the arm for the Small and Medium Enterprises (SMEs) during this difficult time. “As the backbone of the...

Persistent economic headwinds major concerns in 1H2020

KUALA LUMPUR: Persistent economic headwinds, internal and external, will likely continue to be major concerns for Malaysia in the first half of this year, affecting consumer sentiment and business confidence. In a note, AllianceDBS Research said these economic headwinds include the Covid-19 outbreak and the recent political turmoil in the country. “Given...

RM20 billion economic stimulus package

PUTRAJAYA: Interim Prime Minister Tun Dr Mahathir Mohamad today announced RM20 billion Economic Stimulus Package to ensure risks to the economy due to Covid-19 can be addressed effectively. He said three strategies were outlined under the package, namely addressing the impact of the disease, catalysing people-based growth,...

Ringgit versus US$ at 4.04 by end-2020

KUALA LUMPUR: OCBC Bank expects Malaysia’s gross domestic product (GDP) to grow between 4.2 percent and 4.4 percent this year, and the ringgit to improve to RM4.04 against the US dollar by end-2020. Chief economist Selena Ling said the...
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An unforgettable jungle jaunt

And into the forest I go, to lose my mind and find my soul.— John Muir, mountaineer In 1993, I travelled...
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