Ringgit open higher against US dollar
KUALA LUMPUR: The ringgit appreciated against the US dollar at the opening today, supported by rising oil prices and strong demand from China for Malaysia’s main commodities, particularly oil, said an analyst. At 9 am, the local note firmed at 4.6485/6535 against the greenback compared with 4.6570/6610 at Tuesday’s close. SPI Asset Management managing director […]
Rise in oil prices, materials pose challenges for QC
KUCHING: Quality Concrete Holdings Bhd sees the sharp rise in oil prices and material cost due to the sudden eruption of geopolitical war between Russia and Ukraine as posing a new set of challenges to the group’s operations. Brent crude oil has surged to US$115 per barrel from low of below US$30 per barrel in […]
Sarawak expects more revenue from SST
SEMATAN: Sarawak expects larger revenue from the State Sales Tax (SST) following the hike in oil prices. Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg noted that world oil prices had risen to USD122 per barrel. “The world oil price is currently at about USD122 per barrel, previously I estimated that it would go […]
Economist confident Sarawak will recover
KUCHING: The recovery in oil prices will provide Sarawak with financial resources for economic recovery in the coming years, said economist Datuk Dr Madeline Berma. “The oil price recovery after the massive fall in 2020 will have a positive and long-term impact on Sarawak’s economy. “In addition, with the Moody’s Investors Service changing its outlook […]
Oil price recovery will strengthen Sarawak’s position
KUCHING: The recovery of oil price is expected to further strengthen Sarawak’s financial position, opines Associated Chinese Chambers of Commerce and Industry of Sarawak (ACCCIS) secretary-general Jonathan Chai Voon Tok. He pointed out that oil prices rose for a third week to a near three-year high last Friday (Sept 24) as global output disruptions forced […]
Oil prices slump on renewed lockdowns
LONDON: Oil prices slumped Tuesday on lower demand prospects as Europe’s biggest economy Germany said it would reimpose strict coronavirus containment measures and struggles along with other EU nations to roll out vaccines. European stock markets were mixed and US stock indices drifted lower after sharp losses in Asia. On currency markets, the Turkish lira […]
As oil prices rally, old Opec tensions set to rise
LONDON: As members of the oil cartel Opec and its allies meet this week to discuss adjusting output, analysts expect old tensions between oil producer giants to flare up again. Russia and Saudi Arabia, respectively the world’s second and third largest producers of oil after the United States, had often been at loggerheads in the […]
Oil prices fall amid reported end to Norway strike
NEW YORK: Oil prices retreated on Friday after oil workers in Norway called off a strike that had threatened energy production in the country, China’s Xinhua news agency reported. The West Texas Intermediate (WTI) for November delivery lost 59 cents to settle at $40.60 dollars a barrel on the New York Mercantile Exchange, while Brent […]
Govt to ensure Petronas return to profitability
KUALA TERENGGANU: The government is committed to ensuring that Petroliam Nasional Bhd (Petronas) is able to return to profitability, but it depends on world oil prices. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the loss announced by Petronas two days ago were due to the fall in oil prices but for now […]
RON97 and RON95 up 10 sen, diesel up 9 sen per litre
KUALA LUMPUR: RON97 and RON95 will go up by 10 sen while diesel will increase by nine sen per litre for the period of June 27 to July 3. According to a statement from the Ministry of Finance today, based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula, […]
