Day: October 11, 2024

Bursa Malaysia ended the week lower, tracking Wall Street’s performance, as higher-than-expected inflation in the United States further diminished hopes for a jumbo US interest rate cut next month. The US consumer price index (CPI) rose at an annual pace of 2.4 per cent in September, slightly higher than economists’ expectations of 2.3 per cent, but lower than 2.5 per cent in August. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 7.39 points, or 0.45 per cent, to 1,633.55 compared to Thursday’s close. The benchmark index, which had opened 5.15 points lower at 1,635.79, moved between 1,631.89

The drainage and irrigation system involving the four regions under the Muda Agricultural Development Authority (MADA) in Kedah needs to be upgraded immediately to prevent floods that could further submerge the padi fields. The Malaysian Padi Farmers Brotherhood Organisation (PeSAWAH) chairman Abdul Rashid Yob said the floods this time around are worse than in 2010, and he does not rule out the possibility that the ‘dilapidated’ irrigation system is the cause of more than 6,000 hectares of padi fields under MADA’s management being submerged and flooded. ‘Kedah’s infrastructure needs to be upgraded… this is already the third wave and there

The Securities Commission Malaysia (SC) has received 3,380 complaints and inquiries on scams and unlicensed activities as of the third quarter of 2024 (3Q 2024), a 28 per cent increase from last year. In a statement today, executive director and general counsel, Yew Yee Tee said cases have become increasingly sophisticated and include the use of deepfake technology and evolving modus operandi. ‘The positive side to this is that we also see greater awareness and scepticism among the public where many of these complainants and enquirers coming forth to the SC have not fallen victim to these scams (as compared

The Kuala Lumpur rubber market finished mixed on Friday amid weaker advice from the regional rubber futures markets and declining benchmark crude oil prices as the ringgit strengthened against the US dollar, a dealer said. She said market sentiment was also dented by concerns over the escalation of the Middle East conflict. ‘Nonetheless, further losses were capped, as sentiment was supported by the optimism for further Chinese stimulus and improved global economic data,’ she told Bernama. She said oil prices declined on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as