Category: General

The ringgit regained its strength against the US dollar at the opening today after experiencing a technical correction yesterday, said an analyst. At 8.03 am, the local currency traded higher at 4.1235/1320 versus Thursday’s close of 4.1430/1485. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said yesterday’s ringgit correction was due to an overbought position, which led traders to pocket some gains. ‘The general view on interest rate cuts in the United States (US) is still intact for the upcoming Federal Open Market Committee (FOMC) meeting in November and December. ‘Therefore, tonight’s data on personal consumption expenditure

Manila: President Ferdinand R. Marcos Jr. on Friday led the inauguration of the 3.17-kilometer Panguil Bay Bridge Project, the longest sea-crossing bridge in Mindanao which aims to enhance connectivity and drive economic progress in the region. The PHP8.026-billion Panguil Bay Bridge Project of the Department of Public Works and Highways (DPWH) connects Tangub City in Misamis Occidental and Tubod town in Lanao del Norte. Actual work on the design and construction of the two-way, two-lane bridge connecting the Misamis Occidental and Lanao del Norte provinces commenced on Feb. 28, 2020 and was completed this month. Land travel time between Misamis

The Tenaga Nasional Berhad (TNB) cable bridge at the Project 275kV, Bayan Lepas collapsed as the structure was unable to support the weight of the 275kV cables. Penang Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari said the incident occurred at the Cable Bridge number one at the Motorola company area, part of the project heading towards Intel here yesterday. He said TNB has taken immediate action by taking out the cables, reopening the cable installation and adding piling in the centre to strengthen the cable bridge. ‘TNB has informed Intel of the problem. The project will begin at

The Ministry of Rural and Regional Development (KKDW) remains committed to strengthening the High-Level Technical and Vocational Education and Training (Hi-TVET) Programme by introducing various high-impact initiatives, says Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. Ahmad Zahid, who is also the Minister of Rural and Regional Development, said this included selecting Melaka as a Hi-TVET hub at Universiti Teknikal Malaysia Melaka (UTeM) through programmes focused on artificial intelligence (AI), the Internet of Things (IoT), and robotics. ‘This programme has become the main choice for departments and faculties at the institution and is also aligned with four other universities,

Bursa Malaysia saw another pullback at the close on Friday, largely due to profit-taking in selected heavyweight counters amid a mixed regional performance, said an analyst. The FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.23 points, or 0.67 per cent, to settle at 1,660.09 from Thursday’s close. The benchmark index, which opened 2.73 points easier at 1,668.59, moved between 1,658.49 and 1,668.59 throughout the day. On the broader market, decliners outnumbered gainers by 642 to 448 while 478 counters were unchanged, 958 untraded and 123 suspended. Turnover dropped to 3.02 billion units worth RM2.68 billion from Thursday’s 3.13 billion units