Category: General

KUALA LUMPUR, The ringgit revisits the RM4.19 level against the US dollar today, with immediate support expected at RM4.07, driven by Malaysia’s lower-than-forecasted CPI increase of 1.9 per cent and a 50 basis point interest rate cut by the US Federal Reserve. At 8 am, the local note traded at 4.1995/2055 versus the greenback from Monday’s close of 4.2000/2060. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit should remain well supported today due to the latest CPI print released yesterday, which came in at 1.9 per cent, suggesting that the inflation rate has stabilised.

The private sector’s collaboration with the government has bolstered the Marcos administration’s effort to beat the almost 600,000 housing unit backlog in Central Visayas, a housing development official said on Tuesday. Lawyer Lyndon Juntilla, regional director of the Department of Human Settlement and Urban Development (DHSUD) in Central Visayas, said the region has only 588,386 housing unit backlog out of the 6.5 million nationwide that is targeted to be accomplished before President Ferdinand Marcos Jr.’s term ends in 2028. Juntilla, however, said only over 13,000 is the target number of housing units under the Pambansang Pabahay para sa Pilipino Program

The city government of Surigao is conducting a weeklong tourism campaign to highlight its cultural heritage, local creative industries, and economic potential. The 2024 National Tourism Week and Creative Industries Month in Sept. 23 to 27 will showcase local craftsmanship, foods, and goods from the city and nearby municipalities in Surigao del Norte. ‘The weeklong activity will also highlight creative festival performances and exhibits of our local artists,’ the city government said in a statement on Tuesday. City Tourism Officer Roselyn Merlin said the activities will promote Surigao City’s local creative industries to attract more tourists. The ‘Lunsod-Lunsad’ program, in

KUALA LUMPUR, The ringgit closed marginally higher against the US dollar on Monday as a lower domestic inflation rate helped to extend its recent gains, an analyst said. At 6 pm, the local currency climbed to 4.2000/2060 against the greenback, compared to last week’s close of 4.2005/2070. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that Malaysia’s latest consumer price index (CPI) print for August 2024 came in at 1.9 per cent, lower than the 2.0 per cent rate for three consecutive months before August. He said this indicated strong economic growth in Malaysia, with inflation

KUALA LUMPUR, To date, a total of 153 accounts linked to GISB Holdings Sdn Bhd (GISBH) worth RM882,795.94 have been frozen, said Inspector-General of Police Tan Sri Razarudin Husain. He said 38 vehicles, estimated to be worth RM3.94 million, and 14 plots of land, the value of which is still under investigation, were also seized. The freezing of the accounts was carried out under Section 44(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act, while the seizures were made under Section 45(2) of the same act. “A total of 26 animals, consisting of nine horses, 14