Category: General

KUALA LUMPUR, The ringgit retreated from its winning streak to close lower against the greenback today as the US Dollar Index (DXY) rebounds. At 6 pm, the ringgit declined to 4.4725/4770 versus the greenback from yesterday’s close of 4.4240/4305. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid opined that global financial markets have yet to calm as fears over the potential recession would continue to hog the limelight. “There might be a tendency for US dollar demand to rise as traders seek refuge in the safe-haven currency. “At the moment, the ringgit will move closer to the

KUALA LUMPUR, The government will look into the need to extend the incentive for employers under the Progressive Wage Policy (PWP) from 12 months to 24 months to enable employers to benefit from high productivity and skilled workers under the programme, said Economy Minister Rafizi Ramli. He said that this was based on the impact assessment made of the pilot project which was carried out from June to August 2024. ‘This pilot project is for us to see how this system operates, as well as the feedback we can get. ‘We want to make sure the learning curve that we

PUTRAJAYA, The Hulu Langat District Health Office’s (PKD) decision to approve only 60 days of maternity leave for its medical officers does not violate maternity leave regulations, said Director-General of Public Service (KPPA) Datuk Seri Wan Ahmad Dahlan Abdul Aziz. He said that have the discretion to consider granting maternity leave of between 60 days and 90 days for officers taking into account the importance of the service. ‘In this regard, the approval of 60 days of maternity leave for medical officers at Hulu Langat PKD is subject to the department head’s consideration, taking into account the importance of the

KUALA LUMPUR, The gold futures contract on Bursa Malaysia Derivatives retreated to close lower today, albeit with better performance of COMEX gold futures. At the close, spot month August 2024 was down to US$2,432.60 per troy ounce from US$2,474.50 per troy ounce at yesterday’s close. Meanwhile, September 2024, October 2024, November 2024, December 2024, and February 2025 settled lower at US$2,436.30 per troy ounce compared to US$2,478.20 per troy ounce previously. Volume improved to 51 lots from 22 lots on Monday, while open interest rose to 21 contracts against nine contracts previously. The price of physical gold stood at US$2,393.85

KUALA LUMPUR, Bursa Malaysia staged a swift comeback to close higher on Tuesday, driven by bargain hunting, amid a recovery in most regional peers after facing a global stock-market rout in the previous session, said a dealer. Japan’s Nikkei 225 rebounded 3,217.04 points or 10.23 per cent to 34,675.46 compared to yesterday’s massive losses of over 4,000 points, the worst since 1987. The Shanghai SSE Composite Index was up by 0.23 per cent to 2,867.28 and Indonesia’s IDX Composite increased by 1.31 per cent to 7,151.80. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) soared 37.91 points or