Business

KUALA LUMPUR, The ringgit is expected to end firmer at 4.60 against the US dollar by the end of this year, said Maybank Investment Bank Bhd (Maybank IB). Its group chief economist, Suhaimi Ilias said the forecast of a stronger ringgit follows the US Federal Reserve’s (Fed) interest rate cut expectation and Bank Negara Malaysia’s (BNM) decision to maintain the overnight policy rate (OPR) at 3.00 per cent. He said the Fed is expected to start cutting interest rates as soon as September and there will be three rates cut during the Federal Open Market Committee meeting in September, November

KUALA LUMPUR, In line with the Public Finance and Fiscal Responsibility Act, the government is committed to reducing its borrowings in terms of the debt-to-gross domestic product (GDP) ratio to 60 per cent within a five-year timeframe from the current 64 per cent to ensure a stronger and more sustainable fiscal position for the nation, said Treasury Secretary-General Datuk Johan Mahmood Merican. He said the government has already started reducing the annual net borrowings gradually, from about RM100 billion for both 2021 and 2022 to RM93 billion in 2023, and is targeting RM86 billion in 2024. This is being achieved

TAWAU, Sabah has much to offer the halal industry, given its rich reserves of raw materials and semi-finished goods, alongside its strategic geographical advantages, said Halal Development Corporation (HDC) chief executive officer Hairol Ariffein Sahari. Its excellent flight connectivity — which includes direct flights between Tawau and China — provides vast opportunities for the growth of halal businesses and seamless integration into global halal supply chains, linking Malaysia with key markets like China, Japan and South Korea. ‘We aim to showcase the potential of Sabah’s resources and entrepreneurs to manufacturers in Peninsular Malaysia and worldwide, enabling them to produce high-quality

KUALA LUMPUR, Nippon Kinzoku Co Ltd has named and registered the trademark “Fine Profile” for its cold profile rolled products, which can be used for various metals from ferrous to nonferrous, by combining its proprietary cold rolling technology and specialised equipment. According to a statement, Fine Profile is the company’s original new product that contributes to customers’ manufacturing cost reduction and yield improvement as an alternative to various machining processes such as cutting and grinding. With aim to expand sales of this product in the future, it features cost reduction of metal processing, resource saving, energy saving; stabilisation of quality;

KUALA LUMPUR, EBC Financial Group (EBC) and DiNapoli’s leading indicators, announced strategic partnership, integrating DiNapoli’s renowned trading approach into the contract for difference (CFD) trading realm, at a recent signing ceremony. According to a statement, this alliance aims to provide investors with advanced insights and tools to master effective trading strategies in today’s dynamic market. The signing ceremony was featured in “Revolutionising CFD Trading with DiNapoli’s Leading Indicators” event, marking a significant milestone in the world of CFD trading, with renowned trader and author, Joe DiNapoli. EBC Financial Group’s United Kingdom (UK) and Cayman entities Chief Executive Officer, David Barrett