Monday, July 3rd, 2017

 

Four former Barclays bankers in court over Qatari deal

LONDON, July 3 — Four former top Barclays executives appeared in court in London today to face charges that they conspired to commit fraud during the bank’s £12 billion (RM66.8 billion) emergency fundraising in 2008. Former Chief Executive…


Wall Street opens higher as banks lead broad rally

NEW YORK, July 3 — US stocks began the third quarter on a positive note in a truncated session today, with bank shares leading a broad rally. Goldman Sachs gave the biggest boost to the Dow Jones Industrial Average, while Bank of America and…


Indonesia hopes for additional US$10b inflows after S&P upgrade, president says

JAKARTA, July 3 — Indonesia is hoping for additional inflows worth US$10 billion (RM43 billion) from pension funds and other institutional investors over the next two years following Standard & Poor’s upgrade of its credit rating to investment…


Oil major Total marks return to Iran with gas field deal

PARIS, July 3 — French oil major Total said today it had signed a contract with Iran to develop the giant South Pars gas field, marking the first major Western energy investment since sanctions against Tehran were lifted. Total and the…


Bank of England staff vote for first strike in 50 years (VIDEO)

LONDON, July 3 — Bank of England staff have voted to hold their first strike in more than 50 years in a push for higher pay, a union said today, adding to pressure for an end to tight controls on public sector wages in Britain. Unite,…


Bank of England staff vote for first strike in 50 years

LONDON, July 3 — Bank of England staff have voted to hold their first strike in more than 50 years in a push for higher pay, a union said today, adding to pressure for an end to tight controls on public sector wages in Britain. Unite,…


Ringgit closes lower against the US Dollar

KUALA LUMPUR: The ringgit closed lower against the US dollar today on lower demand and in line with most of its regional peers, a dealer said.

At 6pm, the local note traded at 4.2965/2995 from 4.2920/2950 against the greenback last Friday.

News reports that the dip in Asian currencies was due to a knee-jerk reaction following Japanese Prime Minister Shinzo Abe's Liberal Democratic Party's historic election defeat on Sunday, signalled potential trouble ahead for the premier.

Meanwhile, Oanda Senior Trader Stephen Innes said while it may be too early to draw any long-term significance to the Malaysia's turn around in the export sector, the ringgit remained a bright spot, nonetheless.

“As the broader market remains focus on central banks' intentions to tighten monetary policies, the ringgit should continue to gain investor appeal from an improving macro landscape.

He said traders would closely monitor the upcoming G-20 conference to gauge sentiment around trade and what economies stand up to US President Donald Trump's protectionist tone.

At close, the ringgit traded higher against other major currencies.

It rose against the Singapore dollar to 3.1107/1131 from 3.1181/1220 on Friday, appreciated against the British pound to 5.5738/5790 from 5.5757/5801, advanced against the yen to 3.8049/8082 from 3.8328/8365 and improved against the euro to 4.8860/8903 from 4.8963/8015 on Friday. — Bernama


Britain misses out as global manufacturing surges

SINGAPORE, July 3 — British factories were left out of a demand-driven surge in activity across much of Asia and Europe in June, as weakness in sterling failed to translate into export growth, surveys showed. Factories in the euro zone rounded…


Ringgit closes lower on weak demand

KUALA LUMPUR, July 3 — The ringgit closed lower against the US dollar today on lower demand and in line with most of its regional peers, a dealer said. At 6pm, the local note traded at 4.2965/2995 from 4.2920/2950 against the greenback last…


Bursa closes higher on bargain-hunting

KUALA LUMPUR, July 3 — The FTSE Bursa Malaysia KLCI (FBM KLCI) closed five points or 0.28 per cent higher at its intra-day high of 1,768.67 points, lifted by bargain hunting activities mostly for selected stocks led by gains in Petronas Gas,…