central bank


Creation of new ministry part of Myanmar’s plan to incentivise FDI

In an attempt to reverse a recent decline in foreign investment, Myanmar has set up a new ministry tasked with attracting and facilitating fresh inflows, though concerns over the re-imposition of import tariffs by the EU could cool investor appetite. On November 19 the government established the Ministry of Investment and Foreign Economic Relations, a […]

China's Xi urges financial risk prevention while seeking stable growth

BEIJING, Feb 23 ― China should seek stable development of its economy while not forgetting to fend off risks to its financial system, Chinese President Xi Jinping said, state news agency Xinhua reported today. China's economy is growing at its…

US-China trade hopes lift stocks, oil hits three-month high

NEW YORK, Feb 23 ― Stocks rose in major markets across the world yesterday on bets of progress in trade talks between China and the United States, while crude futures hit their highest level in more than three months supported by ongoing supply…

Australia plays down reports of Chinese coal ban

SYDNEY: Canberra on yesterday played down reports a major Chinese port had banned coal imports from Australia, as fears grow that worsening diplomatic tensions are damaging the nations’ crucial trading relationship. Industry experts have noted recently that China appeared to be delaying customs clearances for Australian coking coal used in steel-making, but a report late […]

Fitch affirms Malaysia’s rating at ‘A-’, outlook stable

KUALA LUMPUR: Fitch Ratings has affirmed Malaysia’s long-term foreign-currency issuer default rating (IDR) at ‘A-’ with a stable outlook. The ‘A-’ rating reflects higher growth rates than the peer median and a net external creditor position which is supported by steady current account surpluses and large external assets. However, the rating is constrained by high […]

Zimbabwe devalues currency to tackle economic crisis

HARARE, Feb 22 — Zimbabwe’s central bank began trading a sharply discounted replacement currency today, attempting to ease a cash crunch that has hobbled the economy and plunged millions deep into poverty. Zimbabwe adopted the dollar in 2009…

Months-long slide in German business morale deepens

FRANKFURT AM MAIN, Feb 22 — Confidence among business leaders in Germany fell for the sixth month in a row in February, a closely-watched survey showed today, as global trade struggles cast a pall over Europe’s powerhouse economy. The…

UOB maintains inflation forecast at 2.0pc in 2019

KUALA LUMPUR, Feb 22 — United Overseas Bank (Malaysia) Bhd has maintained its inflation forecast of 2.0 per cent for 2019 on the back of a sustained recovery in oil prices, stable broadband prices, potential weather disruptions, and resilient…

BNM international reserves up 0.2% to US$102.3b as at Feb 15

PETALING JAYA: Bank Negara Malaysia’s (BNM) international reserves stood at US$102.3 billion as at Feb 15, 2019, 0.2% higher than the US$102.1 billion as at Jan 31, 2019.

The central bank said in a statement today that the reserves position is sufficient to finance 7.3 months of retained imports and is 1.0 time total short-term external debt.

Fitch affirms Malaysia's rating of 'A-' with stable outlook

KUALA LUMPUR, Feb 22 — Fitch Ratings has affirmed Malaysia's long-term foreign-currency issuer default rating (IDR) at “A-” with a stable outlook. The “A-” rating reflects higher growth rates than the peer median and a net external…