global economic


Oil and gas sector to recover, says RHB

KUALA LUMPUR, April 18 — The oil and gas (O&G) sector is likely to see a recovery on all fronts this year, having seen its earnings trough in 2017, said RHB Research Institute. In its strategy note focusing on Malaysia, the research firm said…

Japan, China pledge to work on economic ties amid heightened trade tensions

TOKYO, April 16 ― Japanese Foreign Affairs Minister Taro Kono and his Chinese counterpart kicked off the first high-level economic talks between their nations in eight years today, at a time of tense trade relations with the United States for…

Malaysian IT spending to reach RM64b this year

KUALA LUMPUR: In Malaysia, spending on technology products and services is forecast to grow 5.8% to reach RM64.4 billion in 2018.

Meanwhile, worldwide IT spending is projected to total US$3.7 trillion (RM14.3 trillion) in 2018, an increase of 6.2% from 2017, according to the latest forecast by Gartner, Inc.

Gartner research vice-president John-David Lovelock said although global IT spending is forecast to grow 6.2% this year, the declining US dollar has caused currency tailwinds, which are the main reason for this strong growth.

“This is the highest annual growth rate that Gartner has forecast since 2007 and would be a sign of a new cycle of IT growth. However, spending on IT around the world is growing at expected levels and is in line with expected global economic growth.

“Through 2018 and 2019, the US dollar is expected to trend stronger while enduring tremendous volatility due to the uncertain political environment, the North American Free Trade Agreement renegotiation and the potential for trade wars,” he said in a statement.

Gartner’s IT spending forecast methodology relies heavily on rigorous analysis of sales by thousands of vendors across the entire range of IT products and services. Gartner uses primary research techniques, complemented by secondary research sources, to build a comprehensive database of market size data on which to base its forecast.

Malaysian IT spending to reach RM64.4 billion in 2018, says Gartner


KUALA LUMPUR (Apr 10): Spending on technology products and services to grow 5.8% to reach RM64.4 billion in 2018 while worldwide IT spending is projected to total $3.7 trillion in 2018, an increase of 6.2% from 2017, according to the latest forecast by Gartner, Inc. In a statement today, Gartner research vice president, John-David Lovelock said that the main reason for the strong growth was the declining US dollar that caused currency tailwind. “This is the highest annual growth rate that Gartner has forecast since 2007 and would be aRead More

Wall Street higher as US-China trade war worries ebb

NEW YORK, April 9 — Wall Street rebounded from last week’s trade tariff driven selloff to open higher today, taking comfort in comments from the Trump administration officials who stressed the trade dispute with China could be resolved through…

Asian currencies mostly firm as US-China trade tensions weigh on US dollar

SINGAPORE, April 9 — Most emerging Asian currencies firmed today, with the US dollar staying in a defensive stance on concerns over US-China trade tensions and following a report that showed the US economy created the fewest jobs in six months…

Wall Street ends down 2pc as US-China trade fears intensify

NEW YORK, April 7 — US stocks dropped about 2 per cent yesterday, with the Dow falling more than 570 points, as US President Donald Trump’s latest tariff threat on Chinese imports fuelled increasing concern over a US trade war with China….

Stocks slip on Trump’s latest trade salvo, US jobs report awaited

LONDON, April 6 — Stock markets fell today after US President Donald Trump’s threat to impose an extra US$100 billion in tariffs on China exacerbated fears of a more serious trade dispute, while the dollar paused ahead of crucial US payrolls…

FBM KLCI to see relief rally post GE14

KUCHING: With the 14th General Elections (GE14) just around the corner, MIDF Amanah Investment Bank Bhd (MIDF Research) believes the local equity market will stage another relief rally post elections. In a strategy report, MDIF Research said that in comparison to its peers in the South East Asian region, the FBM KLCI is already mirroring […]

US stocks open sharply lower on trade war fears

NEW YORK, April 4 — Wall Street stocks opened sharply lower today as China’s vow to slap steep retaliatory tariffs on US$50 billion in US goods raised fears of a trade war. About 10 minutes into trading, the Dow Jones Industrial Average was…