Ringgit retreats against US dollar at opening

KUALA LUMPUR, April 25 — The ringgit opened marginally lower against the US dollar today on deterioration of risk sentiment, said dealers. At 9am, the ringgit was quoted at 3.9050/9100 from 3.9030/9080 recorded at yesterday’s close. OANDA Head…

KLCI gets off to sluggish start, extends loss in line with region


KUALA LUMPUR (April 25): The FBM KLCI got off to sluggish start this morning in line with the fall at most regional markets. At 9.05am, the…

Asian shares spooked by rising US yields, cost worries

TOKYO, April 25 — Asian shares were under pressure today, with a rise in US bond yields above the 3 per cent threshold and warnings from bellwether US companies of higher costs driving fears that corporate earnings growth may peak soon. MSCI's…

Oil slips as Trump, France's Macron talk Iran deal

NEW YORK, April 25 — Oil prices slipped yesterday as concerns the United States might reinstate sanctions against Iran faded somewhat, reducing worries about the future of Iranian exports. US President Donald Trump and French President Emmanuel…

Ringgit closes lower on heightened demand for US dollar

KUALA LUMPUR, April 24 — The ringgit extended its downtrend to close lower against the US dollar today on strong buying interest for the greenback as US bond yields increased, a dealer said. At 6pm, the ringgit was quoted at 3.9030/9080 from…

Ringgit extends downtrend against US dollar

KUALA LUMPUR: The ringgit extended its downtrend to close lower against the US dollar today on strong buying interest for the greenback as US bond yields increased, a dealer said.

At 6pm, the ringgit was quoted at 3.9030/9080 from 3.8965/8995 on Monday.

It was reported that the 10-year US Treasury yield, which could potentially hit and break the three per cent level, could cause problems for the global economy as borrowing money would become more expensive.

OANDA Head of Trading Asia-Pacific, Stephen Innes, said the sell-off of local bonds also weakened the ringgit.

“Investors continue to pare back the ringgit's exposure as locals are turning increasingly risk-averse as they think the (coming) general election results could be a lot tighter than initially predicted,” he said.

The ringgit, however, closed mixed against a basket of major currencies.

The local note fell against the Singapore dollar to 2.9510/9559 from 2.9452/9481 on Monday and eased against the British pound to 5.4466/4552 from 5.4411/4464 yesterday.

It rose against the yen to 3.5860/5913 from 3.6005/6043 on Monday and strengthened versus the euro to 4.7644/7713 from 4.7658/7706 yesterday. — Bernama

Oil tops US$75, highest since 2014 Opec meeting that led to pump war

SINGAPORE, April 24 — Oil rose today above US$75 a barrel to its highest since November 2014, supported by Opec-led production cuts, strong demand and the prospect of renewed US sanctions on Iran. Brent crude, the global benchmark, hit its highest…

MBSB Bank enters into agreement with FIS Asia Pacific for treasury system

PETALING JAYA: MBSB Bank Bhd has signed an agreement with the global financial services technology provider FIS Asia Pacific Inc (FIS) for the bank's treasury management system.

In a statement, MBSB said that in line with the new business model and structure, its Global Markets Department aims at operating with a larger bank treasury and due to that, FIS will be providing the bank its treasury management system.

FIS will deliver several solutions ranging from treasury management, asset and liability management, market data and reconciliation, it noted.

By deploying an enterprise reconciliation strategy, MBSB said it can benefit from greater process transparency, reduced process cost, lower total cost of ownership and eased administrative burden, while achieving an increase in internal and external customer service levels.

“We are confident that together with FIS consultants who are specialists in these areas, MBSB Bank will be able to harness the key elements of the requirements which include 'Straight Through Processing' (STP),” its president and CEO Datuk Seri Ahmad Zaini said.

“This also involves process automation, industry's best practices multi system integration, deep reporting capabilities and comprehensive risk management tools,” he added.

US dollar stands tall as 10-year bond yield nears 3pc

SINGAPORE, April 24 — The dollar set a three-month high against a basket of currencies today, having gained a boost as the US 10-year Treasury yield climbed toward the psychologically key 3 per cent level. The US 10-year Treasury yield hit its…

Asia stocks down with US bond yields close to four-year high

TOKYO, April 24 — Asian stocks slipped and the US dollar advanced today, as a deluge of US government debt this week and the spectre of inflation and a higher fiscal deficit drove US borrowing costs near four-year highs. MSCI's broadest index of…