singapore

 
 

Singapore Airlines to shift planes from SilkAir to budget arm Scoot

SINGAPORE: Singapore Airlines Ltd said on Thursday it expected to transfer some jets from its SilkAir regional airline to budget carrier Scoot, allowing it to compete more effectively against low-cost rivals like AirAsia Group Bhd and Lion Group. The plan comes after the carrier announced last month it would absorb underperforming SilkAir into the parent […]


Enfrasys Consulting recognised as 2018 Microsoft Country Partner of the Year for Malaysia

KUCHING: Enfrasys Consulting Sdn Bhd proudly announced it has won the 2018 Microsoft Country Partner of the Year Award for Malaysia. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology. Established in 2010, Enfrasys Consulting is a solution […]


Ringgit rebounds to close slightly higher against US dollar

KUALA LUMPUR: The ringgit rebounded to close slightly higher against the US dollar today, as the greenback retreated from an 11-month high on profit-taking after a recent rally, dealers said.

At 6pm, the ringgit was quoted at 4.0010/0040 against the greenback compared with Thursday's close of 4.0140/0170.

A dealer said the local currency was marginally higher by about 0.31%, in tandem with the slight weakening of the dollar index by 0.26%.

“The movement of the local currency was also in tandem with a slight improvement on Bursa Malaysia which closed higher, bucking the regional trend on positive local news,” he said.

Prime Minister Tun Dr Mahathir Mohamad's comment that he sees the fair value of the ringgit at RM3.80 against the US dollar helped lift the local currency, he said.

On another note, he added the announcement of Datuk Nor Shamsiah Mohd Yunus as the new Governor of Bank Negara Malaysia (BNM) today, for a term of five years effective from July 1, 2018, was also seen as a positive as she is a very capable figure with in-depth knowledge and experience in BNM.

The local unit was traded mostly lower against a basket of currencies, except the Japanese yen.

It fell against the Singapore dollar to 2.9484/9511 from Thursday's close of 2.9461/9493 and decreased against the British pound to 5.3189/3245 versus 5.2620/2675.

The ringgit fell against the euro to 4.6644/6683 from 4.6233/6276 on Thursday, but improved vis-a-vis the Japanese yen to 3.6323/6360 from 3.6355/6386 yesterday. — Bernama


Asian traders end brutal week cautiously as trade fears simmer

HONG KONG, June 22 — Asian investors ended a tumultuous week on a cautious note today as the prospect of a debilitating global trade war hung over regional markets. As European Union tariffs on key US goods — including jeans, bourbon and…


SE Asia stocks most lower on trade woes, Philippines falls over 2pc

NEW YORK, June 22 — Most South East Asian shares traded on a weak note on Friday as investors assess the likely fallout of a global trade spat on corporate earnings, with the Philippines continuing its dismal run with an over 2 per cent fall in…


Oil prices rise on uncertainty ahead of Opec meeting

SINGAPORE, June 22 — Oil prices rose by more than 1 per cent in early Asian trading today, pushed up by uncertainty over whether Opec would manage to agree a production increase at a meeting in Vienna later in the day. Brent crude futures, the…


Easy as A, B, Xi: China gives economic lessons to North Korea

BEIJING, June 21 —Chinese President Xi Jinping has coached his North Korean counterpart Kim Jong Un on high-stakes diplomacy. Now he seems poised to give the young autocrat another lesson: how to reform a state-controlled economy while keeping an…


Bursa Malaysia poised for correction amid foreign outflows

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KUALA LUMPUR: The worst streak of losses for Malaysian shares since last October is pushing the nation’s benchmark gauge toward a so-called correction. The FTSE Bursa Malaysia KLCI Index fell as much as 1 percent on Thursday, taking its decline to 11 percent since a peak two months ago. Down for a ninth straight day, the measure is heading for its lowest level since February 2017. Malaysian stocks have become some of the world’s worst performers since a record in April, down more than 10%. Foreign investors trying to adjustRead More


Asian currencies hit by stronger US dollar, Indonesian rupiah slumps

SINGAPORE, June 21 — All emerging Asian currencies weakened against a firming US dollar today, as comments by the US Federal Reserve chairman on the pace of rate hikes and a pick-up in US yields fuelled the greenback. Treasury yields rose…


South-east Asia stocks: Philippines slumps 2pc, move further into bear territory

SINGAPORE, June 21 — Philippine shares slumped 2 per cent on today and moved further into bear territory on persistent foreign investor selling, largely sparked by a weak peso which hit a 12-year low earlier this week. The Philippine Stock…