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

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