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| Can the ringgit close the gap on the S’pore dollar? |
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Posted by: superadmin - 05-15-2022, 01:00 PM - Forum: Business. Economy and Investment
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PETALING JAYA: The Singapore dollar hit an all-time high against the ringgit two weeks ago, as Malaysia continues to play catch-up with its neighbour across the Causeway in the post-pandemic recovery journey.
While Johor menteri besar Onn Hafiz Ghazi said the weakened ringgit would attract Singaporeans to come to Malaysia and spend, state opposition leader Liew Chin Tong said there was a need for a long-term plan to keep Malaysians home.
Though the ringgit appreciated slightly on Thursday against the Singapore dollar, many might wonder if the currency could ever fully close the gap.
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| Erdogan says Turkey doesn’t support Sweden, Finland joining NATO |
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Posted by: superadmin - 05-14-2022, 02:10 PM - Forum: Politics
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- NATO ascension for a new member state requires consensus approval from all existing members.
- Turkey joined NATO in 1952, and has the second-largest military in the 30-member alliance after the United States.
- Finland’s leaders on Thursday called for NATO membership “without delay” and neighboring Sweden is expected to follow suit.
Turkish President Recep Tayyip Erdogan has thrown Sweden and Finland’s potential NATO membership into doubt, just as both countries are on the cusp of applying to join the alliance in the wake of Russia’s invasion of Ukraine.
“We are following the developments regarding Sweden and Finland, but we don’t hold positive views,” Erdogan told press in Istanbul on Friday.
NATO ascension for a new member state requires consensus approval from all existing members.
A senior American diplomat said the U.S. is working to clarify Turkey’s official position on the matter. The issue will be discussed at the NATO ministerial meeting in Berlin over the weekend, Karen Donfried, assistant secretary for Europe and Eurasian affairs, was quoted by Reuters as saying in a press call later on Friday.
Turkey joined NATO in 1952, and has the second-largest military in the 30-member alliance after the United States. Erdogan referenced the Nordic countries’ hosting of members of the Kurdish Workers’ Party, or PKK, which Turkey classifies as a terrorist group.
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| Anwar-Najib debate: lawmakers, audience split over who won |
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Posted by: superadmin - 05-13-2022, 02:44 PM - Forum: Politics
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KUALA LUMPUR – As opposition leader Datuk Seri Anwar Ibrahim and former prime minister Datuk Seri Najib Razak argued on economic policies in last night’s televised debate, lawmakers and audience members at the venue have contradictory views over who had the upper hand.
For lawyer and Penangite Yusmadi, 48, Anwar appeared to be more in touch with the problems endured by the laymen, while Najib projected an elitist and corporate friendly image.
He added that Anwar appeared more coherent and in doing so was able to identify pertinent problems afflicting the man on the street.
“Najib was coming from a very pro-corporate perspective, while Anwar included the marginalised, those at a disadvantage and the vulnerable, who are supposed to be given highest priority in terms of help needed.
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| Thomas Cup: Jun Hao baffled over Malaysia’s heartbreaking exit |
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Posted by: superadmin - 05-13-2022, 02:39 PM - Forum: Badminton
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BANGKOK – Clueless and shocked. That was the reaction from Malaysia’s third singles Leong Jun Hao after he failed to keep alive Malaysia’s hope of ending a 30-year title drought in the Thomas Cup here.
Jun Hao lost to India’s Prannoy H.S. 13-21, 8-21 in a crunch match to determine a place in the semi-finals of the 2022 Thomas Cup Finals at Impact Arena.
“I just don’t know what to say. I failed to contribute to Malaysia,” a teary-eyed Jun Hao told reporters when met after the match in the mixed zone here.
India handed a painful 3-2 defeat to Malaysia and created their own history of reaching their maiden semi-finals in the world’s most prestigious badminton team tournament.
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| Powell says he can’t guarantee a ‘soft landing’ as the Fed looks to control inflation |
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Posted by: superadmin - 05-13-2022, 02:32 PM - Forum: Business, Economy and Investment
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- Fed Chairman Jerome Powell cautioned Thursday that getting inflation under control won’t be easy.
- “Nonetheless, we think there are pathways ... for us to get there,” he said in an interview with Marketplace published Thursday.
Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority.
Powell said he couldn’t promise a so-called soft landing for the economy as the Fed raises interest rates to tamp down price increases running near their fastest pace in more than 40 years.
“So a soft landing is, is really just getting back to 2% inflation while keeping the labor market strong. And it’s quite challenging to accomplish that right now, for a couple of reasons,” the central bank chief said in an interview with Marketplace.
He noted that with a tight labor market pushing up wages, avoiding a recession that often follows aggressive policy tightening will be a challenge.
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| More than $200 billion erased from entire crypto market in a day |
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Posted by: superadmin - 05-13-2022, 02:29 PM - Forum: Business, Economy and Investment
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More than $200 billion erased from entire crypto market in a day as sell-off intensifies - The price of bitcoin plunged below $26,000 on Thursday, hitting its lowest level in 16 months.
- Ether, the second-biggest digital currency, tanked below $2,000 per coin.
- The collapse of stablecoin terraUSD has led to fears of a broader market contagion.
Bitcoin fell below $26,000 for the first time in 16 months, amid a broader sell-off in cryptocurrencies that erased more than $200 billion from the entire market in a single day.
The price of bitcoin plunged as low as $25,401.29 on Thursday, according to Coin Metrics. That marks the first time the cryptocurrency has sunk below the $27,000 level since Dec. 26, 2020.
Bitcoin has since pared its losses and was last trading at $28,569.25, down 2.9%.
Ether, the second-biggest digital currency, tanked to as low as $1,704.05 per coin. It’s the first time the token has fallen beneath the $2,000 mark since June 2021. Ether was last down 8.8% at a price of $1,937.88.
Investors are fleeing from cryptocurrencies at a time when stock markets have plunged from the highs of the coronavirus pandemic on fears over soaring prices and a deteriorating economic outlook. U.S. inflation data out Wednesday showed prices for goods and services jumping 8.3% in April, higher than expected by analysts and close to the highest level in 40 years.
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