Cake Becomes the First Digital-Only Bank in Southeast Asia to Receive the Highest-Level ISO Certification for Facial Biometrics
A Digital Bank Owning Its Core Technology
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The Star
24 minutes ago
- The Star
Ringgit ends higher against US dollar on Fed rate cut hopes
KUALA LUMPUR: The ringgit continued to close higher against the US dollar as expectations of an interest rate cut by the US Federal Reserve (Fed) gained momentum, said an analyst. At 6 pm, the local note climbed to 4.2260/2310 against the greenback from Monday's close of 4.2350/2385. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that risky assets such as equities have been rising as a lower interest environment would be positive for corporate finances, especially on their cost of borrowings. Commenting on the US Fed, the economist noted that a series of Fed speakers are expected to shed more light on the future direction of US interest rates. He noted that several Fed officials, San Francisco Fed President Mary Daly, Boston Fed President Susan Collins, and Fed Governor Lisa Cook, will be speaking to the public on Thursday. "Our sense is that the market would want to hear the latest conviction among the Fed as to how the interest rate would evolve in the months to come, especially in the September Federal Open Market Committee meeting," he told Bernama. At the close, the ringgit ended firmer against major currencies. It rose against the Japanese yen to 2.8618/8654 from 2.8652/8677 at the close on Monday, gained versus the British pound to 5.6159/6226 from 5.6296/6342, and was higher against the euro to 4.8772/8830 from 4.8978/9018 previously. The ringgit was also strengthened against regional peers. It improved against the Singapore dollar to 3.2793/2834 from 3.2878/2908, inched up versus the Thai baht to 13.0408/0627 from 13.0452/0616, strengthened against the Indonesian rupiah to 257.8/258.2 from 258.2/258.5 and improved against the Philippine peso to 7.33/7.34 from 7.38/7.39 previously. - Bernama
The Sun
an hour ago
- The Sun
KPDN cracks down on illegal LPG decanting in subsidy misuse
PUTRAJAYA: The Ministry of Domestic Trade and Cost of Living (KPDN) is stepping up enforcement against the illegal transfer of subsidised liquefied petroleum gas (LPG) through decanting, a major cause of subsidy leakage. Deputy Minister Datuk Dr Fuziah Salleh stated that Ops Gasak is being expanded to curb exploitation by syndicates posing as legitimate businesses. She revealed that subsidised LPG from 14-kg cylinders, priced at RM26.60, is being illegally transferred to non-subsidised cylinders sold at RM70. 'The price difference shows the high profits driving this illegal activity,' she told Bernama. A recent case in Johor exposed decanting operations disguised as wholesale businesses, leading to arrests under the Supply Control Act 1961. Ops Gasak is active nationwide except in Sarawak, where LPG enforcement is state-regulated. Dr Fuziah emphasised that subsidised LPG must only benefit eligible households and micro-entrepreneurs. 'Wholesalers supplying gas to industries will face strict action,' she added. The operation, running until October 31, is part of the Kita Gempur initiative to combat subsidy manipulation. - Bernama
Borneo Post
an hour ago
- Borneo Post
Gobind: AI guidelines being drafted to combat online fraud
Gobind Singh Deo. – Bernama file photo PUTRAJAYA (Aug 5): The Digital Ministry, through the Personal Data Protection Department, is developing artificial intelligence (AI) based guidelines that are expected to be completed in early 2026, its minister Gobind Singh Deo said. These include guidelines on Data Protection Impact Assessment; Data Protection by Design guidelines; and guidelines on Automated Decision Making (ADM) and Profiling, he added. 'These are initiatives by the Digital Ministry to combat online scams as such fraud is now driven by AI like deepfake videos and voice cloning,' he said, as he reiterated his ministry's commitment to step up efforts to develop a safe, responsible and resilient AI ecosystem in line with making Malaysia a regional pioneer in digital economy and cyber security. The National Digital Department is also developing Guidelines for AI Adaptation in the Public Sector to support government departments and agencies to implement safe, ethical and responsible use of AI, in line with legal governance and compliance to human rights. 'The government is also conducting training and capacity building programmes to enforcement agencies and the civil service in cyber security and AI fields through 'AI Untuk Rakyat' and MD Workforce training programmes under the Malaysia Digital Economy Corporation (MDEC),' he added. CyberSecurity Malaysia is also developing an AI-based app in partnership with Universiti Kebangsaan Malaysia (UKM) to confirm the veracity of photos and videos aimed to assist cyber crime investigations such as online scams, identity theft and the spread of digital slander. – Bernama
