Latest news with #MalaysianRinggit
BusinessToday
01-08-2025
- Business
- BusinessToday
MYR Under Pressure But Tariff Deal Offers Glimmer Of Hope
The Malaysian Ringgit (MYR) has been on the back foot, trading between 4.23 and 4.27 against the US Dollar (USD) as the Dollar Index (DXY) surged past 100.0 for the first time since May, signaling a renewed strength in the greenback. This comes amidst a complex interplay of global trade dynamics and shifting US economic data. Initial market optimism stemming from a recent US-EU trade deal proved short-lived. Investors quickly recalibrated their expectations, concluding that broad-based tariffs would continue to exert pressure on global trade, prompting a flight to the safety of the US Dollar and pushing the DXY higher. Concerns over the US employment landscape were briefly sparked by weaker-than-expected Job Openings and Labor Turnover Survey (JOLTS) data for June, which showed a decline to 7.43 million job openings against a forecast of 7.55 million. However, these fears were largely offset by robust July ADP private payroll figures, which surprisingly rose by 104,000 against a forecast of 77,000, and a stronger-than-expected US GDP growth of 3.0% in the second quarter of 2025. Adding to the dollar's resilience, the Federal Reserve (Fed) maintained a hawkish stance, firmly resisting political pressure for immediate interest rate cuts. Looking ahead, the macro calendar for the coming week is relatively light. Market attention remains firmly fixed on tonight's crucial US labor report. Consensus forecasts anticipate non-farm payrolls to come in at 104,000 and the unemployment rate at 4.2%. Kenanga Research noted that a potential silver lining for the Ringgit emerged from recent trade developments, with Malaysia successfully securing a reduced tariff rate of 19.0% from the previous 25.0%. This positive outcome is expected to bolster Malaysian equities and attract modest foreign inflows, providing some much-needed support for the Ringgit. Following the hawkish Federal Open Market Committee (FOMC) meeting, markets are now pricing in just a single rate cut this year. A weaker-than-expected US labor print, however, could trigger a 'dovish USD repricing' and potentially lift risk assets. The easing of tariff uncertainties is also expected to support Malaysia's growth outlook, helping to anchor the Ringgit near 4.25/USD in the week ahead. Technically, the USD/MYR pair is anticipated to hover near its 5-day Exponential Moving Average (EMA) of 4.26. With the pair approaching overbought territory, a short-term correction is plausible, with immediate support identified at 4.25. Related
Sinar Daily
26-06-2025
- Sinar Daily
Senior citizen with 39 housebreaking convictions arrested for resuming crime spree
The 60-year-old suspect, who is believed to have targeted unoccupied luxury homes, was detained at 3.10pm yesterday in an apartment in Taman Kesidang, Melaka. 26 Jun 2025 06:11pm Intelligence gathering and tip-offs led to the raid and subsequent arrest, during which police recovered various luxury items, including 19 designer handbags and watches. Photo for illustrative purposes only. TANGKAK - A repeat housebreaker with 39 prior convictions has been arrested for allegedly resuming his criminal activities in and around Tangkak. Tangkak police chief Supt Roslan Mohd Talib said the 60-year-old suspect, who is believed to have targeted unoccupied luxury homes, was detained at 3.10pm yesterday in an apartment in Taman Kesidang, Melaka. He said intelligence gathering and tip-offs led to the raid and subsequent arrest, during which police recovered various luxury items, including 19 designer handbags and watches. "Also seized were cash in multiple currencies, including Malaysian Ringgit, Singapore Dollar, US Dollar and Chinese Yuan, as well as tools believed to have been used in the burglaries, such as screwdrivers, gloves and flashlights. "Police also confiscated a Hyundai Getz car suspected of having been used in the commission of the crimes. The seized items are estimated at RM300,000," he said in a statement today. He added that with the suspect's arrest, police have successfully solved eight housebreaking cases reported since March in Bukit Gambir, Sungai Mati and Tangkak. The suspect tested negative for drugs and the case is being investigated under Section 457 of the Penal Code. - BERNAMA
The Star
26-06-2025
- The Star
QuickCheck: Was a thief nabbed in Melaka after breaking into at least eight homes?
HOUSE break-ins are a deeply unsettling occurrence, and as such any news of a serial thief being caught will spread quickly. It was claimed recently that the police nabbed a man in Tangkak, and it was also alleged that this man had broken into at least eight houses by the time he was caught. Is this true? VERDICT: TRUE A repeat housebreaker with 39 prior convictions has been arrested for allegedly resuming his criminal activities in and around Tangkak. Tangkak police chief Supt Roslan Mohd Talib said the 60-year-old suspect is believed to have targeted unoccupied luxury homes and added that he was detained at 3.10pm on Wednesday (June 25) in an apartment in Taman Kesidang, Melaka. He said intelligence gathering and tip-offs led to the raid and subsequent arrest, during which police recovered various luxury items, including 19 designer handbags and watches. "Also seized were cash in multiple currencies, including Malaysian Ringgit, Singapore Dollar, US Dollar and Chinese Yuan, as well as tools believed to have been used in the burglaries, such as screwdrivers, gloves and flashlights. Police also confiscated a Hyundai Getz car suspected of having been used in the commission of the crimes. The seized items are estimated at RM300,000," he said in a statement on Thursday (June 26). He added that with the suspect's arrest, police have successfully solved eight housebreaking cases reported since March in Bukit Gambir, Sungai Mati and Tangkak.
Yahoo
20-06-2025
- Business
- Yahoo
Ringgit May Trade in 4.24-4.27 Range Vs. Dollar Next Week
The Malaysian ringgit is expected to trade between 4.24 and 4.27 against the dollar next week, as rising geopolitical tensions and tariff uncertainty keep the dollar supported, Kenanga said.
The Sun
14-06-2025
- Business
- The Sun
Veteran newsman Yong dedicates HAWANA 2025 award to journalism fraternity
KUALA LUMPUR: HAWANA 2025 Award recipient Datuk Yong Soo Heong has dedicated the recognition to all those involved in journalism. Yong, who is also Malaysian Press Institute (MPI) president, said the award is a collective honour for all those who have guided and supported him throughout his career in the nation's media industry, rather than a recognition of his contribution alone. The former editor-in-chief and general manager of the Malaysian National News Agency (Bernama) also expressed hope that the national news agency would continue to uphold the highest standards and become a respected institution not only within Malaysia but globally. 'Bernama must be a respected news organisation, and its personnel must be more dynamic because ultimately, the staff are the backbone of the organisation. 'They need to work even harder to elevate Bernama's reputation. The production of credible and well-crafted stories is vital. We need to learn how to tell compelling stories to attract readers, viewers and listeners. That is what matters,' he said after receiving the award at the HAWANA 2025 highlight celebration at the World Trade Centre Kuala Lumpur (WTCKL) here today. The veteran newsman received the award from Prime Minister Datuk Seri Anwar Ibrahim, witnessed by Communications Minister Datuk Fahmi Fadzil and Bernama Chairman Datuk Seri Wong Chun Wai. Also present were Bernama chief executive officer Datin Paduka Nur-ul Afida Kamaludin, Bernama editor-in-chief Arul Rajoo Durar Raj, who is also HAWANA 2025 project director, and the top management of local media companies. Looking back on his career, Yong recalled serving as a business desk journalist at Bernama in 1991, during which he was specially selected to write an article aimed at stabilising the then-volatile stock market. In 1998, he appeared in a prime-time live interview on Radio Televisyen Malaysia (RTM) to speak on the implementation of currency control measures on the Malaysian Ringgit (RM). On the RM30 million allocation announced by the Prime Minister for digital transformation initiatives, Yong said the funds could be used by media agencies to upgrade staff skills and strengthen their ability to face evolving industry challenges. 'This is a positive injection (of funds) that can enhance the capabilities of local media agencies through training or advanced equipment to improve news delivery and strengthen operational efficiency,' he said. The HAWANA Award recognises and honours professional journalists, individuals or organisations that have made significant contributions not only in journalism but also in shaping public awareness through their work. The inaugural HAWANA Award was posthumously conferred to the Father of Independence and Malaysia's first Prime Minister, the late Tunku Abdul Rahman Putra Al-Haj in 2018, followed by the Karangkraf Group (2022), renowned cartoonist Datuk Lat (Datuk Mohd Nor Khalid) in 2023 and late veteran journalist James Alexander Ritchie, widely known as James Ritchie, in 2024.
