PETALING JAYA: All eyes are on Bank Negara’s gross domestic product (GDP) announcement today, with the odds stacked against the Malaysian economy for the second quarter of 2020 (2Q20). A double-digit economic contraction is highly expected in the April-June period, potentially worse than the 1997 Asian Financial Crisis. A Bloomberg poll of 20 economists expects […]
Read MoreKUALA LUMPUR – Malaysia’s gross domestic product (GDP) contracted 17.1 per cent year-on-year in the second quarter of 2020, compared to a marginal growth of 0.7 per cent in the first quarter, Bank Negara and the Department of Statistics announced on Friday (Aug 14). This is the worst performance in nearly 22 years when the […]
Read MoreKUALA LUMPUR: Malaysia’s economy shrank 17.1% in the second quarter ended June 30 as it was seriously impacted by the movement control orders, especially in April, which was a much deeper contraction compared with a Bloomberg survey of 10.9%. In a statement issued on Friday, the Statistics Department said the 2Q performance was the lowest […]
Read MoreKUALA LUMPUR: The ringgit retreated from the 4.18 level recorded yesterday ahead of the second quarter (Q2) gross domestic product (GDP) announcement later today and key trade talks between the United States and China meeting tomorrow. A 9.01 am, the local note was traded lower at 4.1940/2010 from 4.1880/1930 at Thursday’s close. AxiCorp chief global […]
Read MoreE-commerce Shopee has partnered with 20,000 small and medium-sized merchants to export locally produced goods to neighboring Malaysia and Singapore, the company announced on Wednesday. Shopee Indonesia public policy and government relations head Radityo Triatmojo said the platform promoted Indonesian products to Asian markets during the 2020 ASEAN Online Sales Day on Aug. 8. “Our export efforts […]
Read MoreKUALA LUMPUR: Mr DIY Group is reviving its initial public offering (IPO) plan after postponing it in March when the Covid-19 pandemic worsened, according to people with knowledge of the matter. The country’s biggest home improvement retailer aimed to restart marketing to gauge investors’ interest next month, the people said. The company aimed to raise […]
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