PETALING JAYA: Bank Negara Malaysia (BNM) has been urged not to further increase its overnight policy rate (OPR) as past efforts had little effect in quelling growing inflationary pressures. In a statement, former finance minister Lim Guan Eng said raising the OPR would instead adversely affect the people’s socio-economic wellbeing, the domestic investment climate and […]
Read MoreThe baht opened at 36.51 to the US dollar on Tuesday, strengthening from Monday’s close of 36.56. The currency is expected to move between 36.40 and 36.60 during the day, Krungthai Bank market strategist Poon Panichpibool predicted. He said the baht is highly volatile amid concerns over Europe’s energy crisis, which is pressuring the euro […]
Read MoreVIENNA, Austria — The OPEC+ oil cartel agreed Monday to cut production for the first time in more than a year as it seeks to lift prices that have tumbled due to recession fears. The move could irk the United States as it has pressed the group to increase output in order to bring down […]
Read MoreBusiness sentiment continues to improve with 57% of respondents predicting that output will increase over the coming 12 months, against 9% that expected a decrease. Vietnam’s Manufacturing Purchasing Managers’ Index (PMI) posted 52.7 in August, up from 51.2 in July and signaling a solid improvement in the health of the manufacturing sector midway through the […]
Read MoreMANILA, Philippines — The peso’s weakness persisted yesterday, momentarily touching the 57 to $1 barrier before closing at an all-time low of 56.999, 22.9 centavos lower than the previous record low of 56.77 on Friday. The local currency opened weaker at 56.85 and hit an intraday high of 56.80 before losing steam to touch an […]
Read MoreLabour Minister Suchart Chomklin said on Tuesday that he will ask the Cabinet to approve the new daily minimum wage rates next week so they can go into effect on October 1. He said if approved, unskilled labourers should get an average daily wage hike of 5.02 per cent instead of the 8 per cent […]
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Thailand
