KUALA LUMPUR, July 13 — The ringgit remained bullish against the US dollar for the third consecutive day, with United States (US) inflation data being the main catalyst for today’s performance.

KUALA LUMPUR, July 13 — The current ringgit rate would offer a competitive advantage for Malaysia’s exports to the United Kingdom (UK), besides boosting the local tourism industry, said analysts.

KUALA LUMPUR, July 13 — Maybank Investment Bank is cautiously optimistic about improved market traction over the second half of the year (2H 2023) despite mixed earnings guidance while the ringgit is expected to see a positive reversal in the fourth quarter as China’s economy stabilises.

KUALA LUMPUR, July 13 — The current cost headwinds in the construction sector remain manageable with softening steel bar prices and a slower increase in cement prices, said MIDF Amanah Investment Bank Bhd.

KUALA LUMPUR, July 13 — MIDF Research foresees the ringgit to benefit slightly from the easing inflation rate in the United States (US) and expects the local note to appreciate gradually in the second half of 2023 (2H 2023), as chances of a rate pause rise.

KUALA LUMPUR, July 13 — The ringgit extended its positive run against the US dollar today as the greenback weakened due to the lower-than-expected United States Consumer Price Index (US CPI) data in June 2023.

KUALA LUMPUR, July 12 — The ringgit closed slightly higher against the US dollar with market sentiment sanguine over the United States inflation data tonight.

KUALA LUMPUR, July 12 — The retail prices of RON97 and RON95 petrol, as well as diesel, will remain unchanged for the July 13 to July 19 period, the Ministry of Finance (MOF) said.

KUALA LUMPUR, July 12 — Malaysia's Industrial Production Index (IPI) rebounded to 4.7 per cent in May 2023 as against negative 3.3 per cent recorded in the previous month, driven by positive momentum in all sectors, according to the Department of Statistics Malaysia (DOSM).

KUALA LUMPUR, July 12 — Malaysia’s wholesale and retail trade recorded a monthly sales value of RM138.0 billion, growing 6.6 per cent year-on-year (y-o-y) in May 2023, said the Department of Statistics Malaysia (DOSM).

KUALA LUMPUR, July 12 — The manufacturing sector’s sales value has returned to positive, recording 3.3 per cent growth year-on-year to RM146.8 billion in May this year, bolstered by the strong growth in among others, transport equipment and other manufacturers, non-metallic mineral products and electric and electronics products, according to the Department of Statistics Malaysia.

KUALA LUMPUR, July 12 — BMI, a Fitch Solutions company, foresees Malaysia’s household spending to grow by 5.0 per cent year-on-year (y-o-y) in 2023 and will continue its steady growth towards 2024 as the economic recovery feeds through into strong real consumer spending growth.

KUALA LUMPUR, July 12 — The ringgit appreciated against the US dollar at the opening today, supported by rising oil prices and strong demand from China for Malaysia’s main commodities, particularly oil, said an analyst.

KUALA LUMPUR, July 11 — Growth stability is attributable to solid consumption and strong investment flows and Malaysia is one of the Asean countries driving regional growth, said an economist.

KUALA LUMPUR, July 11 — The ringgit closed higher against the US dollar as investors await more clues on the pace of inflation in the United States (US) from the Consumer Price Index (CPI) tomorrow.

KUALA LUMPUR, July 11 — The Payung Rahmah initiative carried out by the Ministry of Domestic Trade and Cost of Living (KPDN) has proven to be successful in stabilising inflation at a low level.

KUALA LUMPUR, July 11 — Malaysia’s economic growth is projected to hit 4.2 per cent in 2023, an expected moderation after registering a strong growth of 8.7 per cent last year, said the Asean+3 Macroeconomic Research Office (AMRO).

KUALA LUMPUR, July 11 — The government has given assurance that the prices of essential goods, especially subsidised items, will not see an extreme rise this year.

BENGALURU, July 11 — China’s Geely Automobile Holdings and French car maker Renault SA today said they will invest up to €7 billion (RM35.92 billion) in a new equally held joint venture (JV) to develop gasoline engines and hybrid technology for automobiles.

KUALA LUMPUR, July 11 — The price index per unit of steel decreased between 0.6 per cent and 2.3 per cent month-on-month in June 2023 for almost all areas of Peninsular Malaysia and Sabah, said the Department of Statistics Malaysia (DOSM).