KUALA LUMPUR, May 12 — Revenue for the services sector in the country soared 10.4 per cent to RM473.0 billion in the first quarter (Q1) of 2022 from RM428.5 billion in Q1 2021, the Department of Statistics Malaysia (DOSM) said.

KUALA LUMPUR, May 12 — The earlier-than-anticipated 25-basis-point (bps) increase in the overnight policy rate (OPR) to 2.0 per cent was viewed by research firms as having no impact on banks’ loan growth, though short-term volatility is anticipated.

KUALA LUMPUR, May 12 — The ringgit reversed yesterday’s gains to open slightly lower against the US dollar this morning as sentiment for the greenback strengthened, an economist said.

KUALA LUMPUR, May 12 — The government needs to regulate the rise in prices of goods to mitigate inflation risks, said an economist.

PUTRAJAYA, May 11 — The cooking oil that is reported to have experienced a price hike of up to RM10 for a five kg bottle is not regulated under the Price Control and Anti-Profiteering Act (AKHAP) 2011 as it is categorised as blended cooking oil.

KUALA LUMPUR, May 11 — Maybank will revise upwards its base rate (BR) and base lending rate (BLR) by 25 basis points effective May 13, 2022, following the announcement today on the overnight policy rate (OPR) increase.

KUALA LUMPUR, May 11 — The ringgit ended higher for the second straight session today against the US dollar on continued buying interest after an unexpected interest rate hike by the central bank and on anticipation of a better first-quarter gross domestic product (GDP) result, said an analyst.

PUTRAJAYA, May 11 — Malaysia’s labour market rebounded in the first quarter of 2022, adding 148,520 jobs compared to the same quarter of the preceding year to record 8.57 million jobs, while the quarter-on-quarter basis increased by 41,400 jobs, said Chief Statistician Datuk Seri Mohd Uzir Mahidin.

PADANG BESAR, May 11 — The Ministry of Agriculture and Food Industries (Mafi) has set a target to reduce livestock feed imports by 30 per cent by the year 2030 through its Grain Corn Industry Development Project.

KUALA LUMPUR, May 11 — Bank Negara Malaysia (BNM) has increased the Overnight Policy Rate (OPR) by 25 basis points to 2.00 per cent at its third Monetary Policy Committee (MPC) meeting this year.

KUALA LUMPUR, May 11 — The value of construction work done in the first quarter (Q1) of 2022 contracted 6.1 per cent on a year-on-year basis to RM29.5 billion, the Department of Statistics Malaysia (DOSM) said.

BENGALURU, May 11 — Malaysia's economic growth likely gathered pace in the last quarter, driven by stronger demand following a relaxation of Covid-19 measures, but a prolonged slowdown in China could have significant knock-on effects, a Reuters poll found.

MUMBAI/KUALA LUMPUR, May 11 — Indonesia's "unpredictable" palm oil export policies may help Malaysia emerge as the dominant supplier to India, the world's top buyer of the edible oil, industry sources said.

KUALA LUMPUR, May 11 — Malaysia’s natural rubber production decreased marginally by 2.7 per cent to 28,030 tonnes in March 2022 compared with February's 28,817 tonnes, said the Department of Statistics Malaysia (DOSM).

KUALA LUMPUR, May 11 — The Building Material Cost Index (BCI) without steel bars and with steel bars has increased for all building categories between 0.1 and 3.6 per cent in April 2022 with Peninsular Malaysia between 0.6 and 3.4 per cent, Sabah between 0.1 and 2.4 per cent and Sarawak between 0.8 and 3.6 per cent, said the Department of Statistics Malaysia (DOSM).

KUALA LUMPUR, May 11 — The current high inflation will cause significant but temporary credit effects in many countries, as the actions of central banks will help push inflation lower next year, and ease further in 2024 with economic growth recovering towards trend, Moody’s Investors Service said in a report.

KUALA LUMPUR, May 11 — The ringgit turned slightly lower against the US dollar today amid cautious sentiment ahead of Bank Negara Malaysia’s (BNM) interest rate decision later today, an analyst said.

BENGALURU, May 11 — Malaysia's economic growth likely gathered pace in the last quarter, driven by stronger demand following a relaxation of Covid-19 measures, but a prolonged slowdown in China could have significant knock-on effects, a Reuters poll found.

KUALA LUMPUR, May 10 — The ringgit rebounded from two straight days of losses to end marginally higher against the US dollar today on renewed buying interest, said an analyst.

KUALA LUMPUR, May 10 — Malaysia's palm oil exports amounted to RM7.5 billion in March 2022, with Sabah recording the highest at RM1.8 billion (23.5 per cent), followed by Johor (RM1.7 billion, 23.1 per cent) and Sarawak (RM1.5 billion, 20.3 per cent), the Department of Statistics Malaysia (DOSM) said.