Business and Economics

Zuckerberg Loses $6 Billion in Hours as Facebook Plunges

Mark Zuckerberg’s personal wealth has fallen by more than $6 billion in a few hours, knocking him down a notch on the list of the world’s richest people, after a whistleblower came forward and outages took Facebook Inc.’s flagship products offline. A selloff sent the social-media giant’s stock plummeting 4.9% on Monday, adding to a drop …

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Global Debt Is Fast Approaching Record $300 Trillion – IIF

LONDON, Sept 14 (Reuters) – Global debt rose to a new record high of nearly $300 trillion in the second quarter, but the debt-to-GDP ratio declined for the first time since the start of the pandemic as economic growth rebounded, the Institute of International Finance (IIF) said on Tuesday. Total debt levels, which include government, …

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BNM Maintains OPR At 1.75%, Expects Easing Of Containment Measures, Vaccination Programme To Support Growth

KUALA LUMPUR (Sept 9): The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) has decided to maintain the overnight policy rate (OPR) at 1.75%, marking the seventh consecutive meeting in which the key policy rate is maintained. The rate was last adjusted following the July 7, 2020 MPC meeting, which saw a 0.25 basis …

BNM Maintains OPR At 1.75%, Expects Easing Of Containment Measures, Vaccination Programme To Support Growth Read More »

Fed Chair Race Spotlights Powell-Brainard Wall Street Rule Split

President Joe Biden’s choice of who will lead the Federal Reserve may come down to a debate about regulating Wall Street. Jerome Powell is viewed as the favorite to get the nod for another term leading the central bank, but progressive Democrats like Massachusetts Senator Elizabeth Warren and New York Representative Alexandria Ocasio-Cortez have lambasted the Republican …

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Goldman Sachs Raises Odds On U.S. Fed Taper Announcement In Nov

LONDON, Aug 24 (Reuters) – Goldman Sachs economists have raised the odds that the U.S. Federal Reserve will announce the start of tapering its bonds purchases in November, predicting the central bank will likely opt to dial back purchases by $15 billion then and at meetings that follow. In a note, the investment bank said …

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Fitch Unit Warns Of Stagnant Economy For Rest Of 2021, Cuts Malaysia’s GDP Growth Forecast To Zero

GEORGE TOWN, Aug 16 — Fitch Solutions has warned of a stagnant economy for the rest of 2021 after revising its gross domestic product (GDP) growth forecast for Malaysia in 2021 to zero per cent from 4.9 per cent. The research unit of Fitch Ratings revised the forecast after the release of real GDP figures …

Fitch Unit Warns Of Stagnant Economy For Rest Of 2021, Cuts Malaysia’s GDP Growth Forecast To Zero Read More »

Malaysia’s June CPI Rises 3.4% Y-O-Y, Slightly Below Forecast

KUALA LUMPUR (July 23): Malaysia’s consumer price index (CPI) rose by 3.4% in June, expanding from a year earlier, government data showed on Friday. Thirteen economists polled by Reuters had forecast the index to increase 3.5% year-on-year. The index in April rose at its fastest pace in four years. Transport cost, rising 16.6%, was the main driver …

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Banking, Telecoms And Healthcare Among Beneficiaries Of Economic Recovery

THE reimposition of the nationwide Movement Control Order (MCO) on June 1 has certainly weighed on the pace of the country’s economic recovery, which was just gathering speed when most activities were halted. The World Bank has slashed its GDP growth forecast for Malaysia this year, citing the resurgence in Covid-19 cases and slower-than-expected vaccine …

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