Malaysia Financial News

Read here: Exit polls, GDP data, F&O expiry, auto sales to guide market direction this week The agency also noted that GDP exceeded the 2019 level by 15.5 percent in India in the first half of the current fiscal. Also, fixed investment has recovered considerably more than private consumer spending, it added. S&P also believes that it will take some time for India's interest rate cycle to turn as the headline inflation still remains above the RBI's target of 4 percent.

Thailand, and Sri Lanka, now Malaysia has declared that they will scrap entry visa requirements for citizens of India visiting the nation beginning 1 December, according to Prime Minister Anwar Ibrahim. The move comes as the nation looks to boost its tourism industry and Indians and Chinese form the largest chunk of tourists all over the world.

Malaysia will scrap entry visa requirements for Indian citizens visiting the nation beginning December 1, Bloomberg reported, citing Prime Minister Anwar Ibrahim. Indian nationals may stay for up to 30 days visa-free, Anwar said in a speech at his People’s Justice Party’s annual congress in Putrajaya on Sunday. However, Indian nationals would be subject to security screening, he added. Along with Indian citizens, Chinese nationals will also be allowed visa-free entry from December 1, the prime minister said. Malaysia is counting on extra tourist arrivals — and their spending — to support economic growth. Anwar last month announced plans to improve visa facilities next year to encourage the entry of tourists and investors, “especially from India and China.” Malaysia will scrap entry visa requirements for citizens of China and India visiting the nation beginning Dec. 1, according to Prime Minister Anwar Ibrahim. Chinese and Indian nationals may stay for up to 30 days visa-free, Anwar said in a speech at his People’s Justice Party’s annual congress in Putrajaya on Sunday. This would be subject to security screening, he added.

Think-tank GTRI on Sunday suggested that the government study the bilateral free trade agreement with Singapore and as part of the Asean bloc together while reviewing its trade pact with the 10-nation grouping.Singapore is a member of 10-nation Asean bloc with which India has a free trade agreement in goods since 2010. Separately, India also implemented a comprehensive free trade agreement (FTA) with Singapore in 2005.The Global Trade Research Initiative (GTRI) also suggested a similar exercise with Thailand, another member of Association of Southeast Asian Nations (Asean). India signed a limited free trade pact with Thailand in 2006.

China and the United States exchanged accusations at the weekend over the disputed South China Sea, after China's military said it had driven away a U.S. warship that the U.S.

Hu Ling made history on Saturday as the first Chinese film star to grace the red carpet of Taiwan's Golden Horse Awards since 2019. During that year, China had boycotted the prestigious awards show due to political tensions surrounding Taiwan's status as a self-ruled island.

China has announced that it will allow visa-free entry for citizens of five European countries and Malaysia as it tries to encourage more people to visit for business and tourism

rising prices and as refiners face negative margins after making heavy imports in the past few months, industry officials told Reuters on Thursday. Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures which are trading near their highest in level in two months. «Traders are attempting to liquidate stocks accumulated at ports due to aggressive imports in recent months,» Rajesh Patel, managing partner at edible oil trader and broker GGN Research told Reuters. «Currently, there's no import parity. Older imported stocks are being offered at lower prices compared to the price of new shipments.» The landed cost of crude palm oil for December shipments on the west coast without import taxes is 77,500 rupees per metric ton, whereas already imported oil is being offered at 76,500 rupees, traders said. Higher imports during July to September lifted vegetable oil stocks in India to 3.3 million tons on Nov.

Unicommerce saw its operating revenue jump 52.5% to Rs 90 crore in financial year 2023 from Rs 59 crore in FY22. Net profit rose 8% to Rs 6.45 crore from Rs 5.98 crore in FY22, according to its financial statements, filed with the Registrar of Companies (RoC). Unicommerce’s expenses ballooned to Rs 84.1 crore in FY23 from 54.4 crore in FY22. A significant amount of the expenditure was attributed to an increase in employee benefit expenses, server costs and other expenses.

Philippines are conducting joint air and maritime patrols in the South China Sea, which come as the two countries step up cooperation in the face of growingly aggressive Chinese activity in the area. The Philippine Air Force said Wednesday its aircraft had taken part in joint patrols on Tuesday in the vicinity of Batanes, the northernmost province of the Philippines, which is only about 200 kilometers (125 miles) from Taiwan, a self-governed island that China claims as its own. The patrols run through Thursday and also include both the U.S. and Philippine navies.

Indian tourists visited Singapore in October, up from 81,014 in the preceding month, according to a media report on Tuesday. India was rated as a third tourist-generating market for Singapore, overtaking Malaysia and Australia. «A total of 94,332 Indian tourists visited Singapore in October, up from 81,014 in the preceding month.

According to its June 2023 factsheet, the fund had been underperforming for a few years, although had mostly tracked its benchmark.

The bakong, a digital currency operated by the National Bank of Cambodia (NBC), will provide users with access to the Alipay merchant network and enable cross-border transactions on Alipay+ using QR codes under a memorandum of understanding (MoU) signed at the FinTech Expo in Singapore, the local press reported.

By Jamie McGeever

technology ecosystems and learning resources, including in local languages. During the second edition of the Voice of Global South Summit, hosted by India, the ministers underlined the central role of teachers and education staff all over the world in promoting education and the need to foster an environment, including through capacity building and exchange programmes, that will enable them to thrive in their profession.

KUALA LUMPUR (Reuters) — Malaysia's economy grew 3.3% in the third quarter from a year earlier, above expectations and recovering from two-year lows in the previous quarter, as strong private consumption offset weak exports, the government and central bank said on Friday.

Investing.com-- Most Asian currencies weakened on Thursday, tracking a recovery in the dollar as stronger-than-expected U.S. retail sales data brewed some uncertainty over the path of interest rates. 

rupee logged its best single-day performance in nearly two months on Wednesday, bolstered by hopes the U.S. Federal Reserve would ease policy rates next year. The rupee closed at 83.1425 against the U.S.

Mid-market stockbroker Petra Capital has lured Nick Burmester from Canaccord Genuity’s London offices to its ranks, just as it signs a joint venture with CGS-CIMB Securities to expand into Asia.

Thailand is pitching a multibillion-dollar project that will significantly cut shipping times between the Indian and Pacific oceans by bypassing the Malacca Strait— one of the world’s busiest sea lanes. Prime Minister Srettha Thavisin told investors in San Francisco on Monday that the project can cut travel time by an average of four days and lower shipping costs by 15%. With traffic volumes projected to exceed the Malacca Strait’s capacity by 2030, the new project will ensure seamless flow of goods, he said. The so-called Landbridge project will cost about 1 trillion baht ($28 billion), with seaports to be built on either side of the country’s southern peninsula and linked by highway and rail networks, according to the government.

India voted in favour of five resolutions relating to the situation in the Middle East, including one that condemned Israeli settlement activities in the Occupied Palestinian Territory, and abstained on one resolution. The Fourth Committee (Special Political and Decolonization) of the UN General Assembly approved six draft resolutions on November 9 all by recorded votes, relating to the situation in the Middle East, including the Palestinian question.