Tag: Economy

Bank Negara Malaysia has released an exposure draft outlining licensing and regulatory guidelines for Digital Insurers and Takaful Operators (DITOs). The proposed framework aims to facilitate market entry, promote competition, and provide value-driven insurance solutions while ensuring sustainable business practices and policyholder benefits.

The first session of Malaysia's 15th Parliament will focus on approving civil servant emoluments and discussing Budget 2023. Prime Minister Anwar Ibrahim announced plans to table a new or revised budget within a month, marking a significant start to his administration's parliamentary agenda.

S&P Global Ratings predicts Malaysian banks will maintain loan growth between 5-6% in 2023, supported by a stable economy. The banking sector shows resilience with strong capitalization, 1.8% provisioning buffers, and a 14.3% common equity Tier 1 ratio, enabling banks to withstand potential asset quality pressures.

Brunei has performed exceptionally well in business and labor market regulations, securing top global rankings in the Fraser Institute's Economic Freedom Index. The Sultanate scored 8.8 out of 10 in regulations, ranking fourth globally in labor market regulation and eighth in business regulation.

AmBank has formed a strategic two-year partnership with Persatuan Usahawan Maju Malaysian (PUMM), aiming to support over 3,000 business owners across various sectors. The collaboration focuses on enhancing financial literacy, providing financing access, and offering business optimization tools to help SMEs thrive.

Malaysia's economy remains robust due to its diversified sectors, with services contributing 57% and manufacturing 24.3%. The country's reduced dependence on commodities and varied trading partners provide economic resilience against potential downturns.

The Hong Kong Special Administrative Region government celebrates its top ranking in the Economic Freedom of the World 2022 Annual Report. The Fraser Institute highlighted Hong Kong's continued leadership in "Freedom to Trade Internationally" and commitment to maintaining an efficient, open market environment.

Malaysia's franchise sector is experiencing rapid growth, with sales expected to reach RM22.66 billion by 2025. The industry currently has 1,149 registered franchisers and 13,779 outlets, creating approximately 49,000 jobs nationwide. Prime Minister Ismail Sabri Yaakob highlights the sector's potential for job creation and international brand expansion.

Asian stock markets show mixed performance ahead of crucial US employment data. Investors are closely watching August job figures that could influence Federal Reserve's monetary policy and interest rate strategy amid high inflation concerns. Shanghai and Seoul saw gains, while Tokyo and Hong Kong experienced declines.

Standard Chartered Malaysia introduces SmartStocks, a revolutionary online share trading platform allowing Malaysian investors to trade across 12 exchanges in seven global markets through a single account. The platform offers competitive brokerage rates, addressing challenges faced by retail investors seeking international market access.