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December, 8, 2016

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Business > Asia > Malaysia
Anti-corruption protests sweep Asia
Anti-corruption protests sweep Asia
 
Malaysia's central bank is intervening in markets to support the beleaguered ringgit, an official said on Friday, as regional authorities grapple with a surging dollar.
 
Malaysia's economy expanded at a better-than-forecast pace in the third quarter, snapping five straight quarters of slowing, the central bank said on Friday.
 
Head and shoulders above the rest
An employee waits for customers at a hijab shop in Kuala Lumpur on Monday, Nov. 8.
 
Switzerland said Wednesday it had widened its probe into Malaysia's scandal-tainted state investment fund, 1MDB, with transactions worth US$800 million under scrutiny and evidence pointing to fraud through "a Ponzi scheme."
 
Malaysia's state energy firm Petronas said Monday profits plunged 85 percent in the second quarter due to low oil prices, adding to concerns about the country's slowing economy.
 
Malaysia's economic growth eased in the second quarter, the central bank said Friday, attributing the slowdown to a decline in exports amid subdued global demand.
 
Malaysia, Singapore team up on bullet-train project
Malaysia and Singapore signed an agreement Tuesday to pursue an ambitious high-speed rail link touted as a first for Southeast Asia that would knit the historically fractious neighbors more closely together.
 
Malaysia's economy expanded in the first quarter at its slowest rate since the global financial crisis, data showed Friday, as the energy-exporting country grapples with falling oil prices and weak overseas demand.
 
Malaysia's government has approved a bailout package of 1.5 billion ringgit (US$384 million) to help struggling national car maker Proton help pay its debts, amid poor sales and heavy losses.
 
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