'OPR has minimal impact on Ringgit'
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KUALA LUMPUR: A status quo in Malaysia's key policy rate is not expected to adversely affect the ringgit, which has risen by nearly 0.5 per cent vis-a-vis the US dollar since early July.
Bank Negara Malaysia is set to update its key Overnight Policy Rate (OPR), which stands at 3.00 per cent currently, at 3pm today. The central bank is widely expected to stand pat as most of its Asian peers.
The strength or weakness of the ringgit is dependent on a myriad of factors, not mainly on the OPR, said economists.
Malaysia University of Science and Technology economist Dr Geoffrey Williams said as the OPR remains steady, he anticipates minimal impact on the value of the ringgit.
Williams said this stability is attributed to the fact that market expectations have already factored in the OPR's status quo, adding that the ringgit's recent fluctuations were influenced by familiar factors.
"The ongoing fluctuations in the ringgit's value are primarily driven by external elements, including the international geopolitical landscape, the appeal of the US dollar as a safe haven, and economic policies in foreign nations - factors largely beyond Malaysia's control," he told the New Straits Times.
Consumers to tighten belts over rising prices
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PETALING JAYA: Many Malaysian households are now indulging in mutton only occasionally due to the high prices these days.
“As Indians, we love mutton. But it’s costly these days, so I would buy it only once in a while,” said content manager, A. Siva, 42.
He said the price was usually about RM50 per kg, but it could go up to RM70, especially during Deepavali when the demand is high. At one point during the movement control order, he said the price even went up to RM83 per kg at a local market in his Subang Jaya neighbourhood, which he described as “shocking”.
To him, he felt that the price was rather arbitrary as the trader did not put it up on a price board. However, Siva acknowledged that prices for local mutton had always been higher than those imported from Australia or New Zealand.
“Local mutton is never frozen and there is a variation in terms of taste,” he said, adding that his family would opt for local or imported ones, depending on the need and occasion.
Homemaker Fazilah Kamal, 31, would only buy fresh mutton from the wet markets as she finds it more tender. It also takes less time to cook.
She said the average cost of lamb was around RM37 to RM40 per kg, but chops and shoulders were even more expensive as they tend to have more meat.
Barangan tempatan mampu harung kesan pengurangan AP, permit import, kata pakar
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PETALING JAYA: Barangan tempatan dipercayai tidak akan terjejas teruk sekalipun pengurangan permit diluluskan (AP) dan permit import (IP) membawa kepada lambakan barangan import yang lebih murah, menurut pakar ekonomi.
Ahmed Razman Abdul Latiff dari Putra Business School berkata barangan tempatan mampu bersaing dengan barangan import yang lebih murah kelak atas dua sebab utama iaitu tarikan harga dan keperluan pengguna.
“Majoriti barangan tempatan sudah sedia murah berbanding barangan import. Pada masa sama, permintaan terhadap barangan tempatan juga sentiasa tinggi,” katanya kepada FMT.
Kementerian Ekonomi sedang membangunkan satu kertas dasar untuk mengkaji dan mencadangkan kepada kerajaan pengurangan AP dan IP membabitkan keseluruhan sektor, bertujuan menurunkan harga barangan.
Read more: Barangan tempatan mampu harung kesan pengurangan AP, permit import, kata pakar
Rugi RM31,638.85 ditipu scammer emel saman polis
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SHAH ALAM – Hasrat seorang wanita melunaskan saman dikatakan sebanyak RM50 berkecai apabila dipedaya scammer sehingga kerugian RM31,638.85, baru-baru ini.
Ini selepas scammer menggunakan emel palsu dalam urusan pembayaran saman trafik PDRM.
Ketua Polis Selangor, Datuk Hussein Omar Khan berkata, mangsa berusia 37 tahun itu telah menerima satu emel menyatakan mempunyai satu rekod saman PDRM.
Katanya, emel tersebut turut menyertakan portal rasmi MyBayar PDRM untuk mangsa membuat semakan dengan wanita itu mendapati saman tersebut atas kenderaannya.
“Emel palsu tersebut kemudian memberi amaran supaya mangsa segera membuat bayaran saman tersebut atau tindakan selanjut akan diambil.
“Mangsa kemudiannya telah menekan pautan laman berkenaan palsu itu bagi pembayaran,” katanya dalam kenyataan hari ini.
Menurut beliau, mangsa juga telah mengisi butir-butir perbankan menerusi borang yang disediakan dalam pautan tersebut bagi pembayaran saman RM50.
Setelah butiran perbankan dimasukkan, transaksi bayaran tersebut telah gagal dengan skrin laman web palsu itu menyatakan nombor kod khidmat pesanan ringkas (SMS) yang diterima tidak sah.
“Mangsa hanya menyedari ditipu selepas menerima panggilan daripada pihak bank menyatakan wang daripada akaunnya dipindahkan sebanyak tiga kali berjumlah keseluruhan RM31, 638.85 dalam masa singkat ke akaun lain,” katanya.
GXBank receives approval from Bank Negara to commence operations
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KUALA LUMPUR: The Grab-led digital bank, GX Bank Bhd (GXBank) has completed an operational readiness review and has been approved to commence operations effective Sept 1, 2023, by the Minster of Finance and Bank Negara Malaysia (BNM).
The latest development makes GXBank the first of the five digital bank license applicants to receive approval, and it is ahead of the April 2024 deadline set by BNM.
In a statement, GXBank said it will leverage technology and innovation to serve the needs of the unserved and underserved individuals, and micro and small medium enterprises (MSME).
Additionally, the digital-only bank will support customers’ needs through various channels including a bank app and 24/7 customer support via multiple platforms.
“At GXBank, we are driven by our shared purpose and passion to bring positive transformation to the financial industry, starting with solutions to address the financial struggles of Malaysians and businesses.
Read more: GXBank receives approval from Bank Negara to commence operations
Rise of AI-based scams (Poll Inside)
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PETALING JAYA: Operators of dubious investment schemes are exploiting the buzz around artificial intelligence (AI), using it as a tempting facade to entice victims.
The new wave of fraud is being promoted by these operators, who claim their AI-backed schemes are almost fail-proof and a sure-fire way of making profits.
Raymon Ram, a criminologist who specialises in the field of financial forensics, said that with AI appearing as a symbol of advanced capability and promise, unscrupulous individuals are exploiting it to gain the trust of the public.
“We have seen AI-driven chatbots that are designed to replicate genuine human interactions and make scams appear more authentic.
“Then there are technologies such as deepfakes, which can craft extremely realistic videos and be misused to show prominent businessmen and celebrities supposedly endorsing these investment schemes.
MCMC working on regulations to address online harm, media ‘imbalance’
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PETALING JAYA: The Malaysian Communications and Multimedia Commission (MCMC) will follow Australia and Canada’s adoption of a digital regulation policy to address online harm and media imbalance.
MCMC said it held a meeting to address these challenges yesterday with the communications and digital ministry and online platforms Meta and Google.
“The ministry and MCMC are engaging in discussions with major online platforms, including Meta and Google, to establish a licensing and regulatory framework,” it said in a statement today.
The challenges include child sexual abuse material; online gambling; content on race, religion and royalty; scams and phishing; online trade of illegal drugs and substances; impersonation; and fake news.
Read more: MCMC working on regulations to address online harm, media ‘imbalance’
Experts warn of threat from ‘superbugs’ (Poll Inside)
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PETALING JAYA: Doctors and healthcare workers have turned to social media to warn Malaysians of the emerging antimicrobial resistance (AMR) or “superbugs” threat.
Among them is former deputy health director-general Datuk Dr Christopher Lee, who recently tweeted about the AMR global threat raised by Dr Giri Rajahram from the United States.
“Unless the world governments and citizens come together to address this holistically and strategically, AMR is another pandemic waiting to explode, and in some regions and countries, it already has,” Dr Lee said.
He agreed with Dr Giri’s observations that AMR is no longer a silent pandemic because doctors in many parts of the world, including Asia, deal with patients with difficult-to-treat multi-resistant organisms.
Dr Farhana Mohamad from Poliklinik Anna in Melaka, who lost a younger sibling due to AMR related to pneumonia in 2018, said antibiotics could be a cure or poison like all other medications if not taken according to indication.
Read more: Experts warn of threat from ‘superbugs’ (Poll Inside)
Malaysia Airlines: FAQ on meals taken out of context
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KUALA LUMPUR: Amid its catering chaos since last Friday, Malaysia Airlines has not asked its passengers to bring their own meals onboard its flights, people close to the national carrier said.
They said certain media had taken the frequently asked questions (FAQ) that Malaysia Airlines posted on its website on Aug 30 out of context.
"It (the FAQ) was taken out of context, especially for questions number 8 and 9. This does not mean that the airline would not provide (in-flight) meals to its passengers. It simply can't do that as the ticket purchased, whether it's one-way or return, includes the pricing for meals onboard the flight," an insider told the New Straits Times today.
"This is a full-service carrier (FSC) and a national carrier. It's not a budget airline where most of them don't allow passengers to bring their own meals because they sell their own food and beverages onboard their flights," the insider added.
Malaysia Airlines stated in its FAQ that "passengers may bring their own meals onboard subject to liquids, aerosols and gels (LAGs) requirements. LAGs must not exceed 100ml per the requirements for international passengers departing or transiting at international airports in Malaysia."
Read more: Malaysia Airlines: FAQ on meals taken out of context
Kenaikan harga beras import: Permintaan beras putih tempatan meningkat
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KUALA LUMPUR: Kenaikan harga beras putih import memberi manfaat kepada industri padi dan beras negara kerana ia telah mendorong peningkatan permintaaan pengguna kepada beras putih tempatan, kata Setiausaha Bahagian Pembangunan Industri Padi, Kementerian Pertanian dan Keterjaminan Makanan Datuk Azman Mahmood.
Beliau berkata kenaikan harga beras putih import di seluruh negara susulan penyelarasan harga yang dibuat oleh Padiberas Nasional Bhd (Bernas), menyebabkan pengguna kini lebih cenderung membeli beras putih tempatan yang dijual pada harga dikawal iaitu sekitar RM2.60 sekilogram atau RM26 sekampit.
"Bila harga beras putih import melonjak daripada RM33 kepada RM39, ia akan menjadi satu fenomena, semua orang akan mencari beras tempatan.
"Dahulu sekitar 2021, beras tempatan tiada pemintaan. Semua cari beras import sebab harga tidak jauh berbeza, sekarang (beza) RM26 dengan RM39. Semua akan fokus kepada beras tempatan terutamanya peniaga," katanya kepada Bernama ketika ditemui di pejabatnya di Putrajaya semalam.
Read more: Kenaikan harga beras import: Permintaan beras putih tempatan meningkat
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