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- Qatar announces 2026 budget with 5% rise in projected expenditure
- QSE index closes higher
- QCB lowers current interest rates
- Zain scoops two major global awards
- Batelco by Beyon unveils new 'Ultra Home' internet package
- Agility Global Bengaluru logistics park earns EDGE 'Green Building' status
- Nasdaq Dubai welcomes $50bn note programme of BRICS' NDB
- Asian investors flock to Gulf debt in hunt for yield
- ADCB completes $1.66bn rights issue
- UK firm acquires stakes in Oman's Block 9 and Blocks 3 & 4 for $148mn
30/04/2011 00:00 AST
The ringgit, which has remained firm at 2.96 per US dollar, is likely to extend its present uptrend next week.
A dealer said the ringgit was able to stay above the 3.00 mark due to continuous weakening of the US dollar and high commodity prices fueling speculation that policy makers in Asia would step up tightening efforts.
"With the speculation that Asian central banks will raise interest rates and US dollar remaining weak, ringgit will stay firm depending on Bank Negara Malaysia's stance," he said.
Such expectations would attract foreign funds seeking higher returns from the widening interest rate differentials between Malaysia and developed nations, especially the US which has keep rates low for an extended period.
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Business Times
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
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The US Federal Reserve lowered its benchmark rate on Wednesday, sending borrowing costs to the lowest in almost three years.
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Egypt's Suez Canal recorded revenues of $1.97 billion from 5,874 ship transits since the beginning of July, marking a 17.5 percent year-on-year increase, Suez Canal Authority Chairman Osama Rabie sai
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Financial Information Co.
Saudi Arabia