It was late 1971 and developing nations had been complaining vehemently about how the US dollar’s dominance and appreciation was hurting them. Responding to these complaints, then US treasury secretary John Connally shocked the world when he famously said, “The dollar is our currency, but it’s your problem”.

MySay: Higher-for-longer US interest rates imply lower-for-longer Asian currencies

At a basic level, a nation’s economy is really made up of two parts, the real sector and the financial sector. The real sector constitutes all of a nation’s production capabilities, which then results in the nation’s production of goods and services. The financial sector, which consists of the ba...

My Say: Bitcoin ETFs: Another case of unchecked financialisation that could end in tears for all

The Covid-19 pandemic may have necessitated huge deficit spending by governments, but even as the pandemic has ebbed, global debt has continued to balloon. Now totalling US$307 trillion (RM1.4 quadrillion), global debt is 336% of world gross domestic product, having increased by US$100 trillion i...

My Say: In a level playing field, risk-sharing contracts of Islamic finance can be a game changer

There was a time in the 1960s when, following many years of very impressive growth, the bet was on the Soviet Union overtaking the US to become the world’s largest economy. But Soviet central planning could never deliver the goods and so the USSR fell behind economically and later disintegrated p...

My Say: China needs to avoid being the next Japan

Of late there has been much hand wringing about the performance of the Malaysian ringgit. The ringgit’s depreciation has been steady and sustained against several key currencies, in particular the US dollar. Indeed, there is cause for concern as exchange rates do matter for the long-term well-bei...

My Say: Exchange rates matter for long-term wage growth, productivity and national well-being

De-dollarising seems to be in vogue these days. China, Russia and their BRICS (Brazil, Russia, India, China and South Africa) partners may have initiated the narrative but the desire to remove or at least reduce the US dollar’s hegemony has spread. Many nations, including Malaysia, have openly ar...

My Say: Regional currency arrangements come with huge challenges

What a month March had been. Over a three-week period, four mid-size US banks had to be rescued and one large Swiss bank had to be folded into another. Meanwhile, a German bank had to suffer serious erosion of its equity value.

My Say: The Fed dodges a bullet — for now

It was the Ricardian theory of comparative advantage that provided the rationale for why nations should trade among themselves and how it can be beneficial to all. Steady growth in trade led to increased economic integration between countries and the resulting globalisation. 

The p...

My Say: Widening distrust of globalisation could herald economic fragmentation

For at least the last two decades, a presence in China was seen by Western firms as a distinct competitive advantage over their peers. Now, all that seems to be changing. American and European suspicion of China has been rising as China seeks to control its technological destiny. For as long as C...

My Say: Emerging markets can benefit as the West decouples from China

After years of repressed interest rates and ultra-loose monetary policies, central banks of the developed world appear to have been jolted out of their auto-pilot mode. These last few months, the same banks have done a 180° policy reversal with synchronous interest rate hikes to fight inflation. ...

My Say: Transitioning from irrational money will not be painless

Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.

Slowing inflation primes G7 central banks for June

China is prepared to take countermeasures against the European Union if it continues a series of anti-subsidy investigations into Chinese companies, according to a post on a state-media affiliated social media account.

China state media warns of retaliation on EU subsidy probes

Republican presidential candidate Donald Trump pledged to unravel gun regulations put in place by Democratic President Joe Biden during a lengthy speech to the National Rifle Association on Saturday, during which he accepted the influential group's endorsement.

Trump pledges to 'roll back' Biden gun rules, fire ATF chief at NRA rally

Israeli war cabinet minister Benny Gantz demanded on Saturday that Prime Minister Benjamin Netanyahu commit to an agreed vision for the Gaza conflict that would include stipulating who might rule the territory after the war with Hamas.

Israel's Gantz demands Gaza day-after plan by June 8, threatens to quit cabinet

OSK Property Holdings Bhd, the property arm of OSK Holdings Bhd (KL:OSK), has been focusing on expanding its land bank and has lined up projects to the tune of RM1.7 billion in gross development value for 2024.

Expanding OSK Property’s footprint

The thing with addiction is that you don’t know when it’s becoming a problem. You don’t really realise you have a problem or are in dire need of help. It’s very rare that people willingly seek support to overcome their addictions,” says Prof Dr Prem Kumar Shanmugam, founder and CEO of Solace Asia, Malaysia’s premier private rehabilitation centre.

Quantum of solace

Liverpool's outgoing manager Jurgen Klopp has never been one for social media but he took the plunge on Saturday ahead of his final game in charge, instantly becoming an Instagram hit when he racked up a million followers.

Klopp earns a million Instagram followers within hours

Ukraine said Russian shelling targeted civilians in two cities in the northeastern region of Kharkiv on Saturday while President Volodymyr Zelenskiy reported successes by troops fighting a renewed Russian assault there.

Ukraine says Russian shelling targets civilians in Kharkiv region

After guiding Chelsea to the Women's Super League title for the seventh time, Emma Hayes is a woman with just one job.

After one last Chelsea title, Emma Hayes now focused on USWNT

Police have identified the male suspect who attacked the Ulu Tiram police station on Friday and confirmed that he has no links to any terrorist groups.

Inspector-General of Police Tan Sri Razarudin Husain clarified that the initial statement of the suspect being a member of Jemaah Islamiyah (JI) was based on his father's involvement with the terrorist group.

IGP: Suspect in Ulu Tiram police station attack not linked to terrorist group

From New York to London to Tokyo, if there’s one similarity among the world’s equity markets it’s this: record highs.

Of the world’s 20 largest stock markets, 14 have hit all-time highs recently.

From Tokyo to New York, stock markets are on a record-hitting spree around the world

Police have identified the male suspect who attacked the Ulu Tiram police station on Friday and confirmed that he has no links to any terrorist groups.

Inspector-General of Police Tan Sri Razarudin Husain clarified that the initial statement of the suspect being a member of Jemaah Islamiyah (JI) was based on his father's involvement with the terrorist group.