The US expanded a ban on imports from China’s Xinjiang region, placing two more companies on its so-called entity list, the first additions since a law targeting forced labour in the area took effect a year ago.

Printing and imaging company Ninestar Corp and eight of its subsidiaries, as well as Xinjiang Zhongtai Chemical Co Ltd, were added to the list “for working with the government of Xinjiang to recruit, transport, transfer, harbor or receive forced labour” involving Uyghur and other ethnic minorities, the US Department of Homeland Security (DHS) said in a statement on Friday (June 9).

US expands China forced-labour embargo, banning two new firms

Egyptian inflation accelerated after a month-long respite, as a round of price increases by authorities fans pressures already building following three currency devaluations.

Consumer prices in urban parts of Egypt climbed an annual 32.7% in May from 30.6% the previous month, according to a statement on Saturday (June 10) from the state-run statistics agency CAPMAS. Food and beverage costs, the largest single component of the inflation basket, rose 60%.

Egypt’s inflation accelerates anew to stay above 30%

Datuk Shaik Abdul Rasheed Abdul Ghaffour is the right and most suitable candidate to be the leader of the nation’s central bank, said former Bank Negara Malaysia (BNM) governor Tan Sri Muhammad Ibrahim.

Abdul Rasheed the right, most suitable candidate to lead BNM, says ex-governor

The government’s effort to continue the subsidies and price controls for chicken and eggs proves that the proactive measures taken are timely to help the people, said Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub.

Decision to continue chicken, egg subsidies a proactive move to help the people, says Salahuddin

The latest upgrade in the global economic growth outlook for this year bodes well for Malaysia, and is set to contribute positively to the country’s trade performance, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Upward revision of global growth forecast a boon to Malaysia's trade, says Zafrul

The government will consider the "five seasons in two years" paddy cultivation initiative as one of the efforts to improve the country’s agro-food ecosystem.

The matter was decided in the Cabinet Committee on the National Food Security Policy (JKSMN) meeting No 1/2023 chaired by Prime Minister Datuk Seri Anwar Ibrahim on Friday (June 9).

Govt to consider 'five seasons in two years' paddy cultivation initiative — PMO

Cautious market sentiment is expected to influence the ringgit’s movement versus the US dollar next week, with external factors remain as the main culprit.

Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said investors would be closely monitoring the outcome of the US Federal Open Market Committee (FOMC) meeting, scheduled for next Tuesday (June 13) and Wednesday, which would signal further direction for the greenback.

Cautious sentiment ahead of Fed's FOMC meeting to weigh on ringgit

Foreign investors piling into Asian fixed income and stocks propelled emerging market portfolio inflows to US$10.4 billion in May, offsetting Chinese bonds suffering a third straight month of outflows, the Institute of International Finance (IIF) found.

Investors channel billions into emerging markets, but China drops again — IIF

The Association of Banks in Malaysia (ABM) has welcomed Datuk Shaik Abdul Rasheed Abdul Ghaffour's appointment as Bank Negara Malaysia’s (BNM) new governor, saying the banking industry will benefit from his experience "as we continue to progress and navigate through the winds".

Banking industry will continue to thrive under Abdul Rasheed’s leadership at BNM, says ABM

Bank of Japan (BOJ) officials see little need to adjust its yield curve control programme in a policy meeting next week, given improvement in the functioning of the bond market and the smooth shape of the yield curve, according to people familiar with the matter.

BOJ said to see little need to tweak yield curve control now

Most economists expect the Federal Reserve to pause interest-rate increases next week for the first time in 15 months and leave policy on hold through December, even as it confronts a resilient US economy and persistent inflation.

US Fed seen ending its 15-month hiking campaign in economist survey

The Department of Statistics Malaysia (DOSM) said the unit price index of cement rose by 1.3% month-on-month (m-o-m) in May 2023, on higher production, energy and shipping costs.

In a statement on Friday, DOSM said the average price of cement (ordinary Portland) rose 1.4% to RM22.81 per 50kg in May 2023 from RM22.50/50 kg in April 2023.

Cement unit price index rises 1.3% m-o-m, 7.8% y-o-y in May — DOSM

The government will extend the stamp duty exemption given to first-time homebuyers, according to the Ministry of Finance (MOF). 

The exemption will be given on the transfer of ownership and loan agreements under the Home Ownership Programme (HOPE), the ministry said in a statement on Friday (June 9).

Govt extends stamp duty exemption for first-time homebuyers — MOF

Investors poured money into cash and bonds in the week to Wednesday (June 7US), according to data from BofA Global Research, ahead of next week's pivotal central bank meetings from the Federal Reserve, European Central Bank and the Bank of Japan.

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