tags - Sinar Daily

Bank Negara Malaysia’s announcement that the economy is no longer in crisis and continues to gain strength is a big lift to sentiment three years since the outbreak of the pandemic.

(FILES) Turkey's Chairman of Homeland (Memleket) Party Muharrem Ince makes a statement after applying for the Presidency candidacy to the Supreme Election Board (YSK) in Ankara on March 20, 2023. Third-party candidate Muharrem Ince on May 11, 1023, withdrew from Turkey's tight presidential election in a shock move that raised the chances of an opposition first-round victory. The 59-year-old announced his decision after being targeted by an online smear campaign that included doctored images of him meeting women and riding around in fancy cars. (Photo by Adem ALTAN / AFP)

Malaysia ranked third in The Economist magazine's latest crony capitalism index - FILEPIC

The ringgit snapped its three-day losing streak to open higher against the US dollar in the early session today as the greenback softened following a lower-than-expected US April CPI data released last night.

Swedish telecommunications giant Ericsson was appointed as the 5G vendor by Digital Nasional Bhd (DNB) with contracts worth RM11 billion after a three-month tender process. According to DNB, Ericsson was picked out of four players and their estimated cost was around RM700 million lower than the next closest bid.

U.S. Sen. Elizabeth Warren (D-MA) talks to reporters at the U.S. Capitol on May 02, 2023 in Washington, DC. - Photo by Kevin Dietsch / GETTY IMAGES NORTH AMERICA / Getty Images via AFP

The ringgit opened higher against the US dollar on Friday, buoyed by the increase in OPR to 3.00 per cent, but the ringgit-dollar pair is projected to trade in a narrow range as risk-off mode leads to increased demand for the greenback.

BNM has raised the OPR by 25 basis points to 3.00 percent.

Cuepacs has proposed to shorten the service period of contract civil servants for permanent employment from 15 to 10 years. Picture for illustrational purpose.

Photo for illustrative purposes. (Smaller image, Economist Professor Tan Sri Dr Noor Azlan Ghazali)