Malaysia not on verge of bankruptcy: Finance Minister
The statement was issued after some claimed on social media that Malaysia is set to follow the footsteps of Sri Lanka, which was recently declared as bankrupt.
Economy
IMF says staff-level agreement reached with Pakistan for release of $1.17 billion loan tranche
Pakistan entered the IMF programme in 2019, but only half the funds have been disbursed to date as Islamabad has struggled to keep targets on track.
In address to nation, PM Shehbaz announces reduction in fuel prices
PM Shehbaz also indicated that the benefit of any further decline in global oil price will also be passed to the public.
Philippine central bank hikes rates for third straight month
Overnight deposit and lending facilities were increased by the same amount to 2.75 per cent and 3.75 per cent respectively.
Ringgit at 27-month low amid US recession worries
The local unit was traded mostly lower against a basket of major currencies.
China sees growth in summer grain harvest
China's total grain output reached 147.39 million tonnes in this year's summer harvest, up 1.434 million tonnes from last year.
Inflation to remain ‘manageable’: National Bank of Cambodia
The central bank said that the exchange rate between the local currency and US dollar “remains stable, which helps to boost purchasing power and reduce impact from increasing…
Indonesia temporarily halts sending migrant workers to Malaysia
The freeze is the latest blow for Malaysia, which is facing a shortage of some 1.2 million workers that could derail its economic recovery.
China’s cross-border e-commerce speeds up development
The import and export of the country's cross-border e-commerce increased nearly ten times in five years, making it a new driving force for foreign trade development.
Indonesia calls for Russian, Ukrainian goods reintegration in global markets
Ever since the war in Ukraine started, the United States and its allies have been imposing economic sanctions on Russia as a means to grind the latter's war capability down.