World

European Central Bank directors from Austria and Belgium support further interest rate increases to control inflation, currently at 8.5%. Despite recent banking sector uncertainties, the ECB raised rates by 50 basis points last Thursday, signaling continued commitment to price stability.

German Chancellor Olaf Scholz visits Japan to explore economic collaboration, emphasizing the need to reduce reliance on single markets following lessons learned from Ukraine conflict and COVID-19 pandemic. Both nations aim to strengthen economic security through diversified international partnerships.

Malaysia's exports increased 9.8% to RM112.28 billion in February 2023, with robust sales of petroleum products, electrical and electronic goods, and liquefied natural gas. Imports rose 12.4% to RM92.71 billion, resulting in a trade surplus of RM19.56 billion, a 7.9% increase from January.

RAM Ratings assesses that Malaysian banks maintain strong credit profiles despite Silicon Valley Bank's collapse. Domestic commercial banks demonstrate robust lending practices, with less than 25% of assets invested in bonds, indicating lower risk compared to US counterparts.

Silicon Valley Bank (SVB) Financial Group filed for Chapter 11 bankruptcy protection after its subsidiary was seized by US regulators. The move follows the bank's collapse, which marks the largest banking failure since Washington Mutual in 2008. Market uncertainty continues as major bank stocks experience declines.

SAN FRANCISCO: The failure of Silicon Valley Bank (SVB) has exposed differences within the typically close-knit venture capital (VC) industry. With some investors blaming...

Singapore bank stocks fell as concerns spread about Credit Suisse's financial stability. The Swiss bank's stock dropped 30% after its largest shareholder declined additional investment, triggering market anxiety about potential global banking sector risks.

Telekom Malaysia and ZTE Malaysia announce strategic collaboration to build a hybrid cloud 5G core network. The three-year partnership focuses on innovative technologies like software-defined networking, hardware acceleration, and advanced data transfer methods, potentially revolutionizing future technological applications.

Maybank introduces an integrated auto finance solution for electric and hybrid vehicle owners, offering comprehensive financing, insurance, and charging station access. The initiative aligns with the bank's sustainability goals and supports the government's vision of expanding the EV market in Malaysia.

KUALA LUMPUR: According to Moody’s Investors Service, Malaysia, Indonesia, and Turkiye will overtake Saudi Arabia. As the leading sovereign issuers in 2023–2024. Which had...