KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Egypt is conducting a comprehensive survey to evaluate the impact of its sweeping economic reforms on its population, working closely with the International Monetary Fund (IMF) to ensure the most vulnerable are protected, according to the IMF’s regional head.
The $8 billion IMF loan program, implemented to stabilize Egypt's economy amid a foreign-exchange crisis, has triggered significant changes, including currency devaluations and sharp price increases in fuel, bread, and electricity. These measures have placed additional pressure on the Egyptian population of over 106 million, many of whom are struggling with the economic fallout.
During IMF Chief Kristalina Georgieva's upcoming visit to Cairo in early November, discussions will focus on Egypt’s social protection programs, aimed at mitigating the effects of these reforms. The new survey will likely reveal the impact of two years of economic strain caused by devaluations and price hikes on household spending, providing crucial data to improve these support programs.
Egypt's government has signaled its intent to review aspects of the loan agreement, considering the difficult regional and economic conditions, particularly related to conflicts involving Israel, Hamas, and Hezbollah. While the IMF is open to adjustments, it remains committed to ensuring currency reform is maintained, with Egypt allowing the Egyptian pound to fluctuate based on supply and demand.
The upcoming review in November will evaluate the progress of the IMF-Egypt agreement, focusing on how the nation can better safeguard its citizens while navigating economic challenges
Comments
Post a Comment