KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Key Takeaway: A €350 million Global Shield fund , meant to support climate-hit nations, has delivered only €5.2 million in two years, raising doubts about developed nations' commitment to climate finance. Countries vulnerable to climate disasters are facing years-long delays in accessing promised financial support. The Global Shield, launched in 2022 by the Group of Seven (G7) and led by Germany, was designed to ease the financial burden of climate crises but has so far disbursed a mere fraction of its allocated funds. Progress and Challenges Disbursements: Only €5.2 million has been released, primarily for insurance premiums for Pacific Island nations and Ghana’s sovereign drought insurance . Complex Process: Countries like Pakistan and Madagascar face lengthy analyses and bureaucratic hurdles to unlock funds. Pakistan, devastated by extreme flooding in 2022 , is still awaiting support nearly two years later. Broader Needs: Madagascar, frequently hit by cyclones, requir...