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.
The World Bank is grappling with the difficult task of raising a record-breaking amount of funds to aid the world's poorest nations, according to Akihiko Nishio , vice-president of development finance. Several factors, including the strong US dollar and increasing funding demands from donors, are creating obstacles in meeting the bank's ambitious goals. The appreciation of the US dollar has impacted donations, with currencies in many donor countries depreciating. As a result, some European nations may need to increase their contributions by 20% just to maintain inflation-adjusted donation levels. Additionally, donor funds are being stretched thin due to aid for Ukraine , support for refugees, and rising global food prices . World Bank President Ajay Banga set the target of raising a record amount of donations for the International Development Association (IDA) , the bank’s unit responsible for providing low-interest loans and grants to the world’s 75 poorest countries ....