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The ringgit finally had a good week, appreciating against most major currencies after being one of the worst performing so far this year. It appears the worst is over for Malaysia’s currency but its continued recovery is contingent on not just the local economy improving, but also on external factors that can hopefully arrest its narrowing trade surplus.
This week also marks a decade since Malaysia Airlines flight MH370 disappeared enroute to Beijing. Malaysia has vowed not to give up on the search, but without any credible new leads, it appears that the missing Boeing 777 will remain one of the world’s most mysterious aviation incidents.
On the political front, the battle for the crucial Malay majority vote rages on. The ruling parties that make up Prime Minister Anwar Ibrahim’s government have seen ebbing support from the Malay community, and a congress to push economic empowerment for the Bumiputera - which mainly comprises Malays and indigenous tribes – was seen as an effort to reverse the tide.
Meanwhile, two rival former premiers, Najib Razak and Muhyiddin Yassin, suffered setbacks in their bids to fight their graft cases. A former 1MDB lawyer told the court that nothing moved in the scandal-hit company without the say-so of ex-Umno chief Najib, while Parti Pribumi Bersatu Malaysia president Muhyiddin saw charges of abuse of power reinstated against him.
Follow ST’s coverage as we continue to bring you the latest developments.
Ringgit likely to stay weak for first half of 2024, but worst is over: Analysts
China's economic slowdown and Malaysia's delayed economic reforms will weigh on the currency.
New pro-bumiputera economic policy will benefit all Malaysians: DPM Zahid
The initiative comes amid waning Malay support for PM Anwar Ibrahim's unity government.
Malaysia says MH370 search must go on, 10 years after plane vanished
Malaysian High Commission limits consular services to 70 cases a day in Singapore
Trailblazing travellers: Surfer runs camps in Cherating teaching newbies how to catch waves
