Ringgit opens higher amid Iran-Israel conflict
At 8am, the local note rose to 4.2490/2700 against the greenback from yesterday's close of 4.2590/2625.
Bank Muamalat Malaysia chief economist Afzanizam Abdul Rashid said market sentiment would likely be cautious as traders and investors were keeping tabs on the Israel-Iran conflict, while the US considers its response to the currency pressures.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
an hour ago
- Free Malaysia Today
SMM blasts ‘politically motivated' allegations surrounding viral photo, threatens legal action
Sabah Mineral Management Sdn Bhd has refuted any wrongdoing arising from a photograph that has gone viral recently, saying it was taken during a working visit to Indonesia in August 2024. PETALING JAYA : Sabah Mineral Management Sdn Bhd (SMM) has threatened legal action against media outlets and others over the continued publication of 'false, misleading, and defamatory' allegations stemming from a now-viral photograph of its officials. In a statement addressing the photo which features current CEO Natasha Sim alongside several officials, the state-owned agency said: 'SMM unequivocally denies that any wrongdoing occurred.' It described the controversy as 'politically motivated' and part of a 'broader campaign to damage the company and its officers'. 'Should these baseless accusations continue to circulate, we will not hesitate to initiate legal action, including against media outlets for defamation and malicious falsehood,' the statement read. SMM noted that the allegations relate to an ongoing lawsuit involving Sim's predecessor, Jontih Enggihon, and businessman Albert Tei. The suit includes claims of fraud, breach of fiduciary duty, tampering with official documents, and conspiracy to injure. 'The current wave of public allegations appears to recycle issues already under judicial scrutiny,' it said. It clarified that the photograph was taken during a working visit in August 2024 as part of foreign direct investment discussions with a mining conglomerate in Indonesia. The visit followed board approval in February 2024 and was led by Sim, then serving as chief strategy officer. It added that the first trip to the conglomerate's base had occurred in March 2023, and was initiated by Jontih as part of a due diligence exercise. The partnership was formally recommended to the board by Jontih in December 2023. On July 18, Malaysiakini reported that the now viral photograph had 'triggered a fresh political storm'. Apart from Sim, the photograph featured SMM secretary Emily Chong and Sabah timber tycoon Elbert Lim next to a private jet. The portal quoted Warisan assemblyman Justin Wong as claiming the photo had sparked a new scandal engulfing SMM.
Free Malaysia Today
2 hours ago
- Free Malaysia Today
Immigration dept to roll out MyVisa 2.0 on Aug 1
The immigration department said MyVisa 2.0, launched by deputy home minister Shamsul Anuar Nasarah, will go live on Aug 1. (Bernama pic) PUTRAJAYA : The immigration department will begin implementing MyVisa 2.0, an integrated digital visa platform for foreign nationals, from Aug 1. The system was launched by deputy home minister Shamsul Anuar Nasarah during the 103rd Immigration Day celebration, themed 'AI driving immigration reform', held here today. Immigration director-general Zakaria Shaaban said the new system speeds up visa processing by leveraging on artificial intelligence. 'MyVisa 2.0 applies AI in the visa application process, eliminating the need for applicants to visit the office in person,' he told reporters. In a separate statement, the department said MyVisa 2.0 is an enhanced version of the original system introduced on Dec 1, 2021. 'The upgraded platform offers a faster, more secure and efficient visa application process, in line with the public's expectations and the growing demand for accessible government services,' it said. MyVisa 2.0 introduces advanced features such as optical character recognition, real-time notifications, smart automation and a dedicated mobile app for users. The entire visa process is fully digital, from passport scanning and document uploads to virtual interviews, real-time tracking, eVisa approval with QR codes and live chat support. 'Applicants are no longer required to visit Malaysian missions abroad,' the department said.
Free Malaysia Today
2 hours ago
- Free Malaysia Today
‘Pay-as-you-use' mulled at new affordable housing schemes
Prime Minister Anwar Ibrahim (third from left) and housing and local government minister Nga Kor Ming (left) looking at a model of the Rumah Bakat Madani project at its launch in Seberang Jaya, Penang, on Saturday. (Bernama pic) PETALING JAYA : The housing and local government ministry is exploring a 'pay-as-you-use' model for maintenance fees in future affordable housing developments, as part of housing sector reforms. Its minister, Nga Kor Ming, said this is part of efforts to elevate the real estate industry and promote more equitable access to housing for all Malaysians. Speaking to reporters at the Kuala Lumpur Architecture Week (KLAW) 2025 today, Nga said the ministry plans to introduce a system that allows residents to pay maintenance fees based on actual usage of shared facilities. 'Under this proposed model, residents will receive access cards that track their monthly usage of shared facilities. 'We are starting with the Rumah Bakat Madani initiative led by Skyworld Pearlmont in Penang, which features a pay-per-use clubhouse with an infinity pool, pickleball and badminton courts, a children's playground and gyms,' Bernama reported him as saying. Nga said the concept will serve as a reference for future public housing projects. 'These projects may also include vertical schools to provide vulnerable communities better access to education,' he said. He said the ministry also plans to engage private sector players to develop industrialised building system facilities, aiming to expand the use of modular construction methods such as prefabricated prefinished volumetric construction.
