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BusinessToday
2 days ago
- Business
- BusinessToday
Bond Yields May Edge Higher As Key Data From US Is Released
Malaysian Government Securities and Government Investment Issues yields saw a decline this week, easing between 0.1 and 7.9 basis points (bps) across the curve. The benchmark 10-year MGS yield fell by 4.6 bps to 3.544%, while the 10-year GII slipped by 3.6 bps to 3.539%. The shift in yield movement was primarily driven by a dissipation of initial risk-off sentiment, which had been spurred by earlier concerns over US involvement in the Iran-Israel conflict. Market sentiment improved significantly following the announcement of a ceasefire in the region. Adding to the positive tone, Malaysia engaged in constructive international developments. The signing of a free trade agreement with European Free Trade Association (EFTA) members—Switzerland, Norway, Iceland, and Liechtenstein—alongside deepening economic ties with Kyrgyzstan and Uzbekistan, bolstered investor confidence. Further positive developments included progress in Malaysia–US tariff negotiations and reports of Intel's planned semiconductor expansion in the country, collectively strengthening Malaysia's appeal as an investment destination. Despite these recent gains, analysts at Kenanga Research suggest that local bond yields may experience a modest rise in the near term. This outlook is attributed to renewed global trade tensions, as markets grow wary of escalating US–EU tariff frictions, the upcoming fiscal bill from the Trump administration, and the potential reimposition of tariffs in the weeks ahead, specifically around July 9. Investors are expected to closely monitor upcoming US economic data for any signs of weakness that could justify interest rate cuts by the Federal Reserve. Related
The Star
4 days ago
- Business
- The Star
Malaysia too hasty in signing EFTA trade agreement
THE Consumers' Association of Penang (CAP) expresses deep disappointment over the Malaysian government's decision to rush into signing a trade agreement with Iceland, Liechtenstein, Norway, and Switzerland that together form the European Free Trade Association (EFTA) on June 23 in Norway. The government failed to address critical concerns raised in CAP's memorandum submitted earlier this month, based on the leaked text of the intellectual property (IP) annex to the Malaysia-EFTA Economic Partnership Agreement (Meepa). The full text of Meepa has now been published. Contents of the IP Annex are substantially the same as the leaked text.
The Print
4 days ago
- Business
- The Print
Trade agreements with US, EU to be concluded soon: Sitharaman
India has already signed free trade agreements with the UAE, Australia, and 4-nation EFTA (European Free Trade Association) bloc and negotiations have been completed with the UK, she said adding 'with the US and the European Union, negotiations are really intensely going on and should come to conclusion sooner.' The emphasis now is on concluding more free trade agreements, she said while inaugurating Trade Conclave by India Exim Bank here. All efforts are being made to boost exports to achieve the ambitious target of USD 2 trillion by 2030. New Delhi, Jun 24 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said negotiations for the proposed free trade agreements with the US and European Union (EU) are progressing at a fast pace and would be concluded soon. She also mentioned Budget announcements of Export Promotion Mission and Bharat Trade Net, a digital public infrastructure which provides a unified platform for trade documentation and financing solutions. The Budget also proposed a National Framework for Global Capability Centres (GCC) to further support services-led growth in emerging tier 2 cities and Trade Facilitation Measures. Referring to the country's exports, the finance minister said total exports of goods and services reached a record high of USD 825 billion in FY25, achieving 6 per cent growth over previous year. This is a significant leap from USD 466 billion in 2013–14. While global exports grew by only 4 per cent, India's exporters managed to fast-track and cross growth of 6.3 per cent despite global uncertainties on trade front, she said. Observing that exporters are 'swimming against tides' , she assured all support to them and urged them to focus on innovation and finding newer markets for their products. Quoting United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2025, she said, India's position has improved though the global FDI flows dropped 11 per cent. FDI inflows of nearly USD 668 billion from 2014-24 account for nearly 67 per cent of the total FDI reported in the last 24 years which was USD 991 billion, she said. India has deepened its participation in global value chains, she said, adding, Apple India's iPhone contract manufacturers have crossed the 20 per cent domestic value addition (DVA) threshold across variants. Speaking at the event, Financial Services Secretary M Nagaraju said India's growth prospects remain bright even as the world economy is troubled by geopolitical uncertainties and significant headwinds emanating from it. 'Even amidst all the global headwinds, India continues to be a beacon of hope,' he said. Nagaraju said that India's exports, which the commerce ministry is 'trying very hard' to integrate into the global value chain, are doing well irrespective of the challenges. Exports from the pharmaceuticals and gems and jewellery sectors are showing resilience, he said adding in this endeavour, the finance ministry is committed to extending support through policy, schemes and financial aid. 'Our financial systems are strong with adequate capital and low non-performing assets,' he said, adding, this gives strong support to India's financial needs. PTI DP DP ANU ANU This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Fibre2Fashion
4 days ago
- Business
- Fibre2Fashion
Malaysia signs economic partnership agreement with EFTA nations
Malaysia has signed an Economic Partnership Agreement with European Free Trade Association (EFTA) member countries—Switzerland, Norway, Iceland and Liechtenstein—in Tromso, Norway, strengthening international trade relations. The agreement offers opportunities for economic cooperation and trade to grow further and enables stakeholders on both sides to achieve valuable tariff savings. The parties also signed a memorandum of understanding (MoU) on cooperation and capacity building, EFTA said in a joint press statement. Malaysia has signed the Malaysia-EFTA Economic Partnership Agreement with Switzerland, Norway, Iceland, and Liechtenstein in Tromso, Norway. The agreement aims to deepen trade and investment ties, covering goods, services, intellectual property, and sustainable development. Over 90 per cent of Malaysia's exports, including all industrial goods, will receive permanent duty-free access to EFTA markets. The agreement is an ambitious and broad-based agreement covering trade in goods, services and investment. Furthermore, this milestone agreement includes areas such as economic cooperation, trade and sustainable development, intellectual property rights, rules of origin, competition, trade facilitation, government procurement, sanitary and phytosanitary measures, and technical barriers to trade. Upon implementation, over 90 per cent of Malaysia's exports—including all industrial goods—will gain permanent duty-free access to EFTA markets, replacing the benefits once offered under the generalised system of preferences (GSP), as per Malaysia's media reports. The Malaysia-EFTA Economic Partnership Agreement (MEEPA) was signed by Malaysia's Minister of investment, trade and industry Tengku Datuk Seri Utama Zafrul Aziz, Minister of trade of Norway and current EFTA chair Cecilie Myrseth, Minister of finance and economic affairs of Iceland Daði Már Kristófersson, Deputy Prime Minister of Liechtenstein Sabine Monauni, and Vice President of Switzerland Guy Parmelin. 'At a time when the international trading system is under pressure, the signing of the Economic Partnership Agreement between the EFTA States and Malaysia is a powerful statement of our shared commitment to open, rules-based trade. It strengthens our economic ties, supports sustainable growth and provides opportunities for businesses and workers on both sides,' said Myrseth. 'This Economic Partnership Agreement represents more than just a trade agreement. MEEPA is a powerful tool for Malaysia and the EFTA States to enhance our bilateral trade and investment partnership, while strengthening our resilience in the face of global challenges. The signing of MEEPA is only the beginning. Together, our priority must be to fully operationalise this agreement and maximise its potential by facilitating greater collaboration between our governments and businesses,' said Zafrul. Fibre2Fashion News Desk (SG)
Malaysiakini
5 days ago
- Business
- Malaysiakini
M'sia too hasty in signing Europe free trade agreement
COMMENT | CAP expresses deep disappointment over the Malaysian government's decision to rush into signing a trade agreement with Iceland, Liechtenstein, Norway, and Switzerland that together form the European Free Trade Association (EFTA) on June 23 in Norway. The government failed to address critical concerns raised in our memorandum submitted earlier this month, based on the leaked text of the intellectual property (IP) annexe to the Malaysia-EFTA Economic Partnership Agreement (Meepa). The full text of Meepa has now been published. Contents of the IP Annexe are substantially the same as the leaked text. In the CAP Memorandum, we have set out in detail our concerns on the IP Annexe.
