Re: Malaysia bans foreign recruitment

by calebdanvers on Sat Feb 07, 2009 1:42 pm

^it is already getting worse and we ARE NOT relatively buffered. i dont know where you got the idea that malaysians still spend alot and maybe alot more during festive seasons. thing is, the americans are still buying stuff. its not like they are gonna stop eating that they decide to stop buying stuff altogether. singaporeans still buy stuff. in fact, everyone is still spending cause if we dont, there will be no more business to do. retailers and small shops would be the hardest hit. like it or not, the domino effect is in place. you fall and i fall. if you say theres relative calm in our country, theres relative calm in these two countries too. we dont hear the people of these two countries go out there and trash things like lunatics on the streets like those greek teenagers who practially burned up their city last month even though their economies have shifted into the pendulum lows. its how much they spend that tells the story behind every buying and selling activity. from what i see and hear, malaysians have really cut back on their spending. sorry to let you know.

by rowanlim on Sun Feb 08, 2009 1:24 am

I thought the Greek teenagers went beserk because a police shot another teen.

Anyway, I'm not gonna argue with you, on a macro-scale, wait til mid-2009 to know the full extent of the damage by the credit crunch. That's all I've to say on the matter.

by calebdanvers on Sun Feb 08, 2009 3:05 am

^i didnt say they went amok because of the current economic situation. i was analogizing the situation you brought up to being as rowdy as that in greece

.

by rowanlim on Sun Feb 08, 2009 10:38 pm

Meh

An Asian currency gauge rose for a second week as policy makers stepped up efforts to revive economies reeling from the global recession, raising speculation overseas investors are returning to emerging markets.

Malaysia is prepared to take “radical” steps to boost the economy, the government said on Thursday, while Indonesia a day earlier cut interest rates for a third straight month. Taiwan will offer tax breaks and subsidized loans to lure local investors back from China, which is increasing export tax rebates for textiles. US President Barack Obama urged lawmakers on Thursday to pass his economic stimulus plan or face
“catastrophe.”

The Philippine peso capped the biggest weekly advance in a month. India’s rupee had a second week of gains and Malaysia’s ringgit traded at a one-week high as regional stocks rallied.

The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-active currencies excluding the yen, rose 0.4 percent for the week to 105.10.

The peso climbed 0.5 percent on Friday to 47.202 per US dollar, a weekly gain of 0.4 percent. India’s rupee advanced 0.3 percent this week to 48.7250 versus the US currency.

Taiwan, China, Malaysia and the Philippines will all issue data on exports next week, with economists surveyed by Bloomberg News forecasting contractions in each nation. The Bank of Korea also meets on interest rates.

The New Taiwan dollar declined this week on speculation falling exports and the slowing economy will deter overseas investors.

Economists are expecting overseas sales from Taiwan slid 48 percent last month, following a 42 percent decline a month earlier, according to a Bloomberg survey before the trade report on Feb. 9.

The central bank may seek to weaken its currency to help exports, said AU Optronics Corp (友達光電), the world’s third-biggest producer of liquid-crystal displays.

The NT dollar fell 0.5 percent this week to NT$33.750 from NT$33.57 on Jan. 23, when local markets closed for the week-long Lunar New Year holiday, according to Taipei Forex Inc.

The South Korean currency rose 0.1 percent to 1,383.80 per dollar, paring this week’s loss to 0.3 percent, as global funds bought more local shares than they sold for an eighth day, the longest run of net purchases since April 2007.

The Chinese yuan was little changed at 6.8360 from a week ago.
The US dollar weakened against the euro on Friday after another horrific set of US employment figures dented its safe-haven allure.

The euro was at US$1.2943 at 10pm GMT, up from US$1.2786 late on Thursday.
The dollar rose to ￥91.83 from ￥91.13. In late New York trading on Friday, the US dollar slipped to 1.615 Swiss francs from SF1.1724 late on Thursday.

The pound rose to US$1.4789 from US$1.4623.

Source

by calebdanvers on Mon Feb 09, 2009 2:16 am

i dont know why but i think all of those described above are gonna be temporary. its not like they havent done those interest rate cuts, passing of economic stimulus plan, bailouts, bla bla bla. someone has got to find the hole and plug it or it will continue to leak away until there's nothing left. one thing though, currency going up spells BAD OUTLOOK for our export.

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