All posts by Blackbeard

Posted On October 26, 2017By BlackbeardIn News

Malaysia 2018 Budget: Is there any financial restraint?

PETALING JAYA: The Government is expected to exercise financial discipline even though the coming budget, which will be unveiled tomorrow, is the last one before the next general election. Economists said Prime Minister Datuk Seri Najib Tun Razak was expected to target a lower federal government budget deficit compared with 3% this year. “The overall debt levels are also expected to be lower, considering that there is a cautious outlook on the global economy and oil prices are still soft,” said an economist. Towards this end, the International Monetary FundRead More

Posted On October 26, 2017By BlackbeardIn Articles

Iran Should Go For Gold, Not A Currency Reform Illusion

Last December, the Iranian government of Hassan Rouhani passed a bill to change the name of Iran’s national currency from the rial to the toman. This would require a redenomination in which one zero was lopped off Iran’s unit of account, as 1 toman is equal to 10 rials. Without a change in the monetary and exchange rate regime, the proposed changes amount to a great illusion. Iran’s currency is, of course, one of the many reasons for Iran’s economic dysfunction. Indeed, since the Islamic Revolution of 1979, the rialRead More

Posted On October 26, 2017By BlackbeardIn Articles

Venezuelans turn to Bitcoin to escape currency crisis

By now, most Americans are familiar with the economic basket case that is Venezuela. The country’s economy has collapsed, leaving the population desperate and starving. The human cost is highly visible and tragic, but what gets less attention is the way in which the government has destroyed the country’s currency, thereby making it impossible for citizens to buy basic necessities. It’s a common story in socialist countries. Unable to sustain massive levels of government spending, the state prints more and more money, trading short-term gains for massive inflation. It’s oneRead More
This is akin to a family of five selling their home, cars, and personal belongings, in order to finance Dad heading off to Vegas in order to play the fucking slot machines. What can go wrong, after all? Bitcoins only go higher. Source: CNBC Didi Taihuttu, his wife, three kids and their cat bet all they have on bitcoin. The Dutch family of five is in the process of selling pretty much everything they own — from their 2,500-square-foot house, to their shoes – and trading it in for theRead More
Low rate environment puts banks under pressure, ING CEO says from CNBC. The CEO of a major European bank offered a stark warning for his industry on Thursday, suggesting that years of accommodative policy by global central banks could quickly turn sour. Low interest rates have been supportive for the world economy, according to ING Group’s Chief Executive Ralph Hamers, but banks have to be “very cautious” at this moment in time because “this is exactly when things may go wrong,” he said. “You have to be careful and very cautious notRead More

Posted On October 12, 2017By BlackbeardIn News

Here’s Why Malaysians Can’t Afford a House

Malaysia’s central bank has a response to those saying it needs to do more to spur home loans: houses simply aren’t affordable. Bank Negara Malaysia has created a website packed with data aimed at debunking the “myth” that access to financing was deterring home ownership, showing that loan approvals for key cities are near 70 percent or higher. The central bank has resisted calls to loosen mortgage lending, instead saying the property industry should boost efforts to cut costs and accelerate supply. Rising home prices have added to the grievancesRead More

Posted On January 23, 2017By BlackbeardIn News

Ringgit in spotlight on OPEC deal, Trump’s cue

KUALA LUMPUR (Jan 23): Malaysian shares and the ringgit may take the cue from US President Donald Trump’s policies and crude oil prices. This followed Trump’s inauguration last Friday and the weekend meeting between the Organization of the Petroleum Exporting Countries (OPEC) and other producers, which agreed on a method to verify supply-cut compliance. The agreement is crucial to support prices of the commodity, which forms a crucial portion of the Malaysian economy. Meanwhile, investors are closely following Trump’s announcements on the US’ economic growth measures and the country’s globalRead More
It’s tough to be gloomier than billionaire George Soros right now. America has elected a would-be dictator as president, the European Union is disintegrating, U.K. Prime Minister Theresa May won’t last long as her nation prepares to secede from the EU, and China is poised to become an even more repressive society, the investor told Bloomberg Television’s Francine Lacqua from the World Economic Forum in Davos. “It is unlikely that Prime Minister May is actually going to remain in power,” Soros said. She has a divided cabinet and base andRead More
Lant Prichett, a Professor of the Practice of International Development at the Kennedy School of Government at Harvard University, said local students pay too much attention in memorisation for exams instead of understanding the study materials. “Most students leave primary and secondary school without mastering the subjects. By the time they reach the tertiary level, they are left far behind. There is no deep understanding of the materials. Instead, it is rote memorisation, applying theory and regurgitating it during exams,” he said as quoted by Free Malaysia Today. Pritchett hasRead More

Posted On January 19, 2017By BlackbeardIn News

PPB, Genting, WCT down early Thursday, Ringgit dips

KUALA LUMPUR: PPB Group, Genting Bhd and WCT Holdings were among the biggest losers early Thursday on profit taking and corporate news while the Ringgit fell against the stronger US dollar. At 10.01am, the KLCI was down 1.12 points or 0.07% to 1,663.90. Turnover was 481.74 million shares valued at RM223.91mil. There were 231 gainers, 175 losers and 279 counters unchanged. The dollar inched up against the yen and kept broad gains against other major peers early on Thursday, after rebounding sharply overnight on comments by Federal Reserve Janet YellenRead More