On Friday 23rd October 2015, Prime Minister Datuk Seri Najib Tun Razak who is also Finance Minister unveiled Budget 2016 focusing on ensuring Malaysia remains a competitive economy without sacrificing the people’s needs and interests.
The Budget 2016 is to ensure inclusive and sustainable growth in the years leading to 2020 when Malaysia aims to be a high-income, advanced economy. This budget is the first of five annual budgets under the 11th Malaysia Plan. RM267.2bil will be allocated under Budget 2016, compared with the revised RM260.7bil in 2015.
The theme for the Budget 2016 is “Prospering the Rakyat” which is based on five priorities as follows:
This article is an adaptation from a section of Sharif Rahman’s latest book which concluded his detailed explanation on gold’s multitude of failures. His latest book is titled, “Kegagalan Emas Sebagai Matawang” and is sure an exciting read because he also took the time to explain the justice of “interest”.
Ever wonder why the money in your hand is considered valuable, even if the paper it’s printed on is just that, mere pieces of beautiful paper? Many gold bugs made the silly accusation that these pieces of paper have no value and are no match when compared to their shiny gold bars and coins. They claimed that the Ringgit’s value is simply being dictated by the government and the government is forcing the people to accept it. Thus the typical word they used to badmouth the currency is “fiat”. Fiat means decree, and a long time ago, that was the case. However today, our paper money is no longer a mere fiat currency, it is a currency that is soundly backed, and the backing is far superior to using gold as the support.
Malaysians have the conviction that Singaporeans are doing far better than Malaysians do. In many specialized areas, indeed, the level of superiority of Singapore seems to be light years away compared to Malaysia. However when all things are smoothened out, and the data is generalized over the entire country (Malaysia is much bigger and populous than its neighbor, by as much as 1,400 times and 6 times respectively), we can see that the overly emphasized achievements of Singapore (or the lack of achievements on the part of Malaysia) will fall apart.
The most overarching example is the comparison of the exchange rate between the two countries.
A prerequisite for trading the forex market is the ability to read a currency chart. In this article we cover the basics of forex charts – what the chart measures and what it can reveal about the relative strength of a currency.
To begin, a chart is simply a historical representation of the price of a security over a given period of time. Simply put, a chart shows how price of the currency (reflected on the vertical axis) has fluctuated over time (captured on the horizontal axis).
Let us take the example of a EUR USD chart to make this more specific. Remember, currencies trade in pairs so the exchange rate reflects how many dollars can be purchased with one euro. The current exchange rate is roughly 1.29, which means each euro is worth 1.29 dollars.
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