Malaysian exports maintain strong growth
Malaysian exports in April maintained the strong double-digit growth momentum since the start of the year, recording a 20.6 per cent expansion for the month. Economists expect the solid growth pace to continue through this month. However, they expect some moderation in the second half of this year as base effects ease and output and new orders soften. The International Trade and Industry Ministry said total trade expanded 22.5 per cent to RM139.18 billion in April. Exports rose 20.6 per cent to RM73.97 billion, while imports grew 24.7 per cent to RM65.21 billion. The trade surplus stood at RM8.75 billion for April, the 234th consecutive month of a trade surplus since November 1997.
Oil prices continue to slide
Oil prices on Tuesday resumed their slide from the previous session, hit by concerns that a political rift between Qatar and several Arab states would undermine an OPEC-led push to tighten the market. Persistent gains in US production also dragged on benchmark crude prices, traders said. Brent crude futures were trading at US$49.15 per barrel at 0119 GMT, down 32 cents, or 0.65 percent from their last close. That was more than 8 percent below May 25, when an OPEC-led policy to cut oil output was extended into the first quarter of 2018.
Airline industry sees higher profits in 2017
The International Air Transport Association (IATA) has increased its profit forecast for the global airline industry, attributing it to a surging demand. The IATA said total profits for the group’s 275 member airlines are now expected to hit US$31.4 billion (RM133.7 billion) this year, up more than five per cent from the previous forecast late last year. “Airlines are defining a new epoch in industry profitability. For a third year in a row, we expect returns that are above the cost of capital,” said IATA’s director general, Alexandre de Juniac. Among the industry’s concerns, he said, was the decision in March by the United States and Britain to ban laptop and tablet computers in-cabin on flights from certain airports in the Middle East and Turkey.
