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27/09/2021
27/09/2021
Sony akan ‘tutup buku’ di Perai selepas 36 tahun, 3,400 pekerja terjejasGEORGE TOWN: Kilang Sony di Pulau Pinang yang me...
04/12/2020

Sony akan ‘tutup buku’ di Perai selepas 36 tahun, 3,400 pekerja terjejas

GEORGE TOWN: Kilang Sony di Pulau Pinang yang menghasilkan produk audio seperti walkman untuk pasaran eksport dan tempatan, akan ditutup September tahun depan selepas 36 tahun beroperasi.

Pengerusi Jawatankuasa Perdagangan Antarabangsa dan Dalam Negeri, Hal Ehwal Pengguna dan Pembangunan Keusahawanan Halim Hussain berkata, penutupan kilang Sony di Perai itu menyebabkan hampir 3,400 pekerja akan diberhentikan.

Bercakap kepada FMT, beliau berkata 1,800 pekerja ialah penduduk tempatan manakala 1,600 terdiri daripada warga asing.

“Sebilangan pekerja ini akan dipindahkan ke kilang Sony di Bangi. Kerajaan negeri akan membantu mereka yang diberhentikan untuk mencari pekerjaan baru,” katanya.

Walaupun Sony belum mengeluarkan kenyataan, Halim berkata kilang itu akan ditutup secara berperingkat dan menghentikan operasi sepenuhnya pada September.

“Ini ialah sebahagian daripada rancangan Sony untuk menyusun semula operasinya secara global.”

Beliau percaya penutupan itu adalah proses sementara yang diperlukan, memandangkan persaingan sengit dalam industri pembuatan multinasional.

Halim berkata, negeri itu memperoleh pelaburan langsung asing (FDI) RM10 bilion tahun ini, lebih daripada 9,000 pekerjaan akan dijana dalam masa terdekat dan ada harapan bagi mereka yang diberhentikan.

Source : FMT News

Health director-general Tan Sri Dr Noor Hisham Abdullah said this on his official Twitter page 2 days ago. 28th Nov, 202...
30/11/2020

Health director-general Tan Sri Dr Noor Hisham Abdullah said this on his official Twitter page 2 days ago. 28th Nov, 2020, Prime Minister Tan Sri Muhyiddin Yassin said Malaysia has signed 2 agreements that guarantee Covid-19 vaccine access for 30% of Malaysians. This includes the deal with Pfizer, which was signed on 24th Nov, 2020, involving the supply of vaccines for 6.4 million people.

The agreement to purchase 12.8 million doses of the Covid-19 vaccine with pharmaceutical company Pfizer Inc can be made void if the vaccine fails to be registered with the United States' Food and Drug Administration (FDA) and the Health Ministry's National Pharmaceutical Regulatory Agency (NPRA).

Muhyiddin also stressed that Pfizer still needs the approval of the FDA and regulatory approval from the producing country, in addition to the NPRA, before it can be used in Malaysia.

In further tweets, Dr Noor Hisham said Malaysia is not getting vaccine supplies from just one company. He was responding to a question from a Twitter user seeking clarification on why Malaysia is leaning towards Pfizer for vaccines, when the company is said to have a complicated vaccine storage mechanism when compared with other companies.

"We are trying to get vaccine supply from various sources. Not just one company," Dr Noor Hisham said. Earlier, he also said on his Twitter account, , that he visited areas under the Enhanced Movement Control Order (EMCO) at Jalan Teratai in Klang.

In the tweet, the Health director-general said he was briefed by the Klang district Health officer, Dr Masitah Mohamed, on the latest Covid-19 developments and management in the area.

Source : NST

( https://www.nst.com.my/news/nation/2020/11/645157/acquisition-pfizer-covid-19-vaccine-hinges-fda-npra-approval )

Malaysia’s preliminary purchasing agreement with pharmaceutical company Pfizer will be void if the latter’s Covid-19 vac...
30/11/2020

Malaysia’s preliminary purchasing agreement with pharmaceutical company Pfizer will be void if the latter’s Covid-19 vaccine fails to be registered with the US Food and Drug Administration (FDA) and Malaysia’s National Pharmaceutical Regulatory Agency (NPRA), health director-general (DG) Tan Sri Dr Noor Hisham Abdullah said today.

Noor Hisham said this via Twitter today following news reports yesterday that the Malaysian government, through the Ministry of Health (MoH), had signed the agreement with Pfizer to obtain 12.8 million doses of its Covid-19 vaccine to meet immunisation needs of 20% or 6.4 million Malaysians.

Bernama, quoting Prime Minister Tan Sri Muhyiddin Yassin, reported that the agreement, signed on Tuesday, aimed to ensure the government had access to data to assess the vaccine’s quality, safety and effectiveness, while also ensuring access once it is ready for distribution.

It was reported that Muhyiddin, however, said Pfizer would still need approval from the FDA and regulatory approval from the producing country, besides approval from the NPRA for the vaccine to be used in Malaysia.

"Pfizer on Nov 9 stated that the first interim data analysis showed that the vaccine's efficacy was at 95%. Through this agreement, Pfizer has pledged to deliver one million doses, 1.7 million doses, 5.8 million doses and 4.3 million doses of Covid-19 vaccines in the first, second, third and fourth quarters of 2021.

“The government also wants to assure the people that the vaccine to be used in Malaysia must pass strict conditions set by the NPRA. The government will never compromise on this matter,” he told a virtual media conference in Putrajaya yesterday.
Today, Azrul Mohd Khalib, the chief executive officer (CEO) of the Galen Centre for Health and Social Policy, said news of Malaysia’s agreement with Pfizer represents a major leap forward in the race towards improving management of the coronavirus epidemic among the Malaysian population.

However, the fight against Covid-19 is a marathon and the Malaysia-Pfizer deal is only the first leg of the race, according to Azrul. "The Covid-19 vaccine by Pfizer and BioNTech, a two-dose regimen like most of the leading vaccine candidates, is expected to be priced at US$19.50 (about RM79.36) per dose. This would mean that Malaysia has committed to paying an estimated US$249.6 million (over RM1 billion) for 12.8 million doses.

"However, the investment is worth it if we are able to prioritise and quickly assure protection of our personnel working in essential public services, such as in the health, law enforcement, sanitation and utilities sectors, as well as those vulnerable, such as the elderly and patients with non-communicable
diseases,” he said.

Azrul said Galen is also concerned about the logistical burden to be shouldered by the MoH because the vaccine requires ultra-cold storage of -70°C, a capacity beyond most existing primary care healthcare facilities.

Therefore, the MoH would be reliant on the availability of suitable storage units at the state level to ensure that the vaccines' cold chain is not interrupted, according to him.

"We expect the most challenging part of the process to be the delivery of vaccines to rural areas. Due to limitations and pragmatic concerns, will urban areas end up being prioritised over rural areas?” Azrul asked.

Azrul said Malaysia needs to review its Budget 2021 allocations, especially those related to Covid-19 vaccination because the scheme involves more than just the cost of the vaccine but also supporting infrastructure expenses.

He said the country needs to ensure that the MoH gets the necessary funds and manpower needed to hit the ground running when the vaccine becomes available in 2021, especially since this vaccine has specific logistical and storage requirements which require investing in related infrastructure and training.

"Are we going to acquire Pfizer's special ice boxes? Have we allocated for the record-keeping system? As it stands, we do not believe that the existing allocations are adequate for the purpose. The health allocations need to be reviewed and increased," Azrul said.

15/11/2020
14/11/2020

Traffic is comparatively low in some of the premiere shopping mall over the weekend

08/11/2020

Excellent rousing speech by Joe Biden:

My fellow Americans,
Let us stand for a moment of silence for the more than 200,000 Americans who have died needlessly of coronavirus.

America is at a tipping point. We are at the hour of maximum danger. The earth is at its hour of peril. Four years ago, Donald Trump promised to put America first, and he did. America is now first in the world in the number of coronavirus cases, first in the number of pandemic deaths, first in the total acres of forests burned by wildfires, and first in the frequency and ferocity of hurricanes in a season, and first in the outbreaks of racial violence and wrongful deaths.

The Arctic is melting fast, the sea levels are rising rapidly. The earth’s surface is overheating.

And never in the history of America has its president told so many lies while in office, at an alarming rate of 20 per day, and over 20,000 in total. He breaks the Guinness Records for the number of presidential lies told. That, too, is America’s first.

Trump wants four more years. But can America and the world survive another four years of unchecked madness ? As my running mate Kamala Harris puts it “The president he has been will be the president he will be”, only more terrifying and reckless. In Roman times, Nero fiddled while Rome burned. In today’s America, Trump golfs while the West Coast incinerates. In under four years, Trump has clocked over 18,000 hours of executive time and over 9000 hours on the golf course.

He is the only sitting president to have dozens of books written about him, most stinking to high heaven, by his lawyers, former officials and his own niece. You don’t have to read the books, their titles tell you all you need to know about this man: “Fire and Fury”; “Fear”; “Rage”; “Unhinged”, “Disloyal”, “Collusion”. We never thought that such words would apply to an American president. He is mentally and morally unfit for office; he has never grown into the job. He still behaves like the bombastic host of the reality show he once was, firing officials and his own appointees at will. At last count, 415 of them were out the door, voluntarily or involuntarily. He does not fear God or believe in science. He governs by tweets, dishes out insults, and gets his way by sharp elbows.

Domestically, he is against social distancing. But internationally, he has social-distanced America from its allies and believers.

Don’t get me wrong. Some people love Trump. I can think of three types who do: comedians, lawyers, and psychologists. Comedians like Stephen Colbert love him because he is an endless source of stupidity and buffoonery. Lawyers love him because he is in eternal need of their services to defend him against multiple lawsuits for sexual assault, tax fraud or business improprieties, as well as his historic impeachment. Trump is the psychologist’s favorite because he is a textbook case for infantile, psychotic behavior. Under Trump, the American presidency has become the world’s laughingstock and a sick joke.

Trump’s favorite animal is the scapegoat. Everything bad that happens is a hoax or somebody else’s fault. But there is one person he never points a finger at: Vladimir Putin. I wonder why ? When he met Putin in Helsinki, he made sure no American official was present, except for the interpreter. And when the meeting was over, he seized her notes. Again, I wonder why ? Why the super-secrecy ? What does Putin have on Trump ? The suspense is killing us. Why not put “pee-gate” to rest once and for all and let’s see the videotapes of the yellowish bedsheet in a Moscow hotel ? I salute Putin as the greatest strategist of all time. Without spending a single Russian ruble, or pointing a gun, he has got Trump under his thumb. Trump is not making America Great Again. He is making Russia Great Again.

Look around you. Ask yourself: Is America a happy place ? Forget about being great. As one man said to me: How can I be happy ? I have lost my job, my car, and my house. My wife has left me, and Trump is in the White House.
You want four more years of this miserable man ? Give him back his old job as host of a reality show, where he can do the least harm.

For Trump there is no Me-too Movement, only the Me-Me movement —turning the Attorney General, Secretary of State and Postmaster General into his personal attack dogs.

They say we can know a man by the company he keeps, and Americans have seen the parade of immoral characters or convicted criminals, the likes of Jeffrey Epstein, Jerry Falwell Jr., or Roger Stone who inhabit Trump’s social or inner circle.

America is at the hour of maximum danger. For the first time in our history, we have a president with a twisted logic and a “win-at-all-costs” murderous mindset, openly declaring that if he loses the election, it is rigged; if he wins, it is unrigged. A desperate man will do desperate things. He has sabotaged the Postal Service to tamper with the mail-in vote. If Trump loses, the army will have to drag him out of the White House, because he won’t leave voluntarily. Trump is a dangerous loser. If he loses the election, he might declare martial law to circumvent the constitution. For the first time in its history, America may not have a peaceful and orderly transfer of power. We may be teetering on the brink of another bloody civil war-- all because of one man. This man sends a chill down our spines. James Mattis told us that as Secretary of Defense, he slept in his gym clothes and kept a warning light outside his shower and prayed a lot in case Trump had done the unthinkable and the apocalyptic.

Almighty God, what have we done to deserve Trump ?
Trump has called the pandemic a hoax, that it will go away by itself. Now he says a vaccine will be ready a few days before the election. How convenient ! Mr President, we want to believe you. But just to be sure, can you swear on the bible that you will put your arm where your mouth is, and be the first person to take the jab for the new vaccine ? If you do, I might even consider asking your niece to vote for you.
I must say I am profoundly disappointed by my Republican colleagues. Theirs is the party of Abraham Lincoln, not of an unleashed financial and sexual predator or racial divider. Show us your integrity and courage, and throw your amoral candidate under the bus. Give us a decent and honorable leader we can honorably compete against. We want to win fair and square, but neither do we want to lose ugly. If Republican politicians think they need to be on Trump’s coattails to win another term, be careful, his filthy coattails may turn out to be your political shroud.

Trump has insulted everybody in sight, living, dying or dead. He has even called our honored war dead “losers and suckers”. On November 3, make sure that “Putin’s poodle” is permanently leashed, kenneled, and neutered. Make sure there is no Trump Act 2. Otherwise, we are all “losers and suckers.”

Will it be Biden ?
04/11/2020

Will it be Biden ?

𝐒𝐭𝐨𝐜𝐤 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐢𝐞𝐬 𝐟𝐫𝐨𝐦 𝐔𝐒 𝐏𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐄𝐥𝐞𝐜𝐭𝐢𝐨𝐧〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️🏅 Exxon Mobil vs Workhorse🏅 Walmart vs Tesla🏅 Fac...
31/10/2020

𝐒𝐭𝐨𝐜𝐤 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐢𝐞𝐬 𝐟𝐫𝐨𝐦 𝐔𝐒 𝐏𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐄𝐥𝐞𝐜𝐭𝐢𝐨𝐧
〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️〰️

🏅 Exxon Mobil vs Workhorse
🏅 Walmart vs Tesla
🏅 Facebook vs Brookfield
🏅 Twitter vs Energy Transfer

🏚️ 𝐃𝐚𝐭𝐞 : 3𝐫𝐝 𝐍𝐨𝐯 2020 (𝐓𝐮𝐞𝐬𝐝𝐚𝐲)

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𝐓𝐚𝐠 "𝐬𝐨𝐦𝐞𝐨𝐧𝐞" if you 𝑡ℎ𝑖𝑛𝑘 𝑡ℎ𝑖𝑠 𝑖𝑠 TRULY H̆̈ĕ̈l̆̈p̆̈f̆̈ŭ̈l̆̈ 𝒕𝒐 𝒉𝒊𝒎/𝒉𝒆𝒓

𝗠𝗮𝗷𝗼𝗿 𝗘𝘃𝗲𝗻𝘁𝘀 𝗡𝗲𝘅𝘁 𝗪𝗲𝗲𝗸1️⃣Trump VS Biden U.S Election (3rd Nov U.S time) 🇺🇸 2️⃣Bank Negara OPR Meeting (3rd November) 🇲🇾 ...
30/10/2020

𝗠𝗮𝗷𝗼𝗿 𝗘𝘃𝗲𝗻𝘁𝘀 𝗡𝗲𝘅𝘁 𝗪𝗲𝗲𝗸

1️⃣Trump VS Biden U.S Election (3rd Nov U.S time) 🇺🇸

2️⃣Bank Negara OPR Meeting (3rd November) 🇲🇾

3️⃣Malaysia Budget (6th November) 🇲🇾

𝗔𝗴𝗼𝗻𝗴 𝗵𝗮𝘀 𝗱𝗲𝗰𝗶𝗱𝗲𝗱 : 𝗡𝗼 𝗻𝗲𝗲𝗱 𝗳𝗼𝗿 𝗮 𝘀𝘁𝗮𝘁𝗲 𝗼𝗳 𝗲𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah has decided ...
25/10/2020

𝗔𝗴𝗼𝗻𝗴 𝗵𝗮𝘀 𝗱𝗲𝗰𝗶𝗱𝗲𝗱 : 𝗡𝗼 𝗻𝗲𝗲𝗱 𝗳𝗼𝗿 𝗮 𝘀𝘁𝗮𝘁𝗲 𝗼𝗳 𝗲𝗺𝗲𝗿𝗴𝗲𝗻𝗰𝘆

Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah has decided not to accede to Prime Minister Muhyiddin Yassin's request to declare a state of emergency.

The ruler, in a statement, also rebuked MPs who are politicking and asked them not to proceed with any action that could threaten the stability of the government.

The statement which was released through the comptroller of the royal household, Ahmad Fadli Shamsuddin, came less than an hour after a meeting of Malay rulers concluded at Istana Negara.

The meeting was to provide guidance to the Agong on his decision.

The statement noted that Muhyiddin had put forward a proposal to the king on Friday.

"The request is to implement a state of emergency under Article 150(1) and Proclamation of Emergency (Essential Powers) Ordinance 2020 under Article 150(2B) of the Federal Constitution to combat the Covid-19 pandemic in the country.

"After considering the request and discussing with the Malay rulers as well as taking into account the situation in the country, Sultan Abdullah feels that the government has done well in handling the pandemic effectively.

"His royal highness believes in the government's capability under the prime minister to continue implementing policies and enforcing actions to curb the spread of Covid-19.

"Sultan Abdullah is of the opinion that, for the time being, there is no need for his royal highness to declare a state of emergency in the country or any parts thereof," said Ahmad Fadli.

He added that the ruler also reminded politicians to stop politicking and destabilising the government.

Proponents of the emergency move had said that it was necessary to combat Covid-19 but critics claimed Muhyiddin was trying to cling on to power amid fears that rebels within his government could turn on him during the Budget 2021 vote next month.

The ruler, in the statement, appears to discourage any such move.

"Sultan Abdullah was also of the opinion that there was no need for MPs to continue with their irresponsible action that could threaten the stability of the current government.

"His royal highness stressed that Budget 2021 which will be tabled in Parliament is of utmost importance to the people in combating Covid-19 and reviving the economy.

"Those in the frontline desperately need the financial allocation so that they can conduct their duties smoothly," said Ahmad Fadli.

Ahmad Fadli said the ruler took cognisance of the people's concern about the rising Covid-19 cases in the country and urged the people to unite in fighting the pandemic.

"His royal highness called on all people, regardless of background and particular political ideology, to set aside their differences and disagreements and unite as one in assisting the government and authorities to curb Covid-19 for their safety and well-being of the country that we love," he said.

He also urged the people to join him in prayer so that the country will be successful in ending the pandemic.

Cabinet decides in favour of emergency  - Diyana Ibrahim, 23-10-20, 3:10PM THE cabinet has decided to implement an emerg...
24/10/2020

Cabinet decides in favour of emergency - Diyana Ibrahim, 23-10-20, 3:10PM
THE cabinet has decided to implement an emergency amid political instability and the Covid-19 pandemic, a source told The Malaysian Insight.
“Seems like a done deal,” said the source privy to the three-hour special cabinet meeting in Putrajaya this morning.
“They just need to repackage the word ‘emergency’ so that the public won’t panic. They won’t call it ‘darurat’ but will give it a new name. Something for Covid-19,” said the source.
Meanwhile, another source told The Malaysian Insight that Prime Minister Muhyiddin Yassin will have an audience with the Yang di-Pertuan Agong at 4pm today on the emergency decision.
It had been speculated that Muhyiddin will call for an “emergency” at the special cabinet meeting today. The cabinet is also rumoured to have discussed Budget 2021 and the upcoming Parliament session that begins on November 2.
Earlier today, national news agency Bernama reported Prof Dr Shamrahayu A. Aziz’s explanation on what a state of emergency means and what the government can do during such a period.
Several other news agencies also published speculative stories, suggesting Muhyiddin is aiming to declare an emergency to allow the government to bypass Parliament.
A source told Singapore Straits Times: “It will not be similar to the curfews and military presence we had after the 1969 race riots.”
“Instead, normal life under the movement control-order will continue without politics getting in the way of dealing with a health crisis.”
Politically, Muhyiddin has come under pressure lately with Umno threatening to withdraw its support from the government that currently has 113 MPs in Parliament.
Amid the pressure from Umno, Pakatan Harapan chairman Anwar Ibrahim had also met the king on September 23 and said that he had enough MPs to support him to be prime minister.
The last time Malaysia announced a national emergency was in 1969, following the May 13 race riots. – October 23, 20

BYE BYE... China
05/03/2020

BYE BYE... China

With the U.S.-China trade war last year and the outbreak of the new coronavirus, American technology firms have looked to move production from China. But that won't be easy.

Gold prices rally as Fed announces a surprise interest-rate cutGold futures rallied on Tuesday, with the haven metal up ...
03/03/2020

Gold prices rally as Fed announces a surprise interest-rate cut

Gold futures rallied on Tuesday, with the haven metal up a second session as the Federal Reserve announced a surprise cut to interest rates, citing the risks to the economy from the COVID-19 epidemic.

In a statement, the Fed said it had decided to cut its benchmark federal funds rate by a half-point to a range of 1%-1.25%. While the economic fundamentals are strong, a rate cut was necessary in light of the risk to economic activity from the COVID-19, the Fed said.

Gold’s “uptrend has been helped by the Fed rate cut today and global economic pullback,” and with political headlines coming in from Super Tuesday, haven buyers are now adding to positions in the precious metal, George Gero, managing director at RBC Wealth Management, told MarketWatch. Gold tends to attract buyers in a low interest-rate climate.

April gold GCJ20, +2.53% on Comex picked up $42.10, or 2.6%, at $1,636.90 an ounce, after gaining 1.8% on Monday. It fell nearly 5% on Friday—the biggest one-day percentage loss since the week ended June 20, 2013.

May silver SIK20, +3.35%, meanwhile, rose 61.1 cents, or 3.7%, at $17.35 an ounce, following a 1.7% advance in the previous session.

Bullion bulls say that gold has enjoyed a bounce so far this week because it was oversold last week, as the market reaction to news of the spread of the infectious disease that originated in China in December produced frenetic swings in asset prices and an unusual spate of selling in precious metals as investors sought to raise cash.

“The safe-haven metals are also getting a bid after the Group of Seven finance ministers released a statement...that offered no specifics on dealing with the coronavirus outbreak,” wrote Jim Wyckoff, senior analyst at Kitco.com, in a Tuesday research report.

Still, finance ministers and central bankers from the group of the seven world’s largest advanced economies said they stood ready to act to address the coronavirus, suggesting a willingness to use fiscal and monetary policy measures.

Following the Fed announcement Tuesday, U.S. stocks surged, with the Dow Jones Industrial Average DJIA, -1.21% up more than 200 points, a day after booking its best daily percentage gain since 2009.

“Gold’s status as a safe haven asset remains unchecked,” said Ryan Giannotto, director of research at GraniteShares, which offers the GraniteShares Gold Trust BAR, +3.55% adding that gold has climbed year to date, despite Friday’s big retreat.

“By contrast, U.S. equities remain in firmly negative territory,” even after Monday’s rally, he said. “The fact that institutional traders could rely on gold for collateral after suffering appalling losses in equities markets demonstrates gold’s store of value.”

“The Fed’s emergency cut only underscores this point,” said Giannotto. “When market turmoil is so pervasive that the tumult extends to even gold itself, these are the moments when gold may be needed most. Today’s emergency cut emphasizes this point, with gold rallying 17.5% over 12 months after the previous rate cut during the crisis.”

Among other metals, May copper HGK20, -1.14% shed 0.8% to $2.5735 a pound. April PLJ20, +1.86% added 2.1% to $877.90 an ounce, while June palladium PAM20, -0.79% fell by 1.7% to $2,387.10 an ounce.

Price of Gold Fundamental Daily Forecast – Supported by Stimulus, Lower Growth Forecasts, Recession TalkGold should cont...
18/02/2020

Price of Gold Fundamental Daily Forecast – Supported by Stimulus, Lower Growth Forecasts, Recession Talk

Gold should continue to catch a bid because a weakening global economy and stimulus tend to be bullish for prices. The market could really start to take off to the upside if the major central banks in the region are forced to make rate cuts they have recently said are unnecessary.

The Comex gold market is closed because of a U.S. bank holiday, but there was news on Monday that could influence gold prices over the near-term. In China, the government announced more stimulus measures to help offset the impact of the coronavirus on the Chinese economy, New Zealand lowered its growth forecast and lower GDP moved Japan closer to recession. All of these events are supportive for gold prices.

China Announces More Stimulus Measures
On Monday, China moved to cut its medium-term lending rate. The decision is expected to pave the way for a reduction in the country’s benchmark interest rate as policymakers sought to ease the damage from the virus outbreak that has seriously disrupted activity.

Emerging market currencies and equities started the week on firm footing as the move is expected to soothe investors’ anxiety around the economic blow from the coronavirus outbreak.

A rebound in the emerging market currencies could put pressure on the U.S. Dollar. A lower U.S. Dollar is good for gold prices because it tends to increase foreign demand for the dollar-denominated asset.

Reuters is also reporting that China is planning targeted tax cuts while increasing government spending, Finance Minister Liu Kun wrote Sunday in China’s Communist Party magazine Qiushi.

The Ministry of Finance said Saturday that it would provide 8 billion yuan in a second round of support for virus prevention and control efforts. As of Friday, all levels of finance ministries in China had allocated 90.15 billion yuan in support, according to the central government.

Economists expect the People’s Bank of China to step up its liquidity measures to ease funding conditions in Chinese money markets to combat downside risks posed by the infection.

New Zealand Lowers Growth Outlook

New Zealand Prime Minister Jacinda Ardern said her country’s GDP is expected to slow to around 2 percent to 2.5 percent this year, due to the economic effect of the coronavirus epidemic.

Ardern said the forecasts were from the treasury which had previously predicted a GDP growth of 2.2 percent to 2.8 percent. She said the repercussions will be seen in the first two quarters of the year.

“Treasury expect things to return to normal in the second half of 2020,” she told a news conference on Monday.

Although New Zealand has not recorded any cases of coronavirus, its tourism industry is highly dependent on the inflow of Chinese travelers.

Japan Moves Closer to Recession
Japan has suffered its worst quarterly GDP contraction in more than five years, with a tax hike and a deadly typhoon taking a toll on the world’s third-largest economy.

Japan’s gross domestic product (GDP) in the three months to December shrank 1.6 percent from the previous quarter, even before the novel coronavirus outbreak in China hit Japan, according to official data published on Monday.

Economists were braced for a contraction of around one percent but had not expected such a poor figure, with Takeshi Minami, chief economist at Norinchukin Research Institute, saying it was “quite an undershooting”.

Monday’s data snapped four quarters of growth and was the biggest contraction since the second quarter of 2014 when the economy shrank 19 percent.

Economists are now carefully watching to see what impact the new virus will have on the world’s third-largest economy, as it hits Japanese companies’ manufacturing activities and tourism.

Japan has only a “bleak” prospect of returning to growth in the first quarter of this year, said Minami.

Short-Term Outlook

Gold should continue to catch a bid because a weakening global economy and stimulus tend to be bullish for prices. The market could really start to take off to the upside if the major central banks in the region – Reserve Bank of Australia and Reserve Bank of New Zealand – are forced to make rate cuts they have recently said are unnecessary.

26/11/2019

Posted on 26th Nov 2019 (Tuesday)
Interview Date : 30th Nov 2019 (Saturday)

MNC Company : Benchmark Electronics
Please extend CV prior shortlisted Interview

Job Description :

Provide multiple sites leadership in the ex*****on and strategy development of materials procurement for multiple sites worldwide
Coordinate materials requirement to support product lines of assigned divisions
Develop the plans required to complete the economic acquisition of components, subassemblies and equipment, keeping wihtin the parameters of the prime contract, CAR and the Company’s policies and procedures
Establish and direct materials programs and projects that provide specialized materials planning, surveillance, budgets and controls
Plan and direct the coordination of Materials Cost inputs required to support proposals and present results to cognizant operation divisions’ Management
Foster and maintain a sound and reliable working relationship with all suppliers and respective managemnt, resolving any major materials problem that may arise
Oversee prioritization of assignments and plan, budget, organize and direct flow of work to meet both internal and external expectations
Utilize Continuous Improvement principles and dirve efficiencies and quality enhancements within department
Lead staff through effective hiring, development, utlization, inspiration and counselling
Ensure a work environment that will foster openness, commitment, discipline, career growth and both an internal and external customer focus
Maintain a current best practice knowledge and deployment within Supply Chain management, regularly participate in and utilize industry leading best practice resources to continually upgrade function and employees’ capabilities

Requirements :

Degree in Logistics and Supply Chain Management, Engineering, Business Studies or equivalent
More than 10 years of experience in Supply Chain Management; at least 5 years in a Director role
Strong negotiating and partnering skills
Demonstrate effective written and oral communication
Effective analytical, planning and organizational skills
Effective problem solving skills and ability to make sound business decisions
Effective interpersonal skills, both internally and externally
Strong leadership skills and the ability to develop, lead and inspire teams
Ability to exercise discretion and independently drive solutions to complex business issues
Demonstrate effective risk management and project management skills

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