NST Online Business Times : latest
NST Online Business Times : latest |
| Short-term rates to remain stable Posted: 11 Dec 2013 06:38 PM PST KUALA LUMPUR: Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia intervenes to reduce excess liquidity from the financial system. The central bank estimated today's liquidity at RM22.13 billion in the conventional system and RM4.62 billion in Islamic funds. Bank Negara will conduct three conventional money market tenders comprising two RM1.0 billion for seven and 28 days respectively, and RM500 million for 21 days. It will also call for Three Al-Wadiah tenders of RM900 million for seven days, RM700 million for 19 days and RM300 million for 28 days.
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| Slower global freight growth over 5 years Posted: 11 Dec 2013 06:40 PM PST GENEVA: International freight volumes are expected to grow just 17 per cent over the next five years, according to the International Air Transport Association (IATA). This consensus outlook incorporates a conservative estimate of the recovery in global economic activity and world trade volumes over the coming years, the association said in its IATA Airline Industry Forecast 2013-2017. IATA's director general and chief executive officer, Tony Tyler said air cargo is a key enabler for the movement of high value products and perishable goods around the globe. "More than US$6 trillion worth of goods are air freighted annually, accounting for around 35 per cent of total world trade. But more recently, the relationship between international trade and gross domestic product (GDP) has broken down, owing to rising trade barriers and 'on-shoring' of production.
"To be ready to take best advantage of possible opportunities, air cargo needs to work together as an industry, to improve competitiveness and enhance the quality of its service to customers," he added. IATA said international freight volumes are expected to grow at a five-year compound annual growth rate (CAGR) of 3.2 per cent. It said the largest (United States) and the third largest (China) air freight markets in 2012 are likely to add more than one million additional tonnes each over the forecast period. "As a result, China will supplant Germany as the second largest air freight market in 2017," it added. IATA said Hong Kong and the United Arab Emirates (UAE) will both contribute more than 700,000 tonnes each to the additional freight volume during the five- year period until 2017. "The estimated imbalance in annual freight traffic flows from Asia to North America is expected to reach 1.1 million tonnes in 2017," it added. According to IATA, by 2017, the five largest international freight markets will be the United States, China, Germany, Hong Kong and the UAE. It said Vietnam is expected to be the fastest growing country for air freight volumes over the forecasting horizon with a CAGR of 6.6 per cent per annum, followed by Bangladesh (5.7 per cent), Brazil (5.5 per cent), Ethiopia (5.3 per cent) and Peru (5.2 per cent). IATA said freight carriage within the Asia Pacific region will account for around 31 per cent of the expected total increase in freight tonnage over the period. -- Bernama
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