Latest news with #PCE
New Straits Times
a day ago
- Business
- New Straits Times
Ringgit extends downtrend against US dollar
KUALA LUMPUR: The ringgit continued to end lower against the greenback on Thursday, weighed down by emerging concerns over the global financial outlook, a dealer said. At 6pm, the local note slid to 4.2590/2625 versus the US dollar from yesterday's close of 4.2500/2550. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit depreciated to as low as RM4.2633 during the morning session as the United States Federal Open Market Committee (FOMC) members were reluctant to cut rates excessively in light of concerns over higher inflation risk in the second half of 2025. "This was reflected in their latest quarterly forecast of Personal Consumption Expenditures Price Index (PCE) inflation, which is expected to reach 3.0 per cent for 2025 versus the actual figure of 2.1 per cent in April 2025," he told Bernama. He added that sentiments will remain guarded as the market participants are wary of the potential escalation of the Israel-Iran conflict. Conversely, the ringgit traded higher against a basket of major currencies at the close. It rose against the British pound to 5.7164/7211 from 5.7218/7285 at the close on Wednesday, gained vis-à-vis the euro to 4.8868/8908 from 4.8888/8945 yesterday and appreciated versus the Japanese yen to 2.9286/9312 from 2.9322/9359 previously. The ringgit was also higher against its ASEAN peers. It advanced versus the Indonesian rupiah to 259.5/259.9 from 260.5/260.9 on Wednesday, strengthened against the Singapore dollar to 3.3072/3102 from 3.3074/3115 yesterday, and was up vis-à-vis the Thai baht to 12.9966/13.0513 from 13.0240/0449 previously. The local unit also rose against the Philippine peso to 7.41/7.42 from 7.46/7.48 at yesterday's close.
Yahoo
2 days ago
- Business
- Yahoo
Fed holds rates steady, stays on track for 2 cuts in 2025
The Federal Reserve held interest rates steady Wednesday for the fourth meeting in a row and kept a projection for two rate cuts this year. The central bank voted unanimously to maintain its benchmark interest rate in the range of 4.25%-4.5%. The Fed has now held rates at that level for six months since last cutting in December. Fed officials still see two rate cuts this year, the same amount projected in March, amid uncertainty of how the Trump administration's policies from tariffs to immigration to tax policy will impact the economy. What the central bank did change, however, was its outlook on inflation and economic growth amid those uncertainties. Fed officials now see inflation staying higher this year than previously estimated and economic growth going lower than prior predictions. They estimate that the core Personal Consumption Expenditures (PCE) measure of inflation will be 3.1%, compared with 2.8% previously. Though they see that dropping back to 2.4% in 2026. And the US economy is now projected to grow at an annualized pace of 1.4% instead of 1.7%. The unemployment rate is seen edging up to 4.5% from 4.4% previously. 'Uncertainty about the economic outlook has diminished, but remains elevated,' officials said in their policy statement. That language marked a change from uncertainty around the economic outlook increasing further. The Fed officials said they are attentive to the risks to both sides of their dual mandate, but removed language that previously said "the risks of higher unemployment and higher inflation have risen." Eight officials see two rate cuts this year, while seven saw no cuts this year. Two saw one cut and two saw three cuts this year. While recent readings on inflation have shown milder increases in prices even as tariffs were turned on full blast, Fed officials retained language in their statement that inflation 'remains somewhat elevated.' The decision by the Fed to hold rates steady again will likely not please Trump, who has called on Fed Chairman Jerome Powell privately and publicly to cut rates — even saying last week that he "may have to force something." Ahead of the Fed's rate decision Wednesday, Trump again spoke extensively to reporters about his displeasure with Powell. 'I call him 'too late Powell' because he's always too late," Trump said, adding that "I think he hates me" and musing about appointing himself to the Fed. "Maybe I should go to the Fed; I'd do a much better job." Trump has been citing lower inflation as a reason for the central bank to cut, and he did so again on Wednesday. 'We have no inflation, we have only success," Trump said. "I'd like to see interest rates go down." But Powell and many of his fellow policymakers have made it clear in recent weeks they are still more worried about the risks of higher prices from Trump's tariffs than any rise in unemployment as they weigh both sides of their dual mandate. Read more: How much control does the president have over the Fed and interest rates? Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Tribune
4 days ago
- Business
- Daily Tribune
Alba successfully migrates to Rise with SAP Private Edition
Aluminium Bahrain B.S.C. (Alba), the world's largest smelter on one site, announces the successful migration to RISE with SAP Private Cloud Edition (PCE). This milestone, completed in partnership with SAP's Customer Success & Delivery (CS&D) team, advances Alba's digital transformation journey. This strategic move provides Alba with a modern, scalable, and high-performance digital platform. It will enable enhanced functionality, an improved user experience, and powerful analytics, all crucial for navigating the evolving industrial landscape. Commenting on this achievement, Ali Al Baqali, Alba's Chief Executive Officer, stated: 'Our migration to Rise with SAP Private Cloud is more than a technological upgrade; it's a strategic leap forward. This advanced digital infrastructure will not only streamline our operations but more importantly, it will empower our teams with real-time insights, enabling faster, more informed decisions that drive productivity and sustain our competitive edge in the market.' Saquib Ahmad, Managing Director for SAP Bahrain, added, 'This complex deployment serves as a powerful example of remarkable outcomes achievable through a strong partnership between a forward-thinking customer and a dedicated delivery team. Completed within a ninemonth completion time frame, we have ensured the seamless transformation, paving the way for sustained digital innovation across the region's industrial landscape.' The project involved a highly complex, brownfield conversion from SAP ERP 6.0 EHP 8 to SAP S/4HANA 2022. This included the migration of satellite systems, technical code remediation, and the integration of SAP Fiori and SAP Analytics Cloud. The success was underpinned by the close collaboration between Alba and SAP's CS&D team, leveraging global experts and regional capabilities throughout the conversion and cutover phases.
Biz Bahrain
5 days ago
- Business
- Biz Bahrain
Alba Successfully Migrates to Rise with SAP Private Edition
Aluminium Bahrain B.S.C. (Alba), the world's largest smelter on one site, announces the successful migration to RISE with SAP Private Cloud Edition (PCE). This milestone, completed in partnership with SAP's Customer Success & Delivery (CS&D) team, advances Alba's digital transformation journey. This strategic move provides Alba with a modern, scalable, and high-performance digital platform. It will enable enhanced functionality, an improved user experience, and powerful analytics, all crucial for navigating the evolving industrial landscape. Commenting on this achievement, Ali Al Baqali, Alba's Chief Executive Officer, stated: 'Our migration to Rise with SAP Private Cloud is more than a technological upgrade; it's a strategic leap forward. This advanced digital infrastructure will not only streamline our operations but more importantly, it will empower our teams with real-time insights, enabling faster, more informed decisions that drive productivity and sustain our competitive edge in the market.' Saquib Ahmad, Managing Director for SAP Bahrain, added, 'This complex deployment serves as a powerful example of remarkable outcomes achievable through a strong partnership between a forward-thinking customer and a dedicated delivery team. Completed within a nine-month completion time frame, we have ensured the seamless transformation, paving the way for sustained digital innovation across the region's industrial landscape.' The project involved a highly complex, brownfield conversion from SAP ERP 6.0 EHP 8 to SAP S/4HANA 2022. This included the migration of satellite systems, technical code remediation, and the integration of SAP Fiori and SAP Analytics Cloud. The success was underpinned by the close collaboration between Alba and SAP's CS&D team, leveraging global experts and regional capabilities throughout the conversion and cutover phases.
Yahoo
13-06-2025
- Health
- Yahoo
Who needs a statin? New Intermountain Study compares prescribing recommendations based on traditional risk factors vs. coronary artery calcium scoring
MURRAY, Utah (ABc4 Utah) – A new study by researchers at Intermountain Health in Salt Lake City aims to determine the best method to screen and evaluate patients who are at risk of developing coronary heart disease to identify those who would benefit from statin medication to lower their cholesterol. Currently, cardiologists determine a patient's need for a statin medication based on traditional risk factors, which includes using the Pooled Cohort Equation (PCE) to determine their risk. The PCE method calculates coronary risk by assessing risk factors of age, sex, total and HDL cholesterol levels, blood pressure, and whether someone has diabetes and is a smoker. However, a new approach to determining risk and selecting a statin is the use of the coronary artery calcium (CAC) score, which is determined by taking a low-radiation dose image of the heart using computed tomography – a CT scan – to look for calcium deposits in plaques in the heart's coronary arteries. Which approach is more effective? The new study aims to find out. 'Our study is now fully enrolled with over 5,600 patients, and in this abstract, we wanted to look at baseline characteristics and differences in statin prescribing recommendations,' said Jeffrey L. Anderson, MD, co-principal investigator of the study and distinguished clinical and research physician at Intermountain Health. 'The question we want to answer is whether we can do a better job in selecting people who need a statin for primary coronary risk reduction by using the coronary artery calcium score, rather than just putting coronary risk factors into an equation,' said Dr. Anderson. 'That is, is it more effective to use direct imaging to assess evidence of plaque burden or a risk probability equation? That's what we're aiming to find out.' The new study was presented on March 29 at the American College of Cardiology's Annual Scientific Sessions meeting in Chicago. The research is part of CorCal Outcomes, a large, randomized clinical trial at Intermountain Health that is comparing the PCE versus CAC score guidance to initiate a statin prescription for patients for primary prevention of coronary heart disease. Since 2019, Intermountain heart researchers have enrolled 5,615 patients into the study, with patients having an average age of 64.1 years old, and 51.3% of the study subjects being women. 'This CorCal Outcomes study has been a systemwide, eight-year effort to complete enrollment,' said Dr. Anderson. Intermountain patients at risk of coronary disease were invited to enroll in the study, and those agreeing to participate were randomized into two groups: those assessed using the PCE or those evaluated using their coronary artery calcium score. Results of scoring by their assigned risk assessment tool were sent in letters to their personal physicians, including whether a statin was recommended based on a high-risk score. Patients in the two groups in the study were found to have very similar baseline characteristics. However, researchers found that the rate of statin medication recommendations were different. The study is expected to conclude in early 2026, at which time a comparison of outcomes, including deaths, heart attacks, strokes, and revascularizations during up to seven years, and an average of over four years, of follow-up will be made. For the enrollment phase, researcher found a recommendation to start a statin was made much more often based on the PCE. In the PCE group, 50.7% of patients were recommended a statin, with another 21.7% to be considered for one. By contrast, in the CAC group, only 22.3% of patients were recommended a statin. This large difference in statin recommendations appears to be explained by the strong influence of older age in recommending a statin by the PCE and, in contrast, the frequent finding of a zero or low CAC score in many older patients, leading to a no-statin recommendation in them. Knowing which score is most effective is important, said Dr. Anderson, so that physicians can get statin medication to the right people, and not prescribe statins to those who don't need it. This is especially important considering that statins entail costs and can have side effects, including muscle aches and an increased risk of diabetes. 'We know there's a huge difference in prescribing recommendations, and next year we are anxious to see the impact of these differences on outcomes,' said Dr. Anderson. 'These findings can have a huge impact on how we practice preventive medicine in the future and how many and whom we put on a statin or other lipid-lowering drugs.' Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Sponsored by Intermountain Health. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
