(Reuters) -Reddit forecast third-quarter revenue above Wall Street estimates on Tuesday, a sign that a recovering digital ad market would draw new advertisers to the social media platform.
GEORGE TOWN: The higher- valued ringgit will benefit manufacturers, travel agents and parents who are supporting their children’s overseas education, says the Small and Medium Enterprises Association Malaysia .
“The flip side, of course, is that their profits will also shrink correspondingly because their foreign earnings can now buy fewer ringgit. Meanwhile, moneychangers who had stockpiled US dollars at higher rates are struggling to sell them at the current lower rates now. Zubeir noted that moneychangers had purchased the US dollar at an exchange rate of RM4.60 last month, which has now dropped to RM4.40.
“The immediate impact may be minimal for companies with ringgit reserves but once depleted, they will feel the rise in costs when converting.
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