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Your three-digit credit score is a measure of how well you're managing your finances. There are different types of credit scores lenders may use to gauge risk when lending someone money, including FICO credit scores . Understanding the difference between credit scores and FICO scores and how they work matters for maintaining good financial health. Key Takeaways A credit score is a three-digit number that measures your financial health and how well you manage credit and debt. FICO scores are a specific type of score that lenders can use when making borrowing decisions. The FICO credit scoring system is arguably the most widely used and is calculated using the information included in your credit report. Maintaining a higher credit score can make qualifying for loans and lines of credit easier, as well as help you land favorable interest rates. What Is a Credit Score? A credit score is a numerical representation of financial health, telling lenders at a … [Read more...] about FICO Score vs. Credit Score

- A + A KUALA LUMPUR (Jan 20): Bank Negara Malaysia (BNM) maintained its overnight policy rate (OPR) at 1.75% in its first monetary policy committee (MPC) meeting for the year. The central bank in a statement on Thursday (Jan 20) said the MPC considers the current stance of monetary policy to be appropriate and accommodative. "Fiscal and financial measures will continue to cushion the economic impact on businesses and households and provide support to economic activity. "The stance of monetary policy will continue to be determined by new data and their implications on the overall outlook for inflation and domestic growth," it elaborated. BNM added that headline inflation averaged 2.3% for the period of January-November last year and expected average headline inflation in 2022 to remain moderate as the base effect from fuel inflation dissipates. Meanwhile, underlying inflation as measured by core inflation is expected to edge upwards as economic activity … [Read more...] about BNM maintains OPR at 1.75% in first MPC meeting for 2022

- A + A KUALA LUMPUR (Jan 20): The Malaysia Competition Commission (MyCC) said it will continue to monitor PLUS Malaysia Bhd and Touch 'n Go Sdn Bhd in relation to the implementation of the radio frequency identification (RFID) technology along PLUS highways to ensure they do not breach competition laws. “Taking into account the special responsibilities arising from the dominant positions of both enterprises in the relevant markets, MyCC will continue to monitor the situation from time to time and when any competition concern is identified, the Competition Act 2010 will be enforced," the competition regulator's chief executive officer Iskandar Ismail said in a statement. "Secondly, it is pertinent to remember that innovation-related markets can create uncertainty. Thus, MyCC will work closely with the government to ensure these changes will always serve the consumers’ best interest,” he added. The RFID system implemented by PLUS, the country's largest highway … [Read more...] about I am watching you, MyCC tells PLUS, Touch ‘n Go on implementation of RFID

- A + A TAIPEI (Jan 20): Taiwan will mandate the use of passes that provide proof of Covid-19 vaccination for entry into entertainment venues, the government said on Thursday, as it seeks to reduce infection risks while tackling a small rise in domestic Omicron cases. The Central Epidemic Command Centre said that from Friday entry into venues including bars and nightclubs would require proof of full vaccination, either by showing a physical vaccine card or a new digital card. The centre said the move was needed to minimise the risk of community transmission as Taiwan deals with a small number of domestic infections of the Omicron variant. More than 70% of people in Taiwan have received two vaccine doses and booster shots are currently being rolled out, though only around 10% of residents have had their third shot so far. Taiwan has kept the pandemic well under control thanks to strict border measures enacted early on and a highly efficient tracing system. It … [Read more...] about Taiwan to mandate Covid-19 vaccination proof for entertainment venues

- A + A (Jan 20): German Economy Minister Robert Habeck kicked off a charm offensive targeting major industrial companies and regional leaders this week as the government tries to accelerate its plan to cut emissions and meet elusive climate change goals. Habeck will visit a BMW AG factory in Munich on Thursday (Jan 20) after touring an Airbus SE facility near Hamburg earlier this week. The stops underscore that slashing emissions from transport will be one of the biggest challenges facing Germany’s new coalition government. The tour comes a week after Habeck said the country needs to triple the speed of its emissions reductions to transform Europe’s biggest economy into a climate neutral state by 2045. Meanwhile, companies like Airbus and BMW are looking to Habeck to help spur more government spending to pick up the pace in the transformation. “It’s a task with gigantic dimensions," Habeck said on Tuesday. “Not a day should be wasted.” The European Union … [Read more...] about Germany courts BMW, Airbus in bid to speed up green transition

- A + A SYDNEY (Jan 20): Australian employment raced ahead in December as the jobless rate fell to its lowest point since 2008, showing strength that should help the economy weather the current surge in coronavirus cases across the country. Data from the Australian Bureau of Statistics on Thursday showed employment jumped 64,800 in December, topping market forecasts of a 43,300 rise and adding to November's record jump of 366,000. The unemployment rate fell to 4.2%, from 4.6% in November, the lowest reading since August 2008, when the jobless rate bottomed out at 4%. The ABS noted that to find a result under 4% you needed to go back to the 1970s. Investors reacted by nudging the local dollar up to US$0.7228 on wagers of an early rate increase from the Reserve Bank of Australia (RBA), which has been seeking to drive unemployment to 4% or lower to lift wage growth after years of sub-par gains. The blistering growth in jobs hit a speed bump this month, however, as a … [Read more...] about Australia jobless number dives to lowest since 2008 as case builds for rate rise

- A + A BEIJING (Jan 20): Chinese forces followed and warned away a US warship which entered waters near the Paracel Islands in the South China Sea, the country's military said on Thursday (Jan 20), in the latest uptick in tensions in the disputed waterway. The Southern Theatre Command of the People's Liberation Army noted that the USS Benfold "illegally" sailed into Chinese territorial waters without permission, violating the country's sovereignty, and that Chinese naval and air forces tracked the ship. "We solemnly demand that the US side immediately stop such provocative actions. Otherwise, it will bear the serious consequences of unforeseen events," it added. The US Navy said the Benfold "asserted navigational rights and freedoms in the vicinity of the Paracel Islands, consistent with international law". "At the conclusion of the operation, the USS Benfold exited the excessive claim and continued operations in the South China Sea," 7th Fleet spokesman … [Read more...] about Beijing says it warned away US warship in South China Sea

- A + A SINGAPORE (Jan 20): A small blank-cheque firm backed by state investor Temasek made its Singapore debut on Thursday, marking the first such local listing as Singapore steps up a drive to emerge as a key venue for listings of this type. This came four months after Singapore Exchange (SGX) allowed special-purpose acquisition companies (SPACs) or shell firms to list, easing proposed rules in response to market feedback. The listing of Vertex Venture's SPAC also marks the first major debut of such vehicles in Asia since the frenzy seen in the United States in early 2021 prior to regulatory changes there. "As the first SPAC in Singapore, we had to tread through difficult and unchartered waters," Chua Kee Lock, chief executive officer of Vertex Venture, a Temasek subsidiary, told company executives, bankers, and lawyers at a listing ceremony. With an eye on sectors such as cybersecurity and fintech, Vertex Technology Acquisition Corp raised S$200 million … [Read more...] about Singapore lists first SPAC as Asia investors warm up to blank-cheque firms

- A + A KUALA LUMPUR (Jan 20): CIMB Group Holdings Bhd's indirect 99.99%-owned subsidiary CIMB Bank Bhd on Thursday (Jan 20) issued its US$500 million (RM2.09 billion) worth of debt notes on the Singapore Exchange (SGX). According to CIMB Bank's filing with the SGX on Thursday, the US$500 million debt notes, which pay an annual interest rate of 2.125%, will be listed and quoted on the SGX's Bonds Market at 9am on Friday (Jan 21). It added that the US$500 million debt notes will mature in 2027. The bank, however, did not elaborate on its plans on how to use the proceeds from the bond issue. At Bursa Malaysia as of the time of writing, CIMB's share price fell six sen or 1.13% to RM5.27, giving the bank a market capitalisation of about RM53.87 billion. Over the past one year, the stock has gained 31% from RM4.04. Lam Jian Wyn … [Read more...] about CIMB Bank to issue US$500m bonds for SGX listing

- A + A BERLIN (Jan 20): The German police are investigating 12,000 suspected bogus vaccination certificates in the country, Anadolu Agency quoted local media on Wednesday (Jan 19). An investigation has been launched after fraud related to the 3G (vaccination, testing, and recovery) requirement increased in many areas with 12,000 vaccination certificates forged in various states, according to the German News Agency. It was stated that fraud is widespread on the messaging application Telegram and these certificates can be obtained for 200-300 euros (RM951-RM1,427). It is not possible for the law enforcement agencies to determine the actual number of fake vaccine documents in circulation at the moment, the agency said. The contract of Markus Anfang, the coach of Werder Bremen, a German second football league team, was terminated and an investigation was launched after it was revealed that he had used a fake vaccination certificate. The German government has … [Read more...] about German cops investigating 12,000 fake vaccine certificates