On Thursday, a Malaysian official said that Kuala Lumpur will host the ninth Forbes Global CEO Conference (FGCC).

The basic aim of the three-day conference, commencing on Sept. 28, is to enhance the position of Malaysia as an ideal business location, explained Malaysian International Trade and Industry Minister, Mustapa Mohamed.

He said that it is the first time that Malaysia is hosting such a conference. He thinks that the nation has made a good chance for networking and growing business relationships with tremendously powerful and rich leaders.

It has appeared that interest rates have been kept on hold at 2% by Malaysia's central bank for its fourth consecutive policy meeting on Tuesday, as expected.

Bank Negara Malaysia expressed that the recent financial and economic indicators point towards a stabilization in economic conditions.

The bank added that recent deflation had a short effect because of falling fuel prices and easing pressure on food prices.

In December 2007, a 32-year old Muslim woman, Kartika Sari Dewi Shukarno, was caught by Islamic morality police for drinking beer at a beach resort, following which she was sentenced by a Shariah court to six lashes of a rattan cane. The sentence, which was supposed to be executed this week in a prison, was delayed on Monday until after the holy fasting of Ramadan, which ends in mid-September.