KUALA LUMPUR: Standard Chartered Bank Malaysia Bhd has forecast the overnight policy rate (OPR) to gradually increase to 2.75 per cent by mid-2010, said managing director and chief executive officer Osman Morad.

Currently, interest rates stood at two per cent.

“We foresee a gradual rise in interest rates starting from the end of the first quarter this year,” he told reporters after opening its newly-relocated branch at Bandar Puteri in Puchong on Tuesday.

“I think Bank Negara has released their statement to make it very clear that they are concerned about growth and we will probably see a rise in OPR.(Based on) Our own internal forecast, we’ll see a possible two to three increases,” he added.

Meanwhile, Country Consumer Banking Head Tiew Siew Chuen said the bank hoped to upgrade, relocate and renovate 30 to 35 per cent of its premises over the next three years.

She said that it was part of the bank’s efforts to focus on customers’ needs and develop long-term relations with them by offering better banking experience.

Currently, the bank has 33 branches nationwide.

She said Standard Chartered Bank had lots of plans going forward to continuously upgrade its branches across Malaysia. – Bernama

What started out as an MIT project two years ago has now progressed into a full-fledged company — ladies and gentlemen, meet WiTricity Corp. Auntie Beeb (that’s the BBC for you Yanks) has grabbed the firm’s CEO Eric Giler to discuss some pretty aggressive plans for bringing wireless power to the masses. Yes, we’re talking actual through-the-air wireless as opposed to something like Palm’s Touchstone, which requires physical contact between charger and chargee. Based on magnetic induction, the magical technology is apparently mature enough to be deployed in the relatively near future, and if all goes to plan, “near future” could translate into “18 months from now.” Also of note, Intel is hard at work developing the original concept, and if the parallel engineering of the same idea by two companies isn’t enough to get your skepticism dialed down and your browser to the video past the break, what is?

Continue reading Video: WiTricity is back, promises wireless power within 18 months

Filed under: Wireless, Science

Video: WiTricity is back, promises wireless power within 18 months originally appeared on Engadget on Fri, 24 Jul 2009 08:02:00 EST. Please see our terms for use of feeds.

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