Top foreign and local stories at 3.45pm

Energy

Brent crude 0.59% lower to US$37.17 per barrel at 2.11pm.

Forex

Ringgit down 0.30% to 4.3288 versus the US dollar at 2.34pm.

Top foreign stories

As Fed fog lifts, central bankers keep puzzling over China: The world’s central banks are scrambling to assess the risk a slowing China poses to their economies and appear to be no closer than most other observers to working out what is going on in the world’s second largest economy. — Reuters

Japan trade deficit narrows but exports still weak: Japan’s trade balance narrowed last month but exports fell again, particularly to major market China, official data showed on Thursday. The finance ministry said Japan’s November trade deficit shrunk by nearly 58% from a year ago to 379.7 billion yen (US$3.1 billion), beating market expectations of a 480 billion yen deficit. Total exports fell 3.3%. — AFP

Hundreds of large firms paying no tax in Australia: Some 600 of the biggest firms operating in Australia, including Qantas and Glencore, paid no income tax in the 2013-14 financial year, data showed on Thursday as the government vowed to keep targeting loopholes. — AFP

BoJ seen standing pat on interest rate: The US Federal Reserve’s widely expected interest rate hike and its pledge to implement monetary tightening gradually removes one source of uncertainty for the Bank of Japan (BoJ), allowing it to hold off on expanding stimulus at the year’s final BoJ rate review on Friday. — Reuters

HK braces for economic chill ahead of new rate hike cycle: Hong Kong is bracing for greater economic challenges as the prospect of a new cycle of interest rate rises drives fears of capital outflows that could put further pressure on the Asian financial hub. — Reuters

Australian regulator gives banks a break on capital buffer: Australia’s financial watchdog on Thursday said local banks would not have to raise yet more capital to meet global rules, a relief to institutions already facing some of the strictest standards in the rich world. — Reuters

Fosun disappearance stokes fear among China CEOs: The disappearance of Fosun chief Guo Guangchang, dubbed China’s Warren Buffett, has stoked fear among captains of industry who thought good behaviour and loyalty could protect them from Beijing’s ever-expanding anti-graft campaign. — AFP

China 2015 retail sales to rise 10.7%, slower than 2014: China’s retail sales, a key gauge of domestic consumption in the world’s second-biggest economy, is likely to post slower growth this year compared with 2014, the commerce ministry said. Retail sales may expand around 10.7% in 2015, a ministry spokesman said, without giving a reason. Retail sales rose 12% last year. — Reuters

Oil price slide unlikely to scuttle Shell’s takeover of BG: Royal Dutch Shell’s takeover of BG Group may look less attractive after the slide in oil prices but the fact the same investors own nearly half of both firms means the deal is still likely to go through. — Reuters

Tourism spurs economic growth in New Zealand: Big-spending tourists have helped the New Zealand economy grow faster than expected, with official figures on Thursday showing gross domestic product accelerated 0.9% in the July-September quarter. — AFP

Top local stories

Scientex Q1 earnings double to RM61m: Scientex Bhd’s earnings doubled to RM60.85mil in the first quarter on stronger demand for consumer packaging and affordable properties. The industrial stretch film and property-based company said on Thursday its revenue rose 27.7% to RM550.59mil. Earnings per share were 26.94 sen compared with 13.69 sen a year earlier. — StarBiz

Maybank Islamic’s Islamic custody assets growing: Maybank Islamic Bhd, which launched its Islamic Custody Services earlier this year, has so far secured RM9bil in mandates. It said it expects more new clients to come on board by the end of this year, bringing the assets under custody to a total RM13bil. — StarBiz

UDA appoints new chairman: UDA Holdings Bhd has appointed Datuk Mohd Shafei Abdullah chairman, effective Dec 10. He replaces Datuk Johari Abdul Ghani, who was appointed Deputy Finance Minister. — Bernama