Top foreign and local stories at 4pm

Axiata Group will use proceeds from the Sukuk issuance for general corporate purposes

Energy

Brent crude was 0.47% lower to US$32.03 per barrel at 2.14pm.

Forex

Ringgit dowm 1.61% to 4.2210 versus the US dollar at 2.38pm.

Top foreign news

Cameron holds crunch Brexit talks: British Prime Minister David Cameron entered the final stretch of negotiations to keep his country in the EU on Wednesday ahead of a crunch summit, after the European Commission’s chief insisted a so-called Brexit is not an option. — AFP

EU battered by storm of crises: The European Union is being battered by a perfect storm of crises that threaten to rip apart the peaceful and prosperous 28-nation bloc that rose from the ashes of World War II. It is grappling not only with the threat of a British exit, or “Brexit,“ but also with an unprecedented migrant influx, continued fallout from the debt crisis and an array of security threats, both domestic and foreign. — AFP

Obama announces measures to deepen economic ties with SEA: US President Barack Obama on Tuesday announced a package of measures designed to boost South-East Asian economies, betting that the fast-growing region can be an ever more important trade partner. The plan will establish three economic offices - in Jakarta, Bangkok and Singapore - “to better coordinate our economic engagement and connect more of our entrepreneurs, investors and businesses with each other.” — AFP

Indonesia central bank seen cutting key rate again: Indonesia’s central bank, which kept its benchmark reference rate unchanged for nearly all of 2015, is expected to make its second cut this year on Thursday as it tries to bolster the country’s sluggish growth. — Reuters

Boeing wins US$1.3b buy commitment from China’s Okay Airways: Boeing said on Wednesday it has won a commitment from China’s Okay Airways to buy 12 aircraft from the 737 family in a deal worth US$1.3 billion. The deal is subject to the approval of the Chinese government. — AFP

Top local news

Axiata posts record revenue of nearly RM20b in FY15: Axiata Group Bhd’s revenue increased 6.2% to RM19.88bil - its higher ever - for the financial year ended Dec 31, 2015, and expects to see a stronger recovery at Celcom and further traction from XL. Its earnings rose 8% to a record of RM2.55bil from RM2.36bil a year earlier. - StarBiz

MAHB posts Q4 net loss of RM42.9m on Turkish ops: Malaysia Airports Holding Bhd (MAHB) swung into the red in the final quarter of FY15 when it sustained losses from the Turkey operations. MAHB announced on Wednesday it posted net losses of RM42.90mil in the fourth quarter compared with earnings of RM577.73mil a year ago. Loss per share was 6.34 sen compared with earnings per share of 42.73 sen before. Revenue increased to RM1.03bil from RM711.33mil a year earlier. - StarBiz

Zeti unlikely to stay for another term: Tan Sri Dr Zeti Akhtar Aziz said she will not stay on for another term as Bank Negara governor. The process of finding a successor is being undertaken by the Governance Committee of the Bank Negara board which comprises independent directors from the private sector. She said while the process for her successor was in place, there was no request for her to stay on. - Bernama

Islamic banks launch investment account platform: Six Islamic banking institutions on Wednesday launched the first bank-intermediated financial technology (fintech) platform, known as the Investment Account Platform (IAP). — Bernama