Details are pictured on the backside of an Apple Iphone 6 on a table in a restaurant in Hanau, Germany, April 10, 2016. REUTERS/Kai Pfaffenbach
Energy
Brent crude rose 1.38% to US$46.37 per barrel at 3.23pm.
Forex
Ringgit up 0.34% to 3.9155 versus the US dollar at 3.47pm.
Top foreign stories
As iPhone sales slump, Apple bets on services from apps to music: Apple Inc’s first-ever drop in quarterly iPhone sales has spurred chief executive Tim Cook to turn the spotlight on prospects for its services business, but the field is rife with competition and may prove challenging for a brand based on gadgets. — Reuters
Singapore’s MAS says policy provides appropriate economic support: Singapore’s central bank, the Monetary Authority of Singapore (MAS), said recent monetary policy easings will support the economy and boost inflation over the next two years against a backdrop of weakening growth among the city-state’s key trading partners. - Reuters
US Fed set to keep rates unchanged, may nod to ebbing risks: The US Federal Reserve is expected to keep interest rates unchanged on Wednesday as it continues to monitor the impact from weakening global growth but may seek to signal to markets it is determined to resume policy tightening this year. — Reuters
Nestle agrees on ice cream joint venture with UK’s R&R: Nestle has struck a deal with Britain’s R&R Ice Cream to form a joint venture that will sell ice cream and frozen food in over 20 countries, its latest attempt to adapt to a changing and more competitive packaged food market. — Reuters
Nomura slips to Q4 net loss, first quarter in red since 2011: Nomura Holdings Inc, Japan’s biggest brokerage, said it slid to its first quarterly net loss since 2011 as its wholesale division fell into the red, its retail division weakened and its overseas operations lost money for a sixth straight year. — Reuters
Top local stories
Ibrahim is new Bank Negara governor: Deputy governor of Bank Negara, Datuk Muhammad Ibrahim, has been appointed the new governor for five years, effective from May 1, according to the Prime Minister’s Office on Wednesday. — StarBiz
MPI earnings up nearly 30% to RM38m, declares 15 sen dividend: Chipmaker Malaysian Pacific Industries
Bhd (MPI)’s earnings for the third quarter rose 29.2% to RM38.99mil on a slightly higher revenue of RM352.12mil versus RM351.27mil previously. The board, which declared a 15 sen per share dividend, expects the operating environment to remain challenging. — StarBiz
MMHE posts RM7.5mil net loss in first quarter: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) recorded a net loss of RM7.58mil in the first quarter on significantly lower revenue and operating loss from the offshore segment, due mainly to lower backlog from most projects nearing completion. Its revenue fell to RM256.72mil against RM719.5mil a year earlier. — StarBiz
MMS Ventures optimistic of 20% sales growth in H1: MMS Ventures Bhd, which is involved in the design and manufacture of LED and semiconductor industrial automation systems and machinery, is optimistic of a 20% sales growth in the first half this year, driven by the automotive sector. — Bernama
Willowglen eyes TNB contracts: Willowglen MSC Bhd is eyeing Tenaga Nasional Bhd (TNB) contracts and its managing director Wong Ah Chiew says the company can be a substation control automation supplier to the utility. — StarBiz
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