A sign of Alibaba Group is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song
Energy
Brent crude was 0.72% higher to US$49.16 per barrel at 3.19pm
Forex
Ringgit up 0.10% to 4.0780 versus the US dollar at 3.42pm.
Top foreign stories
Global growth tops agenda as G7 meeting kicks off in Japan: Finance ministers and central bankers from the G-7 kicked off meetings in Japan on Friday that could highlight a divide among the club of rich nations over currency policy and how to rev up global growth. - AFP
Samsung strikes deal with Alibaba on mobile payments in China: Samsung Electronics said it had struck a deal with Alibaba Group Holding for owners of its phones to be able to more easily make payments with Alipay accounts – a move it hopes will boost sales in the world’s biggest smartphone market. — Reuters
France: Deutsche Boerse, LSE deal raises competition concerns: The US$30 billion planned merger between London Stock Exchange Group and Deutsche Boerse raises potential competition concerns, French Finance Minister Michel Sapin said on Friday. — Reuters
Top local stories
KNM Group bags RM175m job to build plant in Johor: KNM Group Bhd
has secured a US$43mil (RM175mil) contract to build a plant at Tanjung Langsat Port, Johor, to produce carcinogen-free (green) rubber process oils for synthetic rubber and tyre industries. — StarBiz
Tanjung Offshore to diversify revenue stream: Oil and gas company Tanjung Offshore Bhd plans to widen its revenue contribution, with O&G accounting for 70% and the balance from the non-oil and gas sector in the next five years, said chairman Datuk Dr Nik Norzrul Thani Nik Hassan. — Bernama
Time dotCom sells 68m Digi shares for RM307m: TIME Dotcom Bhd has disposed of all its 68.72 million shares, or a 0.9% stake, in Digi.Com Bhd for RM307.2mil cash. Time dotCom said it will use proceeds from the disposal for working capital. — StarBiz
Higher booze, tobacco prices push April inflation higher: Malaysia’s inflation rate for April rose 2.1% from a year ago on higher alcoholic beverages and tobacco prices. However, the consumer rrice index (CPI) was in line with economists’ survey of 2.1%. — StarBiz
Turbo-Mech aims to boost orderbook to RM50m: Turbo-Mech Bhd aims to increase its orderbook to RM50 million this year from RM20 million now, targeting works in the downstream oil and gas (O&G) sector including maintenance and overhaul services for local and overseas market. — Bernama
Malaysia’s Q1 net international investment falls to RM10.9b: Malaysia’s net international investment position for the first quarter this year recorded a lower net assets position of RM10.9 billion from RM110.3 billion in the fourth quarter of 2015, said the statistics department on Friday. — Bernama
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