Pound sterling and the euro hover above their post-Brexit lows. Reuters
Energy
Brent crude was 0.26% lower to US$49.54 per barrel at 3.39pm.
Forex
The ringgit was up 0.07% to 4.0170 versus the US dollar at 3.49pm.
Top foreign stories
Tumble in Singapore factory output raises odds of Oct policy easing: Singapore’s manufacturing output unexpectedly fell 3.6% from a year earlier in July, heightening concerns about the outlook for the city-state’s economy and keeping the pressure on policymakers to deliver more stimulus. — Reuters
Tourism boom lifts Air NZ profit but competition headwinds loom: Air New Zealand said booming tourism helped lift core annual profit by 40% to a record NZ$663 million (US$485 million) in the 12 months ended June, but missed analysts’ estimates as international rivals muscled in on the action, a trend the carrier said would likely squeeze earnings lower this year. — Reuters
China Life to raise overseas investments to 15% of assets: China Life Insurance Co, the country’s biggest insurer by market value, plans to boost its overseas investments to 15% of total assets in coming years from about 2% now, its vice-president said on Friday. The company currently invests US$7.6 billion in overseas assets. — Reuters
British economy escapes Brexit ‘bomb’, for now: The overwhelming view from economists is that it is too early to know how Britain will cope with years of Brexit uncertainty - but there is a growing belief the country can avoid a recession that only weeks ago was regarded as likely. — Reuters
Japan July consumer prices post biggest annual fall in 3 years: Japan’s consumer prices fell in July by the most in more than three years as more firms delayed price hikes due to weak consumption, keeping the central bank under pressure to expand an already massive stimulus programme. The nationwide core consumer price index, which excludes volatile fresh food prices but includes oil products, fell 0.5% in July from a year earlier, the fifth straight month of declines, data showed on Friday. — Reuters
Iran sets terms for cooperating with Opec to stabilise oil market: Iran will help other oil producers stabilise the world market so long as fellow Opec members recognise its right to regain lost market share, the country’ oil minister said on Friday in remarks made ahead of next month’s meeting of the oil exporters group. — Reuters
Top local stories
ASNB has no plans for more fixed price products soon: Amanah Saham Nasional Bhd, a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has no plans to roll out more fixed price products in the near future, says PNB president and chief executive officer Tan Sri Hamad Kama Piah Che Othman. — Bernama
ASW 2020 declares 6.30 sen dividend: Amanah Saham Nasional Bhd, a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), announced on Friday a 6.30 sen dividend for Amanah Saham Wawasan 2020 (ASW 2020) for the financial year ending Aug 31, 2016, down 10 sen from 6.40 sen last year. — Bernama
Bursa Bull Charge 2016 to bring in RM1.8m: The upcoming Bursa Bull Charge 2016, a running event that gathers Malaysia’s chief executive officers as well as youth and young executives, is expected to generate a fund of about RM1.8mil, says Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan. — Bernama
Barakah
expects O&G sector to remain challenging: Barakah Offshore Petroleum Bhd, whose net profit rose 55.5% to RM7.21mil in the second quarter, expects the outlook for the oil and gas industry to remain challenging over the short to medium term. — StarBiz
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