MarketWatch: Google Inc's strong quarterly results, which unleashed a massive surge in its shares on Friday, has investors feeling upbeat heading into next week's tech-heavy slate of earnings reports. Wall Street analysts expect earnings of the S&P technology sector to grow by 2.7% for the second quarter. reuters
Top foreign news
Lockheed to buy United Tech's Sikorsky for over US$8bil: Lockheed Martin Corp has agreed to buy United Technologies Corp's Sikorsky Aircraft for over US$8bil, sources said, cementing a deal that would confirm Lockheed's dominance in weapons making and giving the Black Hawk helicopter to the maker of the F-35 fighter jet. - Reuters
Greek banks ready to open today as Merkel urges swift bailout talks: Greek banks are ready to open their branches across the country today after a three-week shutdown, officials said, while German Chancellor Angela Merkel called for swift aid talks so Athens could also lift withdrawal limits. The cautious reopening of the banks, and an increase in value added tax on restaurant food and public transport from today, are aimed at restoring trust inside and outside Greece after an aid-for-reforms deal last week averted bankruptcy. - Reuters
WTO negotiators agree tariff cuts on more IT products: World trade negotiators seeking to eliminate tariffs on information technology (IT) products agreed over the weekend to expand the list of items covered. Participants said the 54 nations had struck a tentative deal to expand to about 200 the IT products on which tariffs would be dropped. The list had an annual trade value of some $1 trillion, the World Trade Organisation said. - Reuters
Top local stories:
AirAsia X
attracts suitors: AirAsia X Bhd has attracted the attention of at least two foreign airlines looking at taking up a stake in the medium haul low-cost airline. Both suitors are premium carriers, one from the Middle East and the other an established airline from Europe, according to an executive familiar with the industry. - StarBiz
CDS rate higher but capped: The cost of insuring Malaysian bonds through credit default swaps (CDS) has increased from a year ago but is unlikely to reach the 200 mark last seen in 2011, according to analysts and economists. As such, the current high cost of insuring Malaysian bonds that are denominated in foreign currency, especially in US dollars, would unlikely see investors trimming their bond holdings and any spike upwards in CDS rates would only be a knee-jerk reaction to uncertain- ties, they added. - StarBiz
CAB Cakaran sees double digit: Poultry supplier CAB Cakaran Corp Bhd expects the financial performance of its nine- month period ended June 30 of its 2015 financial year to improve by a double-digit percentage over the previous year’s corresponding period. Group managing director Chris Chuah said the Tong Huat Poultry Processing Factory business in Singapore had started to contribute positively to the company’s bottom line and revenue in the last four months. - StarBiz
Engtex eyes RM300mil jobs: Engtex Group Bhd, a distributor of pipes, valves, fittings and plumbing materials, is bidding for projects potentially worth RM300mil. Group managing director Datuk Ng Hook said the company was currently bidding for pipe supply contracts for the Langat 2 Water Treatment Plant project, which is scheduled to be completed in 2019. - StarBiz
Sasbadi hot on M&A trail: Syallabus-based content provider Sasbadi Holdings Bhd hopes to seal another merger and acquisition deal within the next few weeks, following its proposed acquisition of Mantissa College.
“We are hopeful to come to an agreement within this financial year ending Aug 31 (FY15),” said co-founder and managing director Law King Hui. Although he did not divulge more, it is understood that Sasbadi will likely sign a deal with a major local Chinese publisher, paving the way for it to move into the Chinese national school segment in a significant way. - StarBiz
Exciting times ahead for Taliworks: Taliworks Corp Bhd, which has a high-powered board, is in for an exciting time ahead. The company’s joint venture with the Employees Provident Fund (EPF), TEI Sdn Bhd, will be the platform for Taliworks to spread its wings in the local infrastructure and utilities scene. It aims to gain a presence in the power generation sector. Taliworks executive director Ronnie Lim Yew Boon said the group is eyeing assets in waste management, toll roads and power generation. - Edge FD
Signature growing from strength to strength: Signature International Bhd is set to end its financial year ended June with a record net profit, having already surpassed earnings for the whole of FY14 in the second quarter ended December 2014. Analysts expect the kitchen sys- tem designer and distributor’s net profit to continue to gain traction over the next two years on the back of a tender book totalling some RM400mil. - Edge FD
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