Energy
Brent Crude was 0.53% higher to US$49.78 per barrel at 2.28pm.
Forex
Ringgit was up 0.57% to 4.3145 versus the US dollar at 2.53pm.
Top foreign stories
RBA: Australia economy flexible: Australia’s falling exchange rate, flexible labour force and record low interest rates are all helping to support the economy, a top Australian central banker said on Wednesday, but the country will have to get used to less growth from China. — Reuters
China changes GDP data calculation method: China’s statistics bureau said on Wednesday it has changed the way quarterly gross domestic product data is calculated, a move it calls a step to adopt international standards and improve the accuracy of Chinese numbers. — Reuters
Indonesia to unveil “massive” deregulation package: Indonesia is set to announce what President Joko Widodo called a “massive” deregulation package, aimed at luring more investment and supporting a currency that has weakened to 17-year lows. The package “should bring progress” for the economy, Widodo said on Twitter on Wednesday. — Reuters
Dubai property developers upbeat despite falling prices: Dubai property developers are still turning out some larger-than-life projects even though prices are heading south again after clawing back a good chunk of their losses in the 2008 crash. The Gulf emirate’s annual Cityscape property fair opened on Tuesday with developers foreseeing price declines of about 15% this year. — AFP
Top local stories
Bursa issues guidance on rewards and incentives: Bursa Malaysia Securities Bhd on Wednesday issued a guidance on rebates on commissions, allowing equities brokers to offer non-cash rewards and incentives to clients. The exchange said the guidance would further enhance Bursa’s regulatory framework and promote best business conduct among equities brokers. - Bernama
Malaysia seen holding policy rate steady: Bank Negara is expected to hold its benchmark rate at 3.25% at a policy review on Friday amid a plunging ringgit and global market uncertainty, a Reuters poll showed. All 13 economists were unanimous that the central bank will not change its overnight policy rate, due to risks posed to Malaysia’s economic growth by lower commodity prices, capital outflows, the weakened ringgit and a potential rate hike by the US Federal Reserve. — Reuters
GTFS okays 188 green projects worth RM2.2bil: The Green Technology Financing Scheme (GTFS) has approved financing for 188 projects amounting to RM2.2 billion as of June 30, 2015, via 26 participating financial institutions. The approved financing would create over 3,000 green jobs and reduce close to 2.67 million tonnes of carbon emission equivalent, said GreenTech Malaysia chairman Tan Sri Peter Chin Fah Kui. - Bernama
Uggah leads mission to China: Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas will be leading a palm oil and timber promotion mission to China on Sept 10-16. The delegation comprises representatives from his ministry, the Malaysian Palm Oil Board, Malaysian Palm Oil Council, Malaysian Timber Council and the private sector. — Bernama
CDC hosting career carnival for exiting MAS staff: The Corporate Development Centre (CDC), created to support exiting Malaysian Airline System Bhd (MAS) employees, is hosting a Career Carnival on Saturday. The event will be held at the Malaysia Airlines Academy in Kelana Jaya, Petaling Jaya, from 9am to 5pm. — Bernama
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