Top foreign and local stories at 3.30pm

  • Business
  • Wednesday, 16 Dec 2015


Brent crude was 0.99% lower to US$38.07 per barrel at 2.00pm.


Ringgit down 0.26% to 4.3125 versus the US dollar at 2.26pm.

Top foreign stories

Mexico’s onshore oil auction in surprise sell-out: Mexico’s government auctioned off all 25 onshore oil and gas fields offered on Tuesday, exceeding expectations as domestic startups won most contracts while billionaire Carlos Slim was the biggest loser. — AFP

Spain’s auto sector helps drive recovery: Spain’s automobile sector has emerged as a key driver of the country’s economic recovery, as investments in research and development combined with labour flexibility boosted its competitiveness. — AFP

HK auctioneers go experimental as sales struggle: Hong Kong auction houses are looking for novel ways to keep their sales buoyant in the face of China’s economic slowdown - from creating boozy bidding parties to selling items from outer space. — AFP

AstraZeneca investing US$800m to go local in China: AstraZeneca aims to build up its already strong position in China by making and developing more medicines locally, and will invest more than US$800 million in the country over the next 10 years, it said on Wednesday. - Reuters

S. Korea sets lower inflation, growth targets on economic risks: South Korean authorities set a new consumer price target and cut economic growth estimates on Wednesday, as falling oil prices and weak global growth pose greater risks for the economy. — Reuters

Packer pushing for Crown Resorts buyout: James Packer, the majority owner of Australia’s Crown Resorts Ltd, is in talks with private financiers about a possible buyout of the casino giant, two media reports said, sending the company’s shares on their biggest one-day spike. — Reuters

Indonesia central bank seen holding rates: Indonesia’s central bank, under some political pressure to cut interest rates, is expected to stand pat at a policy meeting on Thursday only hours after a big decision by the US Federal Reserve. - Reuters

Australia banks agree on Android Pay deal: Big Australian banks have agreed to accept payments made on mobile devices using Google Inc’s Android Pay, leaving Apple Inc’s rival Apple Pay system out in the cold as the tech giant struggles to coax lenders to accept its terms. — Reuters

Top local stories

CIMB Investment Bank gets Indonesia bond job:
CIMB Investment Bank has been appointed the joint lead manager and joint bookrunner for the US$2.25 billion (RM9.7 billion) 10-year and US$1.25 billion (RM5.4 billion) 30-year senior unsecured fixed rate notes issued by Indonesia. — Bernama

Bina Darulaman wins housing project: Construction and property firm Bina Darulaman Bhd has secured a contract worth RM106mil from the Urban Wellbeing, Housing and Local Government Ministry to build 630 single-storey terrace houses. — StarBiz

TM’s Zamzamzairani named CEO of the year: Telekom Malaysia Bhd (TM) has emerged as the big winner at the Malaysia-ASEAN Corporate Governance Transparency Index, Findings and Recognition (The Malaysian Chapter) 2015 organised by the Minority Shareholder Watchdog Group. Its group CEO Tan Sri Zamzamzairani Mohd Isa was named as CEO of the Year in recognition of his outstanding leadership in corporate governance practices. — StarBiz

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