Malaysian palm oil futures saw their biggest rise in one-and-a-half months on Tuesday, rebounding by nearly 3 percent from sharp losses in the previous session, on a weaker ringgit and expectations of lower future production.
Energy
Brent crude was 2.01% higher to US$30.93 per barrel at 2.13pm.
Forex
Ringgit up 0.54% to 4.1488 versus the US dollar at 2.37pm.
Top foreign stories
Indonesia to open up several economic sectors to foreign investment: Indonesia will ease foreign investment rules in several sectors of the economy, including the e-commerce, healthcare, and movie industries, President Joko Widodo said on Wednesday. — Reuters
Report: Japan’s Asahi offers US$3.5b for Peroni, Grolsch: Japan’s Asahi Group Holdings has offered US$3.5 billion for two top European lager brands from British giant SABMiller, in what would be the biggest-ever overseas acquisition by a Japanese beer company, a report said on Wednesday. — AFP
Philippine central bank seen standing pat on rates: The Philippine central bank looks certain to leave its key interest rate on hold when it meets for the first time this year on Thursday, with inflation expected to stay under control even as growth remains solid buoyed by domestic demand. — Reuters
Top local stories
Compugates gets offer to log in PNG: Compugates Holdings Bhd
unit Compugates Perak Sdn Bhd has received a letter of offer from Lower Sepik Holdings Ltd to undertake logging in Papua New Guinea covering an area nearly the size of Singapore. — StarBiz
January palm oil stocks down 12.38% to 2.31m tonnes: Malaysia’s palm oil stocks in January 2016 slipped 12.38% to 2.31 million tonnes against 2.63 million tonnes in December 2015, the Malaysian Palm Oil Board said on its website. — Bernama
Sunway Property named Property Company for 2015 in Asia: Sunway Bhd’s property unit Sunway Property has been named “Property Company of the Year 2015 – Asia” by readers of World Finance, a leading UK-based financial magazine. — StarBiz
FedEx unveils new payment service: FedEx Express (FedEx), a subsidiary of FedEx Corp, has introduced an additional payment option, JomPAY, in Malaysia via 42 InterBank GIRO banks. JomPAY allows fast, simple and secure online payment through the Internet and mobile banking for shipping charges including freight, duties and taxes. — Bernama
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