- AFP file pic
Energy
Brent crude was 1.82% lower to US$38.81 per barrel at 3.31pm.
Forex
Ringgit down 0.67% to 4.1325 per US dollar at 3.53pm.
Top foreign stories
Bangladesh central bank governor quits over US$81m heist: Bangladesh’s central bank chief resigned on Tuesday, the finance minister said, after hackers stole US$81 million from the nation’s foreign reserves in an audacious cyber-heist that has hugely embarrassed the government. — AFP
S. Korea fines HSBC and Deutsche US$50,000 for FX swap collusion: South Korea’s competition watchdog said it had fined HSBC Holdings Plc’s Hong Kong unit and Deutsche Bank AG a combined 59 million won (US$50,000) for colluding on foreign exchange swap bids - its first-ever penalty for an FX derivatives-related case. — Reuters
Australia’s Qube, Canada’s Brookfield make US$6.8b Asciano play: Australia’s Qube Holdings Ltd said it has joined Canada’s Brookfield Asset Management Inc and international partners to make a A$9.1 billion (US$6.8 billion) bid for ports and rail freight company Asciano Ltd. — Reuters
Toshiba in talks to sell white goods business to Midea Group: Japanese industrial conglomerate Toshiba Corp said it is in late-stage talks to sell its white goods business to Chinese household appliance giant Midea Group Co Ltd, the Nikkei reported on Monday. — Reuters
BoJ holds fire on fresh stimulus after negative-rate move: Japan’s central bank on Tuesday held fire on unleashing more stimulus, after its surprise introduction of negative interest rates earlier this year was slammed as a desperate bid to stir growth. — AFP
Avon to cut 2,500 jobs, move HQ to Britain: Struggling cosmetics company Avon Products, Inc said on Monday it was eliminating 2,500 jobs and moving its headquarters to Great Britain, its latest restructuring after selling off its North American business. — AFP
Sony buys Michael Jackson’s stake in music venture for US$750m: Sony Corp has reached an agreement with the estate of Michael Jackson to acquire the late music star’s interest in their joint music business for US$750 million. Terms of the deal call for Sony to pay US$733 million for Jackson’s 50% stake in Sony/ATV Music Publishing, as well as previously announced distributions, with payments totalling US$750 million. — Reuters
Wal-Mart Japan to focus on remodelling stores, no plans to exit market: Wal-Mart Stores expects its Japan business to focus on remodelling existing stores rather than opening new ones this year, citing fierce competition and consumer reluctance to spend freely amid uncertain economic times. — Reuters
Top local stories
Mobius: Weaker ringgit makes Malaysia very attractive now: The ringgit, which has fallen more than 15% against the US dollar since January 2015, has made Malaysia very attractive now, says Mark Mobius. The Templeton Emerging Markets Group executive chairman also noted that Malaysia’s gross domestic product growth has been very good. — StarBiz
AirAsia X
eyes Russia flights: AirAsia Bhd’s long-haul low-cost unit, AirAsia X Bhd, has added Russia in its route prospects. AirAsia group chief executive officer Tan Sri Tony Fernandes said “AirAsia X will be flying to Russia soon,” without giving a timeline. — Bernama
Most high net worth Malaysians buying real estate: About 65% of high net worth Malaysians have been buying real estate over the past decade and the same proportion will seek properties as part of their portfolio in the next 10 years, according to a Knight Frank report. — StarBiz
TRC Synergy gets RM88m KLIA sub-contract: TRC Synergy Bhd has secured an RM88mil sub-contract to undertake several projects at the KL International Airport (KLIA) and other locations. The sub-contract involves building an air traffic control centre and associated works at the KLIA and other locations. — StarBiz
Malaysia’s financial system strong, says World Bank: Malaysia’s strong financial system even among its Asean peers and beyond has not only impressed others but its expertise was now being sought after by many, says the World Bank Group. — Bernama
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