Energy
Brent crude down 1.12% to US$41.47 per barrel at 3.20pm.
Forex
Ringgit up 0.03% to 3.9005 versus the US dollar at 3.43pm.
Top foreign stories
US shale oil firms feel credit squeeze as banks grow cautious: Nearly two years into an epic oil rout, US shale drillers that have upended global energy markets are finally feeling a credit squeeze as banks make their biggest cuts yet to their loans. — Reuters
Compromise seen in Greek talks with IMF and EU: Greece and its international lenders were edging closer to a compromise on signing off on a review of bailout reforms which could unlock more aid to the country, government sources said on Monday, after marathon talks with creditors. — Reuters
China’s producer price deflation eases: China’s producer prices fell less than expected in March while consumer inflation stabilised, a sign that strong deflationary pressures in the country’s industrial sector may be lessening. - Reuters
World Bank trims 2016, 2017 East Asia growth forecasts: The World Bank trimmed its 2016 and 2017 economic growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by risks such as uncertainty over China’s growth prospects, financial market volatility and further falls in commodity prices. — Reuters
Top local stories
CLIQ main shareholder files judicial review against SC: Best Oracle Sdn Bhd, a major shareholder of CLIQ Energy Bhd, has filed a judicial review application against the Securities Commission (SC) after failing to get approval from the commission on its qualifying acquisition. — StarBiz
February industrial output rises 3.9% on year: Malaysia’s Industrial Production Index (IPI) grew 3.9% in February from a year ago, in line with economists’ expectations, with growth boosted by the manufacturing sector. The Statistics Department said on Monday the expansion in February was supported by positive growth in all indices. The manufacturing index rose 4.5%, mining (1.1%) and electricity (10.5%). — StarBiz
Moody’s poll shows Malaysia GDP growing 4% to 4.5% in 2016: Malaysia’s economy is expected to expand at a slower pace of 4% to 4.5% this year from the 5% a year earlier, a Moody’s Investors Service poll shows. Moody’s vice-president and senior research analyst Rahul Ghosh said the projection was in line with its view that Malaysia’s headline real GDP growth rate would slow to 4.4% in 2016, although there are downside risks to this view. - StarBiz
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