Top foreign and local stories at 4pm


  • Business Premium
  • Tuesday, 05 Jul 2016

MALAYSIA - The central bank on May 7 became the first in Southeast Asia to cut its key interest rate this year, by 25 basis points to 3.0%, moving to support its economy at a time of concern about global growth.

Energy

Brent crude was 1.50% lower to US$49.35 per barrel at 3.42pm.

Forex

Ringgit down 0.41% to 4.0130 per US dollar at 3.50pm.

Top foreign stories


Australia central bank silent on outlook as it holds rates: Australia’s central bank kept interest rates at an all-time low of 1.75% on Tuesday, a widely expected decision given political uncertainty at home and abroad and a lack of timely data on domestic inflation. - Reuters

Oil prices dip on economic concerns:
Oil prices fell on Tuesday, with Brent dropping back below US$50 per barrel as economic concerns took centrestage with many analysts saying crude demand will stall later this year. — Reuters

China’s Midea buys nearly half of German robotics firm Kuka:
Two of German industrial robotics firm Kuka’s biggest shareholders – technology company Voith and entrepreneur Friedhelm Loh – said they have decided to take up Chinese appliances giant Midea’s offer of 115 euros (RM512) per share and sell their stakes. — Reuters

Top local stories


Genting Plantations purchase of Indonesian land won’t impact ratings, says RAM:
RAM Rating Services does not expect Genting Plantations Bhd’s proposed purchase of 21,995ha of plantation land in Indonesia to affect its ratings.It said on Tuesday the purchase price of US$42.15mil (RM173mil) was relatively small to Genting Plantation’s balance sheet. — StarBiz

Bank Negara reserves at RM390.4b:
Bank Negara’s international reserves totalled RM390.4bil or US$97.2bil as at June 30. As at June 15, the reserves were RM383.2b or US$97.4bil. — StarBiz

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Business News

High Court imposes 24 months imprisonment term on former Transmile CEO Premium
Tanco aims to secure contracts worth RM200mil in 2022 Premium
FMM: Critical to develop foreign worker recruitment policy and system Premium
Sasbadi slips into the red Premium
Pintaras secures RM34.3mil contract Premium
Censof appoints Vicks Kanagasingam as CEO of Censof Digital Premium
KLCI sinks 12.95 points amid regional sea of red Premium
Asian shares extend losses on Ukraine fears and Fed jitters Premium
In surprise move, Singapore tightens monetary policy on inflation risks Premium
Touch 'N Go to launch new version of card with NFC capability Premium

Others Also Read


Vouchers