Typical: Volkswagen is rolling out automated safety features as standard on higher-priced versions of models to US consumers first. Photo: Reuters
Energy
Brent crude was 2.09% higher to US$47.81 per barrel at 3.50pm.
Forex
Ringgit up 0.46% to 4.0705 versus the US dollar at 3.59pm.
Top foreign
China August data to hold mainly steady, provide window for reform push: Signs of strength in China’s industrial sector should give Beijing room to push much-needed reforms through the end of the year, though trade and investment are expected to remain weak, according to Reuters polls ahead of a flurry of August data. — Reuters
Hanjin takes legal steps to prevent ship seizures as more vessels blocked: South Korea’s Hanjin Shipping plans to take legal action in jurisdictions worldwide to prevent its vessels being seized, as more of its ships were blocked from docking at ports in the wake of its collapse. As of Monday, 79 Hanjin ships including 61 container ships and 18 bulk carriers have been denied port access, according to South Korea’s maritime ministry. — Reuters
EU finds Volkswagen broke consumer laws in 20 countries: The European Commission has found that Volkswagen broke consumer laws in 20 European Union countries by cheating on emissions tests, German daily Die Welt reported, citing Commission sources. — Reuters
Chinese banks’ shadow loans grow despite regulatory glower: Shadow lending by listed Chinese banks surged in the first half, underlining the challenges faced by the country’s banking regulator as it tries to rein in the use of opaque lending structures that are seen as a threat to financial stability. — Reuters
BoJ’s Kuroda says room for more easing, including new ideas: Bank of Japan governor (BoJ) Haruhiko Kuroda signalled his readiness to ease monetary policy further using existing or new tools, shrugging off growing market concerns that the bank is reaching its limits after an already massive stimulus programme. — Reuters
Top local news
Axiata signals interest in raising stake in Singapore’s M1: Axiata Group Bhd
chief executive officer Jamaludin Ibrahim signalled Malaysia’s biggest mobile-phone operator would be interested in raising its stake in Singapore’s M1 Ltd as part of plans to turn the company into a bigger regional carrier. — Bloomberg
Irda eyes RM25b new investments for Iskandar: The Iskandar Regional Development Authority (Irda) aims to attract RM25 billion in new investments for Iskandar Malaysia this year. Corporate management and finance director Nor Hisham Mohd Yusof said Irda was confident of achieving the target as it has already secured RM17.7 billion in new investments in the first half of 2016. — Bernama
Eversendai secures RM1.5b new contracts: Steel structure player Eversendai Corporation Bhd has secured RM1.53 billion worth of projects in the Middle East, India, Malaysia and Thailand in the first eight months of 2016. — Bernama
Hua Yang unveils RM368mil project in Seri Kembangan: Property developer Hua Yang Bhd, which is targeting sales worth RM500mil for its current financial year ending March 31, 2017, is launching its newest offering, Astetica Residences, by this quarter. The project has a gross development value of RM368mil. — StarBiz
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