Malaysian palm oil futures fell on Tuesday, its seventh straight losing session, as bearish palm fundamentals and declining rival oils weighed on the market. (Worker load and arrange palm oil fruits on top of a lorry inside a palm oil factory area in Sungai Besar, Selangor on Monday June 13, 2016.- FAIHAN GHANI/The Star)
Energy
Brent crude was 0.91% higher to US$51.99 per barrel at 3.34pm.
Forex
Ringgit up 0.39% to 4.2013 versus the US dollat at 3.44pm.
Top foreign stories
Australia’s Tabcorp, Tatts in talks to create US$7b gaming giant: Australia’s Tatts Group Ltd and Tabcorp Holdings Ltd on Tuesday said they are in talks to create a A$9.34 billion (US$7.1 billion) betting industry giant, hoping to join forces to fend off popular online rivals. — Reuters
Indonesia palm output likely rose in Sept: Indonesia’s crude palm oil (CPO) output likely rose in September on the onset of the harvest season, while a rise in exports was also seen, according to a Reuters survey. CPO production likely climbed by 2.4% to 2.9 million tonnes, according to the median estimate in the survey. — Reuters
Canada’s Amaya and Britain’s William Hill end merger talks: Merger talks between Canadian online gambling company Amaya Inc and British bookmaker William Hill have ended after the two firms concluded they would be stronger on their own. — Reuters
China challenges weigh on Danone third-quarter sales: French food group Danone reported a slowdown in quarterly sales growth on Tuesday that was slightly worse than expected as difficulties in China hurt its baby food and water divisions. Danone said third-quarter sales reached 5.54 billion euros (US$6.20 billion), with like-for-like growth of 2.1% against 4.1% in the second quarter. - Reuters
Honda planning new China car factory for 2019 start: Honda Motor Co plans to build a new factory in China that will produce passenger cars from 2019, boosting its output capacity in the country by about a fifth, two people familiar with the matter said on Tuesday. — Reuters
China’s Dalian Wanda courts Hollywood with film subsidy: China’s richest man, on a buying spree in Hollywood, urged US filmmakers to work more closely with the Asian country as he unveiled a subsidy meant to lure productions to his multi-billion dollar studio in the eastern Chinese city of Qingdao. — Reuters
Top local stories
Damansara Realty unit gets civil servant home project in Putrajaya: Damansara Realty Bhd subsidiary Damansara Realty (Johor) Sdn Bhd will develop the 1Malaysia Civil Servants Housing (PPA1M) project in Putrajaya. The project has a gross development value of RM467.3 million. Damansara Realty (Johor) on Tuesday signed an agreement with Putrajaya Corp on the venture. — Bernama
Bank Negara expands eligibility criteria for fintech Regulatory Sandbox Framework: Bank Negara has expanded the eligibility criteria to clarify the focus of innovations that the Financial Technology (fintech) Regulatory Sandbox Framework aims to support. It said innovations should have clear potential to improve the accessibility, efficiency, security and quality of financial services. — Bernama
Financial planner: Retirement planning must include housing, social engagement: Retirement planning must include housing and social engagement for retirees to maintain their standard of living in old age, a syariah-registered financial planner said. — Bernama
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