Top foreign and local stories at 4pm


  • Business
  • Monday, 23 Jan 2017

High quality calls: Digi iPhone users will be among the first to enjoy VoLTE.

Energy

Brent crude was 0.04% higher to US$55.51 per barrel at 2.49pm.

Forex

Ringgit was up 0.16% to 4.4400 versus the US dollar at 2.58pm.

Top foreign stories 

Dubai’s DP World creates US$4b investment vehicle with Canada’s Caisse de depot: Dubai ports operator DP World said on Monday it was partnering with Canadian pension fund manager Caisse de depot et placement du Quebec to create an investment vehicle worth US$3.7 billion that would invest in ports and terminals worldwide. — Reuters

Turboprop maker ATR says deliveries fell 9% in 2016: The world’s largest commercial turboprop maker, Franco-Italian ATR, said on Monday deliveries fell 9% last year as demand for regional aircraft slows in response to a weakening global economy. Deliveries fell to 80 aircraft from the previous year’s 88. — Reuters

S. Korea Q4 GDP growth seen slowing to 2-year low on sluggish consumption: South Korea’s economy was expected to grow at its slowest rate in two years in the final quarter of 2016, a Reuters poll found on Monday, as weak consumption and investment dragged on economic recovery. The economy was expected to have expanded 0.3% in sequential terms, the poll found, compared to a 0.6% rise in the third quarter. — Reuters

Gold rises to two-month high on Trump policy uncertainty: Gold prices rose on Monday to the highest in two months as investors sought safer assets amid uncertainty around the economic policies of new US President Donald Trump and as the dollar declined against other major currencies. Spot gold rose 0.7% to US$1,217.81 per ounce by 0303 GMT. It earlier touched a high of US$1,219.43, the most since Nov 22. — Reuters

Number of internet users in China reaches 731 millionThe number of internet users in China - already the world’s highest - reached 731 million in December, authorities said, as e-commerce drives consumer demand across the Asian giant. Total internet users rose 6.2% from the end of December 2015 and equals the entire population of Europe, the China Internet Network Information Center said on its website. — AFP

Philips Lighting misses on Q4, sees growth in 2017: Philips Lighting, the world’s largest lighting maker, reported worse-than-expected fourth quarter earnings on Monday, but pledged to increase margins and sales in 2017. Earnings before interest, taxes, appreciation and amortisation for the quarter was 188 million euros (US$202 million), copared with analysts polled forecast for 193 million euros. — AFP

Top local stories

Ahmad Maslan: TPPA failure won’t curtail Malaysia’s trade: The failure to finalise the Trans Pacific Partnership Agreement (TPPA) following the withdrawal of the United States, does not mean that Malaysia’s trade will be curtailed or retarded. International Trade and Industry Deputy Minister Datuk Ahmad Maslan said Malaysia was ready with a number of other alternatives, among them, the Regional Comprehensive Economic Partnership (RCEP). — Bernama

Digi posts RM375mil Q4 net profit: Digi.com Bhd posted a net profit of RM374.62mil for the fourth quarter, versus RM382.36mil a year ago, on a marginally lower revenue of RM1.66bil compared with RM1.72bil previously. The company declared a fourth interim dividend of 4.8 sen per share, equivalent to RM373mil. — StarBiz

Eco World, EPF in RM7.76b township projects in Penang: Eco World Development Group Bhd and the Employees Provident Fund Board (EPF) will jointly develop 375 acres of prime land in Batu Kawan, Penang, into two townships. The combined gross development value of the two townships is about RM7.76bil. — StarBiz

Ni Hsin targets China’s cookware market: Ni Hsin Resources Bhd subsidiary Inoco Resources Sdn Bhd has entered into an exclusive agreement to distribute the world’s first starch reducing rice cooker with Malaysia-based Grayns Malaysia Sdn Bhd. Under the agreement, Ni Hsin has the right to distribute the rice cookers in Malaysia, Singapore, Hong Kong and China for five years. — StarBiz

Aemulus buys Penang land, plans RM25m investment in R&D: Aemulus Holdings Bhd plans to invest RM25mil in research and development (R&D) over the next three years following the purchase of a piece of land in the Bayan Lepas industrial estate, Penang. for RM9.93mil. Aemulus designs and assemble automated test equipment and test and measurement instruments. — StarBiz

Higher number of shoppers expected for Lot 10: Lot 10 shopping centre expects to see a 15% increase in shoppers on the completion of its renovations this year, boosted by accessibility of public transport to the 26-year-old mall. — Bernama
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