Energy
Brent crude was 0.54% lower to US$46.40 per barrel at 3.35pm.
Forex
Ringgit was down 0.29% to 4.3003 versus the US dollar at 3.43pm.
Top foreign stories
Toshiba sues Western Digital for US$1bil in damages: Toshiba Corp sued Western Digital Corp in a Japanese court, asking for 120 billion yen (US$1 billion) in damages and seeking to stop the US company from interfering in the sale of its chip unit. — Bloomberg
Cyber attack sweeps globe, researchers see ‘WannaCry’ link: A major global cyber attack disrupted computers at Russia’s biggest oil company, Ukrainian banks and multinational firms with a virus similar to the ransomware ”WannaCry” that infected more than 300,000 computers last month. — Reuters
S. Korea June exports seen up for 8th month, May output rebounding: South Korea’s exports were expected to rise for an eighth straight month in June, a Reuters poll showed, as global demand for memory chips and shipbuilding continued to support foreign trade. Exports are expected to rise 17.1% from a year earlier, versus 13.3% growth in May. Imports were seen growing 19.5% after jumping 19.1% a month earlier. — Reuters
Philips to buy medical device maker Spectranetics for US$2b: Dutch healthcare company Philips has agreed to buy US-based Spectranetics Corp, a maker of devices to treat heart disease, for 1.9 billion euros (US$2.16 billion) including debt, as it expands its image-guided therapy business. — Reuters
Japan, EU press ahead on free trade pact to counter US protectionism: Japanese and European Union negotiators meeting in Tokyo aim to reach a free trade deal that would stand against a protectionist tide threatening the global economy, and make the United States think twice over pursuing inward-looking policies. — Reuters
China economy improves in Q2: China’s economy continued to improve in the second quarter, with corporate profits rising and hiring up, a private survey showed, but it suggested the Asian giant may have to brace for tougher times ahead even though firms have been able to weather a tighter financing environment. The China Beige Book International’s quarterly survey showed that while the property sector slowed, manufacturing improved further and the retail and services industries bounced back after a difficult first quarter. — Reuters
Top local stories
U Mobile ends network sharing deal with Maxis: U Mobile Sdn Bhd is terminating the network sharing and alliance agreement with Maxis Bhd, which will take place in stages over 18 months. Maxis said the completion date is Dec 27, 2018. — StarBiz
Sapura Energy unit completes subsea oil wells job in Australia: Sapura Energy Bhd’s wholly-owned Australian unit Sapura Energy Australia Pty Ltd has completed the Shell Prelude Light Well Intervention Campaign-Plug Removal Activity for Shell Australia Pty Ltd in Western Australia in the Browse Basin in Western Australia. — StarBiz
CaspiOilGas awards contracts worth US$55m: Sumatec Resources Bhd says CaspiOilGas LLP has awarded US$55mil (RM236.5mil) worth of jobs to Industrial Energy Alliance LLP and Pricaspiyskoye Upravleniye Stroitelstva. CaspiOilGas is a unit of Markmore Energy (Labuan) Ltd, which Sumatec is in the process of acquiring from Tan Sri Halim Saad for US$205mil (RM890mil). — StarBiz
Mara pumps RM50m into fund to nurture women entrepreneurs: Mara has allocated RM50 million for its Dana Nita programme, specially for women who want to become entrepreneurs or start business this year. Deputy director-general (entrepreneurship), Zulfikri Osman, said the maximum financial assistance given to each qualified applicant under the programme was RM50,000. — Bernama
Bumi Armada’s Kraken unit strikes first oil in North Sea: Bumi Armada Bhd
’s Armada Kraken floating production storage and offloading (FPSO) unit achieved first oil on the Kraken field in the UK North Sea. The international offshore energy facilities and services provider said the production rate is being increased and the FPSO will be further commissioned for final acceptance. - StarBiz
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