Top foreign and local stories at 4pm

Energy

Brent crude was 0.69% lower to US$51.74 per barrel at 4.19pm.

Forex

Ringgit up 0.03% to 4.2940 versus the US dollar at 4.26pm.

Top foreign stories 

Bitcoin rises to new heights: Bitcoin jumped to a peak of US$4,125.17 on Monday, a gain of 15% since Friday, after a plan to quicken trade execution by moving some data off the main network was activated last week. — Reuters

China’s Fosun, Shanghai Pharma say bid for stake in US drugmaker Arbor: A unit of China’s Fosun Group and Shanghai Pharmaceuticals Holding Co are among bidders for a stake in US speciality drugmaker Arbor Pharmaceuticals LLC, the companies said on Monday. — Reuters

Japan Q2 GDP blows past expectations on robust domestic demand: Japan’s economy expanded at the fastest pace in more than two years in the second quarter as consumer and company spending picked up, highlighting a long-awaited bounce in domestic demand. The world’s third-largest economy expanded by a much stronger-than-expected annualised rate of 4.0% in April-June, government data showed on Monday. — Reuters

Robust China economic growth shows signs of fading in July: China’s strong economic growth showed visible signs of fading in July as lending costs rose and the gravity-defying property market cooled, though activity levels generally remained solid, propped up by a year-long construction spree. - Reuters

Top local stories

FGV eyes opportunities in ECRL project: Felda Global Ventures Holdings Bhd (FGV) is keen to offer its expertise in providing an integrated logistics services with parties involved in the development of the East Coast Rail Link (ECRL) project. - StarBiz

Bina Puri undertakes RM35m Thai project: Bina Puri Holdings Bhd via its joint venture company has cliched a 250.6mil baht (RM35.03mil) project, called “I’m Fine Condominium” in Bangna, Thailand. — StarBiz