Commuters pass Grab transport booking service app advertisements at a train station in Singapore February 10, 2016. REUTERS/Edgar Su/File Photo
Energy
Brent crude was 0.20% higher to US$60.61 per barrel at 3.37pm.
Forex
Ringgit up 0.09% to 4.2277 versus the US dollar at 3.47pm.
Top foreign stories
Ride-hailing firm Grab launches e-wallet for hawker stalls in Singapore: Ride-hailing firm Grab launched its GrabPay digital wallet for hawker stalls, restaurants and shops in Singapore, making its latest big push into electronic payments as part of its efforts to expand beyond transportation services. Grab said it will launch the GrabPay wallet across South-East Asia in 2018. - Reuters
National Australia Bank to cut 4,000 jobs: National Australia Bank Ltd announced plans to eliminate 4,000 jobs, or about 12% of its workforce, joining the ranks of global lenders cutting costs and shedding staff in the face of advancing technology. Rapid improvements in automation and a shift toward digital banking have upended the finance industry, with many traditional jobs disappearing. — Bloomberg
Bank of England set to raise rates for first time in 10 years: The Bank of England looks set to raise interest rates for the first time in more than 10 years on Thursday, despite economic growth appearing weaker than before any other increase in borrowing costs in the past 20 years. Almost all economists polled by Reuters expect the BoE to raise base rates to the 0.5 percent they stood at from March 2009 until August last year, when they were halved to 0.25 percent after Britons voted to leave the European Union. — Reuters
Credit Suisse posts near six-fold rise in third-quarter net income: Credit Suisse, which faces calls from an activist investor to split up the bank to boost its share price, on Thursday reported a near-six-fold year-on-year rise in third-quarter net income attributable to shareholders of 244 million Swiss francs (US$244.2 million). — Reuters
Hong Kong’s CK Asset to sell office tower for record US$5.15b: CK Asset Holdings Ltd, owned by Hong Kong’s richest man Li Ka-shing, is selling its 73-storey office tower to C.H.M.T. Peaceful Development Asia Property Ltd for HK$40.2 billion (US$5.15 billion), the city’s biggest property deal. The Hong Kong skyscraper’s sale is a record-breaking deal and expands the footprint of Chinese investment in the Asian financial hub’s prime office district, where half of new leasing space has been snatched up by mainland Chinese companies. — Reuters
Top local stories
UEM Edgenta gets shareholders’ nod to sell NZ asset: UEM Edgenta Bhd has received the nod from shareholders to dispose of its 61.2% stake in New Zealand-listed Opus International Consultants Ltd (OIC) for RM528mil, marking its exit from the region. After the sale, the company will focus on streamlining its operations and drive organic growth by reallocating resources in three core areas: healthcare, infrastructure and real estate. — StarBiz
Trading in Ranhill, facing lawsuit, halted: Trading in Ranhill Holdings Bhd shares was halted on Thursday after it was announced Ranhill Water Technologies (Cayman) Ltd is being sued by China’s Wahtoting Holding Ltd for unpaid fees amounting to 19.94mil renminbi (RM12.76mil). — StarBiz
Individual income tax cut to reduce Govt revenue by RM1.3b: The two percentage point cut in individual income tax rate proposed in Budget 2018 would reduce the government’s tax revenue collection by RM1.3bil, said Second Finance Minister Datuk Seri Johari Abdul Ghani. He, however, is confident the country’s economy would continue to be stimulated by the government’s planned expenditure. — Bernama
Online hiring on the rise in Malaysia: Online hiring in Malaysia increased 7% in September 2017 vesus a year earlier, the latest Monster Employment Index shows. Monster.com said the O&G sector recorded 37% year-on-year growth in online hiring, followed by information technology, telecommunications/Internet services provider and business process outsourcing/Internet-enabled services, which recorded 34% growth. — Bernama
AirAsia X carries 23% more passengers in Q3: AirAsia X Bhd
(AAX) carried 1.49 million passengers in the third quarter ended Sept 30, up 23% from 1.2 million passengers a yaer earlier. The long-haul, low cost airline said its capacity rose 21% to 1.88 million from 1.56 million previously. — StarBiz
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