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Challenging outlook for AirAsia due to higher fuel cost

KUALA LUMPUR: Maybank Investment Bank Research expects AirAsia Group Bhd’s core net profit for Q2’18, which will be released on August 30, to come in at RM289mil, a 39% decline year-on-year and 10% decline quarter-on-quarter.

Australian teen sparks FBI action after hacking Apple

SYDNEY: An Australian teenager has pleaded guilty to hacking into the main computer network of technology giant Apple Inc , downloading big internal files and accessing customer accounts, because he was a fan of the company, local media reported

The boy, 16, from Melbourne city, broke into the United States company's mainframe from his suburban home many times over a year,  The boy's name could not be made public because he was a juvenile offender.

Floods hit rubber output in Kerala, M'sian exports may rise

KOCHI, India/MUMBAI: The death toll from the southern Indian state of Kerala's worst floods in a century has risen to 79, a government official said, with rising water levels likely to impact rubber and other plantations in the region

Indian officials say a quick rebound in Indian rubber output  is not seen. That could lift India's imports to a record 500,000 tonnes due to high demand from tyre makers, Budhraja said.  Higher imports by India could support global rubber prices and lift shipments from major exporters like Malaysia, Thailand, Indonesia and Vietnam.

Dialog earnings up on midstream, downstream operations

PETALING JAYA: Dialog Group Bhd’s net profit for its fourth quarter ended June 30 rose 11% to RM114.85mil from RM103.55mil in the previous corresponding period.This was driven by better performance delivered by its midstream and downstream activities.

In a filing with Bursa Malaysia, the oil and gas contractor said revenue in the fourth quarter, however, dropped to RM607.13mil from RM968.95mil a year earlier.  For its financial year ended June 30, 2018 (FY18), Dialog’s net profit grew to RM510.37mil from RM370.64mil in the previous corresponding period.

Budget to lift stock market

KUALA LUMPUR: Maybank Investment Bank (IB) Research expects the tabling of the 2019 Budget to lift market sentiment on Bursa Malaysia as investors get more clarity on policies and reassurance on the government’s fiscal target.

The research house said in a statement the stock market was expected to trade range-bound for the rest of the year, with its year-end target at 1,750 points for the FBM KLCI, pegging it at a valuation of 15.6 times forward earnings.

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