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Ringgit slips against US$ on US Fed interest rate hikes

KUALA LUMPUR: The ringgit slipped further against the US dollar early Thursday, nearing the 4.00 level after the US Federal Open Market Committee hinted at two rate hikes this year, but the market is still cautious on uncertainty over the European Central Bank's (ECB) quantitative easing plans

OANDA Head of Trading in Asia-Pacific, Stephen Innes said the market should anticipate another lazy day Thursday with investors remaining sidelined ahead of the ECB meeting as they remain glued to macro moves in the global interest rate environment.

Yinson in talks to supply FPSO to Nigerian oil firm

KUALA LUMPUR: Yinson Holdings Bhd plans to supply a floating production storage and offloading (FPSO) unit to Nigeria’s First Exploration & Petroleum Development Company Ltd (First E&P) to process hydrocarbons offshore the African nation.

Asian shares down on Fed hike, Sino-US trade anxiety

TOKYO: Asian shares edged down on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year, while concerns about U.S.-China trade frictions kept investors on edge.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25 percent in early trade. South Korea's KOSPI was off 0.9 percent, while Australia's market slipped 0.2 percent.  Japan's Nikkei shed 0.7 percent.

Kenanga Research lowers Gas Malaysia to market perform

KUALA LUMPUR: Kenanga Investment Bank Research has reduced Gas Malaysia to market perform from outperform as it believes all positives have already been priced-in following a 7% increase in the share price in the past two weeks.

Kawan Food’s RM200m factory set to start in July

KUALA LUMPUR: Kawan Food’s new RM200mil factory in Pulau Indah is slated to start in July and is now waiting for a Halal certification from JAKIM, says CIMB Equities Research.

CIMB Research cited that one new product Kawan is looking at launching is wholemeal paratha bread.

Comcast offers US$65bil to lure Fox from Disney bid

Comcast Corp offered US$65 billion (£48.5 billion) on Wednesday to lure Twenty-First Century Fox Inc away from a merger with Walt Disney Co, launching the first salvo with its 20 percent higher offer and setting up a bidding war between two of the largest U.S. media companies.

Comcast Chief Executive Brian Roberts said he was highly confident regulators would allow Comcast to acquire most of Fox's media assets after AT&T Inc's court victory on Tuesday, which allowed it to buy Time Warner Inc for $85 billion.

Facebook used less for news as youngsters turn to WhatsApp

LONDON: The use of social media networks such as Facebook to consume news has started to fall in the United States as many young people turn towards messaging apps such as Facebook-owned WhatsApp to discuss events, the Reuters Institute found.

Usage of Facebook, the world's largest social network, for news is down 9 percentage points from 2017 in the United States and down 20 points for younger audiences, according to the Reuters Institute survey of 74,000 people in 37 markets

Aramco eyes partnerships

DHAHRAN, Saudi Arabia: Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand.

The state oil giant is moving ahead with multi-billion-dollar projects in China, India and Malaysia and aims to finalize new partnerships this year, Abdulaziz al-Judaimi, Aramco's senior vice president for downstream, told Reuters.

Oil price rises as US inventories fall on strong demand

NEW YORK: Oil prices turned positive on Wednesday after a bigger-than-expected decline in U.S. crude inventories along with surprise drawdowns in gasoline and distillates indicated strong demand in the world's top oil consumer.

Brent crude settled up 86 cents, or 1.1 percent, at $76.74 a barrel and U.S. crude closed 28 cents, 0.4 percent, higher at $66.64 a barrel.