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Banks resume lift in early trade

KUALA LUMPUR: A positive performance on Wall Street overnight gave Asian stocks a running start at Thursday's open

US oil prices extended gains Thursday amid another drawdown(Update)

NEW YORK: U.S. oil futures surged nearly 2 percent on Wednesday as they were bolstered by a fifth weekly crude inventory drawdown and strong domestic gasoline demand amid ongoing global supply concerns over U.S. sanctions on Iran that come into force in November.

U.S. West Texas Intermediate crude for October delivery was up 31 cents, or 0.4 percent, at $71.43 a barrel by 0018 GMT, after settling up $1.27.  Front-month London Brent crude, for November delivery, was down 2 cents at $79.38, having ended up 37 cents.

Zakaria’s resignation ‘slightly positive’ for FGV

PETALING JAYA: The resignation of FGV Holdings Bhd’s president and chief executive officer (CEO) Datuk Zakaria Arshad will pave the way for its turnaround initiatives, according to CIMB Research.

Zakaria’s(pic) resignation came hot on the heels of the recent disclosure by the FGV chairman that the group’s top management was being investigated over the company’s poor financial performance.

Qatar’s QIA chief leaves US$320bil sovereign fund

DUBAI: The chief executive officer of the Qatar Investment Authority (QIA) is leaving after almost four years at the helm of one of the world’s largest sovereign funds, according to people with knowledge of the matter.

The reasons behind the surprise departure of Qatari royal Sheikh Abdullah Bin Mohammed Al Thani (pic), weren’t immediately clear and a replacement is yet to be officially named.