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All Wall St. main indexes down 2%, S&P 500 at 14-month low

NEW YORK: Wall Street's major indexes all slid more than 2 percent on Monday, with the benchmark S&P 500 closing at its lowest in 14 months, on concerns about slowing economic growth ahead of a highly anticipated decision from the Federal Reserve this week on the course of U.S. interest-rate hikes.

The Dow Jones Industrial Average fell 507.53 points, or 2.11 percent, to 23,592.98, the S&P 500 lost 54.01 points, or 2.08 percent, to 2,545.94 and the Nasdaq Composite dropped 156.93 points, or 2.27 percent, to 6,753.73.

EPF and PNB buy Battersea phase two for RM8.35bil

PETALING JAYA: The phase two commercial assets of the Battersea Power Station has finally been sold to the Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB), in a deal worth £1.58bil (RM8.35bil). The transaction is expected to be completed in the first quarter of 2019, sellers SP Setia Bhd and Sime Darby Property Bhd said in a joint statement.

London project: Cranes seen at the Battersea Power Station project in London recently. The project’s developers and contractors have to operate with escalating costs against the backdrop of a challenging market environment caused by Brexit. — Reuters

RAM sees headline inflation rising to 2.7% next year

KUALA LUMPUR: Malaysia’s 2019 headline inflation is projected to rise to 2.7%, mainly driven by additional pressure from the switch to targeted fuel subsidies, continued spillover effects from the reintroduction of the Sales and Service Tax and low-base effects during the three-month zero-rated Goods and Services Tax period.

Inflation mainly driven by additional pressure from the switch to targeted fuel subsidies, continued spillover effects from the reintroduction of the Sales and Service Tax and low-base effects during the three-month zero-rated Goods and Services Tax period.

Headline inflation to rise to 2.7% in 2019

KUALA LUMPUR: Malaysia's 2019 headline inflation is projected to rise to 2.7 per cent, mainly driven by additional pressure from the switch to targeted fuel subsidies, continued spillover effects from the reintroduction of the Sales and Service Tax and low-base effects during the three-month zero-rated Goods and Services Tax period.

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