Thu01192017

LAST_UPDATEWed, 18 Jan 2017 11pm

Oil Spice: With $3b Port, Malacca Eyes Slice Of Spore’s Pie

KUALA LUMPUR: Once at the heart of the global spice trade, Malacca is pumping nearly $3 billion into an ambitious plan to put itself in demand in a different hot commodity – oil.

Read more: Oil Spice: With $3b Port, Malacca Eyes Slice Of Spore’s Pie

Asia Stocks Share Some Wall St Joy, U.S. Yields A Burden

People walk past an electronic board showing Japan's Nikkei average outside a brokerage in Tokyo, Japan, November 18, 2016. REUTERS/Toru Hanai

Asian stocks bounced to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street's record run, while high U.S. bond yields kept the dollar well underpinned.

Read more: Asia Stocks Share Some Wall St Joy, U.S. Yields A Burden

BlackRock Underweight On Malaysia

KUALA LUMPUR: Asset manager BlackRock is underweight on Malaysia’s fixed income outlook and dislikes Malaysia’s equity market, given greener pastures in other parts of the world and protracted structural reforms here, said BlackRock managing director and head of multi-asset platform strategy Asia Pacific Steven Moeller.

Read more: BlackRock Underweight On Malaysia

Dayang Enterprise’s Q3 Profit Falls 57.9%

PETALING JAYA: Dayang Enterprise Holdings Bhd’s net profit slumped 57.9% to RM36.17 million for the third quarter ended Sept 30, 2016 versus RM85.95 million in the previous corresponding period, mainly due to the absence of fair value gain from the re-measurement of equity interest held in an associate, which was recorded in the same period last year.

Read more: Dayang Enterprise’s Q3 Profit Falls 57.9%

Oil Prices Edge Up On Anticipation Of OPEC-Led Production Cut

A gas station attendant puts fuel into a customer's car at PetroChina's filling station in Beijing, China, March 21, 2016. REUTERS/Kim Kyung-Hoon

Oil prices edged up on Wednesday in anticipation of an OPEC-led crude production cut that is planned to be finalised by the end of the month, through trading was thin ahead of the U.S. Thanksgiving holiday on Thursday.

Read more: Oil Prices Edge Up On Anticipation Of OPEC-Led Production Cut

Dollar Clings Near 13-1/2-Year High, Pauses After Rally

U.S. 100 dollar, 50 euro, 20 pound and Ukrainian 500 hryvnia banknotes are seen in this picture illustration taken in Kiev, Ukraine, October 31, 2016. REUTERS/Valentyn Ogirenko/Illustration

The dollar hovered near a recent 13 1/2-year peak on Wednesday, taking a breather after surging on expectations that U.S. interest rates will rise further than earlier anticipated due to prospects of increased fiscal stimulus under a Trump administration.

Read more: Dollar Clings Near 13-1/2-Year High, Pauses After Rally

Samsung Group, Pension Fund Offices Raided In Growing South Korea Scandal

FILE PHOTO: Choi Soon-sil arrives for questioning at a prosecutor's office in Seoul, South Korea, November 1, 2016. Kim Do-hoon/Yonhap via REUTERS/File photo

South Korean prosecutors raided the offices of Samsung Group on Wednesday, a prosecution official said, after media reports of alleged links with a confidante of President Park Geun-hye who has been indicted in an influence-peddling scandal.

Read more: Samsung Group, Pension Fund Offices Raided In Growing South Korea Scandal

In Wake Of Wells Fargo, U.S. Regulator Mulls Tougher Bank Sanctions

A man walks by a bank machine at the Wells Fargo & Co. bank in downtown Denver, Colorado, U.S. April 13, 2016. REUTERS/Rick Wilking/File Photo

A U.S. banking regulator is considering whether to harden sanctions against lenders that abuse their clients or violate banking laws, according to a draft plan, seen by Reuters, that was drawn up in the wake of a scandal at Wells Fargo.

Read more: In Wake Of Wells Fargo, U.S. Regulator Mulls Tougher Bank Sanctions

Malaria Cases In Gerik On The Rise

IPOH: The number of malaria cases in the Pos Kemar Orang Asli settlement in Gerik, 150km north of here, has increased to 52, with nine more cases detected yesterday.

Read more: Malaria Cases In Gerik On The Rise

Bank Negara Tipped To Maintain OPR On Weaker Ringgit

KUALA LUMPUR: Bank Negara Malaysia (BNM) is expected to leave its benchmark rate unchanged today, at its first policy meeting since Donald Trump’s win in the US presidential election battered the ringgit.

Read more: Bank Negara Tipped To Maintain OPR On Weaker Ringgit