News Bits | 9 October 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Automotive, Building Material, Banking, Consumer, Media, Plantation,  Technology, Transport and Logistics

l  Results Note: LPI

l  Company Update: AXIATA, MAS

l  On Our Technical Watch: DAYANG, YTLP

 

NEWS HIGHLIGHTS

l  Barakah to use RM65.0m from shares, loan stocks as working capital

l  KUB hopes to land VOs of RM40.0m from MAHB

l  Notion Vtec to ride on silver price through Australian silver mining firm

l  Glomac associate selling office building in Australia for RM132.4m

l  Khazanah to sell stake in DiGi

l  Two Benalec exec director sacked

FOREIGN NEWS HIGHLIGHTS           

l  Alcatel-Lucent to reduce 10,000 jobs as losses mount

l  Nestle looks to sell Jenny Craig as part of divestiture push

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  IMF Cuts Growth Forecast For Emerging World

l  World Bank Planning To Trim US$400m From Budget

USA

l  Obama: Republicans Using 'Extortion' On Debt Limit

Europe

l  IMF Raises UK Forecast

l  Greece Sees Economy Growing, Finally

l  German Factory Orders Unexpectedly Fall On Weak Recovery

l  Serbia: Lazar Krstic Outlines New Austerity Reforms

l  Slovenia May Seek Help For Its Faltering Banks

Currencies

l  U.S. Dollar Edges Higher Against Japanese Yen

Commodities

l  Oil Rises On Geopolitical Risk, U.S. Debt Uncertainty

l  Gold Eases On Profit Taking, U.S. Budget Impasse In Focus