News Bits | 22 March 2013

IDEAS OF THE DAY

l  Results Note: SKPETRO

l  Quick Bites: MUHIBAH, UMW

l  On Our Technical Watch: PLENITU 

NEWS HIGHLIGHTS

l  RHB Bank Bhd aims to conclude 40.0% stake acquisition in Bank Mestika by early Q3 2013

l  Ireka bags RM163.0m project in Cyberjaya

l  Favelle Favco secures RM78.8m worth of contracts

l  Hibiscus Petroleum JV seeking exploration assets in Asia-Pac

l  Brem’s water concession in Papua NG terminated

l  Changes at Shangri-La?

FOREIGN NEWS HIGHLIGHTS

l  Delta said to study order for USD4.3b in wide-bodies

l  Rosneft pays out in historic TNK-BP deal completion

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Malaysia Likely To Liberalise Services Sub-Sectors Early Next Year

Asia

l  Japan Posts Trade Deficit For Eighth Straight Month

l  Kuroda Confident In Getting 2% Inflation As BOJ Readies Stimulus

l  China Manufacturing Activity Speeds Up Post Holidays

USA

l  US House Passes $984bn Spending Bill To Avert Government Shutdown

l  Initial Jobless Claims In U.S. Rise Less Than Forecast

l  US Home Sales Rise Fuels Recovery Hopes

l  House Prices Rose 6.5% In Year Through January, FHFA Says

l  Americans’ View On Economic Outlook Climbs To Three-Month High

Europe

l  Euro-Area Manufacturing, Services Declined In March

l  ECB Says It Will Suspend Liquidity Provision To Cypriot Banks If No Bailout Agreed By Monday

l  Cyprus Targets Big Depositors In Bank Plan

l  Cyprus And Russia Discuss Banking, Gas Deals

l  S&P Cuts Rating On Cyprus By One Notch To Triple-C

l  UK Retail Sales Bounce Back In February

Currencies

l  Euro Slumps As Cyprus Races To Meet Deadline

Commodities

l  Oil Falls On Demand Outlook Worries As Cyprus Struggles

l  Gold Hits Near One-Month High On Cyprus Debt Fears