News Bits | 24 June 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Company Update: GENP

l  Quick Bites: AIRPORT, BJTOTO, TAANN

l  On Our Portfolio: Heightened Volatility

l  On Our Technical Watch: Weekly Technical

 

NEWS HIGHLIGHTS

l  AirAsia X fixes IPO share price at RM1.25

l  EPF wants to take RHB private

l  CIMB aborts plan to buy controlling stake in Philippine bank

l  Major shareholders to privatise Nadayu

l  HeveaBoard wins RM22.0m China contract

l  Sumatec plans sukuk issue for asset buy

l  MPHB gets positive response for non-gaming assets’ listing

FOREIGN NEWS HIGHLIGHTS

l  Vodafone to make new Kabel bid on Monday

l  AT&T said to explore deals with Telefonica, eyeing Europe

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  BIS Says Central Banks Must Stop Supporting Economy

l  Investors Pull More Money From EM Funds

Asia

l  World’s Biggest Pension Fund Doubts BOJ Can Achieve 2% Inflation

l  China Money-Market Turmoil Poses Test For New Leaders

North America

l  Canada Inflation, Retail Sales Advance Less Than Forecast

Europe

l  EU Split On Future Bank Bailouts

l  EU Agrees Euro Rescue Fund Guidelines For Banks

l  UK Government Borrowing Rose In 2012-13, ONS Figures Show

l  U.K. Budget Gap Narrows On Spending Drop, Swiss Deal

l  Nabiullina Seeks Growth Options With Russia Economy Losing Steam

Currencies

l  UK And China In £21bn Currency Swap Deal

l  Dollar Rallies Third Day Of Fed-Inspired Gains

Commodities

l  Brent Stays Above $102, But Set For Biggest Weekly Drop In 2 Months

l  Gold Heads For Biggest Weekly Drop In Nearly 2 Years