Tuesday, July 16, 2013

News Bits | 16 july 2013


IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
l  Company Update: COASTAL
l  Quick Bites: TSH
l  On Our Radar: LBS
l  On Our Technical Watch: KPS, QL
 
NEWS HIGHLIGHTS
l  Scomi Energy secures RM158.7m bulk coal contract
l  S P Setia, Rimbunan Hijau in in Sino-foreign joint venture to develop industrial park
l  Ranhill's share sale raised RM753m
l  AirAsia X launches flight to Busan
l  Meda to acquire Sungai Buloh tracts for RM75.2m
l  MyEG roll-out next year
l  Shareholders propose to take Zecon private
FOREIGN NEWS HIGHLIGHTS       
l  Loblaw to buy shoppers in CAD12.4b bid to defend turf
l  AT&T’s leap deal puts pressure on smaller rivals to pair up
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Global
l  Business Confidence Back To Financial Crisis Lows
Asia Pacific
l  S. Korea June Exports Down 1%
l  China Growth Slows To 7.5% In Second Quarter
l  India’s Central Bank Raises Two Interest Rates To Support Rupee
l  India Inflation Reaches Three-Month High As Rupee Fans Costs
l  N.Z. Inflation Slows, Adding To Signs Of Rate Pause Until 2014
North America
l  Consumers Hold Back As U.S. Retail Sales Moderate
l  Surging U.S. Corporate Spending May Offset Sequestration
l  Canada Existing Home Sales Rise 3.3% In June
Europe
l  Fitch Cuts European Financial Stability Facility To AA+
l  UK Loans To First-Time Buyers At Five-And-A-Half-Year High
l  Russian June Industrial Output Expands Less Than Forecast
Currencies
l  Dollar Climbs With Bernanke Testimony In Focus
Commodities
l  Brent Rises Towards $109 As China Growth Meets Forecast
l  Gold Inches Down, Bernanke Eyed For Stimulus Clue
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