News Bits | 18 July 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Results Note: HUAYANG

l  Quick Bites: AEON

l  On Our Radar: PIE

l  On Our Technical Watch: DIALOG, PERDANA

 

NEWS HIGHLIGHTS

l  Hong Leong Bank appoints new COO

l  Scomi Eng to bid for RM5.0b projects in India?

l  Malaysia Airlines adds flights to Auckland, Yangon

l  Board changes at Eastland

l  MIBB pumps another RM8.5m into AirAsia X

l  Magna Prima considers fund-raising exercise

FOREIGN NEWS HIGHLIGHTS       

l  US Airways, American offer EU concessions over merger deal

l  Alibaba gains momentum for IPO with profit margin double Apple’s

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Singapore Exports In Longest Slump Since Global Crisis

l  FDI Into China Climbs In First Half

l  China Won’t Have Large Stimulus This Year, Finance Minister Says

l  India Eases Foreign Investment Rules To Boost Growth

 

USA

l  Bernanke Tells Congress Fed Flexible On Bond Buying

l  Decrease In Starts Curbs U.S. Housing Rebound

 

Europe

l  UK Unemployment Falls By 57,000 To 2.51 Million

l  Greek MPs Back Public Sector Cuts Amid Protests

l  Russian Investment Unexpectedly Contracts In June

 

Currencies

l  Dollar Up Vs. Euro, Yen After Bernanke Testimony

 

Commodities

l  Oil Rises As U.S. Inventories Drop Again, Gasoline Off

l  Gold Tumbles As Bernanke Sees Fed Tapering Later This Year