News Bits | 29 July 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Company Update: AXREIT

l  Quick Bites: COASTAL, GENM, TAANN

l  On Our Portfolio : Expecting mild consolidation

l  On Our Technical Watch: Weekly Technical

 

NEWS HIGHLIGHTS

l  TAS Offshore outsources more vessels to China shipyards

l  Matrix Capacity sustains appetite for SPACs

l  Tenders for RM25.0b MRT project early next year

l  FGVH and JV partner may invest in Pakistan

l  LBS Bina aims to double profit

l  Landowners to gain from Genting investments

FOREIGN NEWS HIGHLIGHTS       

l  Publicis, Omnicom to merge to create advertising giant

l  Wipro Quarterly Profit Rises 2.5% on Outsourcing Demand

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Malaysia Foreign Currency Rating Affirmed

Asia

l  Japan Consumer Prices Rise For First Time In 14 Months

l  China’s Industrial Profits Growth Moderates As Economy Cools

l  China To Audit Government Borrowings As Risks To Growth Increase

USA

l  Consumer Sentiment In U.S. Increases To Six-Year High July

l  US Economy Improving Slowly, IMF Says

Europe

l  Italy Banks Cut Credit, Small Businesses Gasping

l  Germany To Take On Less New Debt This Year

Currencies

l  Dollar Posts Weekly Decline Of More Than 1%

Commodities

l  Brent Holds Above $107 On Weak Dollar, Supply Cuts

l  Gold Posts 3 % Weekly Gain, Fed Comment Eyed