News Bits | 31 July 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  On Our Technical Watch: GENM, GTRONIC

 

NEWS HIGHLIGHTS

l  Petronas again delays USD19.0b refinery job

l  UMW O&G gets Bursa approval for listing

l  Pesona Metro bags RM149.6m contract to build a government building complex in JB

l  I-Bhd expects revenue from leisure business to double next year

l  Media Prima signs multi-year licensing agreement with Paramount Pictures

l  Media Mulpha Land to develop parent company’s land in PJ

FOREIGN NEWS HIGHLIGHTS       

l  Aflac profit climbs 84.0% on investments, beats estimates

l  Schneider nears USD5.0b Invensys deal

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Fitch Revises Malaysia's Outlook

Asia

l  Japan Output Falls Most Since 2011 In June After May Surge

l  China Banks Get US$2.8b Liquidity Injection

l  India Central Bank Holds Rates In Push To Stem Rupee Plunge

USA

l  Obama Offers 'Grand Bargain' On Corporate Tax Rate, Infrastructure

l  Consumer Confidence Index In U.S. Fell To 80.3 In July

l  Home Prices In U.S. Increased By Most Since 2006 In May

Europe

l  Euro-Area Economic Confidence Jumps To Highest In 15 Months

l  German Inflation Unexpectedly Remained Unchanged In July

l  German Consumer Morale Near 6-Year High

l  Spain Second Quarter GDP Marks Two Years Of Falling Activity

Currencies

l  Dollar Rises As Fed Meeting Gets Under Way

Commodities

l  Oil Slides, Brent/WTI Unwinds As Rally Seen Excessive

l  Gold Eases In Quiet Trade, All Eyes On Fed Meeting