News Bits | 4 September 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Company Update: KLCC, SUPERMX

l  Quick Bites: ALAM

l  On Our Technical Watch: KLCC, TENAGA

 

NEWS HIGHLIGHTS

l  Emkay seeks partners to invest in Banding

l  AIA has 5.0% stake in Prestariang

l  Ekuinas sets aside RM360.0m for Tranche III

l  Hibiscus JV gets nod for Norwegian deal

l  Takeover puts Tune Insurance on rapid growth

FOREIGN NEWS HIGHLIGHTS           

l  Microsoft raced to USD7.2b deal with soul-searching Nokia

l  Daimler, Nissan to jointly build small luxury cars in Mexico

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  Global Economic Growth Still Sluggish, Says OECD

Malaysia

l  Fitch Welcomes Fuel Subsidy Cut, Warns More Is Needed

Asia Pacific

l  Singapore Manufacturing Activity Expansion Slows

l  China Sees Stronger Services Sector

l  Australia Holds Rates At Historic Low

USA

l  Manufacturing In U.S. Expands At A Faster Pace Than Forecast

l  Construction Spending In U.S. Climbed In July To Four-Year High

Europe

l  OECD Lifts European Growth Forecasts On Recovery

l  Spain's Jobless Total Holds Steady

Currencies

l  Malaysia Ringgit Hits 3-Week High After Fuel Subsidies Cut

l  Dollar Jumps After Surprise Manufacturing Gain

Commodities

l  Brent Holds Above $114 As Demand Hopes Offset Easing Syria Worries

l  Gold Up 1.4 Pct As Republicans Back U.S. Strike On Syria