Friday, August 26th, 2016

 

AZRB, Selangor Dredging, Bumi Armada, Scomi Engineering, Daya Materials, BIMB, Pos Malaysia and Datasonic

AZRB, Selangor Dredging, Bumi Armada, Scomi Engineering, Daya Materials, BIMB, Pos Malaysia and Datasonic

KUALA LUMPUR (Aug 25): Based on corporate announcements and news flow today, companies that may be in focus next Monday (Aug 29) could include: Ahmad Zaki Resources Bhd (AZRB), Selangor Dredging Bhd (SDB), Bumi Armada Bhd, Scomi Engineering Bhd, Daya Materials Bhd and BIMB Holdings Bhd, Pos Malaysia Bhd and Datasonic Group Bhd.

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Source: The Edge Markets


Mega projects to help ‘build future of Istanbul’, says minister

ISTANBUL, Aug 26 — Turkey is seeking to “build the future of Istanbul” with a brace of ambitious projects including a third bridge spanning the Bosphorus Strait linking Europe and Asia, Transport Minister Ahmet Arslan told AFP. The bridge… Source: The Malay Mail Online


Smoke from Indonesian fires hits ‘unhealthy’ level in Singapore

Smoke from Indonesian fires hits 'unhealthy' level in Singapore

SINGAPORE/JAKARTA (Aug 26): Air pollution in Singapore rose to the “unhealthy” level on Friday, as acrid smoke drifted over the island from fires on Indonesia’s Sumatra island, the National Environment Agency (NEA) said.

Every dry season, smoke from fires set to clear land for palm oil and pulp and paper plantations in Indonesia clouds the skies over much of the region, raising concern about public health and worrying tourist operators and airlines.

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Source: The Edge Markets


Fed’s Yellen says case for interest rate hike has strengthened

Fed's Yellen says case for interest rate hike has strengthened

JACKSON HOLE, Wyo./WASHINGTON (Aug 26): The case for a U.S. interest rate hike has strengthened in recent months, because of improvements in the labor market and expectations for solid economic growth, Federal Reserve Chair Janet Yellen said on Friday.

Yellen did not indicate when the U.S. central bank might raise rates, but her comments reinforced the view that such a move could come later this year. The Fed has policy meetings scheduled in September, November and December.

Source: The Edge Markets


Titijaya Land to raise RM101.48m via rights issue

titijaya

KUALA LUMPUR (Aug 26): Titijaya Land Bhd plans to raise up to RM101.48 million to fund its existing property development projects via a three-for-two renounceable rights issue.

In a filing with Bursa Malaysia today, Titijaya said it is proposing to undertake a renounceable rights issue of up to 615 million new irredeemable convertible preference shares (ICPS) at an issue price to be determined later.

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Source: The Edge Markets


Case for rate hike strengthening, Yellen says

JACKSON HOLE, Aug 26 — Justifications for an interest rate increase in the United States have grown in recent months, US Fed chief Janet Yellen said today. In an address to a central banking symposium at Jackson Hole, Wyoming, Yellen took note… Source: The Malay Mail Online


Oil prices drop as output hopes dampen

TEHRAN, Aug 26 — Oil prices fell today as OPEC’s key producers cast doubt on the need to cut output, denting hopes of a deal to tackle a global supply glut. Iranian Oil Minister Bijan Zanganeh today said his country wanted its pre-sanctions… Source: The Malay Mail Online


Rajan welcomes Patel as successor at Indian central bank

Rajan welcomes Patel as successor at Indian central bank

MUMBAI/NEW DELHI (Aug 26): India’s central bank governor Raghuram Rajan welcomed on Friday, the appointment of Urjit Patel as his successor, calling him a close ally and saying it would ensure continuity in meeting the country’s inflation objectives.

Patel, currently a deputy governor at the Reserve Bank of India, was named by the government this month to replace Rajan at the helm of the central bank on Sept 4.

Source: The Edge Markets


Turkey opens bridge between continents in megaproject drive

Turkey opens bridge between continents in megaproject drive

GARIPCE, Turkey (Aug 26): Turkey opens one of the world’s biggest suspension bridges on Friday, creating a new link between two continents with the latest megaproject in a US$200 billion building spree that President Tayyip Erdogan hopes will secure his place in history.

The bridge across the Bosphorus Strait, which divides Asia and Europe, is built in the style of New York’s Brooklyn Bridge and boasts pylons higher than the Eiffel Tower. It is 1.4 km (0.9 mile) long and 59 metres wide, with eight vehicle lanes and two high-speed rail lines.

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Source: The Edge Markets


European shares turn higher after Yellen speech

European shares turn higher after Yellen speech

MILAN/LONDON (Aug 26): European shares rose after Federal Reserve Chair Janet Yellen said the case for raising U.S. interest rates had strengthened thanks to improvements in the labour market and expectations for moderate economic growth.

Yellen did not indicate when the U.S. central bank might raise rates, but her comments reinforced the view that such a move could come later this year.

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Source: The Edge Markets