Saturday, October 1st, 2016

 

Iconic timepiece, jewelry showcase returns for the 10th year to Starhill Gallery

KUALA LUMPUR (Oct 1 ): Southeast Asia’s leading watch and jewelry lifestyle showcase — A Journey Through Time — is returning for the 10th year at the Starhill Gallery this November.

In conjunction with its 10th anniversary, the iconic annual exhibition, themed ‘Legacy and Icons’ this year, will be held for 10 days from Nov 4 to Nov 13, instead of the usual eight-day period in previous years.

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Source: The Edge Markets


Indians disclose US$10b in hidden wealth in tax evasion amnesty

NEW DELHI, Oct 1 ― A government amnesty targeting tax evasion in India has prompted tens of thousands of suspected tax dodgers to disclose nearly US$10 billion (RM41.2 billion) in undeclared income, the finance minister said today. The… Source: The Malay Mail Online


Macau gambling revenue rises a second month after two-year decline

HONG KONG, Oct 1 ― The world’s biggest casino hub of Macau posted a better than expected 7.4 per cent rise in gambling revenue in September, marking the second consecutive month of growth after more than two years of decline, as new resorts… Source: The Malay Mail Online


Petronas weighs sale to exit US$27bn Canada LNG project, sources say

KUALA LUMPUR, Oct 1 ― Malaysian state oil firm Petroliam Nasional Bhd is considering selling its majority stake in a US$27 (RM111.40 billion) Canadian liquefied natural gas (LNG) plant, three people familiar with the matter said this week…. Source: The Malay Mail Online


Petronas denies report it is considering sale of Canadian LNG project stake

KUALA LUMPUR, Oct 1 ― Malaysian state oil firm Petroliam Nasional Bhd, or Petronas, said it “categorically denies” a Reuters report that it was considering selling its majority stake in a US$27 billion (RM111.40 billion) Canadian liquefied… Source: The Malay Mail Online


China manufacturing continues rebound in September

BEIJING, Oct 1 ― Manufacturing activity in China continued its rebound in September on improving production and demand, government data showed today ― a positive sign for the world’s second-largest economy. The official purchasing… Source: The Malay Mail Online


Ringgit to come under pressure on expected continuous oil price volatility

KUALA LUMPUR: The ringgit is likely to come under pressure next week on expected continuous oil price volatility, a currency dealer said.

The market's scepticism over the Organisation of the Petroleum Exporting Countries's (OPEC) output cut agreement and global risk aversion may continue to pressure the ringgit and most emerging Asian currencies, he said.

“The scepticism over the OPEC deal may lead to further oil price swings ahead of its November meeting.

“The ringgit, which is perceived as a commodity currency, may follow suit on the volatility as many investors doubt the OPEC agreement would have much impact on the crude oil market oversupply,” he told Bernama.

OPEC members, with the exception of Iran, Libya and Nigeria, struck a deal at the meeting in Algeria to cut output to between 32.5 million and 33 million barrels per day (bpd) from 33.4 million bpd currently.

The details, including the quotas for each member and the implementation data, will be finalised at OPEC's policy meeting in Vienna, Austria in November.

“Beside oil factor, the ringgit and other Asian emerging currencies may continue to be under pressure on the global risk aversion as worries about Deutsche Bank soured risk sentiment, as well as uncertainties surrounding global monetary policies and the US elections,” he said.

On Friday-to-Friday basis, the local note weakened against the greenback to 4.1320/1390 from 4.1100/1170 last week.

The ringgit also ended mostly lower against a basket of currencies.

It fell against the Singapore dollar to 3.0269/0325 from 3.0256/0319 last Friday and eased against the yen to 4.0862/0944 from 4.0721/0795 previously.

The ringgit declined against the euro to 4.6159/6253 from 4.6085/6168 last week and eased against the British pound to 5.3596/3704 against 5.3475/3587 last Friday. — Bernama Source: The Sun Daily


Bursa Malaysia to maintain trade sideways next week

KUALA LUMPUR, Oct 1― Bursa Malaysia is likely to continue to trade sideways next week, with the benchmark index expected to be trapped between 1,660 and 1,680 points due to the weak market sentiment, said Affin Hwang Investment Bank. Its… Source: The Malay Mail Online


Ringgit to come under pressure on expected continuous price volatility

KUALA LUMPUR, Oct 1 ― The ringgit is likely to come under pressure next week on expected continuous oil price volatility, a currency dealer said. The market’s scepticism over the Organisation of the Petroleum Exporting Countries’s (Opec)… Source: The Malay Mail Online


South Korea September exports down, as expected due to Hyundai strikes

SEOUL, Oct 1 ― South Korean exports in September fell, as expected, after posting the first rise in 20 months in August, as slightly fewer working days and a strike at the biggest automaker hit shipments, data showed today. Exports fell 5.9… Source: The Malay Mail Online