|
NEWS
|
|
|
Outside Malaysia:
E.U: Unemployment retreated in February to the lowest
since 2011, continuing its slow decline as the economy grows at a modest
pace. The rate fell to 10.3% from 10.4% in January, the European Union’s
statistics office Eurostat said. While the unemployment rate in the
currency bloc has been almost continuously above 10% for more than six
years, national figures point to a divide in the region. In Germany, the
jobless rate held at 4.3%, according to Eurostat. (Source: Bloomberg)
U.K: Homebuilding activity barely grew in March as
increased uncertainty about the outlook damped demand. An index of
residential construction dropped to 50.3 from 53 in February, Markit
Economics said. That’s the weakest reading since January 2013 and just
above the 50 level that divides expansion from contraction. A gauge of
total construction remained at 54.2 last month, matching the lowest since
April 2015, and Markit said U.K. building is experiencing its “weakest
growth phase since the summer of 2013.” (Source: Bloomberg)
China: Top economic planner sees faster inflation this
year. China consumer prices may rise slightly in 2016, in part because of
higher prices for necessities and in part because of government policy
curbing overcapacity, the price monitoring center of National Development
and Reform Commission said in an article published on China Securities
Journal. Decline in PPI and deflation pressure may ease while property
price increases are seen to be faster than last year. Yuan may also see
slight depreciation in 2016. (Source: Bloomberg)
China: Growth shocks increasingly driving stock market,
IMF says. Economic surprises in China are increasingly driving global
stock-market returns, underscoring the need for clear and timely
communication by the nation’s Communist Party policy makers, according to
the International Monetary Fund. There’s been a strong and steady
increase over the last two decades in the impact of Chinese growth
surprises on stock returns in emerging and advanced economies, the IMF
found after analyzing the effect of Chinese industrial-production figures
that missed market expectations. (Source: Bloomberg)
Japan: Yen approaches 18-month high as traders weigh BOJ
policy limits. Japan’s currency appreciated 6.8% in the first quarter,
signaling that three years of stimulus have been priced in. Concerns
about a global economic slowdown have prompted investors to buy yen this
year. The BOJ’s surprise Jan. 29 decision to adopt negative interest
rates has failed to rein in the rally. (Source: Bloomberg)
|
|
|
|
|
|
|
Other news:
Automotive: Miti reviewing Proton’s loan application. Miti
said a vital consideration of the review is the welfare of Proton’s
12,000 employees as well as 47,000 workers employed by company’s 350
components manufacturers and services-related vendors. Mito also said
Proton’s position as a national car project will be taken into
consideration, as will the real and urgent need for Proton to implement a
sustainable, even difficult restructuring plan that can ensure its
long-term economic viability. Proton has reportedly bled MYR2.5b in the
four years since it was taken over by DRB-Hicom. (Source: The Edge
Financial Daily)
Boustead Holdings: Foresees rebound in 2016 earnings. It
expects to generate at least MYR500m through its asset disposal exercise
this year and is confident that it will register better financial
performance in 2016, supported mainly by the heavy industries and
plantation sectors. Boustead Holdings said the heavy industries segment
will return to the black in 2016 with the shift in focus towards the navy
segment, which could see sustainable demand. For the plantation business,
it foresees the rebound of CPO price to about MYR3,000 per tonne in the
third quarter of the year, which will continue to support the sector’s
growth. (Source: The Sun Daily)
SP Setia: Confirms key officers. The group has confirmed
Datuk Khor Chap Jen as its president and CEO, Datuk Wong Tuck Wai as its
deputy president and COO, and Choy Kah Yew as its CFO effective April 1,
2016. Khor is the first president and CEO of the group to be confirmed by
the board since Liew’s departure. Datuk Voon Tin Yow, who replaced Liew,
was the acting president and CEO until Dec 31, 2014. Khor, 56, assumed
the role of acting president and CEO on Jan 1, 2015. He was previously
the acting deputy president and COO from May 1, 2014 till Dec 31, 2014.
(Source: The Sun Daily)
|
|
|
|
|
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.