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MANILA: The Philippine central bank expects the country’s current account and balance of payments (BOP) surpluses to be narrower than previously estimated due to higher import requirements, its governor said yesterday.
SHANGHAI: China’s central bank is looking into allegations that Bank of China (BoC), the country’s fourth largest lender, has been laundering money offshore for clients, said the official Xinhua news agency.
HONG KONG: Bank of America Corp (BoA) has appointed Mayank Saxena as head of its Southeast Asia financial institutions group, the United States bank said in an internal memo yesterday. Saxena was previously at Credit Suisse in Singapore, also covering financial institutions in Southeast Asia. He will be responsible for sourcing and executing investment banking deals for financial institution clients in the region, the memo said. A spokesperson for Bank of America Merrill Lynch in Hong Kong declined to comment. Reuters
HONG KONG: Macau’s corruption agency is examining a land deal relating to Las Vegas mogul Steve Wynn’s upcoming US$4 billion (RM12.76 billion) casino, media reported. The anti-graft body is investigating after the United States-based International Union of Operating Engineers asked the Macau government to provide more details on how a little-known company secured rights to land before it was granted to Wynn. The land is now part of Macau’s multi-billion-dollar gambling precinct known as the Cotai Strip, where Wynn’s Wynn Ma-cau Ltd is set to open its second casino resort in 2016. Reuters
SYDNEY: Australian gas pipeline owner Envestra Ltd declared a final dividend earlier than planned, potentially throwing into doubt a A$2.2 billion (RM6.58 billion) takeover offer from Hong Kong’s Cheung Kong Infrastructure Holdings Ltd (CKI). Envestra’s directors have recommended the May 9 offer from billionaire Li Ka-shing’s company, but both firms recently revealed they disagreed on the date when the Australian takeover target would declare its final dividend. Envestra wanted to bring the date forward to yesterday but CKI objected. Reuters
SIDEWAYS movements saw share prices on Bursa Malaysia consolidating within narrow trading ranges last week. The FTSE Bursa Malaysia KLCI (FBM KLCI) remained rangebound over the week hitting an intra-week low of 1,883.15 yesterday.
RHB Research remains “neutral” on the telecommunications sector, with DiGi as its Top Pick for its above-industry revenue and earnings growth.
BURSA Malaysia ended the day lower on continued selling in heavyweight stocks, led by CIMB, Petronas Dagangan and Petronas Gas, dealers said.
HONG KONG: Asian markets were mixed while the safe-haven yen edged up yesterday following a selloff on Wall Street and in Europe as fears over eurozone debt resurfaced with a payment crisis at Portugal’s biggest listed bank.
MUMBAI: European stock markets rebounded yesterday after slumping on worries about the soundness of a bank in Portugal, while trading in Asia was muted over the spectre of furtherfinancial turmoil in Europe.
SHARES ended flat yesterday as bargain-hunting pared earlier losses fuelled by a Wall Street sell-off and fears over Portugal’s biggest listed bank.
THE Straits Times Index (STI) ended 24.23 points, or 0.74 per cent, higher to 3,293.73 points yesterday.
SERDANG: Universiti Putra Malaysia (UPM) became the first higher education institution in Asia to receive ac creditation for its teacher education programme from a Washington-based organization, the Teacher Education Ac creditation Council (TEAC) recently.
KUALA LUMPUR: Umno president Datuk Seri Najib Razak today reminded Umno members to be always careful in making statements or stating opinions because this would in a way affect how others would view the party.
KUALA LUMPUR: All Umno divisions have been asked to organise the 'solat hajat' (special prayers) to pray for the safety of the Palestinians from Israeli brutality.