Top foreign and local stories at 3.15pm

by **Cals** Mon 31 Aug 2015, 21:14

Top foreign and local stories at 3.15pm

Monday, 31 August 2015

[size=16]Energy

Crent crude was 1.62% lower at US$49.24 per barrel at 2.44pm

Forex

Ringgit up 0.06% to 4.1965 versus the US dollar at 3.07pm.

Top foreign stories

Japan factory output turns down in July: Japan’s factory output contracted a worse-than-expected 0.6% on-month in July, official data showed on Monday, owing to lacklustre demand at home and as a slowdown in China weighs on exports. The reading published by the industry ministry was weaker than the median forecast for a modest 0.1% rise in a survey of economists by Bloomberg News. In June, industrial production rose 1.1% from May. - AFP

Indonesia seen favouring China over Japan in railway bid: Indonesia is leaning towards China over Japan in an aggressive bidding battle to build the South-East Asian nation’s first high-speed railway, two government sources involved in making the decision said. The two Asian giants have both sent envoys to lobby Indonesian officials over the past two weeks, each sweetening the terms of their bid for the contract worth about US$5 billion. - Reuters

Citi aims to boost equities franchise: Citigroup plans to rebuild its long-neglected equities franchise seeking to capitalise on a retrenchment by rivals in the face of new rules designed to make the financial system less risky, according people familiar with the bank’s plans. - Reuters

Top local stories

Petronas eyes gas exploration ventures: Petronas may positively consider to participate in joint gas exploration at the border areas of Venezuela and Trinidad and Tobago, Foreign Minister Datuk Seri Anifah Aman said. — Bernama

Furniture maker Bristol targets 4% revenue growth: Office furniture maker Bristol Technologies Sdn Bhd aims a revenue growth of 4% foloowing the introduction of a lifestyle category. Managing director Yong Yook Seng said the company recorded a yearly revenue of RM30 million from the Malaysian market and RM80 million more from overseas market. - Bernama[/size]