Energy
Brent Crude was down 0.43% to US$44.25 per barrel at 1.52pm.
Forex
Ringgit up 0.19% to 4.2245 versus the US dollar at 2.24pm.
Top foreign stories
Yellen, in back-to-back appearances, could close out era of zero rates: Federal Reserve chair Janet Yellen could cement the case for a US interest rate hike ahead of the Fed’s Dec 15-16 policy meeting, with public appearances over the next two days at a high-profile economics group and before a joint committee of Congress. — Reuters
BoJ won’t hesitate to ease if emerging market slowdown hurts inflation trend: The Bank of Japan (BoJ) is prepared to ease monetary policy again if further deterioration in emerging economies hurts a broad uptrend in Japanese inflation, deputy governor Kikuo Iwata said on Wednesday. — Reuters
Australia economy expands as resources boom shift accelerates: Australia’s economy grew 0.9% in the third quarter for an annual rate of 2.5%, official data showed on Wednesday, with Treasurer Scott Morrison hailing progress in shifting from the resources boom to broader-based growth. — AFP
Cheap oil has ECB over a barrel: Falling oil prices can be both a boon and bane for the global economy, but for the European Central Bank (ECB) they are now a major headache because they are keeping eurozone inflation much lower than it would like. — AFP
S&P study shows three-quarters of Asian adults not financially literate: A total of 73% of adults in Asia do not adequately understand key monetary ideas, including risk diversification, inflation and compound interest, according to Standard & Poor’s Ratings Services global financial literacy survey. The findings of the survey released on Wednesday showed the percentage of financially literate adults across the continent was lower than the global average. — StarBiz
China removes bond issuance limits for some companies: China’s top economic planning agency has removed limits on the number of onshore bonds local companies can issue per year as part of wider moves to cut red tape in the country’s corporate bond market. The National Development and Reform Commission (NDRC)’s new streamlined regulations announced on Wednesday will apply to issuers of corporate debt rated AA and above. — Reuters
Women are the future of Hermes Watches, new top man says: The new head of Hermes Watches, Laurent Dordet, is hoping a more feminine touch, added with the fashion group’s own in-house know-how, will help it navigate through the turbulence rocking the sector. — AFP
Top local stories
Polo Resources to take up 8.4% stake in Hibiscus Petroleum: Polo Resources Ltd is taking a block of 90 million new shares in Hibiscus Petroleum Bhd
at 23.5 sen each. Hibiscus told Bursa Malaysia on Wednesday that the block of shares to be placed out to Polo Resources would be 8.4% of its paid-up. — StarBiz
EPF sells nearly 8m IOI Corp shares: The Employees Provident Fund (EPF) Board took the opportunity to take profit in plantation heavyweight IOI Corporation on Nov 27 to dispose of 7.86 million shares. After the sale, EPF’s total stake was reduced to 568.61 million shares or 9.03%. — StarBiz
Potential RM2.66b investments from S. Korea, Japan missions: The trade and investment missions to South Korea and Japan from Nov 23-27, organised by the Malaysian Investment Development Authority (Mida), proved successful bringing in potential investments of US$626.04 million (RM2.66 billion). — Bernama
Shell Helix partners with major carmakers: Shell Helix will be pursuing more strategic partnerships with major carmakers as a key growth strategy for its range of passenger car motor oils, adding it was confident of further growing its market share in both the franchise workshops and after-market segments. — Bernama
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