Kenanga Today : 17 July 2012

NEWS HIGHLIGHTS

- AZRB picks Teraju's Advance Pact under RM600m deal

- Cheng: Lion Group's revamp for steel ops still on

- Construction of Kimanis power plant 66.06% completed

- Digistar to buy remainder of Seni Pujaan for RM13m

- TPS Builder wins Manli refinery jobs

- Indonesian Government likely to end Koba Tin contract nextyear

- UMLand won’t seek alternate buyer

- Fate of IPPs to be known in September

- CheKhalib joins DRB-HICOM

FOREIGN NEWS HIGHLIGHTS

- GSK clinches deal to buy Human Genome for USD3.0b

- ThermoFisher to buy One Lambda for USD925m

ECONOMIC NEWSHIGHLIGHTS (MACRO BITS)

Global

- IMF Cuts Global Outlook As EU Ensnares Emerging Economies

Malaysia

- IMF Retains Malaysia'sGDP Growth Forecast

- Minimum Wage Gazetted, Takes Effect Jan 1

Asia

- Singapore New Home Sales Plunge In June From May

- South Korea’s Bahk Rules Out Additional Fiscal Stimulus

- China Eases Taxes For Foreign Companies

- Indian Inflation Slows In June

USA

- Retail Purchases In U.S. Unexpectedly Decrease 0.5%

Europe

- London House Prices Plunge As Supply Rise AddsTo Lull

Currencies

- Dollar FallsAfter Weak U.S.Retail Sales

Commodities

- Oil Higher On Stimulus Hopes, Iran Tensions

- Gold Edges Up As Dollar Drops, All Eyes On Bernanke