Kenanga Today : 13 August 2012

NEWS HIGHLIGHTS

- SC: Sime doesn't need to make MGO

- Takaful reports strong half

- Nicorp in oil venture with Keloil

- Daya signs MOU on oil & gas technologies

- Silk Holdings gets contract extensions from Petronas Carigali

- Dijaya 'naturally' interested in land

- George Kent again defends LRT project role

- Packaging sector sees pick-up in sales

FOREIGN NEWS HIGHLIGHTS

- Manchester United shares flat in debut after IPO disappoints

- Baer close to buying Merrill wealth unit: sources

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

- Japan Parliament Passes Doubling Of Sales Tax To 10%.

- Japan Q2 GDP Rises 0.3% qtr/qtr.

- China Export And Import Growth Slows Sharply In July.

- China And Taiwan Sign Key Investment Protection Pact.

USA

- Treasuries' Slide Is Longest Since February On Economic Views.

- Growing Paychecks Boost Americans' Purchasing Power.

- Import Prices In U.S. Unexpectedly Fell In July For Fourth Month.

Europe

- Spanish, Italian Two-Year Notes Drop On ECB Plan, Growth Concern.

- UK Construction Output Fall Better Than Expected.

- Romania Completes Talks With IMF, EU On Review Of Its Aid Deal.

- Russia Holds Rates For Eighth Month As Inflation Quickens.

Currencies

- Dollar Falls, Market Shakes Off Weak Asia Data. The Aussie, Asia's= Proxy, Falls Less Than Anticipated.

Commodities

- Oil Falls As China Export Growth Slows, IEA Cuts Forecast.

- Gold Up On Stimulus Hopes After Weak Chinese Data.

Source: Kenanga