Market highlights

1. The market, already battling a China slowdown and stock market rout along with the Greek debt crisis, got another jolt of volatility yesterday with the shock news of China's sharp devaluation of the yuan. Investors may be in for a rocky ride for the rest of the year.

2. Billionaire Warren Buffett's Berkshire Hathaway, which is paying US$37 billion (S$52 billion) for Precision Castparts, a maker of equipment for the aerospace and energy industries, has signalled a move away from areas such as food-related firms.

3. Oxley Holdings continues its expansion abroad. The property developer has inked an agreement for global hotel firm Jumeirah Group to operate its 190-room luxury hotel and premium residences in Kuala Lumpur. Construction starts next year.

4. Blumont Group, one of the key players caught up in the penny stock scandal at the end of 2013, continues to languish. Its second-quarter revenue was only $946,000, while its net loss widened by 2 per cent to $4.3 million.

5. Listed Courts Asia's bid to buy Courts Mauritius has failed, even though it was the preferred bidder. No other bidder was being considered. CEO Terry O'Connor said it was disappointing that the Mauritius unit was unable to return to the group.

A version of this article appeared in the print edition of The Straits Times on August 12, 2015, with the headline 'Market highlights'. Print Edition | Subscribe