Markets highlights

1 Global oil prices sank to a 61/2-year low yesterday, as a surprise rise in United States stocks fuelled supply glut fears. The US benchmark West Texas Intermediate dropped to US$40.21 a barrel, while the Brent North Sea crude contract slid to US$46.31.


2 Noble Group can generate positive cash flow from operations (CFO) in the second half of the year, Fitch Ratings said yesterday. In the second quarter, Noble had a negative CFO of US$399 million (S$560.7 million).


3 A joint venture firm formed by Singapore's OKH Global and Pan Asia Logistics Group has inked a deal for a build-to-suit logistics property with BMW Asia Technology Centre.

The property will be built at Senai Airport Free Industrial Zone in Johor Baru.


Li & Fung, the world's largest supplier of clothes and toys to retailers, reported yesterday that its first-half core operating profit slumped 20 per cent to US$182 million (S$255.7 million) amid weak demand from its customers in the US and Europe.


5 Malaysian budget airline AirAsia reported a 33 per cent drop in its second-quarter net profit, due to a rise in costs.

Net profit from April to June fell to RM243 million (S$83.3 million), although the airline carried 10 per cent more passengers than a year earlier.

A version of this article appeared in the print edition of The Straits Times on August 21, 2015, with the headline 'Markets highlights'. Print Edition | Subscribe