Morning business news round-up for Oct 16, 2014

SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. Asia markets battered. A global selloff in the US and Europe on Wednesday extended into Asia with stocks slumping to six month lows and oil and the US dollar falling on growing concerns over economic growth around the world and Ebola fears. The Straits Times index was down 36.40 poinst or 1.14 per cent at 3,162.32.

2. McKinsey launches productivity research centre in Singapore. Global management consulting firm McKinsey has launched a research centre here focused on helping companies raise productivity.

3. China Sept new bank loans beat forecast. Chinese banks made 857.2 billion yuan (S$177.85 billion) worth of new loans in September beating market expectations in a sign that demand for credit is picking up.