1 The world's largest retailer, Wal-Mart Stores, reported weaker-than-expected quarterly earnings and lowered its full-year forecast yesterday, as it invested in staffing and experienced weaker margins in its United States pharmacy business.
2 Norway's US$870 billion (S$1.2 trillion) sovereign wealth fund is looking beyond the current sell-off and quick policy shifts from China's leadership. It is prepared to increase its holdings in the world's second-biggest economy, Bloomberg reported.
3 SGX-listed Thakral is setting up a joint venture with PVAP , an Australian player, to develop resort-style retirement villages. It will buy sites in South Queensland and Northern New South Wales to develop over 1,000 homes. It plans more expansion later.
4 SGX-listed Union Steel Holdings says that it expects to report a net loss for the year ended June 30 owing to the slowdown in market demand for its steel products. As steel prices keep falling, the value of its stock has also been written down.
5 Social e-commerce company YuuZoo Corporation, listed on the Singapore Exchange, has bought the assets of Camigo Media, a leading mobile game developer based in Shanghai - including user data of more than 26 million users.