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CNBC Utilities Page Wires

  • *Net profit up 10 pct to 1.9 billion ringgit, best ever for Q1. KUALA LUMPUR, May 28- Malayan Banking Bhd, Malaysia's largest lender, posted its highest ever first-quarter profit, helped by a drop in expenses and continued decline in impairment losses. Maybank's net profit for the quarter was 1.9 billion ringgit, up 10 percent from 1.7 billion ringgit a year ago.

  • Brokerages including JPMorgan, Sinolink and Shenwan Hongyuan predict around $17 billion of foreign money will flow into China stocks during MSCI's two-stage inclusion process, on June 1 and Sept. 3, roughly in line with MSCI's own estimates. Goldman Sachs, BNP Paribas and Hong Kong- based asset manager CSOP forecast inflows of about $20 billion.

  • KUALA LUMPUR, May 28- Malaysia's Felda Global Ventures Bhd, the world's largest crude palm oil producer, on Monday said its net profit fell 24 percent in the first quarter from the same time last year amid lower prices for the commodity. FGV reported net a profit of 1.3 million ringgit for the quarter that ended in March, versus 1.7 million ringgit in the same period...

  • BEIJING, May 28- French water and waste services firm Veolia Environnement SA sees opportunities in China from Beijing's crackdown on waste imports as it prepares to open a ship dismantling plant in Guangdong, two senior executives said on Monday. Chief Executive Officer Antoine Frerot gave the positive assessment of China's scrap crackdown in an interview.

  • WELLINGTON, New Zealand— New Zealand plans to slaughter about 150,000 cows as it tries to eradicate a strain of disease-causing bacteria from the national herd. Farming is vital to the economy in New Zealand, whose isolation has helped protect it from some diseases which affect herds elsewhere. Found in Europe and the U.S., the bacteria can cause cows to develop...

  • SAN FRANCISCO— A major tobacco company is pumping millions of dollars into a campaign to persuade San Francisco voters to reject a ban on selling flavored tobacco products, including menthol cigarettes, certain chewing tobaccos and vaping liquids with flavors like cotton candy, mango and cool cucumber. San Francisco supervisors last year unanimously...

  • JOHANNESBURG, May 28- Sugar producer Tongaat Hulett said on Monday its full-year profit fell by 37 percent, weighed down by higher-than-expected sugar imports by South Africa and low international prices. Diluted headline earnings per share fell to 534.8 cents in the year ended March 31, from 852.7 cents in the previous year. HEPS is the main profit measure used...

  • KUALA LUMPUR, May 28- Malayan Banking Bhd, Malaysia's largest lender, on Monday reported a 10 percent rise in first-quarter profit, beating estimates, helped by a drop in expenses and allowances for impairment losses. Maybank's net profit in the quarter ended March was at 1.9 billion ringgit, up from 1.7 billion ringgit a year ago. That compares to a 1.85 billion...

  • *Saudi Arabia, Russia set to raise supplies by 1 million bpd. SINGAPORE, May 28- Oil prices slumped on Monday, extending steep declines from Friday, as Saudi Arabia and Russia said they may increase supplies and as U.S. production gains show no signs of abating. In China, Shanghai crude oil futures tumbled by 4.8 percent to 457.7 yuan per barrel.

  • The Commerce Department delivers its latest estimate of first-quarter economic growth on Wednesday. Strong sales growth has helped keep profits climbing for Costco Wholesale. Financial analysts expect Costco will report Thursday that its latest quarterly results also improved from a year earlier.

  • SHANGHAI, May 28- China's yuan inched up against the U.S. dollar on Monday despite a much lower midpont for the local currency, mainly as corporate clients cut long dollar positions on the view policy makers will keep the yuan stable this year. Prior to market opening on Monday, the People's Bank of China lowered the midpoint rate to 6.3962 per dollar, the lowest...

  • China plans to cut import tariffs for automobiles and car parts on July 1, opening up greater access to the world's largest auto market amid an easing of trade tensions with the United States. China is looking to boost domestic consumption amid signs of slowing momentum in the world's second-largest economy. The survey results would also be welcome news to...

  • JAKARTA, May 28- An out-of-schedule Indonesian central bank policy meeting on Wednesday will allow a quick response to market movements, Bank Indonesia's new governor said on Monday, as a growing number of economists bet on an interest rate hike at the session. Bank Indonesia on May 17 raised its benchmark interest rate for the first time since November 2014 in a...

  • SHANGHAI, May 28- China and Hong Kong stocks climbed on Monday, on signs the United States and North Korea were still working towards holding a summit. **Sentiment was also aided as worries eased over the trade tensions between China and the United States, after U.S. reached a deal to keep China's ZTE in business. **Chinese Vice President Wang Qishan said on Friday there...

  • SEOUL, South Korea— South Korean police on Monday summoned the wife of Korean Air Chairman Cho Yang- ho to question her about allegations she abused and assaulted employees. Lee Myung- hee has been accused of physically or verbally abusing more than 10 former and current employees of Cho's Hanjin conglomerate, the parent of Korean Air. Cho Hyun- ah's younger sister,...

  • WASHINGTON— President Donald Trump has warned Congress that he will never sign another foot-tall, $1 trillion- plus government-wide spending bill like the one he did in March. But Capitol Hill's dysfunction is so pervasive that even the most optimistic predictions are for only a handful of the 12 annual spending bills to make it into law by Oct. 1, the start of the...

  • TOKYO, May 28- Japanese government bond prices rose on Monday, tracking gains by U.S. Treasuries as political turmoil in the euro zone enhanced demand for safe-haven debt. Treasury yields fell to three-week lows on Friday as concerns about Italy's new government and a leadership challenge in Spain boosted demand for low-risk government bonds.

  • HONG KONG— Shares were mostly higher in Asia on Monday as investors digested the latest developments regarding North Korea and Italian politics. KEEPING SCORE: Japan's benchmark Nikkei 225 index was nearly flat at 22,445.27 while South Korea's Kospi rose 0.8 percent to 2,480.92. NORTH KOREA: President Donald Trump's latest reversal on a summit with North...

  • BENGALURU, May 28- Gold prices fell on Monday on revived hopes of a U.S.- North Korea summit, while a strong dollar also weighed on the market. "It looks like there is some chance of a meeting between the U.S. and North Korea leaders, that would lower the geopolitical risks and lessen the appeal of gold," said John Sharma, an economist with National Australia Bank, adding...

  • *Euro off low but vulnerable to political worries in Italy, Spain. TOKYO, May 28- U.S. oil futures hit six-week lows on expectations major producers may ease output curbs on Monday, while Asian stocks and U.S. share futures gained on signs the United States and North Korea were still working towards holding a summit. His comments came after the energy ministers of...