US producer prices rebound in September. A rise in services prices offset a slight drop in prices for goods, including a 3.5 per cent drop in gasoline prices. Final demand prices had fallen 0.1 per cent in August. In the 12 months through September, the producer price index rose 2.6 per cent, slightly less than expected.

Oil prices slump 2% as Wall Street slides. Oil prices dropped 2 per cent on Wednesday as US equity markets broadly fell, even though energy traders worried about shrinking Iranian supply from US sanctions and kept an eye on Hurricane Michael, which closed some US Gulf of Mexico oil output. Brent crude futures fell US$1.91, or 2.3 per cent, to settle at US$83.09 a barrel. The global benchmark posted a 1.3 per cent gain on Tuesday. US West Texas Intermediate (WTI) crude futures fell US$1.79 to settle at US$73.17 a barrel, a 2.4 per cent loss.

Singtel to buy Australian cyber security firm for A$23.3 million. Optus Cyber Security will pay up to A$23.3 million (S$22.9 million) for three-year-old Hivint, subject to earn out targets and adjustments such as working capital and cash at closing, in a conditional agreement announced by the group on Wednesday evening.

Sembcorp starts commercial operation of 225-MW Myanmar power plant. The approximately US$300 million power plant uses advanced combined-cycle gas turbine technology that maximises power output while minimising emissions. With the successful completion, the facility will generate around 1,500 gigawatt hours of power for supply to Myanmar’s Electric Power Generation Enterprise (EPGE), helping to meet the power needs of around 5.3 million people.

DBS launches programme to mentor 12 social enterprises in Singapore. DBS said in a statement that through the DBS Social Enterprise Support Programme, social enterprises "will have access to mentoring sessions by DBS’ senior SME bankers, banking and finance training courses at the DBS SME Academy, as well as better financing options."

AmBank withdraws legal action against Nam Cheong unit. The Nam Cheong Dockyard unit received a writ of summons and statement of claim in Kuala Lumpur's High Court of Malaya in 2017, but the board has now said that the legal action will be taken back, on the successful conclusion of the group's debt restructuring exercise.

Noble divests Indonesian subsidiary for nominal payment of US$1. Kaltim Bio Energi had a book value of US$10.4 million, based on unaudited financial results for the six months to June 30. Its outstanding payables include a US$10.4 million pre-payment facility owed to Noble.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research