Posts by Mark Darwin
US dollar benefits from selling exhaustion, ECB cuts rates
[NEW YORK] THE US dollar rallied on Thursday (Apr 17) after its recent weakness across peer currencies appeared exhausted for the time being, while the euro weakened slightly after the European Central Bank cut rates for the seventh time in a year. The greenback has largely stabilised this week and held within a tight range…
Read MoreAmEx profit rises on resilient card spending
Provisions for credit losses were US$1.2 billion in the quarter, compared with US$1.3 billion a year earlier Published Thu, Apr 17, 2025 · 09:11 PM [NEW YORK] American Express reported a 6 per cent rise in first-quarter profit on Thursday (Apr 16), as its premium customers shrugged off fears of a slowdown to continue spending.…
Read MoreECB cuts rates again to help economy weather erratic US trade policy
[FRANKFURT] The European Central Bank cut interest rates for the seventh time in a year on Thursday (Apr 17), looking to prop up an already struggling eurozone economy that will take a large hit from US tariffs. The ECB has been lowering borrowing costs as post-pandemic price pressures retreat, and recent trade-related turmoil on global…
Read MoreSingapore shares settle higher on Thursday; STI extends rally, up 1.6%
The benchmark index’s gains mirror major regional indices, such as the Kospi, which rose 0.9% [SINGAPORE] The Straits Times Index (STI) continued to rally on Thursday (Apr 17), tracking regional indices. The STI closed up 1.6 per cent or 57.88 points at 3,720.33. The trio of local banks continued to bounce back, with DBS adding…
Read MoreTariff-fuelled volatility killing private equity optimism as deal flows squeezed
[SINGAPORE] In just three months, private equity markets’ initial optimism for a busier year has largely dissipated. Instead, the turmoil unleashed on global financial markets by President Donald Trump’s Liberation Day tariffs is quashing activity in private equity (PE), particularly as billions of dollars worth in mergers and plans for initial public offerings (IPO) are…
Read MoreLuxury brand Hermes to pass on tariff costs to US clients as sales growth slows
[PARIS] France’s Hermes will fully shift the burden of tariffs in the US to its wealthy clientele, the company said on Thursday (Apr 17), as it posted first-quarter sales that slightly missed market expectations in a rare show of weakness. Hermes’s first-quarter sales were dragged down by a continued lull in China, but were still…
Read MoreIndia’s IDFC First Bank to raise 75 billion rupees from Warburg Pincus, Adia
The Mumbai-based lender will issue 1.25 billion preference shares to the investors Published Thu, Apr 17, 2025 · 01:12 PM [MUMBAI] IDFC First Bank has approved a plan to raise 75 billion rupees (S$1.2 billion) from Warburg Pincus and Abu Dhabi Investment Authority (Adia). The US-based private equity firm will invest US$570 million through its…
Read MoreECB to cut rates again to help economy overcome trade turmoil
[FRANKFURT] The European Central Bank (ECB) is expected to cut interest rates for the seventh time in a year on Thursday (Apr 17), looking to prop up an already struggling economy that will take a large hit from US tariffs. The ECB has been easing borrowing costs rapidly as undue price pressures are disappearing, and…
Read MoreBank of Korea holds rate steady after inflation sped up and won wobbled
[SEOUL] The Bank of Korea (BOK) held its benchmark interest rate steady to foster stability after consumer inflation unexpectedly picked up and the won weakened to a 16-year low as Donald Trump’s tariff campaign rattled markets and clouded the growth outlook. The central bank kept its seven-day repurchase rate unchanged at 2.75 per cent on…
Read MoreMalaysia Airlines parent reports lower profit in 2024
[KUALA LUMPUR] Malaysia Airlines’ parent company Malaysia Aviation Group (MAG) reported a second consecutive annual profit in 2024, but it fell 93 per cent from the previous year due to lower airfares and capacity cuts stemming from supply chain and maintenance issues. MAG, owned by Malaysian sovereign wealth fund Khazanah Nasional, on Thursday (Apr 17)…
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